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f~~ 2~ q25~ THIS ~NSTRUMENT W~ PREPAREd
s' evC~-IAS. E. SM1TH '
Sµ1TN, HEATH, SMITN 8 O'w?~a~ (
, ~ P. O. BOX 518 c
~ VERO BE/~C?~. FLOR~DA 329b0 i
MODIFICATION AGREEMENT ;
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THIS MODIFICATION AGREEMENT, Made this 12th day of j
October, 1970, between FIRST FEDERAi~ SAVINGS AND LOAN ASSOCIA - ;
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T10N OF INDIAN RIVER COUNTY, a corporation under the laws of the Unitec~ ~
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States, party of the first part, and HARLAN C. McVEY and NANCY P. ; 1
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McVEY, his wife, parties of the second part, WITNESSETH: - ~
WHEREAS, the parties of the second part executed a mortgage to ; ;
the party of the first part on property described in said mortgage, which '
mortgage was dated August 14, 1970, recorded in O. R. Book 186, page ;
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2083, Public Records of St. Lucie County, Florida, and which mortgage
secured the original amount of $14, 000. 00; which said mortgage provides
monthly payments of $1 ~1. 55 and interest at the rate of 8. 0 per cent per
annum, and,
WHEREAS, parties of the second ~a rt desire to obtain a future
advance under said mortgage dated August 14, 1970 by Open End Note dated
Qctober 12, 1970, in the amount of $5, 000. 00 with interest at the rate of 8. 0`
per cent per annum, and, ~
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WHEREAS, party of the first part declines to loan said future
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` advance unless and until the interest rate is increased on the original note
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s and mortgage dated August 14, 1970 and Open End Note dated October 12,
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~ 1970.
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NOW THEREFORE, in consideration of the premises and the
granting of the future advance the parties af the second part covenant and
agree to pay interest on the balance of said mortgage dated August 14, 1970, ;
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~ and Open End Note dated October 12, 1970, at the rate of 8. 25 per cent per '
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~ annum, commencing on the ist day of November , 1970. j
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~ The parties hereto further covenant and agree that all terms and ~
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~ conditions of said mortgage and notes as mentioned herein shall remain in ;
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full force and effect and that nothing herein contained shall in anywise impairi
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~ alter or diminish the term~ or conditions, lien or encumbrance of the said ~
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~ mortgage and notes other than as expressly stated in this agreement. ; ~
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~~187 ~27~3 :
~ Smith, Heath, Smith ~ O'Haire, Attorneys At law, P. O. Box 18,. Verc Beach, Ftorida 32960
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