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have heretofore and are concurrently herewith being modified=
and
b) In the event.Bankers or its designated nominee,
following a default under the Oceanview Mortgage heretofore and
to be modified, shall acquire a deed in lieu of foreclosure
from the owner of the property or shall file a foreclosure
. action, the lien of the Costa Oceanview Mortgage shall within
sfcty (60) days thereafter cease and be of no further force and
. _ effect-so that the title so acquired bylBankers Trust Company
shill not be subject to the lien of said purchase money
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mortgage. In furtherance of this agreement that is being made
~ as additional consideration for the consent of Bankers to the
sale of the subject property as contemplated in the proposed
~ documents and the modifications of the `Mortgages held by
eagkers and the re-instatement of the Note secured thereby that
t
is presently in default, Trustee has deposited with Bankers a
satisfzction~of the Costa.Oceanview Mortgage that may be
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recorded by Bankers sixty (60) days after the recordation of a
~ deed in lieu of foreclosure in conveying the Oceanview property
~ to Bankers or sixty (60) days. after the filing of a foreclosure
action by Bankers against the Oceanview Froperty and Trustee
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also agrees that in furtherance of the agreements contained in
this ara rah the will execute such add io
~ p 9 P Y it nal documents as
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~ ~~~342 Pd~E~865
MERSNON,SAWII[R~JONNSTON~OUNWODr ~ CO~E.Id00 SOUTHEAST FIRST NATIONAL 6ANK OYILOINO,MIAM1,/lOR1pA 77171
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