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MORTGAG$ MODIFICATION AGREEMENT '
TAIS AGREEMENT, Made this ~3 ~ day of ~?+?rEM~3~~ , 1975,
by and between DR. SIDNEY RACHI~IN, NATELL$ RACI~,IN and SAUL FRANKSL,
a/k/a SOL FRANI~L, and BSRNICE FRANI~L, his wife, hereinafter called
Mortgaqees, and PEBBLE FIILL BUILDING CORPORATION, a New York corpora-
tion, hereinafter called Mortgagor;
W I T N E S S 8 T H: -
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WI~REAS, Mortgagor•has executed certain promissory notes
secured b,y mortgages to the Mortgagees, encumbering certain real
property situated in St. Lucie County, Florida, said mor~gages
being de§cribed as follows:
Mortgage to Dr. Sidney Rachlin dated March 15, 1974
and recorded in Official Record Book 226, Page 2012;
Mortgage to Natelle Rachlin dated March 15, 1974 and
recorded in Official Record Book 226, Page 2008; and
Mortgage to Saul Frankel a/k/a Sol Frankel, and
Bernice Frankel, his wife, dated March 15, 1974 and
recorded in Official Record Book 226, Page 2004, all -
in the Publ-ic Records of St. Lucie County, Florida,
encumbering property situated in St. Lucie County
described as follows:
The East Three Iiundred Fifty (350) feet of Lot Eight
(8) of I~LLEM'S SUBDIVISION, as per the Plat thereof
j on file in Plat Book 3, at Page 85, of the Public
Records of St. Lucie County, Florida, less and except-
ing that part thereof heretofore conveyed for public
road right of way purposes.
i WI~REAS, Mortgagees and Mortgagor wish to modify said
mortgages to cause the March 15, 1975 payment to be made on the
follawing basis: a payment of interest only in the amount of
$7,520.00 which payment was made on April 3, 1975, a payment
equivalent to one-third (1/3) of the principal due on March 15,
1975 to be made on August 15, 1975 and the balance of the principal
E
payment due on March 15, 1975 together with interest thereon to be
made on March 15, 1976.
NOW, THEREFORE, in consideration of the mutual covenants
and conditions contained herein, as well as the sum of $10.00, in
(I~ia instrument prerarcd .
~ r~<<'~~` ~%~~Jon - RETURN TO: CRO~dWE! REM5EIH.
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