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MORTGAGE MODIFICATION AGREEMENT t
"THIS IS A $ALLOON MORTGAGE AND THE FINAL PAYMENT
OR THE BALANCE DUE UFON MATURITY IS $40,440.68,
TOGETHER WITH ACCRUED INTEREST, IF ANY, AND ALL
ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS
OF THIS MORTGAGE." {
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AGREEMENT made between EDGAR A. GAUDETTE, of the City of Port St.
Lucie, Florida, and COLLEEN MOORS, formerly COLLEEN GAUDETTE, of the
City of West Palm Beach, Florida, herein referred to as Mortgagees, and
IGNAZIO BIONDO and BARBARA J. BIONDO, his wife, of 1300 Seaway Drive, ,
Apartment D-4, Fort Pierce, Florida, herein referred to as Mortgagors.
The parties recite and declare that:
a, The Mortgagees are the holders of a certain Promissory Note,
conditioned for the payment of FORTY SIX THOUSAND FIVE HUNDRED DOLLARS
($46,500,00), made by Mortgagors, dated September 15, 1976, and .due on
October 15, 1996.
b, Such Note is secured by a mortgage on real property and a
chattel mortgage on~personal property, filed and recorded on September 29,
1976 in the public records of St. Lucie County, Florida, at Official
Records Book 258, page 221, and Official Records Book 258, page 224,
respectively, which mortgages are now a lien on the real and personal
property of the premises known as Biondo's Restaurante', 217 Orange
Avenue, Fort Pierce, St. Lucie County, Florida, the legal description
of the real property being more particularly described as follows:
The West 30 feet of Lot 3, Block J of TYLER'S
RE-SUBDIVISION of Lots_ 1, 2, 3, and E 1/2 of
Lot 4, Block J according to plat recorded in
Plat Book 1, page 169 of the records of St. Lucie
County, Florida.
EXCEPTING, THEREFROM, the following described land:
Begin at the Northeast corner of said Lot 3, run
Westerly along the Northern boundary of said Lot 3
a distance of 20 feet for point of beginning; run
thence Southerly a distance of 72.1 feet along the
Easterly boundary of land owned by Louette R.
Nottingham shown in Deed recorded in Deed Book 105,
page 266, public records of St. Lucie County,
Florida; run thence Westerly a distance of 5 1/2
inches along the Southerly boundary of the building
hereinafter mentioned, parallel with the Northerly - .
boundary of said Lot 3; thence run in a Northerly -
direction along the Westerly boundary of said
building hereinafter described to point of beginning,
. being that portion of land owned by Louette R.
Nottingham on which the building is located on the
East 20 feet of said Lot 3 is located. }
c, That the parties have been engaged in litigation before the
Circuit Court of the Nineteenth Judicial Circuit, in and for St. Lucie
County, Florida, Case No. 77-121-CA, concerning the aforementioned
mortgages and other contractual agreements between them.
d. That in consideration of a settlement of the aforementioned
litigation, Mortgagors and Mortgagees covenant and agree as follows:
1. That upon signing of this Agreement, Mortgagors shall pay
to Mortgagees the sum of TWO THOUSAND and NO/100 ($2,000.00) DOLLARS.
2. That following payment of the above sum, there will be due
and-owing on the'aforemenrtioned~note and mortgages the principal sum of
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