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assigned to RYDER REALTY, INC. in the Third Modification
of Cansolidated Notes and Mortgages; and ~
WHEREAS, RYDER REALTY, INC. desires additional secur-
ity for that certain Purchase Money Note issued to AQUA
RABELLA ASSOCIATES by SOTOLONGO DEVELOPMENT CORPORATION
and assigned and endorsed with recourse by AQUA RABELLA
ASSOCIATES to RYDER REALTY, INC. as partial consideration
for the execution by RYDER REALTY, INC. of the Modification
and Extension of Note and Mortgage dated October 6, 1980;
and
WHEREAS, AQUA RABELLA ASSOCIATES and AQUA RABELLA,
INC. are willing to give such additional security;
NOW, THEREFORE, in consideration of the premises and
the exchange of Ten Dollars ($10.00) and other good and
valuable considerations among the parties, the parties
hereto agree as follows:
1. Simultaneously with the delivery of ful?y exe-
cuted copies of this Agreement, RYDER REALTY, INC. will
execute and deliver the aforementioned Partial Release of
Mortgage of the parcel described at Exhibit "B" and assign,
without Recourse, to RYDER REALTY, INC. that certain Non-
Recourse Purchase Money Note and Mortgage to AQUA RABELLA
c
ASSOCIATES.
2. Upon delivery of the aforesaid Partial Release
and the Assignment, RYDER REALTY, INC. will be paid, by
way of ~ashier's check, the sum of Fifty-Nine Thousand Nine
Hundred Seventy-Two Dollars (5.59,972.00) to be applied
against the principal due under this Promissory Note, as
consolidated, modified and extended from~ time to time.
3. AQUA RABELLA ASSOCIATES and AQUA RABELLA, INC.
hereby agree that this Mortgage, as consolidated, modified
and extended from time to time, shall remain in full force
and effect as additional security for AQUA RABELLA ASSO-
CIATES endorsement to RYDER REALTY, INC., with recourse,
2
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