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EXTENSION AGREEMENT
THIS AGREEI~iENT. made the November 4, 1975 , betwaen the SUN BANK
OF ST. LUCIE COUNTY, A Flerida Bar~king Corporation. party of the 8rst part, and
Lakeside Gardens,Inc. and M-W-G Corp. , P~'~es of the second part;
WITNESSETH. WHEREAS, the said parties of the second ~art executed a certain
promissory note dated ~g~Pmt~er 7. 1972__ . Whereby they promised to pay to the
SUN BANK ~F ST. LUQE QOUNTY. party cf the 5rst part. ~~order the sum of
One Hundred Fifty Thousand and no/100---------------------(5150.000.00)
the first payment coming due Nov h r~ 7 97~ -
It~terest at 8
WHEREAS, the parties of the second part ~acecuted to the party of the Hrst part, tn
secure the above mentioned note, a mortgage or~ the following described premises,
to-wit:
From the NW-corner of the NE ~ of Section 27, Township 35 S, Range 40 E,
St. Lucie County, Florida, run North 88°54'20" West along the North
line of said Section 27 a distance 152 feet to the easterly right-of-way
of U. S. Highway No. 1; therice run South 00°O1'08" East along the Easterly
right-of-way of U. S. Highway No. 1 a distance of 922 feet to the point
of beginning; thence run South 88°54'20" East a distance of 2733.21 feet .
to the east boundary of lands owned by mortgagor; thence run South along
Mortgagor's East boundary 300 feet, thence run West on a line parallel to
the North line of Section 27 to the easterly right-of-way of U. S. Highway
No. l, thence run North along said right-of-way 300 feet to the point
of beginning.
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- Mortgaqe recorded November 8, 1972 in O. R. Book 208,
. Pages 145, 146, 147, 148 in the Public Records of St.
Lucie County, Florida.
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~ AND WHEItEAS, the said party cf the first part is now the holder of said note and
~ mertgage and the said parties of the second part are now the owners of the said
~ mcrtgaged premises,
~ NOW THEREFORE, the said parties hereto, for.themselves and their assigns, hcreby
~ mutually agree that the time for the payment of the unpaid balance af 75, 000. 00
~ due ~n said note be, and the same is hereby extended tu be paid in the follawing manner:
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~ $75,000.00 plus interest due on February 1976
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' It being expressly understood and agreed that the said Mortgage shall remain in
full force and effect in all respects as if the said payments had originally been
~ paid as provided for in the cri~inal note, and that nothing herein shall effect or
impair any rights and powers which the said party of the first pZrt may have thereunder
" for the recovery of the said tyiort~age Debt with interest in the case of non-fulfillment
e of this agreement .
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