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M ORTGAGE LOAN M ODIFICATION AGREEM ENT
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THIS AGGREII~ENT made and entered into this 5~ day of December. 1974 !
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by and between FIRST NATIONAL BANK OF FORT PIERCE, hereinafter. called "Bank" ~
artd D. J. Heller and Frederick Z. Pearson, hereinaftsr called "Borrowers" .
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WHEREAS, the Bank is the owner and holder of a Promissory Note executed `
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by the Bocr~wers on june 25, 1974 in the original prlncipal amount of $133, 000. 00
and, _ :
WHEREAS, the Bank is the owner. and holder of a mortgaqe on real propertY ~
located in St. Lucie County, Florida, given by the Borrowers to secure payment of ~
the Promissory Note, dated June 9, 1972 and recorded, Tune 12, 1971 in O. R.
Book 203 at Paqe 676, Public Reaot~ds of St. Lucie County, Flotlda:
W I T N E S S'E T H
That the partfes hereto for and in consideration of the mutual covenents
• hereinafter set forth, hereby mutually aqree as follo~vs:
1) That the time for the~ payment of the balance of the principal on said
note shall be modified to read as follows: Payment due December 15, 1974 will
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be $1, S 13: 39 includinq principal and interest and like payments of $1, 523 . 39 -
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' for each succeeding month up to and including the December lSth, 1975 payment
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~ schedule . On january 15, 1976 the originat payment schedule of $3, 373 . 26 per
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month including principal and interest wiil be reverted to until such time as the.
note fs paid in full.
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