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MORTGAGE MODIFICATION AND EXTENSION AGREEMENT
THIS AGREEMENT made and entered into this 3~' day
, of May, 1978, by and between LUWELL & ASSOCIATES, LiB., a
Florida Limited Partnership, hereinafter referred to as
"Mortgagor", RICHARD K. WELSHANS, JAMES C. LOVE and ANNELORE R.
~LOVE, hereinafter collectively referred to as "Guarantors"
and MIAMI,NATIONAL BANK, a national bunking association,
hereinafter re~erred to as "Mortgagee"; ~ ~
W I T N E S S E T H:
WHEREAS, Mortgagee is ~he owner and holder of that
certain Mortgage given by Mortgagor to Mortgagee dated .
September 22, 1977 and recorded September 23, 1977 in Official
Records Book 274 at Page 2375 of the Public Records of St.
' Lucie County, Florida, encumbering the real property described
in Exhibit "A" attached hereto and incorporated herein by
~ this reference; and -
i
WHEREAS, Mortgagor has executed a Liortgage Note in the
amount of Five Hundred Fifty Thousand ($550,000.00) and No/100
Dollars dated September 22, 1977 to Mortgagee which is secured
by the above described Mortgage; and ,
WHEREAS, Guarantors have entered into a certain guaranty
with Mortgagee dated September 22, 1977 which guarantees the
payment to Miami National Bank of any and all indebtedness to
it due in connection with the above described Mortgage Note
executed by Mortgagor; and
WHEREAS, Mortgagee has been requested by Mortgagor and
Guarantors to modify the terms of said Mortgage and Note in
the manner hereinafter set forth and to extend the period of ~
said Mortgage, both of which Mortgagee has consented to do;
NOW, THEREFORE, in consideration of the sum of Ten
Dollars ($10.00) and other good and valuable considerations,
the receipt and sufficiency of which is hereby acknowledged,
the parties hereto agree as follows:
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NELLIWEL~. MELROSE b DEWOLF, NINTH F~OOR_ IaO~ BctICKEII AVENUE. M~AM1. FLOf7IDA 3313i • TELEPHONE (305) 373-757~