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MORTGAGE MODIFICATION AGREEMENT ~
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This Agreement made this lOth day of March, 1986, by and
between OSCAR F. HEIL and YVONNE HEIL, his wife, party of the
first part, and TERRAIN DEVELOPERS CORPORATION, a Florida
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Corporation, having its principal place of business at 4401 White ;
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Way Dairy Road, Fort Pierce, Florida 33454, party of the secend
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part.
WITNESS~TH:
WHEREAS, on the 15th day of February, 1985, Mortgagor
borrowed from Mortgagees the sum of $546,270.00, and executed and
delivered to Mortgagees its Promissory Note for said amount; and
WHEREAS, the indebtedness evidenced by the aforementioned
$546,270.00 Promissory Note is secured by a first Mortgage given
by Mortgagor to Mortgagees on the following described lands in
St. Lucie County, Florida:
The Southeast one quarter of Section 21, Township 35 South,
, Range 39 East, in St. Lucie County, Florida; and
WHEREAS, said first Mortgag~ dated February 15, 1985 was
recorded on February 20, 1985 in Official Record Book 456, Page
1598 of the Public Records of St. Lucie County, Florida; and
WHEREAS, Mortgagor is the present owner of the above
described real property; and
WHEREAS, the parties hereto desire to modify the terms of
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[ payment of the indebtedness evidenced by the aforementioned
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~ Promissory Note and Mortgage and wish to modify the terms of the
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~ Mortgage instrument.
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~ NOW, THEREFORE, in consideration cf the premises and the
. mutual covenants hereinafter set forth, the parties hereto agree
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as follows:
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1. Upon the execution of this Agreement, the total
outstanding unpaid principal under said Note and Mortgage is.the
• amount of $546,270.00. The parties hereto acknowledge that upon ~
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CNART[N[O
P. O. B~X 1270, fORT PIERCE, fLORIDA ~S~S4 - TEIEPMOHf (~05) 46~-0200
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