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MORTGAGE MODIFICATION AGREEMENT
THIS AGREEMENT, made and entered into this ~_day of
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1979, by and between JAMES J. PARDIECK, AS TRUSTEE,
1850 Palm Beach Road, Stuart, F2c:rida 33! 9~: , heret..oiror
referred to as "Mortgagee" and OCEAN DUNES DEVELOPMENT
CORPORATION, a Florida corporation, 10044 State Road A-1-A,
Jensen Beach, Florida 33457, hereinafter referred to as
"Mortgagor",
W I T N E S S E T H
WHEREAS, Mortgagor executed and delivered a promissory
i
note in the original principal sum of $525,000.00 to Mortgagee,
which note was secured by a certain purchase money mortgage to
Mortgagee dated November 15, 1978 and recorded in Official
Records Book 298, pages 1515 through 1517, inclusive, Public
i
Records of St. Lucie County, Florida, encumbering the following
described real property, to-wit:
The South 200.00 Feet as measured along the Easterly
right of way line of S. R: A-1-A, of the following
described parcel:
All that part of Government Lot 2, Section 12, Township
37 South, Range 41 East, lying Easterly of S. R. A-1-A,
• less the Northerly 430.00 feet, as measured along S. R.
A-1-A, and less the Southerly 506.00 feet, as measured along
S. R. A-1-A, more particularly described as follows:
Start at the point where the South line of said Govern-
ment Lot 2, intersects the centerline of S. R. A-1-A,
said starting point being 774.41 feet S 89°55'46" E from
the Southwest corner of said Section 12; thence run
N 23°49'31" W, along said road centerline, a distance
of 506.00 feet for the point of beginning; thence continue
to run N 23°49'31" W, along said road centerline, a distance
of 506.88 feet thence run N 89°56'22" E a distance of 549.63
feet, more or less, to the waters of the Atlantic Ocean;
thence, meandering said waters, run a distance °f 504.00
feet, more or less, to the point of intersection of said
waters with a line which bears S 89055'46" E, from the point
of beginning; thence run N 89°55'46" W, along lastly said
line, a distance of 540.41 feet, more or less, to the point
of beginning, LESS right of way of State Road A-1-A.
and,
WHEREAS, the Mortgagor has requested the Mortgagee to extend
and modify the terms and conditions of the above-described note
ao~K3~.y PacE~~~