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MODIFICATION AND EXTENSION AGREEMENT
THIS AGREEMENT, Made this ~~ day of December,
1980, by and between FLORIDA BANK AT FORT PIERCE, a Florida
banking corporation, hereinafter called "Mortgagee" and JAMCO,
INC., a Florida corporation, hereinafter called "Mortgagor".
WITNESSETH that
WHEREAS, Mortgagee is the owner and holder of a
Promissory Note and Mortgage executed by Mortgagor to Mortgagee
on property described in said Mortgage, which Mortgage is
dated December 1, 1980, and recorded on December 1, 1980 in O.R.
Book 334, Page 38, of the Public Records of Saint Lucie County,
Florida, and which Mortgage secures a Promissory Note, dated
December 1,-1980, in the original principal sum of Two Hundred
Fifty Thousand Dollars ($250,000.00), and provides for 180 monthly
installments of One Zl~ousand Three Hundred Eighty-eight Dollars
and 89/100 ($1,388.89), commencing on the lst day of January,
1981.
WHEREAS, it is the desire of all parties hereto that
tne payment dates, as recited in said Note, be changed.
NOW, THEREFORE, for good and valuable considerations,
it is hereby mutually agreed that the above-mentioned Promissory
Note shall be reformed to the extent that the first monthly
installment, of principal and interest shall commence on the lst
day of February, 1981, and continue through the lst day of Jan-
uary, 1996, and there shall be made on January 1, 1981, a pay-
ment of all interest accruing upon any amounts advanced by FLORIUA
BANK AT FORT PIERCE, prior to January 1, 1981, otherwise, all
terms of the Note shall remain the same.
The parties hereto hereby further covenant and agree
that all other terms and conditions of the said Mortgage and Promis-
sory Note, dated December 1, 1980, shall remain in full force and
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BftENNAN, McALILEY, HAYSKAR, McALILEY 6 DECKERT, P.A., ATTORNEVS AT IAW, POST OFFICE 60X 3779, FORT PtERCE, FIA. 33~5~