HomeMy WebLinkAbout0216 interest under the aforesaid 1968 Purchase Agreement to I~iortgagee as
additional colla::eral for all loans and advances made or to be made. to
WINDMILL VILLAGE by Mortgagee~ and
WHEREAS. by the aforesaid Agreement of Collateral Assignn~ent.
WINDMILL VILLAGE agreed that it would execute Supplementa! Mortgage
Deeds to Mortgagee encumbering all additional parcels of land subsequently
acquired under the Purchase Agreement of December 17. 1968, so that the
same ~z~ould be additional collateral for any obligations of 1A'INDMILL
VILLAGE to \dortgagee, and
WHEREAS WINDMILL VILLAGE was subsequently merged into
Viortgagor under that certain Agreement for Vierger, a certified copy of
which is recorded in Official Records ~3ook 186 at Pages 973 through 992
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oi the Official Records of St. Lucie County. Florida, and
~VHEREAS, 14iortgagor is the sole successor corporation to
WI:~1DA-1ILL VILLAGE, and
WHEREAS, Mortgagor has recently exercised its rights under the
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; aforesaid Purchase Agreement of December 17. 1968, by purchasing
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additional parcels of land from ProPerty Management Group, Inc. , and
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~ WHEREAS, ~,4ortgage has caused an additional seven ~7) lots to be
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; included in that property described as Parcel No. 1 in the original
~iortgage Deed previously referred to hereinabove;
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~ WITNESSEiH, That ior divers good and valuable considerations and
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~ pursuant to the agreement of Collateral Assignment of April 3. 1970, and
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~ to induce Mortgagee to continue making advances and/or loans to Mortgagor
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~ under the terms of the Development Loan Agreement, or any other security
' agreement, or financing agreement now existing, or which may at any time
y hereafter be entered into between Mortgagee and WINDNIILL VILLAGES
OF AMERICA, INC. , a Florida corporation, successor~corporation to
~ WINDMILL VILLAGE BY THE SEA, INC. , a Florida corporation, (hereinafter
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PLEASE
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