HomeMy WebLinkAbout0968 MORTGAGE NOTE MODIFICATION AGREEMENT i~~
THIS AGREEI~NT made in duplicate this day of March,
1972, by and between Ina Reed McReynolds, of Orlando, Florida,
first party, (hereinafter referred to as "Mortgagee") and Charles W.
Crooks and Reginald L. Childs, of Fort Pierce, Florida, second
parties (hereinafter referred to as "Mortgagors");
W~REAS Mortgagors executed their purchase money mortgage
to Mortqagee encumbering real property in St. Lucie County, Florida,
described as follows:
The W 1/2 of the W 1/2 of the NE 1/4 of .
Section 36, Township 35 South, r.M~~e 38 East, ,
less existing rights of way, containing 38.2
acres, more or less;
and being recorded in Official Record Book 191 at page 224
of the public records of St. Lucie County, Florida, for the purpose
of securing the $17,750 promissory note of Mortgagors to Mortgaqee .
of even date therewith and more particularly identified and
descri.bed in the herein described mortgage; and ~
w~REAS throuqh scrivener's error, the principal of said
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~ promissory note appeared therein as being payable $4,750 on or
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f " before March 19, 1972, and a like sum on the 19th day of March of
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N~ each succeeding calendar year thereafter until the full principal
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~ c o~ sum was fully paid, when in truth and in fact the parties had
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~ a before agreed that said $17,750 principal indebtedness would be
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~ payable in five equal annual installments of $3,550 each, the first
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~ of which would be due March 19, 1972;
~ NOW, T~REFORE, in consideration of the sum of One Dollar
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($1.0~) each to the other in hand paid, it is mutually understood
~ w and agreed that the principal sum evidenced by the promissory note
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secured by the hereinabove described mortgage shall be p~yable
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$3,550 on or before March 19, 1972, and a like sum on or before the
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~ a a' 19th day of March of each succeeding calendar year thereafter, ~
~ W w until the full principal sum be fully paid.
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