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MORTGAGE MODIFICATION AGREEMENT
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THIS AGREEMENT, made this 3 ~ day of October, 1980, by
and between JACOBSON-REA, INC., a Florida corporation, herein-
after referred to as "Mortgagor", and SUN BANK OF ST. LUCIE
COUNTY, a Florida banking corporation with its principal place
of business at 111 Orange Avenue, Fort Pierce, Florida, 33450,
hereinafter referred to as "Mortgagee";
W I T N E S S E T H
WHEREAS, on the 23rd day of June, 1975, Mortgagor borrowed
from Mortgagee the sum of Seventy-Five Thousand~($75,000.00)
Dollars and executed and delivered to Mortgagee its promissory
note for said amount bearing interest at the rate of eight and
one-half (8-1/2$) percent per annum and payable in fifty-nine
(59) equal monthly payments of Nine Hundred Thirty ($930.00)
Dollars each, including interest, and one sixtyth payment for
the then outstanding principal balance and accrued interest,
said monthly payments commencing on August 5, 1975; and
WHEREAS, the indebtedness evidenced by the aforementioned
Seventy-Five Thousand ($75,000.00) Dollar promissory note is
secured by a first mortgage given by Mortgagor to Mortgagee on
the following described lands in St. Lucie County, Florida:
Lot 1, INDUSTRIAL SUBDIVISION, according to
the plat thereof recorded in Plat Book 9,
Page 5 of the Public Records of St. Lucie
County, Florida;
and
WHEREAS, said first mortgage dated June 23,-1975 was
recorded on June 24, 1975 in Official Record Book 240 at Page
2901 and re-recorded on June 26, 1975 in Official Record Book
241 at Page 237, all of said references being to the Public Records
of St. Lucie County, Florida; and
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NlILL ORIfi1N J[IFRIES i LL01fD ~
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P. O. 907t 1270, ~ORi PEE AC E, fl0li10A 33454 -TELEPHONE (3051 494-9200