HomeMy WebLinkAbout0395 . to the aforesaid Sun I3ank of Sl. Lucie County as collateral security there[or
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the aforesaid Mortgage Deed.
5. 5T. LUCIE CABINETS, a partnership. the aforesaid
Mortgagors, in consideration of the sum of $10.00 in hand fo them paid,
the receipt of which is hereby acknowledged, does hereby release and give
up its right to a Mortgage Subordination from the aforesaid Mortgagecs only
insofar as concerns Parcel Second of said Mortgage Deed and described
more particularly as follows "Second; The East 277. 6 fect of lhe West .
307. f~ fcel of the ~iorth 150 feet of Lol 9, .1 . I. KELLEMS SUBDIVISION,
according to the Plat thereof recorded in Plat I3ook 3, P.age 85 of the Public ,
Records of St. L.ucie County, Florida." but in all ~ther respects retains,
and maintains ils said right to said Morlgage Subordination to Parcel First
as described in the aforesaid Mortgage Deed.
6. The parties hereto do further acknowledge that the
release to the right of the Subordination as herein cecied and granted by the
said Mortgagors shall be in force and, effect only until sucli time as the ~
aforesaid Note to the Sun Bank of St. Lucie County shall t~e due and payable
from the said Mortgagees, and upon payment in full thereof, this Nlortgage
j Modification Agreement shall terminate forlh~vith under its o~rn terms. In
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~ this connection, in the e~~ent the aforesaid Mortgagees shall be in default
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at any time in the payment of the aCoresaid Note, Morlgagors shall ha~~e the
right and privilege to apply any payments due the said Mortgagees under the
aforesaid Mortgage ~iote and I~iortgage Deed to the Sun Bank of ~t. Lucie
County and have the same apply in full to their aforesaid Martga~;e
indebtedness.
I\ WITNES5 W~-iEREOF, the parties have hereunto set their
; hands and seals the day and year first above-mentioned. '
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~ ST. LUCIE CABI~'ETS, a partnership
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~ HQ,oid H. Gotd?r,or, ~ Fran S. L- oupe
~ ~TTpRNEY-AT-LAW . f .
p:~ze s. F.e..oi ~y. Hy ~ e
~ P, sr. luci~, ia. 334s2 _ _
~ Thomas W. Petrillo
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