HomeMy WebLinkAbout1560 Thia Instrument Was Prepared 6y i1 ~
• And should be returned to:
499305 f`EWIS F: CRIPPEN
GUNSTER. YOAKIEY. CRISER & STEWART
l•ROFESSIONAI ASSOCIATION
Fkst National bank t3uild~ng
073180 MORTGAGE MODIFICATION AGREEMENT Palm Beach, Florida 33480
/THIS MORTGA MODIFICATION AGREEMENT, made and executed this ;
~ ~~l day of , 1980, by CECIL E. PRESCOTT
and VERNICE PRESC T, his wife, as to 37 1/28= ROBERT J.
SCHLICHTER and HELGA SCHILCHTER, his wife, as to 50$; and LAURA B.
HANCOCK, a single adult, as to 12 1/2$ (hereinafter collectively
referred to as the "Mortgagee"), and CALMONT CORPORATION, a Dela-
ware corporation (hereinafter referred to as the "Mortgagor"),
WITNESSETH:
WHEREAS, the Mortgagee is the owner and tiolder of a certain
Mortgage Deed executed by Luis A. Cata, a married adult, and Louis
Noa, a married adult, dated August 31, 1978 and recorded in Off i-
cial Record Book ,293, page 1666, public records of St. Lucie
County, Florida (hereinafter referred to as the "Mortgage"); and
WHEREAS, the Mortgage encumbers certain real property lying
and being, in St. Lucie County,• Florida and legally described in
Exhibit A attached hereto and made a part hereof; and
WHEREAS, the Mortgage secures a certain Promissory Note, of
•
even date, in the original principal amount of $88,750.00 (herein- ~
after referred to.as the "Note"); and
WHEREAS, the Mortgagor and the Mortgagee have agreed to mod-
i ify certain terms of the Mortgage and of the Note, all as herein-
f
after set forth.
NOW~THEREFORE, in consideration of Ten Dollars and other good
f and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the ~rties hereto hereby modify the_
Mortgage as follows:
R '
1. Effective as of July 19, 1980, the unpaid principal bal-
ance of the Note-shall bear interest at the rate of ten percent
(10$) per annum. •
2. The remaining principal balance of the Note shall be
i
paid as followss ~ •
X338 P~15~8
YF~ y- _