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said modification upon the Parties of the First Part paying
aii interest due on said promissory note and mortgage.
NOW~ THEREFORE, said Parties do hereby agree as follaws.
to-wit:
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1. That there is now due and owing from the Parties of F
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the First Part to the Party of the Second Part the•sum of
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$80,000.00. The Parties of the Firat Part shall pay to the '
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Party of the Second Part on or before the execution af this ;
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agreement all interest due on said note and.mortgage. re- ;
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ceipt of which payment is hereby acknowledged by the Party
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of the Second Part by its execution of this agreement.
2. That the maturity date of the promissory note is
hereby extended as follows: "
The unpaid balance of the promissory note is $80~Q00.00
which shall be due and payable-as follows: Eight (8) semi- ;
annual ins*_allments of $10,000.00 each, commencing on
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October 1, 1976, and continuing on each April lst and Octo- ;
ber lst thereafter untiZ paid in full. In addition ro the
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principal payments, interest shall be due and payable at the '
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~ rate of 8 1/2% per annum on the unpaid balance from time to ?
time remaining and said interest payments-shall be due and
payable on the same dates as the principal paqments as set
. forth in this paragraph. In the event of a default in any :
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payment of principal or interest which default shall not be
corrected within 30 days thereafter, then the entire re-
maining unpaid balance sha11 immediately become due and
paqable at the option of the holder of this note. Any
- payment or any part thereof may be made on or before its due ~
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date without penalty. `
3. That all of the terms and conditions of that cer-
tain mortgage and promissory note herein.referred to and not
specifically modified shall remain in full force and effect.
IN WITNESS WHEREOF, the Parties of the First Part have f
hereunto set their hands and seals and the Party of the ~
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Second Part has caused this agreement to be executed on its
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uw OFFICES lOHN H. SUTHERLMJD VERO BEACH, FLORIDA ~
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