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~ ' MODIFICATION AND BXTBNSION
. OF ' -
MORTGAGS ' ~~~~1
AND COLI.~TSRAL M~RTGAGB '
TBIS AGREBMBNT, made this~~. day of ,
197?, by and betwee~ BANKBRS TRUST COMPANY, a New York Ban ng
corporation (hereinafter referred to as "Mortgaaee"), LUCIGI.B
V. COSTA, INC., (hereinafter referred to as "LVC") LUCILLB V.
COSTA (hereinafter referred to as "Titleholder"), GEORGE A.
COSTA a~d JOSEPH R. MCMA80N (hereinafter referre~ to as
"Receiver"),~ their-heirs, successors and assigns
W I~T N E B S S E T 8: ~ • ~
RSC ITALS
A. - Mortgagee did make a mortgage loan (hereinafter
~ referred 'z~ as "Loan") to LVC, which Loan was secured
by a certain mortgage given by LVC to Mortgagee dated ~
!larch 20, 1974 and recorded in Official Records Book
225 at Page 570, Public Records~of St. Lucie County,
Florida (herei~after referred to ~s "Mortgage"),
, which Mortgage encumbers inter alia certain real '
property particularly described on Exhibit 1 attached -
hereto and made a part hereof and the improvements
thereon; and ~
B. The Mortgage secures an indebtedness in the original
principal amount of 51,000,000.00 as evidenced by a .
Promissory Note (hereinafter referred to as -
"Promissory Note") executed by LVC in favor of
Mortgagee dated March 20, 1974; and
C. Titleholder and George A. Costa were Guarantors of
the Promissory Note; and, . ~
C D. In order to provide additional security to Mortgagee
~ ~ for the Promissory Note, Titleholder and George A.
' , Costa executed a Coll•ateral !lortgage ( hereinafter
` o calleii "Collateral Mortgage' ) in favor of t~ortgagor,
~ ; which Collateral Mortgage was aated May 13, 1974, and '
o` , recorded in Official Records Book 227, Page 1694
r~ ~3 ' s- _ Public Records of St. Lucie County, Florida and
~e} ~ " encumbered inter alia certain real property
particularly described in Exhibit 2 attached hereto
~ and made a part hereof; and
6 ~yM • '
E. Hortgagor is in default under the terms of the
x~~ Promissory Note and has no set-offs, defenses, or
~ ~ ~ ~ ~ounterclaims against Mortgagee; and .
o _
, ~ F. By deed dated May 13, 1974 and recorded in
y~ Official Records eook 227 Page 1694 , St. Lucie
~ County, Public Record s, LVC conveyed title to the
W~ a property described on Exfiibit 1 hereof to Lucille V.
~ Costa; and
~ G. Titleholder is the present owner of fee simple title
to the property described on Exhibit 2 hereof; and
8. LVC, Titleholder, and George A. Costa-have sought
relief under Chapter XI of the Federal Bankruptcy Act
j which proceec~ings are presently pending in the United ~
Thia instrument was prepared Dy
BRIAN P. TAGUE
~ , i MERSHON, SAYIIYER, 10HNSTON. DUNWQOY 8 CG~ E 8~K ~~f ~1f~1
1600 S. E. First Nat'I Bar.k ~~~vV
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