HomeMy WebLinkAbout0661 SERVICE AGREEMENT
Vi. / _
THIS AGREEMENT, dated this Z~ ~ day of Ja•c.
1979.
WHEREAS, the undersigned, GEORGE A. COSTA, an
individual d/b/a NORTH BEACH WATER COMPANY, (hereinafter
sometimes called Water Company) is an individual owning that
.certain utility business on the North Beach, Ft. Pierce,
St. Lucie County, .Florida, which business provides water to
certain portions of said area, including the following
described real property, to wit:
The South 500 feet of Tracts C, D, E, F and G,
of CORAL COVE SUBDIVISION, SECTION ONE, lying in
Section 25, Township 34 South, Range 40 East,
as recorded in Plat Book 11, Page 30A $ B, St.
Lucie County, Florida, as more fully described in
the survey of Surveying Services of Fla., Inc.,
dated 9/12/72, together with the right to the
unobstructed use of the Atlantic Ocean water front
which comprises the East boundary thereof, subject
to the rights, if any, of the public and all state
and governmental agencies to said water front.
WHEREAS, the aforesaid utility business is a public
utility, regulated by the Public Service Commission of the
State of Florida and as such operates pursuant to the
regulations, conditions and terms as set .forth by that
regulatory body; and
WHEREAS, Liberty Life Insurance Company, a South
Carolina Corporation, (hereinafter sometimes called Liberty
.Life) is the owner and holder of a certain mortgage lien
on the above-described real property with improvements
thereon, which mortgage was dated on or about November 7,
1973, was recorded at O.R. Book 220, Page 1953, of the
Public Records of St. Lucie County, Florida, and which
mortgage holder has or will enter into a Forbearance and
Modification Agreement with BEARS NEST, INC., a New Jersey
Corporation and George A. Costa and Lucille V. Costa, his
wife, pursuant to which Liberty Life Insurance Company is
agreeing to forbear on certain immediate rights of enforcement
under the terms and conditions of its mortgage lien; 'and
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