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Block 1, of AT~N WILSON GROY~ PI.~T~ as per plat thereof recorded in
Plat Book 12~ page 50 of the Public Records of St. Lucie County, Florida.
It beinq the intention of the parties that the effect of this
Aqreemen~ shall be the same as if the third party held a first 2iortqage
to secure the swn of 520,000.00 with interest~on Tract A and a first
Mortgage to secure the sum of 520,000.00 with interest on Tract B.
RAiD IT IS HSR~BY MUTUa1LLY COVEN~NTSD AND ~GR~D between the
parties hereto that the first party and the second party shall have
the privileqe to make without premium, partial prepayment of principal
subject to the limitation that not more than 54,000.00 may be prepaid
by each party durinq any twelve-month period computing from July l,
1967; said privilege to prepay shall be on a non-cummulative basis
and to be exercised only on the due dates above specified. No such
partial prepayment shall relieve the first party or the second party
from having to pay th~ regular installments of principal and interest
above specified. .
AA1D IT IS HSREBY FURTHER l~iiJ~.'UALLY COVTNI~?NTSD AND AGRESD be-
tween the parties hereto that the Note and Isortgaqe dated April 25~
1966, and all the terms~ conditions and provisions thereof, including
notwithstandinq anythinq heretofore provided - but not limited to,the
obligation of the first party to pay the total principal and interest,
as provided herein, be and the same hereby are ratified and confitmed
except as expressly modified by this Aqreement. The second party
asswaes and agrees to pay on the terms herein above provided only the
apportioned principal sum of 520,000.00 and interest at 6-3/4~ per
annwa from the date hereof . ~
IN~WITNESS WHEREOF, the first party and the second party
have hereto set their hands and seals and the thizd party has caused
this instrument to be executed by its Second Vice President and attested
by its 1~?ssistant Secretary and its corporate seal is to be hereto "
affixed as of the date of this instrument.
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Second Party First Party -
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' SLUE GOOSfi G S INC. t~ ~~~~ii
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F Edward A. Doolan Presic~ =
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, ~~~X.u O ATTEST ' • 4 :
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riary P. Doolan C~,.,~ Secret~'••:. Pv`;
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Third Party
~ W. Thomas Davis
THE IP'$ INSURIINCE
COI~P Y
~ By
~~~Vice President phillip S Twombly
~
1~?TT ST
Assistant Secretary
( CORP . -SE~L )
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