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514434
COMMISSION AGREEMENT AND COLLATERAL ASSIGNMENT OF MORTGAGE
AGREEMENT, made this o70~ day of January A.D., 1981, between
GOLDY SHERADSKY, SIDNEY PASTERNAK, DOROTHY PASTERNAK, RALPH STERN
and ESTHER STERN_, hereinafter called the Sellers, Assignors, and
LeVERE MONTGOMERY, d/b/a MONTGOMERY REAL ESTATE, hereinafter called
the Broker, Assignee.
WHEREAS, the Sellers owe the Broker Ninety Thousand Dollars
($90,000.00), representing a ten percent (10$) commission earned
with regard to the sale of lands located in Sections 27 and 34,
Township 34 South, Range 39 East, St. Lucie County, Florida, according
to the terms of a certain contract between the Sellers and Suellen
Bos, as Trustee, dated October 31, 1980, and
WHEREAS, the referenced transaction shall be closed and the
Broker shall be paid its commission except for Forty-Eive Thousand
Dollars ($45,000.00), and
WHEREAS, the Broker and the Sellers desire to enter into an
Agreement as to~the satisfaction of the balance due on the commission
and to provide security for the payment of the commission, and
NOW, THEREFOR, the Parties agree as follows:
1. The balance due the Broker of Forty-Five Thousand Dollars
($45,000.00) from the Sellers shall be paid to the Broker on or
before January 20 A.D., 1982. The balance due shall bear interest
at twelve percent (12~) per annum on the unpaid principal balance
until paid. The balance due on the Broker's commission shall be
evidenced by a promissory note of even date and shall be secured
by an assignment of a fractional interest that certain mortyage
making up a part of the underlying sale between Talawi Corp., N.V.,
as Mortgagor, and the Sellers, as Mortgagees, dated January 20 A.D.,
1981.
2. Value received, the Sellers as Assignors, hereby assign
to the Broker as Assignee, .0666 fractional interest of a certain
mortgage deed and promissory note secured thereby, granted by
g~~K ~`t~ PbGE 532
Lew OPliCCS O! SNEED ~ MBSS66, P. A.,700 ~IItGI\IA A~*EATUE, SI:iTE 104-SUN HAtiK BLDC., Pf- PIEECE, PIAEtDA 3.'5460 (305~ 465-2330
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