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MODIFICATION AGREEMENT
STATE OF FLORIDA
COUNTY OF ST. LUCIE
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THIS AGREEI~NT between High and Dry, Inc., a Florida +
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Corporation (Borrower) and SUN BANK OF ST. LUCZE COUNTY (Lender),
WITNESSETH, that
WHEREAS, Lender has heretofore made a loan to Borrower
in the principal amount of Twelve-Thousand-and-no/100 Dollars
evidenced by Borrower's Note in the amount of the loan dated December 11,
1978; and payable at $165.31 per month beginning February 1, 1979;
WHEREAS, Borrower has requested Lender to modify certain
provisions pertaining to the aforesaid loan;
NOW, THEREFORE, in consideration of the premises and other
good and valuable consideration, Borrower agrees with Lender as
follows, to-wit:
Interest only shall be payable to March 1, 1979;
Monthly payments in the amount of $165.31 shall be
due on the first of each consecutive month beginning
April 1, 1979; apply payment first to interest,
balance to principal
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Mortgage Recorded December 14, 1978 in Official Records Book 299,
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pages 2455 through 2458 Public Records St. Lucie County.
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j Borrower hereby authorizes and directs Lender to take
any action necessary to conform the original Note, security instruments
~ and other collateral documents to the terms as herein modified, and
P by these presents accepts and confirms their liability under said
Note, security instruments and other collateral documents, with the
$ terms as herein modified.
Borrower further agrees that the foregoing Modification
shall in no way affect or otherwise release any collateral held by
Lender as security to said Note; but acknowledges and agrees that
all collateral held by Lender as security to said Note shall continue
to secure the Note to the same extent and in the same manner as if
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the foregoing Modification had not been effected.
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