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MODIF1CATlON 4F LENDER'S AGREEMENT
THIS MODIFICATION OF LENDER' S AGREEMENT, dated this 24~day
of January, 1990, between JOSEPH CWIKLIK OF 1360 North Ocean
Boulevard, ~408, Pompano Beach, Florida 33062, (hereinafter
called the Senior Lender), and EAVON LIMITED, a Delaware Corpora-
tion, of 410 Spaulding Street, Waverly, New York 14892,
(hereinafter called the Junior Lender) , RscFis= ..i....~~00UGLA3 DIXON
Add Fe~: 8t I.ttaie Countv
Doc 7'as = r_ Aerk of Circuit tsl~
W I T N E S S E T H: ~t~: ~By
Dj a
D Daputy C~
T,~;al i ~
;
WHEREAS, the parties entered into a Lender's Aqreement dated !
I` June 30, 1989 setting forth certain o~ the parties rights between
~
;
; them as second and third mortgagees on certain property known as ~
E ~
~ Beach Vi31as, Hutchinson Island, Fort Pierce, Florida and
property owned by Beach ~illas Associates, Ltd. (the "Property"); ~
;
~
~ and
~
~
~
~ WHEREAS, the parties are desirous of clarifying and amending
~
the same in view of the desire of the parties that the first
~
~ mortgage held by First American Bank and Trust the construction
~ lender, be reinstated and extended in accordance with its
~
~ Commitm~nt Letter dated January 8, 1990, true copies of which
have been furnished to the parties r~ereto ; and
; WHEREAS, Junior Lender and Senior Lender are desirous of
'd having Senior Lender loan additional funds to Beach Villas
~
~ Associates, Ltd., which funds are to constitute an addition to
* Except that Eavon does not and wi.ll not agree that its third trortgage is not
in default,
s~~K675 ,:~E1719
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