HomeMy WebLinkAbout1806 Mortgage dated March 20, 1974, from Costa Inc. to Bankers
Trust Company, recorded on March 22, 1974, at Official Fecords
Book 225, Page 570, of the Public Records of St. Lucie County,
Florida, and modified and extended by Modification and Extension
of Mortgage and Collateral Mortgage dated June 8, 1977, recorded
on July 19, 1977, at Official Records Book 271, Page 626,
of the Public Records of St. Lucie County, Florida, securing
as of the date hereof, the principal amount of $1,300,00.00
plus accrued interest thereon through June 30, 1980.
NOW, THEREFORE, for Ten Dollars and other good and
valuable considerations received by the mortgagee, mortgagee
hereby agrees as follows:
1. Mortgagee agrees to give Bankers a written notice of
any default or event of default under the Consolidated Mortgage
as Modified, whenever notice of same is being given to The
Sands Lake View Development, a Florida Partnership, or under the
Modification Agreement.
2. Bankers shall have the same period of time as The
Sands Lake View Development have pursuant to Paragraph 6.01
of the Modification Agreement to cure said default or event
of default and the Mortgagee agrees to accept performance from
{ and on behalf of Bankers .
f
j 3. Mortgagee agrees that Bankers shall always have the
_ same rights and the same time periods to so cure as said
The Sands Lake View Development which rights and periods
shall never be less Chan those provided for in the *~odification
Agreement.
4. The rights herein granted shall inure to the benefit
of any subsequent holder of_ the Bankers Trust Company mortgage.
IN WITNESS WHEREOF, this agreement has been duly executed
as o the day and year first above written. -
~ MIDLANTIC NATIONAL BANK
~ IT
By ~ /2~~ ~ ~
` _ . our ce err ~ K.
' _E Vice President and Senior
Mortgage Officer
$x342 P~E1805
-2- , ,
_ . ~ _