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3. Second parties represent to first party that neither
they nor any of them has or claims any defenses or setoffs
against the total indebtedness owed to first party as evidenced
ay the existing instruments nor have or claim any tights, title
~or interest in and to any of the Lakeview Property or Oceanview
Property, apart from any rights they may have solely by virture~
of the Costa Lakeview Mortgage and the Costa Oceanview
Mortgage, as those terms are defined in the Modification and
Extension of Mortgage and Collateral~Mortgage of even date
herewith, that will not be conveyed or released upon the
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~ 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 intended.to cover any
claims, defenses, or setoffs which arise out of facts which ~ -
occur subsequent to the date hereof.
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~ 4. The Guarantors and first party have agreed that the
liability of the Guarantors under the existing Guaranty given
r to Bankers and included as one of the existing instruments, as
i heretofore reconfirmed is presently and will remain in full
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~ ME~t:NON, iAWYE~1~.lONNSTON, OtlNWOOr i COLE, t600 SOUTHEAST flgsT NATIONAL BANK oUIlO1NO, MIAM1~ /LORIOA »1~1
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