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87-1032-76 <br />remain as security for the payment of all sums due and owing under <br />the Note and this agreement. Specifically; and not by way of <br />limiting the foregoing, the consent of Champlain Valley to the <br />conveyance of the Deed of Trust property and assumption of the <br />obligations under the Note and Deed of Trust shall not constitute <br />a consent to any further conveyance thereof or waiver of any <br />rights of Champlain Valley under paragraph 23 of the Deed of <br />Trust. Champlain Valley expressly reserves the right to <br />accelerate the Note in the event there is any future change in the <br />ownership of the real estate securing the Deed of Trust, by sale, <br />either outright or by land contract, or by assignment of any <br />interest therein or of Teak or otherwise. <br />7. It is the intent of the parties hereto that the original <br />borrower, Grand. Island South Investors, shall remain liable for <br />the indebtedness due to Champlain Valley, and that the liability <br />of Grand Island South Investors and of Ronald C. Krauss, Vada M. <br />Krauss, Gary L. Leece, Marlene Leece, and John P. Chudy under <br />Guaranties of said indebtedness shall be joint and several with <br />and in addition to that of Teak. <br />TEAK ASSOCIATED INVESTMENTS, INC. <br />f <br />Attested 8Y:� By sk. — <br />c . tary William Boy tFi- <br />President <br />CHAMPLAIN VALLEY FEDERAL SAVINGS AND <br />LOAN ASSOCIATION <br />By/ ✓ <br />Its <br />S <br />