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, MODIF`ICATION AND EXTENSION AGREEMENT
, THIS AGREEMEVT made and entered into as of the.2nd ; ~
,day of FebruaXy,1976, by and between TRUCANE SUGAR CORPORATION, a ~
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~`lorida corporation, party of the first part, hereinafter referred ~
to as "Mortgagor", and THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE .
UNITED STATES, a New York corporation, party of tlie second part,
.~'hereinafter referred to as the "Society". ~
~ ~9 I T I~ E S S E T H . i
~ WHEREAS, the Society is the owner and holder of the'
following mortqages and of the notes secured thereby, to-wit:
(a) The note of Trucane Suqar Corporation to
~ the Society in the original principal sum of ~
FIVE FiUNDRED THOUSAi1D DOLLARS ($50J,000.00), '
secured 'vy a first mortgage dated February
19, 1975, filed Feliruary 20, 1975, and
recorded in Official Record Book 236, paqe ~
1804, Public Records of St. Lucie County, .
Florida,
(b) The.note of Trucane Sugar Corporation to
t:~e Society in the principal sum of TWO
- HUNDRED FIFTY TH~iJ3~fl DOLLARS ($250,000.00),
of even date herein secured by a second mort-
gage in li~e amount, also of even date here- ;
with, covering the same security described ~
' in the aforesaid first mortgage, which said
second mortgage is to be recorded in the
County of St. Lucie, Florida, immediately
- prior to the recording of tnis agreement,
' and t'~ere being presently owing on said note ~
! ~ the entire principal ba~ance of TWO AUNDRED
f FIFTY THOUSAND DOLLARS ($250,000.00), and x
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~ «iEREAS, tne Society, t~e owner and noZder of t'~e ~
~ said notes aiid ti?e nortgages securing them, and Trucane Sugar Cor- s
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~ poration, the owner in fee simple of the property described in said
mortgages, are desirous of modifying, consolidating, co-ordinating
and extending the terr.is of said notes and of the mortgages securing
tue.-n in t.ze manner and form iiereinafter appearing, and ~
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VOW, THEREFORE, i;~ consideratior. of the premises ~
and of the mutual agreenents ~ierein contained, t~`~e said parties
:~ereto mutually covenant and agree as follows:
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~ ~ 1. T:~at the ti:;~e of payment of said principal
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~ ~uris evidenead ~y tne aforesaid notes and the r.~ortgages securing
~ thera, as modified by this agreement, hareby is extended so tnat the
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total co:nbinad princi~al indebtedness of SEVEN HU:dDRED FIFTY THOUSAND
Prepar~d by and return to: ~
John S. Call, Jr.
Post Office Box 229
Palm Beach, Florida 33480 ~ ;
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