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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 August 26, 1974 make, execute
and deliver a certain Mortgage Deed to LUCIE PROPERTIES,
INC., a Florida Corporation, which mortgage was recorded in
Official Records Book 231, at Pages 2589-2591 of the Public
Records of St. Lucie County, Florida, and which Mortgage
Deed encumbered certain real property in St. Lucie County,
Florida, as more particularly described in said Mortgage
Deed as security for original principal debt of $505,000.00;
and
~ WHEREAS, Lucie Properties, Inc., the holder of
said Note and tortgage Deed, did assign said Note and Mortgage
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to BROWN BROTHERS HARRIMAN & CO., of 59 Wall Street, New
~ York, New York 10005, by that certain Assignment of :iortgage
dated September 17, 1975, and recorded September 22, 1975,
in Official Records Book 243, Page 2850, Public Records of
St. Lucie County, Florida; and
WHEREAS, said Mortgage Deed made provision for
annual payments, including interest at 9$; and
WHEREAS, both parties acknowledge that no principal
or interest payments have been made to date;
NOW, THEREFORE, in consideration of the foregoing
and other good and valuable consideration and the mutual
SOMMER ~ FRASIER,
P. A.
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