THIRD MORTGAGE MODIFICATION AGREEMENTPrepared by and return to: Matthew J. Mytych, Esq.
City of Clearwater
Dept. of Economic Development & Housing
P.O. Box 4748
Clearwater, FL 33758
THIRD MORTGAGE MODIFICATION AGREEMENT
This ird Mort age Modification Agreement (this "Third Modification") is entered into as
of this 11 day of 2025, by and between the CITY OF CLEARWATER,
FLORIDA, a Florida muni ' al corporation ("Mortgagee") and PALMETTO PRESERVATION,
LTD., a Florida limited partnership ("Mortgagor" and collectively with Mortgagee the "Parties").
WHEREAS, the Mortgagee and Greenwood Apartments, LLC ("Greenwood") entered into
that certain mortgage dated April 3, 2002and recorded on April 4, 2002 in O.R Book 11928, rage
2494 of the Public Records of Pinellas County, Florida (the "Original Mortgage") encumbering the
property situated, lying and being in Pinellas County, Florida, described in Exhibit "A" attached
hereto (the "Mortgaged Premises"); and
WHEREAS, Mortgagee and Greenwood entered into that certain Mortgage Modification
Agreement and Receipt of Future Advance dated May 14, 2012 and recorded on May 15. 2012, in
O.R. Book 17582, Page 2508 of the Public Records of Pinellas County, Florida (the "First
Modification"); and
WHEREAS, the Mortgagor, as successor in interest to Greenwood, and Mortgagee entered
into that certain Mortgage, Note and Other Loan Documents Assignment, Assumption, • and
Modification Agreement dated January 27, 2022 and recorded on January 28, 2022 in O.R. Book
21909, Page 2176 of the Public Records of Pinellas County, Florida (the "Second Modification" and
collectively with the Original Mortgage and the First Modification the "Mortgage"); and
WHEREAS, as a part of the Second Modification, Mortgagee expressly approved a property
manager and property management agreement for the Property; and
WHEREAS, the Parties now wish to amend the Mortgage to authorize a new property
manager for the Property and specify that future approvals of the property manager and property
management agreement for the Property can be executed administratively by Mortgagee without
further need to amend the Mortgage.
NOW, THEREFORE, in consideration of the mutual covenants and conditions contained
herein and in consideration of the sum of $1.00 and other valuable consideration accruing to each of
the Parties, the Parties hereby agree as follows:
1. Recitals. The foregoing recitals are true and correct and are incorporated in and fonn a part of
this Third Modification.
2. Amendment. The Mortgage is hereby amended to approve HK Management LLC as the
new property manager for the Property. All future changes to the property manager or
property management agreement for the Property may be administratively approved by the
City without further need to modify the Mortgage.
3. Except as otherwise provided in this Third Modification, all terns, conditions and provisions
of the Mortgage, and other instruments and documents executed in connection with the
subject mortgage loan, shall remain in full force and effect and shall be binding upon the
Parties, their successors, and assigns.
4. All questions with respect to the construction of this Third Modification and the rights and
liabilities of the Parties to this Third Modification shall be govemed by the laws of the State
of Florida.
5. This Third Modification shall inure to the benefit of, and shall be binding on, the assigns,
successors in interest, personal representatives, estates, heirs, and legatees of each of the
Parties of this Third Modification.
6. This Third Modification contains the entire agreement of the Parties and supersedes any
prior written or oral agreements among them concerning the subject matter of this Third
Modification. There are no representations, agreements, arrangements, or understandings,
oral or written, between and among the Parties relating to the subject matter contained in this
Third Modification that are not fully expressed in this Third Modification.
IN WITNESS WHEREOF, this Third Modification has been duly signed by the Parties on the date
and year first above written.
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(MORTGAGOR SIGNATURE PAGE)
In the pre
Witness names
Witness Address:
Witness name: Cal 0 tv.0 Ch tic„,
Witness Address:
ei Lk a Am &that, caRCQ
STATE OF A M A) j �� H �s 5
COUNTY OF
NORFOiki
PALMETTO PRESERVATION
LTD., a Florida limited partnership.
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Name: f�.r,�> ����, .1-f'
Title:
Date: 0.hA6?,.) � 1
The foregoing instrument was acknowledged before me by means of [B'physical presence
or 0 online notarization, this day of �Jftfj_,. , 2025, by &NIX) 2:1-4o is
personally known to me or 0 who has produced as
identification.
