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~ MODIFICATIQN AND AMENDMENT TO ~MORTGAGE
Tw?T. WHEREAS, WINDMILL VILLAGE BY THE SEA, INC.. J1 FLORIDA
CORPORATION, w?s exECUTE~ wNU oEL~yEREO T+o CITIZENS BANK AND TRUST COMPANY
IN SARASOTA, A BANKING CORPORATIOti. 3i P4o~!eSpRY NOTE IN THE AMOUNT OF TWENTY
FIVE THOUSAND AND NO/100 ---(~25.000.00) oo~uRS~ OATEO OECEMBER 20, 1968
AN[) FURTHER EXTENDEO ON JUNE ~7 ~ 1969 ANO SECURED BY A MORTGAGE UPON REAL PROPERTY
LOCATED IN ST. Luc~e Cotxrnr, FLORIOA; SAID MORTGAGB BEING RECOROEO IN OFFICIAL
RECORD 900K 175, PAGE 1 ~2G ~ PUBLIC RECORDS OF ST. LlIC1E COUNTY, FLORIWI ~ AND
WHEREAS, l7~iE MORTGAGOR AND THE MORTG/1GEE HAVE AGREED UPON CERTAIti
MODIFICATIONS AND AMENOMENTS TO SAIO NOTE AND MORTGAGE. EFFECTIVE DECEMBER 14,
1969. AND
WHEREAS~ THE MORTGAGOR OWES TH6 MORTGAGEE AT THlS TIME A PRINCIPAL
BALANCE ON SAID LOAN OF TNENTY FIVE THOUSAND AND NO/10O --~~~2S,OOO.00~ OOLlJ~1RS;
AND INTEREST H/1S BEEN PA10 TO DECEMBER 14 ~ f969 ~ AND
WHEREAS, THE MORTGAGOR HAS SUBMITTE[3 T'a THE MORTGAGEE A RECUEST FOR
EXTENSION OF THE INSTALLMENT TO PRINCIPAL tN TH6 AMOUNT OF TNENTY FIYE THOUSAND
AND NO/10O ~~~~S,OOO.00~ DOLL.ARS, WHICH SAID INSTALLMENT IS NOW DUE AND PAYABLE
ANO WHICH REGUEST IS REASONABLE AND ACCEPTABLE T~ THE MORTGAGEE.
NOW ~ THEREFORE. IN CONSIDERATtON OF THE MUTUAL ADVANTAGES AND-BENEFITS
ACCRUiNG TO EACH THE MORTGAGEE AND THE MORTGAGOR ~ SAID NOTE IS HEREBY MODIFIED AND
AMENDED AS FOLLOWS:
1. SAID NOTE IS HEREBY MODIFIED AND AMENDED TO EXTEND THE INSTALLMENT OF
PRINCIPAL IN YNE AMOUNT OF TVNENTY FIVE THOUSAND AND NO~~OO ~~~~$2$,OOO.OO~
DOLLARS~ WHICH WAS DUE AND PAYABLE DECEMBER 14~ 1969, FOR A PERIOD OF
SIX (6~ MONTHS, COMMENCING FROM DECEMBER 14 ~ 1969.
2. IT IS FUR7HER AGREED THAT THE DESCRIPTION IN SAID MORTGAGE WAS VAGUE AND
AMBIGUOUS ANO THE MORTGAGEE WISHES TO CORRECT SAME AND THE MORTGAGEE
HEREBY AMENDS SAID MORTGAGE SO TF1AT THE QESCRIPTIQN THEREIN READS AS
FOLLOWS, TO~WIT.:
THE NORTHERLY ZSO FEET AS MEASURED ALONG STATE ROAD A1A OF GOVERNMENT
LOTS 6 AND 7, SECTION ~ 1 AND GOVERNMENT LOT 2, SECTtON 12 ~ ALL IN TOWNSHIP
! ~ 37 SouTM, RANGE 41 EAST, ST. Luc~E CouNnr~ FLORIDA. LESS THE RIGFiT-OF-WAY
i OF STATE ROAD A ~ A.
f
E .
~ `b 3. SiA1D MORTGAGE IS FURTHER MO~IFIED AND AMENDED TO INCLUDE RELEASE CLAUSE
[ ~ AS FOLlAWS, TO WIT'
l
m MORTGAGEE AGREES TO RELEASE INDIVIDUAI. LOTS AS PLATTED IN PLAT BOOK ~5.
M~ PAGES 1$ AHO ]3A~ PUBLIC RECORDS OF ST. Lucie CouN-nr, FLARIDA. FROM THE
7
~f r,~ ~J MORTGAGE LIEN, PROVIDING MORTGAGE IS NOfi IN DEFAULT~ UPON PAYMENT BY THE
~ ~~t MORTGAGOR OF NOT LESS THEN TWO HUNDRED FIFT1f, AND NO/10O °-~~50.00~
` ~ % DOLI.ARS PER LOT.
;
~ ~d
IT IS FURTHER AGREED THAT THIS MODIFiCAT10N AGREEMENT ANO THE CHANGES MADE E
\ 'V ` HEREBY SHALL NOT IN ANY WAY AFFECT TNE TERMS AND CONDITIONS OF SAID NOTE AND MORTGAGE. i
1 d EXCEPT AS HEREIN PROVIDED, AND MORTGAGOR SHALL REMAIN LIABLE 'in THE MORTGAGEE ON
- ~ SAID ORIGINAL NOTE AND_ MORTGAGE IN EVERY PARTICULAR EXCEPT AS IN THIS MODIFICATION
~ _ AGREEMENT THEIR PROVISIONS ARE CHANGED OR MODIFIED.
~ ~
, IT IS PARTICULARLY AGREED THA,T IN THE EYENT THE MORTGAGOR FAILS TO MAKE
~
- ewv~~~~ AS PROVIDED IN THE ORIGINAL NOTE AND MORTGAGE AS SAME BECOME DUE AND PAYABLE,
~ ~,`l EXCEPT AS HE_REIN MODIFIED. 7HEN AT THE OPTION OF 77iE MORTGAGEE ALL OF THE INDEB7EDNE55
OF THE MORTGAGOR SIiALL BECOME DLJE AND PAYABLE. AT ONCE, AND 'i11E MORTGAGEE MAY PROCEED
~ TO FORECLOSE FOR THAT CAIiSE OR FOR ANY OTHER CAUSE PROYIDED EITHER IN SAID NOTE AND
~
~ MORTGAGE OR IN 7HIS MODIFICATION AGREEMENT.
~ ~ . . .
N WITNESS WHEREOP, WE HEREUNT~ SET OUR HANDS AND SEAL THIS ~ ~
~ DAYOF ECE/~'1Q~/L , A.D. 1969 . ,
~ ~y `~~~t~ '
~ SIGNED, SEALED AND DELIVERED IN 77iE WINDMILL VILLAGE B THE SEA~ •I ,'3 .
~
PRESENCE OF: ~ ~ ~ i ~ :t
' BY: i f'
,
GEO . R~wu~r, P f ~ '
~ A = / • . ~
~ ~ _ ~ f~~
i.~.t~
~ o R r ` T ~•~.~~~ti{~~
~ ~AVG ~O . .•.d t f
QOOK ESTER G. SCHOTT, VICE~PRESIDENT AND
~ _ SECRETARY
~ - " _