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•'hi$ inst:u4:2nt prepared by.
J~hn U. ldartyn
DAVF.RSA AND I~ARTYN, ATTORNEYS
~6~8~.J 393 Tequesta Drive
~ Tequesta. Florida 33458
MODIFICATION OF MORTGAGE AND PARTIAL RELEASE OF MORTGAGE
' THIS MODIFICATION OF MORTGAGE AND PARTIAL RELEASE
OF MORTGAGE made and entered into this .3~ day of November,
1973, by and between E. E. HUGHES, as Trustee, joined by
MARJORIE M. HUGHES, his wife, hereinafter called Mortgagor, ~
and SUN BANK OF FT. PIERCE, a Florida Banking Corporation,
being the successor of FIRST PEOPLES BANK OF FT. PIERCE, a
Florida Banking Corporation, hereina£ter called Mortgagee,
WITNESSETH:
WHEREAS, Mortgagee is the owner and holder of that
certain Note and Mortgage dated November 22, 1972, from Mort-
gagor to Mortgagee, encumbering certain property in St. Lucie
County, as more specifically described therein, as recorded
in Official Record Book 208, Page 1943, in an original prin-
cipal amount of One Hundred Twenty Thousand ($120,000.00)
Dollars, and
WHEREAS, Mortgagor has this date paid to Mortgagee
all of the interest accru~.ng on said Promissory Note from
the date thereof to the date hereof, together with a princi-
pal payment on said Note in the amount of Fifty Thousand
($50,000.00) Dollars, receipt whereof is hereby acknowledged,
and "
WHERFAS, Mortgagor is desirous of obtaining from
Mortgagee a Partial Release of Mortgage, releasing a portion
of the lands described in said Mortgage from the lien thereof,
and
WHEREAS, the parties hereto are each desirous of
modifying the terms of said aforedescrzbed Mortgage and Note,
as more specifical].y stated hereinafter,
NOW, THEREFORE, the parties hereto do hereby, in
consideration of Ten ($10.00) Dollar~ in hand paid by each
party hereto to the other, the receipt whereof is hereby
acknowledged, and in further consideration of the promises
contained Y?erein, agree as follows:
1. Mortgagee does hereby remise, release, quit-
~ claim, exonerate and discharge from the lien and operation
` of the aforedescribed Mortgage unto the said Mortgagor, his
! heirs and assigns, that certain portion of the premises con-
veyed by said Mortgage, more particularly described in Sched-
ule A attached hereto and made a part hereof, to have and to
hold the same, with the appurtenances, unto the said Mortga-
gor, his heirs and assigns forever, freed, exonerated and
~ discharged of and from the lien of said Mortgage, and every
€ part thereof; provided always, nevertheless, that nothing
` herein contained shall in anywise impair, alter, or diminish
~ the effect, lien or encumbrance of the aforesaid Mortgage on
; the remaining part of said Mortgage premises, not hereby
released therefrom, or any of the rights and reinedies of the
holder thereof. -
S
6
i 2. That certain Installment Note dated November
~ 22, ]_972, and attached to the aforedescribed Mortgage, is
hereby amended in the sole respect that the principal pay-
ments shall be five (5) equal annual payments of Fourteen
3 Thousand ($14,000.00) Dollars each, plus'interest on ~he
remaining unpaid balance from time to time at the rate of
7
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3 Daversa and Martyn, Attorneys 393 Tequesta Drive Tequesta, Florida 33458