HomeMy WebLinkAbout2855 of Fayment of the principal and interest of said notes and mortgagea upoe
the terme hereinafter mentioned;
NOW, Tl~tEF'ORE, in consideration of the premisea and of the mutual
promisea herein contained, and of the sum of Oae Dollar ($1.00) duly paid to
the Society, it is hereby mutually covenanted and agreed that the terms of
payment of the principal and interest of.said notes and mortgages be aad
tre sa~ are hereby modified as follows;
a. The inat~llm?_nts of principal in the amount of
$10,750 due August 1, 1966, August 1, 1967, and
August 1, 1968, and which are unoaid, are hereby
deferred uatil and shall be due aad payable on
August 1, 1981, the maturity of said loan.
b. The eatire unpaid balance of the indebtedness shall
bear interest from Auguat 1, 1967, at the rate of 6-1/4
per centum per aanum until paid.
ALL of the provisions of said notes and mortgages shall remain in
full force and effect except as herein specifically m~dified and this agree-
ment is made upon the express condition that said owner is vested with the
` fee sinple title to the premises covered by said mortgages. And the said
oWner in consideration of the granting of this modification further covenants
and agrees to pay said principal suan and interest When the same shall become
due and comply with the other terms and conditions of the said no tes and
mortgages, and nothing herein contained shall invalidate any of the security
now held for the payment of said debt. This agreemen t shall bind the parties,
their successors, heirs, legal representatives and assigns.
~ ~mK169 P~z836