HomeMy WebLinkAbout1198{
MOATGAGS AMENDMENT AND RSLBASS AGRNT
MADE this ,~ day of ~Gy,,i„_, _..,,,_, 1969,
ATLANTIC CONDQKINIUM3 INCORPORAT$D, a Florida corporation, called
Mortgagor in this instrument, and ST. LUCIS COUNTZ BANE, Fort
Pierce, Florida, a Banking Association of the State of Florida,
called Mortgagee in this instrument;
WHBRSIN, in consideration of the payments to be made to the
Mortgagee under the provisions of this Agreement and in consideration
of the releases of mortgaged property to be made for the benefit of
the Mortgagor it is agreed as folloxs:
(1) Mortgagee is the oxner and holder of that mortgage
given by Mortgagor to Mortgagee, said Mortgage attached hereto
and made a part hereof, covering the lands described in the. mortgage
attached hereto.
(2) Mortgagee acknoxledges that this Mortgage betxeen the
parties s®cures financing from the Mortgagee of a condominium kaoxn
as the INLET HOUSE CONDOMINI~I, developed by Mortgagor, and Mortgages
agrees to join in the ezecution of the proposed Declaration of
Condominium of the INLET HOUSE CONDOMINIUM APAAT1KB~iTS. That as a
sysult of such proposed joinder, the lien of the Mortgage rill be
amended to cover only the folloxing described condes#ain~ parcels
in the INLET HOUSE CONDCMINIUM APARTMENTS, St. Lucie County, Florida:
All of the apartments, (Units 1 through
20) maids' rooms and common elements of
the INLET HOUSE CO~iDCl~iINIUM APAA~ISNTS ,
according to the proposed Declaration of
Condominum of the INLET HOUSE CONDQKINIUM
APAAII~NTS .
(3) That the I~tortgagor, if not in default under the terms of
the Mortgage and the Note secured by it, the Mortgagee rill release
apartments and proportionate cona®on elements sad maidat~rooss and
all personal property contained in then Yrom the lien of the Mort-
gage, xhea there has been paid upon the principal debt secured is
~~~.79 ~~~g?
~.~