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~ wtiich beino thAt ?1ort,;•,~~or f: Tr~.~e t~~ tiic: ~~ut~~olidr,tian of the liens ai t~ic Sc•~~~L~npe
1~9origage, Cntarnuc~:n 11 ?9~.~rtg~ge, S~aseape D~9ortgnge, First Ca~ital ~ forto5ge
and Second Ca~ital :~lortgag~ ir~to ~s single consolldated mortgage encumbering the
Combined Purcels and securing the Seascape I Notes, Catamaran Il Note, Seascape
ll Notes, First CapitAl Note and Second Capital Note;
NO~ti' T}3EREFORE, in consideration of the foregoing, Ten Dollars
~S10.00) and Qther goad and valuable c.onsideration, the reeeipt and sufficiency of
which are hereby acknowledged by each of the parties hereto, the 1~iortgagor and
~ AZortgagee do hereby agree as follows:
E.
~ A. The recitations set out ~~ove are true and correct and
~ constitute a part c~f this Agreetnent.
~ B. R4ortgagor represents and warrants that, as of June 30,
1982, the aggregate principel balance of the aforedescribed notes held by the -
Mortgagee is Nine 14illion Eighi Hundred Thirty Two Thousand Fcur Hundred
. Seventy Seven Dollars and 85/100 (~9,832,477.85), plus interest, that said notes
have attached thereto the applicable cancelled Florida documentary stamps affixed
thereon, or affixed to the mortgages securing said notes, showing the full p~yment
of documentary stsmp tax and intangible tax due thereon or in connection
therewith; and that the MQrtgagor has and claims no defenses, offsets or
counterclairns to any portion of the indebtedness evideneed by said notes. ~
C. That ~ the mortgage lien of the Seascape I Mortgage, -
Catamacan II iVtortgage, Seascape II Mortgage, First Capital Mortgage and Second .
Capit~l Mortgage are hereby consolidated, coordinated and spread so as to form
one consolidated mortgage (the "Consolidated M~rtgage") unto the lrlortgagee
encumbering the Cambined Parcels (all of the real property described in Exhibit
"A" hereto) and securing the aggregate principal balance evidenced by the
aforedescribed nctes of Nine MilIion Eight Hundred Thirty Two Thousand Four
- Hundred Seventy Seven Dollars and 85/100 ($9,832,477.85), plus interest.
~ . D. The terms, covenants and conditions of the Consolidated _
_ Mortgage shall be as set forth in ~he Second Capital Mortgage, ~xcept as follows:
(i)_ _ The Term "Note" wherever same shall eppesr in the
` Consolidated Mortgage shell be deemed to mean the Seascape I NotPS, _
Catamaran II Note, Seascape II Notes, First Capital Note and Second
t~
Gapital Note, individually or collectively.
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