HomeMy WebLinkAbout1315 • This instrument prepared dy
~ - 2~~~~ . Tracy N. Mf ller
3445 Peachtree Rd.N.E. Atlanta,
Ga. ~
SECOND MODIFICATION AGREEMENT
Thi s agreement, made and entered into this ~ day of - ,
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1972 by and between Andrew Ellison, Successor Trustee, of Broward Cour~ty, Florida
("Ellison"), and Holiday Out in America at St. Lucie, Inc. ("Holiday Out"). a
Florida corporation;
~ STATEMENT OF FAC7S
1. On auly 25th, 1967, Holiday Out entered into a Martgage Qeed with A, Paul
Young as Trustee, said Mortgage Deed being recorded in 0. R. Book 167, pages 2238
through 2242 ("Mortgage No. 1");
2. On July 25, 1967, Holiday Out entered into a Mortgage Deed with A..Paul
Young, 7rustee, said Mortgage beinq recorded in 0. R. Book 167, pages 2243 throuqh
2248 ("Mortgage No. 2");
3. On June 16, 1971 Noliday 0ut entered into a Modification Agreement ("Mod-
ification Agreement") with Ellison, modifying Mortgage No. 1 and Mortgage No. 2;
4. ihe parties hereto desire to more fully clarify their respective obliga-
tions and rights under Mortgage No. 1, Mortgage ~fa. 2 and Modification Agreement:
AGREEMENTS
Irr consideration of Ten (~10.00) Dollars cash in hand paid,~the premises and -
other valuable considerations, the receipt and sufficiency of which are hereby ac-
knowledged, Ellison and Holiday Out hereby agree as follows:
l. Ail of the real property shawn on Plat entitled "Holiday Out in America
at St. Lucie, Inc.~ executed by St. Lucie County on September 12, 1967, and filed in
Plat Book 14, page 28, public records of St. Lucie County, and all of the real prop-
erty shown on Plat called "Holiday Out in America at St. Lucie; Inc., executed by
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! St. Lucie County on October 15, 1968, and filed in P~at 8ook 14, Page 44, public
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f records of St. l.ucie County, Florida, not now released from lien of said Mortgage
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~ "to. 1, Mortgage No. 2 and Modification, said real property being listed on Exhibit 'A:
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e attached hereto and made a part hereof, shall be released from said lien as foltows:
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` a. Any lot shown on said~piats, irrespective of its size and contiguity with
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any other iot released or unreleased, will be released upon payment to Elli-
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' son of $1,000.00.
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? b. Any release requested on a lot pursuant to the provision of Section 'a'
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s hereof shall be granted up to the date of any final decree of foreclosure pur-
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= suant to Mortgage No. 1 or Mortgage Yo. 2 as modified by Modification Agree-
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" ment.
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~ c. Any lot not shown on Exhibit 'A' hereof is hereby released from the lien
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~ of Mortgage No. 1, Mortgage No. 2 and Modification Agreement and the recording
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