HomeMy WebLinkAbout1126 ' UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
1(
In the Matter of:
GEORGE A. COSTA, et als., ~ In Proceedings for an Arrange-
. ment Under Chapter XI of the
: Bankruptcy Court
Debtors.
. B 76-2704
APPLICATION FOR REMODIFICATION
: OF MORTGAGE WITH SUN BANK OF
ST. LUCIE COUNTY
TO THE HONORABLE D. JOSEPH DE VITO,
BANKRUPTCY JUDGE:
The application of I?iyron S. Lehman respectfully ~ I
s
represents: ~
1. I am a member of the firm of Lehman $ Wasserman,
counsel to the debtors herein.
2. That Sun Bank of St. Lucie County is the holder. of
mortgages covering certain properties owned by the debtors in
St. Lucie County, Florida. Said mortgages were the subject of a
Modification Agreement dated Dfay 31, 1978, which was approved by
an order of this Court dated June 9, 1978.
3. Said agreement required substantial payments
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thirty (30) days after confirmation of the Plan of Arrangement.
That said payments now would appear to~be a burdensome situation
I and could not be paid by the debtors as provided in said Modif-
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~ ication Agreement.
4. Negotiations have taken place between the debtors '
and the former~Receiver on one hand and the Sun Bank of St. Lucie
h s a reed that in lieu
County on the other hand. Said Sun Bank a g
~ of the arrangement for substantial payments after confirmation,
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~ they would be agreeable to an amortization schedule which the
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debtors could meet, both at this time and subsequent to confirma-
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tlon. ~
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