HomeMy WebLinkAbout0817 , .~~s~
_ ~
4~~~~5 1
LOAN NO. 10763-MS
riODIF'ICATION AGREEMENT
TNIS AGitEEMENT made and entered i.nto this 6th day of March,
1978, by and between SALAH A. GOUDA and DIANNE GOUDA, his wife,
(tiereinafter called "Mortgagor"), and TNE MUTUAL LIFE INSURANCE .
- /F.- ~~~r.r r~A17ni7
C;UFlk'ANY Uk~ N~W YVlttl~ d IVCW 1Vt1< <:VL~?ViClt.tvia ~~acia.i.i~a.~~~...+-
"Mortga~~ee"); ~
WNER~S, 1?iortgagee is the owner and holder of a certain .
promissory note dated December 24, 1977, in the oriqinal principal
amount of $250,000.00 executed and delivered by Mortgagor to
Mortgayee (the "Note"), said note being secured by a certain
. Mortgage and Security Aqreement dated December 24, 1977, recorded
in Official Records Book 279, page 1770, Public Records of St.
Lucie County, Florida (the "Mortgage") and .
~~THEREAS, the parties hereto wish to modify and amend the
terms.and conditions of the Note and Mortgage in the manner here-
~nafter set forth;
NOW, TFiEREFORE, in consideration of the premises and of the
mutual advantages and benefits accruing to the parties hereto, it
is agreed: - -
1. The Note shall be modif ied as follows:
'1'he first paragraph on the first page of the Note "
is deleted in its entirety and the following substituted
therefor:
FOR VALUE RECEIVED, the undersigned promises to pay to
the order o£ THE MUTUAL LIFE ZNSURANCE COMPANY OF NEW ~
YORK, a New York corporation, at its principal office
at 1740 Broadwav, New York, New York 10019, or at such
other place ~r y_laces as the holder hereof from time to
time may designate in writing, the principal sum of TWO
HUN~RED FIFTY THOUSAND AND 00/100 DOLLARS ($250,000.00)
lawful money of the United States,-together with interest
~ in like lawful money from the date hereof at the rate of
~ nine and one-half ~ercent (9-1/2$) per annum on the un-
~ paid balance, in annual installments as follows:
~ - -
~ Commencing on January 1, 1984 TEN THOUSAND AND
00/100 DOLLARS ($10,000.00) installment of prin-
cipal shall be due and payable and a like amount
shall be due and payable annually on the first
day of January of each year to and including
_ January 1, 2002 and on January 1, 2003 the entire
balance remaining on account of said principal
together with all accrued interest shall be due
and payable.
Interest on the unpaid principal•balance shall be
d~re and payable comme.ncing on January 1, 1978 and
continuing on the first day of January of each
year to and including January 1, 2002 and on Jan-
uary 1, 2003 all unpaid a.nterest shall be due and
_ payable.
2. The Mortgage shall be modified as follows: ~
Z•he final maturity date as set forth in the second
~ . Faragraph on the first page of the Mortgage shall be
changed from the first day of January 2008 to the first
day of January 2003. ~ ~
THfS iNSTRUtIlEN1 WAS PREPARED
etr .TA rn~s ic cs s N
. Q Q ~.D SiiOULD QE RETURNED TO
8~~~~~o F~ O~~ ANDERSON & RUSH
A~orneys at law
P. o. sox 22as
ORLANDO, FLORIDA 32802