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MORTGAGE MODIFICATION AGREEMENT
TNIS AGREEMENT made and entered into this 20th day of
Dec.. 1980, by and between AMERICAN BANK OF MARTIN COUNTY, a
Fl~r~-'a Bar.'.;ing Corporat~~n, 4313 U. S. Highway I South, Stuart,
riorida .i.34y4, hereinarter reYerred to as "Bank" and
ISLAND VILLAGE OF HUTCHINSON ISLAND DEVELOPMENT CORPORATION, a
Florida Corporation, as to Parcel "A", and SAND DOLLAR VILLAS
DEVELOPMENT COItPOstATION, a Florida corporation, as to Parcel "B",
whose address is Bessemer Buildi:~o, Suite 203, Sewall's Point, ~
Jensen Beach, Florida 33457, hereinafter referred to as
"Mortgagor" .
4d I T~1 E S S E T H
WHF.REAS, Mortgagor executed and delivered a note in the
, original principal sum of TWO HUNDRED THOUSAND A~VD NO/100
($200,000.00) DOLLARS to Bank,.which note.was secured by a certain
mortgage to Bank dated June 20, 1980 and recorded in Official
Records Book 333, Page 1403, Public Records of St. Lucie County,
~ Florida, encumbering the following described real property, to
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wit :
SEE LEGAL DESCRIPTION ATTACHED HERETO
I and -
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tJHEREAS, the Mortgagor has requested Bank to extend and modify
~ the terms and conditions of the above-described note and mortgage;
~ an d
~ WHEREAS, Bank has agreed to extend and modify the terms and
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s .conditions of the said note and mortgage pursuant to this Modifi-
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t
~ cation Agreement.
~ NOW, THEREFORE~ in consideration of the sum of TEN DOLLARS ~
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; ($10.00) and other good and valuable consideration in hand paid ,
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~ to Bank by Mortgagor, receipt of which is acknowledged, the parties
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hereby agree to modify and amend the above-described mortgage as ~
follows:
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Thiz Instr~m~nt Pr~p~t~d Ar• '
JOHN A. DARLSO~J, ESQ. ~
DA~LSOb+ n~:n Bp_r.q, Cl,~r~s.fd
v. o. uoX r.~y nt~~354 PAGE c~p~
959 S. fede~al Hwy, ~~I~K ~
Stua?1, Flurids 33~91 -
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