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HomeMy WebLinkAbout0447 ~ / ke1 39~0h 6 K- 256 f . MORTv^AGE MOIPIFICATIQN AGREEMENT V~THEREAS, on August 11, 1977, TURTLE REEF ASSOCIATES, INC., as mortgagor, did make, execute and deliver unto JENSEN BEACH BANK, as mortgagee, its mortgage on certain lands lying and being in St. Lucie County, Florida, more particularly described therein, and WHEREAS, on August 18, 1977, the sa.id mortgage was duly recorded ir_ Public Records of St. Lucie County, Florida, in Official Records Book 272, Page 2414, and remains unsatisfied as of this date, although many partial releases therefrom have been executed by the said mortgagee, JENSEl BEACH BANK, and ~,NHEREAS, in the recorded document on page 2426 of said recording, paragraph numbered "8" was deleted from the said mortgage prior to record- ing, and it is the desire of the parties to the sa~d mortgage to amend the , recorded m~rtgage so as to include the deleted paragraph, THE RE FCRE , it is agreed by and between the mortgagor and mort- ~ gagee herein that: ! ~ ~ 1. The recorded mortgage be and the same is hereby amended to 4 ~ ~ include the following: - "8. It is understood and agreed that this mortgage given to ~ ~z secure, in addition to the note or obliga.tion above described, 9 any additional loans or future advances made within 20 years ~ from the date hereof b the mort ee to the said mort a or ~ Y~ ai' or any successor in ti le of said mort~aqor of the property ~ cv~ ~ ~ o~ hereby conveyed; PRCVIDEL~, that the totai unpaid balance of indebtedness secured hereby at any one time shall not exceed ~ ~ the maxirr.um principal amount of Three Hundred Thousand _ Lbllars ($3GO,G00.00), plus interest thereon, and any disburse- _ ~ ments made by the mortgagee for the payment of t~es, levies ' or insurance on the property encumbered hereby, with interest ~ ~ on such disbursements. " ~ 2. Nothing herein is intended to reimpose of affe~t the lien of this ~ mcrtgage on pa.rcels heretofore released by the mort~agee, TENSEN BEACH ~ ~ BANK . ' w. R. scoTr wrTOnNCr wT uw ~ ~ _ 700 COLORADO AV[NY[ sTUART, ILORIDA Q R S ~ ~3~~4 3~GK 2~~ oA~E 4~~ ~ ~ . . . . _ _ . - _ ~.-1: ~ . _ . _ . - ,xi.