HomeMy WebLinkAbout0916 ~'i ~ / .
CORRECTIVk MOKTGAGE AGRkEMENT
~
/~/oy~~~s Agreement made and enterect into this day ofi'
ge~e#~e~e, 1986, between ROf3ERT H. PNRE, M.U. , ALTON L. THUMSUN, M.U. ,
WILLIAM E. ANDERSON, M.D. and NEIL C. BOLAND, M.U. of 1700 SoutP~east
Hillmore Orive, Unit No. lUl, Port St. Lucie, Florida (hereinafter
referred to as the "Mortgagar"), and FLURIDN NATTUNN~ BANK of
~
~ereinafter referred to as the "Mortgagee"
W Y T N E S 5 E T H:
WNEREAS, Mortgayee is the owner and holder of a certain note
made by Mortgagor to Mortgagee secured by a Mortgage and Security
Agreement bearing even date therewith anci recordeu on March 11,
1985, in Official Records Book 458, page 809, re-recorded in
Ufficial Records Book 464, page 121U, as corrected by that certain
Corrective Mortgage Agreem~nt recarded in Ufficial Records Book 48b,
page 701, Public Records of' St. Lucie County., Florida; and
WHEREAS, insofar as the existing leasehold condominiurn is to
be restructured as a fee simple condominium, inclutliny as a
prerequisite the Cancellation of Lease recorded in Official Records
Book 450, pages 685 through 697 in the Public Records of' St. Lucie
County, Florida, it has become necessary to correct and more _
accurately describe the mortgage property as hereinafter set fort?~;
NOW, THEREFORE, for and in consideration of the premises and
other good and valuable consideration, the receipt antl sufficiency
of which are hereby acknowledged, the parties hereto, intending to
be legally bound, hereby agree as follows:
1. Mortgage Property Description. The mortgage property
described in the Mortgage and Security Agreernent is hereby carrectea
and is more particularly described as follows: Unit PJo. lUl of the
Treasure Coast Medical Center Condominiums as more particularly
described in that certain Amended and Restated Declaration of
Condominium f iled ~~'C~.~J..en, '~-3, 19t3d, in Ut f icial Kecords Boo?c
~j"'~ s, pages ~ through 4~O , inclusive, together
with the exhibits a t ched thereto and made a part tnereof, and
together with an undivided share in the common elements appurtenant
thereto.
2. Subordination of hlortgage. This mortgage shall be
subordinate to the provisions of those certain Restrictive Covenants
and Reciprocal Easements recorded in Official Records Book ~f'- ~ S~,
pages through ~ in the Puhlic Records of St. Lucie
County, Florida.
3. Ratification. All of the other terms, conditions,
representations, and obligations containetl in the ~dortyage and
Security Agreement shall remain the same ana are hereby ratified,
approved, and confirmed.
IN WITNESS WHEREOF, the parties hereto have caused this
Corrective Mortgage Agreement to be executed as of tne day anc~ year
first above written.
Signed, sealed, and delivered tdORTGAGOR: ~
;~n the,~resence of~; ~
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s , C~ % G . ROBERT . PARE , M. D. j
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A~TON L. THOt~lSON, M.U.
~ V ,{,,.C~ [i~ ~ ~U_C'~~
~SIGNATURES CONTINUED UN F'P.GE 2)
2846a/0127a ~K~S25 P~~Q916