HomeMy WebLinkAbout0869 b'
21U~2~
MORTGAGE RELEAS~S ADDBNDUM
THIS ADDENDUM, executed this ~ day of ce,~ ,
1971, by and between LAKEWOOD-VERO BEACH, INC., a Fl rida '
Corporation, Mortgagor, and LAKEWOOD PARR REAI,TY COMPANY, INC., a
Florida corporation, Mortgaqee, both under that certain mortgaqe ~
dated Septemb~r 21, 1970, and recorded at O. R. Book 187, Page
1106, of the Public Records of St. Lucie County, Florida,
W I T N E S S E T H:
WHEREAS, the above mentioned mortgage encumbers the
following described uroperty: (See attached Exhibit "A" for
legal description~;.and
WHEREAS, Mortgagor is registering these lands for sale
to the public with the Florida Land Sales Board, pursuanlt to the
requirements of Ghapter 478, Florida Statutes, and
WHEREAS, the Florida Land Sales Board, by its regulatior,s,
requires that mortgages encumbering properties which-are offered
' for sale to the public contain release provisions which have
~ legal efficacy up to the final decree in the event the mortgage is
foreclosed, and
WHEREAS, Mortgagee desires to provide Mortqagor with
rel~ase provisions that will comply with the regulations of the 1
Florida Land Sales Board,
NOW THEREFORE, Mortgagee agrees that in consideration of
the foregoing and in order to make it possible for Mortgagor to
comply with the regulations of the Florida Land Sales Board, that
the above mentioned Mortgage is hereby modified to provide that ~
the release riqhts granted to the Mortgagor shall be of full
effect up to the entry of a final decree in the event that Mortgage
i
is foreclosed.
Page 1 of 2
aooK 1 ~3 SFS