HomeMy WebLinkAbout2097 . - . : . . . . . . _ . _
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~t ~ v~ MODIFICATION AND EXTBNSiON AGREEMfiNT
.THIS AGREEMENT made and entered into this 28th day = ~
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of June , 1979, by and between GULFSTREAM ,=z~
BROADCASTING CO., INC., a Florida Corporation (hereinafter called
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Gulfstream), RONALD E. CRIDER and NANCY E. CRIDER, his wife, and '
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ROBERT A. ROBERTS and BARBARA ROBERTS, his wife, (hereinafter cailed s,
~ Guarantors), RONALD E. CRIDER, individuaily, (hereinafter called ~
Crider) and GLOBAL REAL ESTATE INVESTMENT TRUST, a real estate ~
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investment trust organized under the laws of the Commonwealth of
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Pennsylvania (hereinafter called Global).
WHEREAS, on July 22, 1974, Gulfstream,executed and delivered
a Promissory Note to Global Development, Inc., a Pensylvania Corporation,
in the principal sum of Four Hundred Thousand No/100 (~400,000.00) ~
Dollars, together with inter~st thereon at the~rate of fi~fteeri (1S~)
percent per annum, calling for installment payments thereon, which ~
obligation is d~ue and payable in full on July 15, 1979, and whtch
obligation is secured .by a security interest in certain personal ;
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property owned.by Gulfstream as is more particularly set forth
in that certain Security Agreement-between the parties dated
July 22, 1974, recorded at O.R. Book 230, Page 390, of the Public
Record-s of St. Lucie~County, Florida, and is further sscured by
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; . a mortgage on certain real property owned by Gulfstream as is more
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~ particularly set forth in that certain mortgage recorded July 25, ~
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~ 1974, at O.R. Book 230, Page 352,~~ihe Public
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~ Lucie County, Florida, and which/~~t was re- rded at
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~ O.R. Book 231, Fage 735, of the Public Records of St. Lucie County,
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~ Florida; and ~
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F WHEREAS, Global is the successor in interest and owner ~
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~ and.holder of the aforesaid obligation and mortgage and security ~
~ interests securing repayment thereof, by virtue of being the sole
~ stockholder of Global, Inc., a Pennsylvania Corporation, which . ~
~ corporation was voluntarily dissolved in accordance with the laws
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~ of the Commonwealth of Pennsylvania, and which corporation further
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~ was the surviving corporation after merger with Global Development,
~ Inc., which merger was further done in accordance with the laws
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