HomeMy WebLinkAbout0992 further notice, Assignees aball have the continuing option
ta enforce payment of all sums secured her~by by acti~n at
l~w or by suit in equity t~ foreclose this mortgage, either
or both, concurrently or otherwiae, and one action or suit
shall not abate or be a bar to or w~iver of the right to
institute or maintain the other, provided, nevert~eless,
that the pursuit af multiple remedies may result in only one
payment snd satisfaction of said indebtedn~ss.'
3.3 To gffirm that paragraph 13-A refers to a ,
securfty interest only and is without force or effect unless ,
there occurs a default in the Promissory Note or Mortgaqe. .
3.4 As to paragraph 16 to eliminate the
requirement of "an annual certified audit of the operation '
of radio station WFTP-AM,• it nevertheless being understood
that the same statements as shall be provided t~ the owners
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of radio station WFTP in the ordinary course for the
purposes of op~rational control and evaluation will be .
furnished to the mortgagee, such to include an income s
statement and balance sheet provided no less than semi- ~
annually. Further, Mortgagee shall have the opportunity to
;
review such financial records as are necessary to the ~
preparation of the aforementioned statements."
4. Said Mortqage Modff ication Agreement is hereby
modified: -
4.1 To delete paragraph 5 in its entirety.
4.2 To delete paragraph 6 in its entirety.
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