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MORTGAGE MODIFICATION
AND
EXTENSION AGREEMENT
THIS AGRg~li~SNT made and entered into this 4th day of D~cember, 1989, by
and between CALLAWAY I.AND ~ CATTLB CO., IiyC., hereinafter referred to as
"Mo,tgago~", and FLORIDA NATIONAL SANR, a National Bankinq Association, its
~t1l:l:GtlbUtw! aiicii ~i d~s~:iyii~s i I1Ci.~C11I~1L~i~ LC1Ci-L~CIl i.~ Fa~s ~:~orx~ .
i~IITNSSSBTH, Bank is the owner and holder of a Promissory Note from
Mortgagor to Bank dated December 4, 1986 in the original principal amount of
FIVE HUNDRED FOURTEEN THOUSAND and NO/CENTS ($514,000.00) DOLLARS, which is
secured by a Mortgage upon the property hereinbelow described which Mortqage
is recorded in O.R. Book 523, Page 1245, of the Public Records of St. Lucie
County, Florida; and
WHERF.AS, said Mortgage is a valid first lien upon all of that certain
lot, parcel or section of land, lying in St. Lucie County, Florida described
as follows:
A!l oj Lot 2 and the No~th 130 feet of Lot IA, Block B, G.O. TEAM
INDUSTRIAL PARK UNIT TWO, according to the Plat thereof, as recorded
in Plat Book 24, Page 24 of the Pu6lic Reco~ds of St. Lucie County, Florida.
LESS AND EXCEPT parts thereof, heretofore released by Bank.
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' ~REAS, Bank and Borrower have previously aqreed to a modification and
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! extension of the terms and maturity of the aforesaid Promissory Note and
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~ Mortgage all as set forth by Mortgage Extension Agreement dated July 5, 1988,
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recorded in O.R. Book 593, Page 2799; and modified further by Mortgage
~ Extension Aqreement dated January 30, 1989, recorded in O.R. Book 623, Page
= 823, all of the Public Records of St. Lucie County, Florida; and
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~ WSBREAS, Bank, upon the further request of the Mortgagor, has agreed to
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k another modification and extension of the terms and maturity of the aforesaid
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~ Promissory Note and Mortgage.
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~ I~IOW, THEREFORE, for and in consideration of the agreement of Bank to
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~ modify and extend the terms of the aforesaid Promissory Note, and in further
consideration of the sum of Ten and No/Cents ($I0.00) Dollars and other good
and valuable considerations to each of the undersigned paid by the other,
receipt and sufficiency whereof is hereby acknowledged, do he=eby convey and
agree as follows:
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