HomeMy WebLinkAbout0031 WHEREAS, the Florida Bank at Fort Pierce, party
of the second part upon the request of the undersigned has
agreed to the modification and extension of the note and
mortgage described above.
NOW, THEREFORE, THIS INDENTURE WITNESSETH:
That the undersigned for and in consideration of
the agreement of the Florida Bank at Fort Pierce, the party
of the~second part, to modify and to extend the terms of said
note and mortgage as aforesaid and in further consideration
of the sum of $1Q.00 and other.valuable considerations to each ~
of the undersigned paid by said party of the second part at and
before the ensealing and delivery of these presents, and receipt
whereof is hereby acknowledged, do hereby covenant and agree to
and with said party of the second part as follows:
FIRST: That the above descrilied mortgage shall.
continue to be a valid first mortgage lien on the property
herein described and said mortgage shall stand as security
for the payment of the sums listed below.
SECOND: The current balance on the principal as _
of January 1, 1977 due on the above described note is
$173,177.75. In addition, the principal balance is herein
modified and extended in the amount of $15,0OO.OU, making a
total principal balance due as of January 1, 1977 in the amount
of $188,175.T5.
THIRD: The repayment schedule in the above
described promissory note is hereby amended to repay the
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principal balance of $188,175.75 in nine (9) semi-annual payments
of 512,401.55 each, including interest at the rate of seven
percent (7$), with a balloon balance of $127,878.87 due on
January 1, 1982. The first semi=annual payment shall be due
on July 1, 1977. ,
FOURTH: All other terms and conditions contained
in said note and mortgage described above are hereby incorporated
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