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518964
MORTGAGE MODIFICATION AGREEPtENT
THIS AGREEMENT made this 2nd day of March, 1981, by and between
ARTHUR F. WOOD and LEONARD I. CO'TTOM, JR., President and Secretary respectively
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~ of WESTGLEN CORPORATION, a Florida corporation, hereinafter referred to as
rbrtgagor, and CITI2ENS FEDERAL SAVINGS AND LOAN ASSOCIATION OF ST. LUCIE
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COUNTY, hereinafter referred to as Mortgagee.
;~ NOW, WHEREAS, Mortgagee is the owner and holder of two certain
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i~ Promissory hotes, each bearing the date of the 30th day of April, 1970, and
each in the principal amount of $17,500.00, given by the Mortgagor and secured
:~ by two tbrtgages recorded fn Official Records Book 184, Page 897 and in
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:: Official Records Book 184, Page 1082, Public Reconds of St. Lucie County,
Florida, and
;' WHEREAS, the parties hereto desire to modify said Notes and Mortgages,
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k'fiEREAS, the WESTGLEN COPORATIO~, a Florida corporation, is in the
;; process of liquidation and the individual officers for the corporation are
desirous of assuming the personal liability of said indebtedness of such
: liquidated corporation, and
WHEREAS, the priority of said Ttortgages and Notes will not be affected
' by said liquidation.
NOW, TFiEREFORE, in consideration of the promises hereinafter contained,
: the parties hereto agree said rbrtgages and Notes are modified by adding
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` thereto the following provision, to-wit:
The Mortgagors, ARTHUR F. [dOOD and LEONARD I. COTTOM, JR., jointly and
~ ; individually, hereby assume and agree to pay the obligation to CITIZENS
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g ; FED~RAL SAVINGS AI3D LOAN ASSOCIATICV OF ST. LUCIE COLiAiTY, *k~rtgagee, and
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~ , acknowledge that~ they will make the prescribed payments thereon to the said
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~ ;' Mortgagees, and perform all other requirements in accordance with the terms of
~ i~ said :~tortgage Deeds and Notes thereof recorded in Official Records Book 184,
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; 'i Page 897 and in Official Records Book 184, Page"1082, Public Records of St.
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~ . '. ,\~ ifiOKER ~j Lucie County, Florida.
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