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MORTGAGB MODIFICATION AGREEMENT -
~ WHEREAS, O. R. MINTON and SHiRI,EY ANN MINTON, d/b/a INDIANOI.A
GROVES, are purchasing from CARL V. RICE, a single adult, the following
described real estate located in St. Lucie County, Florida, to wit:
East ~ of the Northeaet ~ of
Section 27, T~wnship 34 South, ~
Range 39 East. r
Less right of way for drainage
canal and public road,
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and; ;
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WHEREAS, MISSION GROVES,INC., a Florida corporation, except as ~
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hereinafter set out, is the owner and holder of a certain mortgage in the ~
original principal amount of $245,000.00, encumbering the above described -
property, said mortgage being dated September 7, 1963, and having been
recorded the same date in O.R. Book 70, Page 182, of the Public Records
of St. Lucie County, Florida, and;
WHEREAS, MISSION GROVES,INC., a Florida corporation by Assign-
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ment of Mortgage and Note as Collateral Security, dated December 30, 1963,
and recorded January 6, 1964, in O.R. Book 78, Pages 396 - 398, of the
' Public Records of St. Lucie County, Florida, assigned said mortgage as
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~ collateral to KANSAS CITY LIFE INSURANCE COMPANY to secure an indebtedness #
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~ ef $100, 000. 00, payable in ten (10) annual payments of $10, 000. 00 each,
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~ commencing on September 15, 1964, with interest at 6 per cent per annum .
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~ from date, and; ~
~ WI~REAS, a total of $60,000.00 principal has been paid by MISSION
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~ GROVES, INC., a Florida corporation, to KANSAS CITY LIFE INSURANCE COMPANY
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~ reducing the present unpaid principal balance of its indebtedness to
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~ $40,000.00, with the next annual installment of $10,000.00 principal, plus
= accrued interest, due on September 15, 1970, and;
a WI~REAS, ~nder the terms of the purchase contract between O. R.
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ei riiNTON and SHIRLEY ANN MINTON, d/b/a INDIANOLA GROVES and CARL V. RICE,
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~iISSION GROVES, INC., a Florida corporation, agreed to modification of ;
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~ the terms of its said mortgage, and O. R. MIN'~'C)N and S~iIRI~Y ANN MINTON,
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lNSTRUMHNT 'IIRMw!'D ~r f
~x ~ JAMES E. ALL!1~Rti~ i?~t ;
f< BROwy a AwERM,?~.
fr` B07t'14ta . d01 3~1p 1+~, '
FORT PIERCE, t/ORIOA 3;IS0
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