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released by Trustee. This paragraph is not intended to
conclusively establish the value of the Oceanview Property.
d) In the event that Bankers and Trustee shall have
subordinated the liens of either of the mortgage and the
respective purchase money mortgage to a construction mortgage
loan as contemplated in the proposed documents, Bankers and
Trustee agree that if a default occurs under such construction
loan mortgage and is cured by-Bankers, and is the only default
under the Bankers mortgage, Bankers will give Trustee notice
.that it has paid the construction lender and thereby cured a
j monetary default or that it has performed so as to cure a
non-monetary default and Trustee shall have thirty (30) days
from the giving of such written notice by Bankers during which '
they may reimburse Bankers for all costs and expense incurred
by Bankers in connection with the curing of such default
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whereupon it is agreed that the default otherwise occasioned
under Bankers r:ortgage shall be cured.
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e) In the event of a default under the Oceanview ~ ~
Mortgage or the Lakeview Mortgage, as modified and to be
modified, and which default is not limited to a default under a
construction loan to which such mortgage has been subordinated,
~ Bankers agrees to give Trustee the same notice and o
pportunity
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to cure the mortgage held by Bankers as is granted to the
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OR
~~342 P~1844
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M[RSMON, SAMl1/[R, JOHNSTON, OUNWODY i COL[, Id00 SOYTMEAST /IRST NATIONR.I oANK OUIL~INO, MIAM1, FLORIDA »I~I
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