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7. Interest on the principal mortgage balance for the two-year
period will remain at ten percent per annum and shall be calculated }
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on declinin~ principal balances. Further, said mortgage indebtedness '
will remain prepayable at any time, without penalty, and with interest '
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payable only to the date of such_prepayment. `
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8, Owner shall not be deemed, by the execution of this
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instrument, to be making a personal guaranty as to any of the ,
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foregoing payments, nor does this instrument imply any personal :
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guaranty on her part of the principal indebtedness owing to
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Mortgagee. ~
9. Owner shall have the obligation for the payment of ad `
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valorem real estate taxes as to the property in question each x
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year. ~
10. By the execution of this instrument, S. L. M. assures ~
Mortgagee that the aforedescribed mortgage held by S. L. M. shall ~
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continue to be subordinate and inferior to the lien of the mortgage ~
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held by Mortgagee, and that the execution and recording of this ~
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instrument sha11 in no way alter the first mortgage position of ~
Mortgagee, with regard to the subject real property. ~
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~ 11. Except as specifically modified herein, the mortgage +
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i held by Mortgagee and the mortgage note which it secures shall ~
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~ remain in full force and effect according to its original tenor. ;
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IN WITNESS WHEREOF, the parties hereto have executed this
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Mortgage Modification Agreement on the date and ear first~~l3oveh
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SUN BANK OF CO~O~C, N. A.= Y" •
Signed, sealed and delivered , ,R ' ~ ' Y ~ ~
in the presence of : ,,/.~~~.r~ ~`m s ` = '
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~ ATTEST : ~ '
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: as to Sun •
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~ t lynn S. L. M. DEVELOPMENT CORpOFd~1~'Xt~~~ ~
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' s to S. L. M. - BOOK ~~O P~GE 171? ~
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