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CONSOLIDATION AND SPREADER AGREEMENT ?
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THIS AGREEMENT, made as of May 23, 1973 by and between FIRST ~
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WISCONSIN NATIONAL BANK OF MILWAUKEE, herein called "the Bank", and
FORT PIERCE CONSTRUCTION CORPORATION, a Florida corporation, herein
called "the Borrower".
WHEP.EAS Borrower is owner of certain real estate identified
as Parcels A and B~in Exhibit A attached hereto, located in Fort
Pierce, Florida, the legal description of which is fully set out on
the attached Exhibit A; and the Bank is the present owner and holder
of two Promissory Notes and Real Estate Mortgages securing the same,
more particularly described as follows:
a. A certain Note by Borrower to the Bank dated May 30, 1972 in the
original principal amount of $2,200,000.00, secured by a Mortgage
of even date conveying a first lien on said Parcel A, which Mort-
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~ gage was recorded June 19, 1972 in Official Record Book 203, page
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~ 1332 of the Public Records of St. Lucie County, Florida.
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~ b. A certain Note made by Borrower dated May 23, 1973, in the ori- ; _
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ginal principal amount of $180,200.00, secured by a First Mortgage
of even date, conveying a First Mortgage on said Parcel B, which
Mortgage was recorded , 1973 in Official Record #
r Book , page D of the Public Records of St. Lucie
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~ County, Florida.
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WHEREAS, the Bank and Borrower have mutually agreed to con-
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solidate the aforementioned indebtedness and the liens of said Mort-
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gages so as to constitute a single indebtedness secured by a single
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First Mortgage lien on all of the real estate described on the :s
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~ attached Exhibit A for the principal sum of $2,380,200.00, ~
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