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3. Second parties represent to first .party that neither -
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they nor any of them has or claims any defenses,or_setoffs
against the total indebtedness owed to first- party as evidenced
by the existing instruments nor have or claim any sights, title
or interest in and to any of the Lakeview Property or Oceanview
Property, apart from any rights they may have solely by virture
o~ the Costa Lakeview Mortgage and the Costa Oceanv iew
!lortgage, as those terms are defined .in the Modification and
Bxtension of Mortgage and Collateral Mortgage of even date
herewith, that will not be conveyed or released upon the
conveyance of said properties as contemplated in the proposed
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documents and agrees that the existing instruments and as they
are to be modified by the proposed documents are and shall be
enforceable in accordance with their terms not subject to any -
claims, defenses or setoffs in favor of second parties or by
any persons or entities claiming by, through or under any of ~
second parties. This paragraph is not intenc~ed.to cover any
claims, defenses, or setoffs which arise out of facts which -
occur subsequent to the date hereof.
1 d. The Guarantors and first party have agreed that the
liability of the Guarantors under the existing Guaranty given
to Bankers and included as one of the existing instruments, as
~ heretofore reconfirmed is presently and will remain in full
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