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MORTGAGE MODIFICATION AGREEMENT
THIS AGREEMENT, made this l~~ day of October A.D., 1979, - f
by and between SUN BANK OF ST. LUCIE COUNTY, a Florida banking
corporation, existing under the laws of the State of Florida,
with mailing address of P. 0. Box 8, Fort Fierce, Florida 33450,
hereinafter referred to as "Mortgagee", and ARNOLD BASLOW,
EVAN BASLOW, and ROLF HENTSCHEL, hereinafter referred to as
"Mortgagor", ,
W I T N E S SET H: t
WHEREAS, Mortgagee is the owner and holder of a mortgage
and indebtedness secured thereby executed by Mortgagor and
described as follows:
Mortgage dated December 29 A.D., 1978, securing
$80,000.00, to SUN BAb'K OF ST. LUCIE COUNTY, as
Mortgagee, and ARNOLD BASLOW, EVAN BASLOW, and
ROLF HENTSCHEL as Mortgagor, the document recorded in
O. R. Book 301 at Page 290 of the Public Records of
St. Lucie County, Florida, said mortgage encumbering
real property in St. Lucie County, Florida, more
particularly described as follows:
"The West 49.b5 feet of the South 370 feet
of the North 400 feet of Lot 3; and the
South 370 feet of the North 400 feet of
Lot 4. LESS and excepting therefrom the
West 78 feet for U . S . ~~1. WHITE CITY
SUBDIVISION, in Section 3, Township 36
South, Range 40 East, as recorded in Plat
Book 1, page. 23 of the Public Records of
St. Lucie County, Florida." f
WHEREAS, a frame building is presently located in and
about the northeast corner of subject property, which frame
building under the terms of the said mortgage is required to
be insured, and that said insurance is at very high rates in
light of the age and construction of the building, and
WHEREAS, the Mortgagor desires the Mortgagee to release ~
. the existing improvements from the term of Paragraph 5 and
Paragraph 7 of the herein described mortgage.
NOW, THEREFORE, in consideration of the sum of
sn~x 339 DACE 1332
IJIMT OCPICES OP SIC HARD D. SPEED. JS., P. A.. 700 VISGItiIA A~'E\CE. SCITE 104-SC\ HANH HLDO., Pi. PIESCE, TLOSiDA 3GY160 (a05) 465-P;190