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I'!1!d INSTRUMENT PREPAREp BY: •
RCF3ERT L. MCLLEN, 11 t - 49t~',. 1 •
AKERMAP~, G~P~ f Citi i i T & t:I~SON
17TH FLOOR CNA 8UILUING • P. U. 6UX 231 -
ORUW00, FLORIOJI 32802
NOTICE OF FUTURE ADVANCES
T I NOTICE OF FUTURE ADVANCES, made as of this ~ day
of , 1980, by and between WTWV, INC. , a Mis~~/s`~is~afppi.
corpora o Mor gagor) and~SUN FIRST NATIONAL BANK OF-ORLANDO,
a national banking association (Mortgagee);.
• WITNESSETH:
WHEREAS, Mortgagor executed and delivered a mortgage (the
Mortgage) to Mortgagee of certain property situated in St. Lucie
County, Florida, which Mortgage was recorded in O.R. Book 321,
Pages 2251-2259, Public Records of St. Lucie County, Florida,
said property more particularly described in the Mortgage; and
WHEREAS,. the Mortgage secures payment of the Promissory
-Note referred to therein (the Note); and -
WHEREAS, Paragraph No. 16 of the Mortgage provides that
Mortgagee. may at its option make .future advances provided that the
aggregate amount of indebtedness evidenced by the Note and any notes
issued pursuant to this Notice shall not exceed at any time the
maximum principal amount of two times the amount of the Note, plus
interest thereon; and
WHEREAS, Mortgagee has agreed to make future advances on
the terms and conditions set forth herein, but not otherwise.
NOW, THEREFORE, in consideration of the premises, the parties
hereto hereby agree as follows: .
1. In order to evidence the future advances contemplated
hereby, Mortgagor has executed and delivered to Mortgage a note
~ (Future Advance Note)•in the original principal amount of One
Million Dollars ($1,000,000.00), dated the date hereof, which
Future Advance Note bears a final maturity date of December 31,
1990.
2. The Future Advance Note shall be disbursed by Mortgagee _
~ to Mortgagor in accordance with the provisions of that certain Loan
Agreement between the parties, dated as of October 25, 1979, as
! amended, the Mortgage, this Notice and the Future Advance Note.
3. The term "Note" as used in the Mortgage shall include
~ within its meaning the Note secured by the Mortgage, the Future
~ Advance Note and each of said notes shall be secured by the Mortgage
to the same extent as if such notes had been executed and delivered
by Mortgagor to Mortgagee on the date of the Mortgage.
4. This Notice of Future Advances shall be binding upon
the parties hereto and their respective successors and assigns.
IN WITNESS WHEREOF, Mortgagor has caused this Notice of -
Future Advances to be duly-executed as of the day and year first
above set forth. -
Signed sealed and WTWV, INC . ~
E de13.~red in the pres ce of : - j~?f~=~' ~
- By s its Pres t -::r t ~ ,
~ s
d' w-- - _
. (Corporate Sea~~ ~ - - ' . -
~ STATE OF FIARIDA ' - - -
~
COUNTY OF ST. I~JCIE ~ ~
I HEREBY CERTIFY that on this day, before me, an officer ~
~tR
ao~335 P~~.341
F -