HomeMy WebLinkAbout1956 306~251
MODIFICATION AND CONSOLIDATION AGREEMENT
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This agreement made and entered into this ~~day of
~1Gj~,h , 1975, by and between AQUA RABELLA, INC. , a
Florida corporation, and AQUA RA, INC., a Florida corporation, and ~
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AQUA RABELLA ASSOCIATES, a Florida partnership, hereinafter called
the "Mortgagors" and WINDMILL VILLAGES OF AMERICA, INC., a Florida
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corporation, hereinafter callefl "Mortgagee", '
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W I T N E S S E T H: f
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WHEREAS, The Mortgagors were indebted to the Mortgagee in
the original principal sum of Seven Hundred Forty Three Thousand
~ Forty Seven and 71/100 Dollars ($743,047.71), as evidenced by that ;
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certain promissory note dated July 1, 1972, said note having an s
un aid balance of , and which is secured ~
F 604.266.93 ~
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by that certain mortgage dated July 1, 1972 and recorded in Official ;
Record Book 204, Page 101 of the Public Records of St. Lucie County -
Florida, and,
WHEREAS, the.Mortgagors were also further indebted to the }
l~iortgagee in the original principal sum of One Hundred Fifty Four ~
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II~ Thousand and NO/100 DollarS ($154,000.00~, as evidenced by that ~
f certain promissory note also dated July 1, I972, said note having ~
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~ an unpaid balance of 549.502.15 , and which is secured ;
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~ by that certain mortgage dated July 1, 1972 and recorded in Off~cial ~
~ Record Book 204, Page 116 of the Public Records of St. Lucie County ~
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~ FZorida, and, ~
WHEREAS, Mortgagee i.s now the owner and holder of said notes ~
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~ and mortgages, and ~
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~ WHEREAS, the Mortgagors have assumed that certain mortgage ~
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~ dated December 23, 1968, executed by P~operty Management Group, Inc.,
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~ in favor of Phillip Wei,ner, as Trustee and which mortgage is recorded ~
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~ in Official Record Book 174, Page 2902 of the Public Records of ~
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~ St. Lucie County Florida and which has been assi~gned to William H. ;
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~ Watson, as Trustee, and E
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~ WHEREAS, the parties hereto wish to consolidate and modify ~
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