HomeMy WebLinkAbout2976 2~~~2
MORTGAGE MODIFICATION AGREEb1ENT
R~: The North 106.23 feet of the South
320 feet of that part of Government
Lot 2, Sectio~ 1S, Township 35 South,
Range 40 East, lying East of the
right-of-way ot Indian River Drive,
St. Lucie County, Florida ;
THIS MORTGAGE MODIFICATION AGREEMr:~7T entered into by and
between Mortgagor; ~V1~YNE E. ALLEN and JOANN ALLEN, his wife, here-
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after calleci First Parties and Mortgagee, SUN BAN~ OF FORT PIERCE,
FLORIDA, hereafter called Second Party.
FOR At1D ItJ CONSIDERATION of One Dollar ($1.00) and other
valuable consideration,-the parties hereby agree as follows:
W13EREAS, the First Parties did execute a certain First ~
Mortgage'unto Second Parties on or about July 19, 1973, which
r:iortgage is recorded in OR Book 216, Pages 1713-1716, and
i~HEREAS, said First Mortgage secured the original indebted-
~ ness for SIXTY THOUSAND DOLLARS ($60,0OO.OQ) repayable in accordance
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' with terms of mortgage note attached to referenced mortgage l~etween
; the parties, and. =
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ia~iEREAS, the parties desire to increase the mortgage indebted-
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ness by additional TEN THOUSAND DOLLARS ($10,000.00) without loss of
lien priority under the~above referenced First Mortgage for the
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~ sole purpose pf increasing the First I~tortgage by a sum of TEN TH~USAND~
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' DOLLARS ($I0,000.00).
IJOW, THEREFf~RE, it is hereby agreed as follows:
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; That the existing balance of princi~al due under the -
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~ original rnortqaqe note in the sum of $58,309.69 shall be increased
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; by the sum of $I0,000.00 making a baZance due in the 24odified
! Mortgage and Mortgage Note of $68,3Q9.69 principal.
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