HomeMy WebLinkAbout0628 (d) Al1 of tha Accrued Interest shall become due and
• payable at maturity. ~
(e) Principal and interest may be prepaid in whole
or in part at any time a~d from time to time
. Mithout pe~alty. .
- 3. Titleholder and George A. Coata ~gree that the
indebt~Gness and all obliqations of the Promissory .
Note as modified by the Modification oF~~Promisaory
Note is secured by the Mortgage as modified by this
!lodificatfon and Bxtension of Mortgage and Collateral
Mortg age, with the same force and effect, and in the
same manner, ex tent and priority as prior to the
execution and ~lelivery hereof.
d. Titleholder and George A. Costa agree that the
i~btedness and all obl igations of the 'Promissorjr _
Note as modified by the Modif'ication of Promissory .
Note is secured by the Collateral~Mortgage as
modified by this Modification and Extension of _
~ .!lortgage and Collateral Mortgage, wfth the same force
and effect and in the same manner, extent and
priority as prior to the exQcution and delivery
hereo€.
5. This Agreement shall not be construed as a waiver,
express or implied, of any rights of Mortgagee under
the Mortgage or the Collateral Mortgage as the same
have been modified hereby, or any other instruments
under which Mortgagee claims rights in connection
with the Loan, unless expressly set out herein.
6. Titletiolder and George A. Costa each jointly and
severally warrants to Mortgagee that:
(a) the property encumbered by the iKortgage and
' particularly described in Exhibit 1 bereto is
not encumbered other than for the lien-of the
~ ~lortgage as modified hereby and the lien of that
; certain first mortgage given by Titleholder and
~ ~ George A. Costa to New Jersey Realty dated
E October 17, 1973 and recorded in Official
~ Records Book 220, at Page 2870 and rerecorded in
Official Records Book 221 at Page 1149, bo~h in
Public Record s of St. Lucie County. Florida and '
LVC and Titleholder warrant and represent that
• the New Jersey Mortgage as of the date hereof
has an approximate outstanding principal balance
of $1,442,434 and that the total accrued and ~ ;
unpa d interest thereon is approximately ~
$ 151,15~.31 . ~
(b) the property encumbered by the Collateral
Mortgage and particularly described on Exhibit 2
hereto is not encumbered other than for the lien
~ of the Collateral Mortgage as modified hereby.
7. Titleholder and George A. Costa agree that the ~
Collateral Mortgage shall cantinue to constitute
additional security for performance of all - ~
~ obligations as contained in the Mortgage as modified
hereby and/or in the Promissory Note as modified and ~
that a default in any of the terms and conditions of ;
~ the Mortgage as modified and/or the Promissory Note `
. _3_
BOOK ~7~, P1{~GE 6'~.
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