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HomeMy WebLinkAbout2189 . . i . 1 - , . . ~ ) ~ . ~ • - , : . , WHEREAS, the MORTGAGOR and MORTGAGEE have agreed to further modify and extend the pron~issory note and Mortgage abov8 deacribed as is hereinafter provided; ' • N41i~; THEREFORE, in coneideration of the mutual coveaaats con- tained hereia, and other good aad valuabZe coasideration, and to induce the MORTGAGEE to further extend the above described promissory note and Mort- gage as is hereinar#ter set forth, it is expressly agreed by and betweea the partiea as foLlows: ~ 1. That the above recitations are true and correct and are made a part of this Agreement as if fully set £orth herein. 2. Interest only shall be paid monthly commencing the lst day of October , 1968, until the entire principal indebtedneae is pa.id in full. ~ 3. If the atiove described promissory note is not otherwise in default, the principal indebtedneas shall be repa.id as fo]lows: The sum of ~5, 000. 00 on the 1 st day of Jaauary, 1970, and a like sum on the 1 st day of each month thereafter until the eatire principa.l indebtedness is pa.id ia full. 4. The MORTGAGOR does herewith ratify and confirm each and every of the terms, covenants and conditioas contaiaed in the Mortgage Deed da.ted March 6, 1964, the Corrected and Amended Mortgage Deed dated June 10, 1964, the Corrected and A:neaded Mortgage Deed dated September 24, 1964, and the Modification and Extension of 1V~ortgage Agreement dated April 2, 196b, acicaow- ledging that the same are in full force and effect aad Iegal in each and every re- spect, except as the same are modified hereinabove, and further acknowledges that there is presently due the MORTGAGEE on the above described promissory note the principal sum of $50, 000. 00 , wit~i interest at the rate of I2 y6 per annum fror~a the let day of September , 1968, without any offsets, defenses or counterclaims. Nothing herein coatained invalidates or shall make iavalid any security now held by the MORTGAGEE for said indebtedness, nor impair, Ptk.._ _ ~ _ Z" - ' . ! RlAI ~ ~ ' . M - . -~>s_'„x-,-_': - " . . ~a~~.~[..+.~c~., '.r~'_. .