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MORTGAGE MODIFICATION AGREEMENT
WHEREAS, QUEEN'S COVE PROPERTIES, INC., a Florida
Corporation having a mailing address of 404 Colorado Ave.,
Stuart, Florida 33494, did on February 28, 1974, .make,
execute and deliver a certain Mortgage Deed to Lucie Properties,
Inc., a Florida Corporation, which mortgage was recorded in
Official Records Book 225, at pages 1513-1517 Public Records
of St. Lucie County,~Florida, as more particularly described
in said Mortgage Deed as security for original principal
debt of $756,000.00 evidenced by a Promissory Note, which
Promissory Note was set out in said Mortgage Deed; and
WHEREAS, Lucie Properties, Inc., the holder of
said Note and Mortgage Deed, did assign said idote and Mortgage
~ to BROWN BROTHERS HARRIMAN & CO., of 59 Wall Street, New
York, New York 10005, by that certain Assignment of Mortgage
dated September 17, 1975, and recorded September 22, 1975,
in Official Records Book 243, Page 2851, Public Records of
St. Lucie County, Florida; and
WHEREAS, the principal debt has been reduced as of
August 8, 1979, to the amount of $268,500.00; and
WHEREAS, the Mortgage Deed encumbers several
parcels of land, and it is the intention of the parties to
release some of the land from the Mortgage;
NOW, THEREFORE, in consideration of the foregoing
and other good and valuable considerations and the mutual
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SOMMER 8 FRASIER,
P. A.
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