(NOTARIAL SEAL)
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Notary Public, 't to of-F444itta KICSOCl/WcOcil
Name of Notary:�k ( NAL
My Commission Expires: g 31
My Commission No.:
(MORTGAGEE SIGNATURE PAGE)
Approved as to form:
CITY OF CLEARWATER, FLORIDA,
a Florida municipal corporation.
By,
Matthew J. Mytych, Esq. Jenni
Assistant City Attorney City Mana
Date: ��� as Date:
Attest:
Rosemarie Call
City Clerk
Date:
STATE OF FLORIDA )
COUNTY OF PINELLAS )
The foregoing instrument was acknowledged before me by means f C� p y al presance•
or ❑ online notarization, this 19._ day of NOS\- , 2025, by mean=
�i , as City
h
Manager of the City of Clearwater, Florida, 0 who is personally known to me or 0 who has
produced as identification.
(NOTARIAL SEAL)
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;r1'��-,,, Patricia DeMilo
e € Comm.: HH 387353
Expires: April 17, 2027
`'„ b'.."/ Notary Public - State of Florida
Notary Public, Star f Floris
Name of Notary: Start
'VW,. UC'�'
My Commission Expires: \---4Pkp, 1), )
My Commission No.: {-{t�
EXHIBIT "A"
LEGAL DESCRIPTION
PARCEL 1: All that certain parcel of land lying and being in the County of Pinellas, State of Florida,
more particularly described as follows:
The Southwest 1/4 of the Southeast 1/4 of the Northwest 1/4 of Section 10, Township29 South,
Range 15 East, LESS AND EXCEPT each of the following: The North 122 feet of the est 175 feet
thereof, and the.portion thereof described as: Begin at the Southwest corner of said Southwest 1/4 of
Southeast 1/4 of Northwest 1/4 for Point of Beginning; and run thence North 0°7'41" East 663.23
feet along the fractional section line; thence South 89°2329" East 13.6 feet; thence. South 0°41" East
643.96 feet; thence along a curve to the left whose chord bears South 44°37'21" East 21.45 feet and
whose radius is 15 feet; thence South 89°1.6'7" East 633.86 feet; thence South 0°6'30" West 2.9 feet
thence North 89°23'8" West 664.76 feet to Point of Beginning, lying and being in Pinellas Counts
Florida.
AND LESS AND EXCEPT THE FOLLOWING PARCEL:
A portion of the Northwest 1/4 of Section 10, Township 29 South, Range 15 East, Pinellas County,
Florida, more particularly described as follows:
From the Southwest corner of the Southeast 1/4 of the Northwest 1/4 of said Section 10, Township
29 South, Range 15 East, run North 30.0 feet; thence East 30.0 feet for a Point of Beginning thence
S 89°23'45.35" East, 60.00 feet; thence N 50°00'00.00" West, 30.0000 feet; thence N 15°00'00.00"
West, 100.00 feet; thence N 05°00'00.00" West, 115.7269 feet; thence S 00°15'36.94 West
230.5325 feet to the Point of Beginning.
PARCEL 2:
Lots 13 and 14, Block B, ofNO. 1 SPRINGFIELD SUBDIVISION, LESS AND EXCEPT the South
6 feet of said Lot 13, according to the Map or Plat thereof, as recorded in Plat Book 3, Page 56, of
the Public Records of Pinellas County, Florida.
PARCEL 3:
A portion of the North 122 feet of the West 175 feet of the Southwest 1/4 of the Southeast 1/4 of the
Northwest 1/4 of Section 10, Township 29 South, Range 15 East, Pinellas County, Florida, being
further described as follows`
From the Northwest corner of the Southwest 1/4 of the Southeast 1/4 of the Northwest 1/4 of Section
10, Township 29 South, Range 15 East, Pinellas County, Florida; thence South 89°09'34" East along
the Northerly boundary thereof a distance of 175.00 feet; thence South 00°14'59" West, 112.91 feet
to the Point of B g;. thence continue South 00°14'59" West, 9.09 feet; thence North 89°09'34"
West, 13.60 feet; North 56053'4$" East, 16.28 feet to the Point of Beginning.
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