HomeMy WebLinkAbout1130 St. Lucie County, Florida, to secure indebtednesses evidenced
by promissory notes described in said mortgages in the amounts
of $75,000 and $50,000, respectively; and
WHEREAS, the Association is now the owner and holder of
record of the first and second mortgages above described and
the promissory notes secured by same by assignment of mortgages
from Sun Bank of St. Lucie County, formerly St. Lucx.e County
Bank, dated the ~~~day of ~ 1974, recorded in O.R. Book
aa~ , page ~~of the public records of St. Lucie County,
Florida; and
WE~REAS, the balances, both principal and interest, of the
indebtednesses evidenced and secured by the two promissory notes
and mortgages above described as of the date hereof are as
follows:
First Mortgage $ 75,000.00
Second mortgage 50,000.00
Total 125,000.00
WHEREAS, the parties hereto have agreed to consolidate
the two mortgage liens and the respective indebtednesses by each
secured and to modify the term of the consolidated debt in the
same manner and to the same effect as though a single promissory
note evidencing the aggregate debt, at the rate of interest here-
after specified, and a first mortgage deed securing the same were
I
executed by Gulf-Atlantic and delivere3 to the Association;
NOW, THEREFORE, in consideration of the sum of Ten Dollars
($10.00) to each in hand paid, the receipt whereof by each of the
parties is to the other hereby acknowledged, and other good and
valuable considerations inuring one to the other, it is mutually
understood and agreed as follows:
1. For value received, Gulf-Atlantic Investments of Fort
Pierce, Inc., a Florida corporation, promises to pay, without .
defalcation, to the order of Citizens Federal Savings and Loan
Association of St. Lucie County, at its office in Fort Pierce,
Florida, the sum of $125,000 with interest from date at the
-2-
FEE, PARKER 8c FEE, P. A. '
t
ATTORNEYS AT LAW
POST OFRIGE BOX 1000
FORT PIERCE. FLORIDA 93460 I)
TEIE~XON[< <soa~ 4s~-aozo BOQK(.?~ i PAGE~
, y~,;~°,.~;;,".......,.-...- ,
- ~.a-~,a«.7s.- ~r:<t . _ . . - - - - - - -
s
.,t~„~~.~-~~i ~
_ -