HomeMy WebLinkAbout0405 ~
1
FOREBEARANCE AND MODIFICATION AGREEMENT
Cross Mortgage Deed dated 19 October 1973, recorded
Reference: in OR Book 220, page 1953, et seq, St. Lucie
County, Florida Public Recordsf Assignment of
Mortgage Deed, dated 12 September 1974, recorded
in OR Book 232, page 1292.
Property: The South 500 ft. of CORAL COVE BEACH, SECTION
ONE, lying Easterly of the East right-of-way
line of State Road AlA, said South 500 feet
being also described as Tracts C, D, E, F, and
the South 1/2 of Tract G, CORAL COVE BEACH, ~
SECTION ONE, as per plat thereof as recorded
in Plat Book 11, Pages 30A and 30B, of the
Public Records of St. Lucie County, Florida.
TOGETHER with all furniture, fixtures and
equipment placed thereon or therein during
the existence of this mortgage, including but
not limited to furniture (including, but
not by way of limitation, beds and bedding,
draperies, chairs, televisions, kitchen
equipment, etc.), fixtures and equipment
located in the lobby, motel rooms, restaurant
lounge and pool areas or elsewhere on the
premises of the above described property,
which, together with the foregoing realty,
is hereinafter sometimes referred to collec-
tively as "said Property."
s
. ~r~ ~
THIS AGREEMENT, effective as of „T~~ 1979, by~and
among LIBERTY LIFE INSURANCE COMPANY, a South Carolina porporation,
its successors and assigns (hereinafter referred to as "Liberty"), ~
BEARS NEST, INC., a New Jersey corporation (hereinafter referred to j
~
i as_"Bears Nest"), GEORGE A. COSTA and LUCILLE V. COSTA (hereinafter ~
I
sometimes collectively referred to as "Costa").
I
W I T N E S S E T H
I
° WHEREAS, on November 7, 1973, St. Lucie Enterprises, Inc., a
~ ~
Florida corporation, executed and delivered a Promissory Note in the
principal amount of $2,140,000 to First National Bank of Ft. Pierce,
t
Florida, (said Promissory Note sometimes hereinafter referred to as
"Said Note") and, to secure payment of Said Note, St. Lucie Enter- ~
- !
prises, Inc., Lucille V. Costa and George A. Costa, collectively~as
Mortgagors, executed, and on November 7, 1973 delivered, to the
First National Bank of Ft. Pierce, Florida a Mortgage Deed which was
recorded on November 7, 1973 in Official Records Book 220, page
1953, of the Public Records of St. Lucie County, Florida, (said
Mortgage Deed hereinafter sometimes referred to as "Said Mortgage"),
which created a first Mortgage Lien encumbrance on said Property,
and
BOCK J~~ PAGE