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MODIFICATION AGREEMENT
STATa OF FLORIDA
COUNTY OF ST. LUCIE •ti
THIS AGREEMENT between _ Jacobson-Rea, Inc. formerly
Jacobson Dodge, Inc.
(Borrower). and -
a
SUN BANK OF ST. LUCIE COUNTY (Lender),.
N I T N S S S E T H, that
MHEREAS,,Lender has heretofore made a loan to Sorzower
in the principal amount of Twenty-five-thousand-dollars----
( $-25, 000.00 )
evidenced~by Borrower's Note in the amount of the loan dated
January 26, 1977 : and
WHEREAS, Borrower. has requested Lender to modify certain
provi$ions pertaining to the aforesaid loans
NOW, THEREFORE, in consideration of the premises and
other good and valuable consideration, Borrower-agrees with
Lender as follows, to-wits
Mortgage deed recorded Jan. 26, 1977 In O. R. Book 263, page 448
in Public'Records of St. Lucie County, Florida with E~ctension
Agreement recorded Aug. 9, 1978 in O. R. Book 292-page 197 in
Public Records of St. Lucie County, Florida and Extension
Agreement recorded Feb. 2, 1979 in O. R. Hook 302 page 2181 in
public Records of St. Lucie County, Florida.
$25,000.00 ( Twenty-five-thousand-dollars ) plus interest shall
be due and payable January l7, 1981;
Interest rate 13$ per annum.
Borrower hereby authorizes and directs Lender to take any
action necessary to conform the original Note, security instru-
ments and other collateral documents to the terms as herein
modified, and by these presents accepts and confirms their
liability under said-Note, security instruments and other col-
~ lateral documents, with the terns as herein modified.
Borrower further agrees that the foregoing Modification
' shall in no way affect or otherwise release any collateral held
by Lender as security to said Note= but acknowledges and agrees
that all collateral held by Lender as security to said Note shall
continue to secure the Note to the same extent and in the same
.manner as if•the foregoing Modification had not been=effected.
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