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' This instrument Prepared 6y~
' ~ ~ JOHN A. DARLSON, ESQ.
L C~OM'~ Barranco. Uul;on. Ganm16 Btuesleuy P./`
Vt7 ` p, p, F, ox 2315
959 S. f rsca al Hwy. ~ ~ /
Stwrt. flor~ds 33~9~
MORTGAGE MODIFICATION AGREEMENT
F
1
THIS AGREEMENT, made and entered into this 7th day of
November, 1979, by and between AMERICAN BANK OF MARTIN COUNTY,
a Florida Banking Corporation, 4313 U. S. Highway 1 South,
Stuart, Florida 33494, hereinafter referred to as "Bank"-and
VICTORY CONSTRUCTION, INC., a Florida Corporation, whose address
_ is Post Office Box 209, Stuart, Florida 33494, hereinafter re-
ferrec~ to as "Mortgagor".
- W I T N E S S E T H
t
f
WHEREAS, Mortgagor executed and delivered a note in the -
original principal sum of $280,000.00 to Bank, which note was ?
secured by a certain mortgage to Bank dated February 14, 1979
and recorded in Official Records Book 303, Page 1091, Public
Records of St. Lucie County, Florida, encumbering the following
described real property, to-wit:
SEE EXHIBIT "A" ATTACHED HERETO AND MADE A PART HEREOF.
and
WHEREAS, the Mortgagor has requested the Bank to modify
f the terms and conditions of the above-described note and mortgage;
f and -
f WHEREAS, the Bank has agreed to modify the terms and conditions
of the said note and mortgage pursuant to this Modification Agree-
. i
ment.
NOW, THEREFORE, in consideration of the sum of TEN DOLLARS i
($10.00) and other good and valuable consideration in hand paid
to Bank by Mortgagor, receipt of which is acknowledged, the parties
s hereby agree to modify and amend the above-described mortgage as
~ follows: ~
1. Upon execution of this Agreement, Mortgagor shall pay
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i
to the Bank the sum of $97,200.00 in principal reduction of the
present. principal balance of the mortgage in the amount of
$280,000.00.
2. Further, upon execution of this Modification Agreement,
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