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~ MODIFICATION AGREEMENT ~~,r~
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STATE OF FI,ORIDA
COUNTY OF ST. LUCIE
THIS AGREEMENT between Craiq A. Fross and Olive
M. Fross, his wife
(Borrower) and .
SUN BANK OF ST. LUCIE COUNTY (Lender), :
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W I T N E S S E T H, that
_ WHEREAS, Lender has heretofore made a loan to Borrower
, in ~he principal amount of ~enty-six-thousanu-dollars ($26,000.00)
` evidenced by Borrower's Note in the amount of the loan -
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dated Sept. 14, 1976; and
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WHEREAS, Borrower.has requested Lender to modify certain
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provisions pertaining to the afore~aid loan;
NOW, THEREFORE, in consideration of the premises and other
good and valuable consideration, Bormwer agrees with Lender as
follows, to-wit:
~ $26,000.00 payable $252.24 on the 15th day of each successive month
` beginning January 15, 1977 for 119 months; apply payment first to
~ interest, balance to principal. The entire balance plus interest
will be due and payable on the 15th day~of the 120th month.
This is a balloon note. ~
Interst rate is 8 1/4 $ per ann~~n; payable from December 17, 1976. i
Borrower hereby authorizes and dire~ts Lender to take
any action necessary to conform the original Note, security instruments
and other collateral documents to the terms as herein modified, and ~
by these presents accepts and confirms their liability under said -
Note, security instruments and other collateral documents, with the
terms as herein modified. ~
I3orrower furthcr agrees that the foregoing Rlodific~tion
shall in no way affect or otherwise release any collateral held hy
Lender as security to said Note; but acknowledges ~nd agrees that
all collateral held by Lender as security to said rlote shall continue
to secure the Note to the same exter.t and in the same manner as if ~
the foregoing Modification had not been effected. ;
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