HomeMy WebLinkAbout0589 WHEREAS, STRAZZULLA BROTHERS COMPANY, a partnership and
owner of a certain~mortgage bearing the.date June 20, 1969, and
recorded in Official Record Book 39, page 291, Public Records of
St. Lucie County, Florida, has consented to thi~ mc~dification, snd
.
WHEREAS, KAY TWO and the COMPANY have agreed to modify
the terms and conditions of said note in the manner hereinafter
set forth,
NOW, THEREFORE, in consideration of the premises and of
the mutual advantages and benefits accruing to the parties hereto,
it is agree d:
Z~ m;:g µf~~g ~.~.~~i ~ ~ em, n~,tp ~hAl 1 be mndi fied as
follows:
The Siaty Thousand Dollars (~60,000.00) on
account of principal which is due and pay-
able on July l, 1971, shall be deferred to,
and shall be due and payable on, the first
day of April, 1984, at which time the entire
unpaid principal amount and all unpaid in-
terest shall be paid. Said deferred prin-
cipal payment shall bear interest at the
rate of nine per cent (9x) per annum effec-
tive July 1, 1971. _
All other provisions set forth in said note shall remain the same.
2. That all of the property described in said mortgage
~
f
r shall remain in all respects sub~ect to the lien, charge or
~ encumbrance of said mortgage, and nothing herein contained or
3one pursuant hereto shall affect or be construed to affect the
lien, charge or encumbrance effected by said mortgage, or the
priority thereof over other liens, charges, encumbrances or
conveyances, or to rele ase or affect the liability of any party
or parties who may now or hereafter be liable under or on account
of said note and mortgage.
3. Notwithstanding anything herein to the contrary,
t this Agreement shall not affect or impair any representation
in re gard to and/or warranty of title heretofore set forth in
said mortgage, all of which shall remain in force and inure to
the benefit of the COMPANY.
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