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. MODIFICATION AGRTffi~NT ~Q~j2Loan 170078 L
-This Agreement, datsd February 13, 1975, is made by and between Carl B. Fetzer~ i
Jr. and Martha Jeanne Fetzer, his Frife, herefnafter called "borrower", and Tf~ TRAV$LBRS ;
INSURANCB CQ~ANY, of HartYord, Conrlecticut, hereinafter called 'Render", in consideration ~
of their mutual benefits and agreements herein Contained. . ;
1. This agreament applias to a certain proml.ssory nots, held by lenaer, dated August 1,
1968, in the principal amaunt of $80,000.00, with the final pay~onent due on July 1, 1983, tt~e
maturlty date of the note, and mads by Roy B. Schd.ck,•Jr., Mary F: Schick, Carl B. Fetzer, Jr.
and Martha Jeanne Fetzer.
The note is secured by mortgage or deed of trust, also held by lender, datsd the same date as
the note, and made by the same makers thereof, on property situated in the Gbunty oY 3t. Lucie,
State of F1orl.da, and ~+ecorded in Vol. 172, page 29l~1, of the land records, and modiYied by
~oreement dated 7/28/69 recordsd in O.B. Book 180, page 709; Public Records of St. Lucie County,
~~1 orida.
2. The unpaid principal balanoe of the not,e on ~abruarsr 1, 1975 is $60,000.00 Borro~er s
promisea and agrees to pay such unpaid balance and interest to lender accordin~ to the te~ns
of the note~snd this modification agreement. ~
3. Box~vwer and lender agree that the payments on the follo-~ri.ng d,ates provided by the
tenris o~, tiie note are hereby char~,ded to provicle modified payments on such dates as follows:
Interest only shall be dus Fiebruary l, 1975•
The rate of interest required to be paid by the term of said Note, a s hereby ~
modif'ied, shall be ?-3/Lt~ effectiv~e F~ebruary 1, 1975. ~
The prepayment option set forth on said Note is herebp_ cleletsd and replaced j
~ by the folloFri.ng option: ~
~ i
~ "On ar~y interest due date on or after 2-1-75 a prepayment of $100 or any multiple ~ ~
~ thereof may be made on the principal of this note, not exceeding one fifth of the ~
~ original principal sun in a~ calendar year, without charge. This privilege is no~ ;
cumulative and if not e~ercised on a~y interest c~ue d,ate, the privilege for that ~
~ date is ~rholly relino,uished. Prepayment of principal in addition to the foregoir~ :
~ may be made in the amount of $100 or ar~y multiple thereof on ar~y interest c~us date ;
on or after 2-1-75 by payi.ng in addition thereto a'p~+epayment charge on the additional '
~ amount so prepaid, said prepayment charge being I~~ of such a~itional prepayment
throughout the remaini.ng term of this note and any extensions thereof; provided, ~
however~ that such additional prepayments may be made only from the prooeeds of sale
~ of personal property of the mortgagor or froRn the proceeds of inheritance or Yrom
~ the proceeds of the sale of real property other than the rea1 property securing this
~ note."
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1~. Borro~;er promises and agrees to pay at the maturity oY the note ar~y unpaid balance
= of principal resultin~ from the modification set out in paragraph 3 above, in addition to
~ any other unpaid balanoe provicbed by the terms of the note.
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~ 5• Nothing herein contained shall in any manner affect the priority or lien of the
~ ~:ertgage or d,eed of trust seciu~i.n~ this note.
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In witness whe~eof~,this agreement has been duly executed by the borro~~er and lender.
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~ t.; . Thom s Montgoaie Ce p~-e c~nt Carl B. Fetz , Jr.
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~ 1TT3ST ~ ~ , - R ~s AGEzQ~~e~ t!/~. _
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~;R..*i.wyman)Asst. S~CI'vtary . _ r+',artha J Fetzer ~ rc~-~r
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