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MORTGAGE MODIFICATION AGREF~MENT
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FOR GOOD AND VALUABLE~CONSIOERATION, receipt of which is ~
acknowledqed, it is agreed by and between KINGS HIGHWAY 37 LIMITED
PARTNERSHIP, hereinafter called "MORTGAGOR", and SELBY R. BURCH
{ and JOSEPA S. BURCH, as Successor Trustees Under the Will of
~ W. L. Story, deceased, hereinafter called "MORTGAGEES", that .
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I~ WHEREAS, the Mortgagor~did on the 23rd day of February, 1973,
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mortgage certain lands in St. Lucie County, Florida, described in
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~ said mortgage to.the Mortgagees to secure a promissory note dated
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February 23, 1973,_in the principal amount of $198,800.00, said s
' mortgage being recorded in O. R. Book 211, page 1485-87, Public
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Records of St. Lucie County, Florida, and
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~ WHEREAS, the parties have agreed to modify the payment obliga- `
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g tions contained inlthe aforesaid mortgage.
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; NOW, THEREFOREy IT IS ACREED that the said Mortgage and
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o Promissory Note secured thereby ars modified as follows:
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• 1. The interest rate designated in the said Promissory Note, ~
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o to-wit: 8$ per annum, is hereby increased to 10$ per annum, such
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~ increase to be effective as of February 23, 1976. The Promissory
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g Note provides that said interest shall be paid annually, and this ~
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i = provision is hereby modified to a semi-annual payment, the next ~
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1 ~ such a '
~f p yment of interest being due and payable on August 23, 1976. ~
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~ <i 2. The payment of principal, which according to the said ~
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_ Promissory Note comes due in full on February 23, 1977, is hereby
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~ 1~ extended for_two years from tae~said due date, and the full principal ~
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~ balance due thereon shall be due and payable on Feb~ary 23, 1979.
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~ The said Mortgage and Promissory Note shall in all other respects ~
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~ continue in full force and effect in accordance with the terms thereof. 4;
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~ IN WITNESS WHEREOF the parties hereto have executed this [
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7 ~~I Mortgage Modification Agreement this ~a~day of ~ 1976.
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' ':i~ WITNES~ S; KINGS HIGHWAY 37 LIMITED PARTNERSHIP
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:~'i L5~ PdGE ~t1J ~Jn EgrP W$~i jBU~C uccessor T~ us~ees ,
M~RTGAt+FFCQ • • tory, C)~r't~aSE'.