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<br />gp.~... ~0~1~7 <br />itapr4vemertts, Seller shall be under no obligation to release <br />namey from the Fund ar make advances under the Second Mortgage as <br />to the contract in question until such defaults have been cured. <br />5.. The oeccurrence of any one or more of the following <br />shall at the option of the Seller and upon notice from the Stller <br />to thi Buyer., constitute an event of default: <br />(a) Any judgment shall have been levied against <br />brand. Island Mall and shall continue unstayed in effect <br />for a period of ten (tt3) dayst <br />(b) Buyer shall have failed to observe and perform <br />eaLh and erery one of the terms, covenants, promises and <br />agreements on its part to be observed and performed under <br />this Agreement or under any note and mortgage held by <br />Seller. <br />flpon the occurrence of any of the above-mentioned <br />events of default, the Seller may exercise any and all of the <br />follorinq rights and remedies as it in its sole opinion may deem <br />nectsaary: <br />(a) Subject to applicable notice ar grace provisions <br />under the Second tortgage dtclare immediately due and payable <br />ail monies advanced undtr-the Note held by it which are then <br />ungaid with ail arrtaragts and interest in accordance with <br />accelerated payment thertof notwithstanding contrary terms of <br />g~yment stated therein. <br />(b) Bzereise any right undtr any note or mortgage held <br />by the Selltr as therein provided in the event of any default. <br />In all outer respects the Fund Agreement does hertby <br />remain in full force and efftct. An executed copy a€ the Fund <br />Agreaawnt and this Amendment thereto shall be attached to and <br />made a part of the Secrsnd Mortgage and be recorded simultaneously <br />-11- <br />