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HomeMy WebLinkAbout2175 Thlt instrusrNM P~Wied bn ,y HARRY TEMPxIN3 • . A^~~~Q ROTHENBERQ. aREtti ~ NEWMAM. PA I~iaj C7 A7'['C~RNL'YS AY ~AW 430 llncop? Ro~d d11~n~1 Mach. i lorWa 33139 ~ MODIFIGATION OF MORTGAGT This Modification of Mortqage is made and entered into this day of , 1974 , by and between LARE LUCI$ ESTATES , INC hereinafter referred to as Mortqagor, and ROYAL AMERICAN REALTY. INC., hereinafter referred to as Mortqaqee. W I T N E S S E T H: 1. WHEREAS, I,ARE LUCIE ESTATES, INC. executed a Mortgage Deed which was.filed on August 16, 1971, in Official Records Book 194, at Page 2411 of the Public Records, St. Lucie Gounty, Florida. 2. WHEREAS, the parties hereto agree it is to their mutual interests to amend said Mortgaqe Deed. - NOW, THEREFORE, in the swn of Ten ($10.00) Dollars and other good and valuable consideration, and the mutual covenances and promises as stated herein, the parties agree as follows: 1. Number 2 of the Rider attached to said Mortgage made by ~ LAKE I,UCIE ESTATES, INC. to ROYAL AMERICAN REALTY, INC. as recorded in Off icial Records Book 194, Page 2411 on August 16, 1971, in the Public Records of St. Lucie County, Florida, is hereby modified and amended ' as follo~rs by adding the following language: I ~ "Notwithstanding any other provision contained herein, Mortgagee agrees to grant randam, non-contiguous r~leases of th~ same sized lot or . parcel offered to prospective purchasers by Mortgagor, which have legal efficacy up to the time of the final judgment in the event of mortgage foreclosure. The payment of such releases made by the Mortgagor shall be based on $1,272.00 per acre or fraction thereof for the lots or ; parcels to be released, the ~aount a~ tt:~ rPl~ase price shall not exceed i 50$ of the sales price of the offe~ed lot with such release payments to apply against the n~xt accruing principal installment due on the promis- sory note secured thereby. The purpose of this provision is to comply wi}.h the requirements of the Division of Florida Land Sales, Department of Business Regulation of the State of Florida." 2. Any provision of the Mortgage being in conflict with the above stated paragraph shall be considered null and void and the aforesaid paragraph shall be considered controllinq. -1-- eoex2`31 ~?c~~17'~ ROTHENBERG, GREEN S NEWMAN, P. A. ATTORNEYS AT LAW 420 I.~NCOLN ROAD M~AMI BEAGH, ~LORIOA ~r ~ . i '°~i~h~£~. ~'~f _ .»r _ .