HomeMy WebLinkAbout0593 ~
~
WHEREAS, STRAZZULLA BROTHERS COr1PANY ~ a partnership and
owner of a certa3n 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 this ncodificat3on,
and •
WHTREAS, KAY TWO and the COMPANY have agreed to modi ~
the terms and conditions of said note in the manner hereinafter
set forth,
NOW, THEREFORE, in consideretion of the premises and of
the mutual advantages and benefits accruing to the parties hereto,
it is agreed: ~
1. The aforesaid promissory note shall be modified as
follows:
The Sixty Thousand Dollars ($60,0OO.OU) on
account of principal which is due and p~y-
able on Jul~r 1, 1971, shall be dsferred to,
and shall be due and p~yable on, the first
day of April, 298b, at wh~.ch t3a~ the entire
unpaid principal amount and all unpaid in-
terest shall be paid. Said deferred prin-
cipal payment shall bear inter~est 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 sa~e.
y
2. That all of the property described in said mortgage
shall remain in all respects sub~eet ta the 2ien, charge or
encumbrance of said mortgage, and nothing herein contained or
done 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 release or affeet the 13ability of any party
or parties who may now or hereafter be liable under or on accourit
of s ai d note and mortgage .
3. Notwithstanding anything herein to the contrary,
r
this Agreement shall not aPPect or impair any representation
in regard 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.
-2- • i
~Q~202 ~E 593
~