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THIS INSTRUMENT WAS PREPARED BY: MICHAEL A. BERKE, ESQUIRE,
1~
KATES, RESS, GOMEZ AND ROSENBERG, P.A., 1700 Sans So~.~ci
Boulevard, North Miami, Florida 33161 (893-5506).
MORTGAGE MODIFICATION AND EXTENSION AGREEMENT
THIS AGREEMENT made this 3rd day of Decen_ber ,
1973, by and between THE SECOND NATIONAL BANK OF NORTH MIAMI,
a national banking corporation hereinafter called the "Lender";
and BEACH CLUB DEVELOPMENT CORP., a Florida coroporation,
hereinafter called the "Borrower";'
W-I-T-N-E-S-S-E-T-H:
WHEREAS, said Borrower is indebted to the Lender
in the sum of $450,000.00, evidenced by one Note dated
August 30, 1973, which Note is secured by a Mortgage of
;
even date therewith, encumbering that certain lot, piece ~
or parcel of land more particularly described in that
Addendum attached hereto, incorporated by reference herein "
and made a part hereof as if set forth fully and at length, ~
which Mortgage was recordedAugust 30, 1973, in Official
Records Book 218, at Page 435, of the Public Records of
St. Lucie County, Florida; and
WHEREAS, said Lender and Borrower madified
the legal description of the proper•ty encumbered by the ~
above-captioned obligation under the terms of that certain
Mortgage Modif ication dated September 4, 1973, recorded
September 5, 1973, in Official Records Book 218, at Page ~
i
n i
691, Public Records of St. Lucie County, Florida; and ;
;
WHEREAS, there remains unpaid on said Note the ~
: entire principal indebetness of $450,000.00, with interest
thereon from August 30, 1973; and
WHEREAS, it is the desire of the parties hereto
to increase the interest rate of said Note from ten per
- a~cx ~1 ~ac~ ~~'s4 - -
KATES, Ress, GOAfEZ AND ROSP.NfiER6, P. A. ATTORNE'IS AT l}W 170'J SANS SOUC~ 00ULE~/AFD NONTH MIAM1, C~ORIDA 33161