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MORTGAGE MODIFICP.'I'iON AGREEMENT 3~~~G~
This Agreement made this 31st day of May, 1977, by and
.
between 8& B MACHINE SHOP, INC., a Florida corporation with
its principal place of business~at 3245 Okeechobee Road,
Fort Pierce, Florida 33450, hereinafter referred to as
"Borrower" and THE SUN BANK OF ST. LUCIE COUNTX, a Florida
banking corporation with its principal place of business at
111 Orange Avenue, Fort Pierce, Florida 33450, hereinafter
referred to as "Lender".
W I T N E S S E T H:
WHEREAS, on the 20th day of December, 1973, Borrowfer
borrowed the sum of $40,000.00 from Lender and executed and
delivered to Lender its promissory note for said amount ~
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bearing interest at the rate of eight and one-half percent
(8 1/2$) per annum and payable in one hundred and,twenty
(120) consecutive monthly installments of $495.95 each,
` comwencing on March 12, 1974; and ,
E WHEREAS, the indebtedness evidenced by the afore*Rentioned
~ $40,000.00 promissory note is secured by a first mortgage
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~ given by Borrower to Lender on the following described lands
in St. Lucie County, Florida:
Lots 8, 9, 10, 11, 12, 13 and 14, Block 2 of
PALMER TERRACE, as per plat of said subdivision
recorded in Plat Book 3 at page 86 of the public
records of St. Lucie County, Florida, less and
except all existing public roads thereover;
ALSO, That certain former alley lying between Lots
13 and 14 on the South and Lots 8, 9, 10 and 11 on .
~ the North, all in Block 2, of PALMER•TERRACE, as
~ per plat thereof recorded in Plat Book 3 at page
86 of the public records af St. Lucie County,
~ Florida, heretofore conveyed to party of the first
~ part by the City of Fort Pierce; and
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ALSO, Lot~ 10, 11, 12, 13, 14, 15 and 16, Block 5
of FAIRLAWN SUBDIVISION, as per plat thereof
recorded in Plat Book 6 at page 5 of the public
records of St. Lucie County, Florida, less and
excepting all existing public roads thereover.
and BO~K ~1h7 PACf ~s3 t
NCIIL dRIFrIN J[riN1ES i LIOYD , ~
CMAR7EA[O
P O BOIt 1270. ~01iT MERCE. fLORIDA 7J450 - tEItPNONE (j05) ~64-6200