HomeMy WebLinkAboutWyman Fields Foundation First Amendment To Mortgage and Security Agreement
This document prepared by and return to:
Anthony A. Gazganese, Esq.
Brown, Wazd, Salzman 8c Weiss, P.A.
P O Box 2873
Orlando, FL 32802-2873
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FIRST AMENDMENT
TO MORTGAGE AND SECURITY AGREEMENT
THIS FIRST AMENDMENT to Mortgage and Security Agreement, dated November 13`"
2000, between VVYMAN FIELDS FOUNDATION, INC.; a Florida non-profit corporation, as ^,
Mortgagor and debtor (hereinafter called "Mortgagor"), and THE CITY OF WINTER SPRINGS,
FLORIDA, a Florida municipal corporation, as Mortgagee and secured party (hereinafter called r°*~
"Mortgagee"); r..~
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WITNESSETH:
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WHEREAS, Mortgagor and Mortgagee have previously entered into that certain Mortgage
and Security Agreement, dated May 10, 2000, and recorded in the public records of Seminole ~
County, Florida, at Official Records Book 3852, Pages 1837 through 1882; and
WHEREAS, the original Mortgage provides for future advances to increase the total amount
of indebtedness; and
WHEREAS, Mortgagor and Mortgagee desire to amend the total amount of indebtedness of
the Mortgage to increase said amount as set forth hereunder and the provisions related to partial
releases.
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Section 1. Total Indebtedness Amount. In accordance with Section 3.8 ("Future3 ~
Advances") of the Mortgage, the total amount of indebtedness of the Mortgage is hereby amended
to an amount equal to Nine Hundred Nine Thousand Six Hundred Fifty-Five and no/100 Dollars'
($909,655.00), as evidenced by a certain promissory note (`the Note") of even date herewith ° ~
executed by Mortgagor and delivered to Mortgagee, payable according to the terms therein provided u'1
and by reference being made a part hereof to the same extent as though set out in full herein, ~
providing inter alia for a maturity date of May l 0, 2007, or such earlier date as provided for in the
Note.
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Section 2. Partial Releases. Paragraph 4.4 (c), (Partial Releases) of the Mortgage is hereby
vended to read as follows:
The payment of a release price in the following sum:
(1) $17,668.30 for each individual residential unit located on Rhoden Lane and
Kristi Ann Court.
Section 3. Fu11 Force and Effect. All other provisions of the Mortgage not amended by
this First Amendment to Mortgage and Security Agreement shall remain unchanged and in full force
and effect.
TN ~'VTT?NESS WHEREUF, the undersigned has executed this ix<stn.;m4nt the day and year
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STATE OF FLORIDA
COUNTY OF SEMINOLE
MORTGAGOR: ~ ~'
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WYMAN FIELDS FOUNDATION, INC.,
a Florida non-profit corporation o 0
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B •r ~/--t~ LD
Candace A. Berle J
Chief Executive Officer
The foregoing instrument was. acknowledged before me this ~ ~' day of November, 2000,
by CANDACE A. BIRLE, C ief Executive Officer o yman Fields dation, Inc., a Florida
non-prof t corporation, w o is personally kn to me who has prod ed
as identification.
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