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EXTENSION AGREEMENT
August 3, 1978
THIS AGREEMENT. made the . between the
SUN BANK OF ST. LUCIE COUNTY. A Florida Banking Corporation. party of the
first p~rt. and Jacobson-Rea, Inc. formerly , A Florida Corporation.
party of the second p~rt; s dge, nc. ~
WITNESSETH, WHEREAS, the said party of the second part executed a
certain promissory note dated January 26, 1977Whereby they pramised
to pay to the SUN BANK OF ST. LUCIE COUNTY, party of the Hrst part, on Qr3er
thesum of Twenty Five Thousand and no/100-----------------------
the first payment coming due Januarv 26, 1978
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Interest at 8 3/4$
WHEREAS. the parties of the second part execut~d to the party of the first part.
W secure the above mentioned note, a mortgage on the following described premises,
to-wiG
Fully described in mortgage deed recorded in O. R. Book 263 page
448 public records of St. Lucie County, Florida.
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~ AND WHEREAS, the said party of the first part is now the holder of said note and
~ mortgage and the said parties of the second part are now the owners of the said
~ mortgaged premises , "
NOW TNEREFORE, the said partie~ hereto, for themselves and their assigns,
~ hereby mutually agree that the time for the payment ~::f the unpaid balance
~ of S 25, 000. 00 due on said note be. and the same is hereby extended
~ to be paid in the following manner:
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~ $25,000.00 plus interest due January 17, 1979
~ Interest rate to be 9 3/4$
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- It being expressly understood and agreed that the said Mortgage shall remain in
full force and effect in all respects as if the said payments had originally been paid
' as prc~vided far in the original note, and that nothing herein shall effect or unpair :
~ any rights and powers which the said party of the first part may have thereunder for
the recovery of {he.said rdortgage Debt with interest in the case of rwn-fulfillment ,
of this agreement.
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