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. Lots 1, 1, 3, 4, 5, 6, 7, 8, 10, 11, 13, 14, 15, 17, 18, 19,
22, 23, 24, 25, 26, 28, 29, 30 b 31, BAY COLONY OF 57UART,
according to the piat thereof recorded in Plat Book 7, page 56,
public records of Martin County, and Plat. Book 19, page 1,
pubiic records af St. Lucie County, Flortda; together with
Lots 32 b 33, to be included in an amendment to the pi~t of
8AY COLONY OF STUART .
" - 3. That the term of the mortgage is hereby extended thirtysix (36) mont s
from date and therefore, instead of all outstanding principai and accrued interest
being due and payable May 10, 1979, same shail be due and payable December o'~' ,
1981.
1 4. That the rate of interest under said mortgage note shall be .
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, increased from 9. 25 percent to i l p~: ~=::~t p~r annum, commenci~g on the date of
execution of this Mortgage Modification.
S. That the Partiai Release Provision in sald mortgage is hereby
amended to read as foliows: "That the ~etease ratio is to be 1.5 times the loan
amount attributable to each lot sought to be released."
6. That the origination fee to be paid to the Mortgagee shall be 3~-
on the new money obtained hereunder, or 3$ of s304, 400. 00 which is ;9,132 .00 as
the origination fee to the Mortgagee.
7. That the Mortgagee hereby agrees to pay to the Mortgagor at the
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time of execution hereof, the difference between the present principal balance on
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i said mortgage in the amount of ;395, 600. 00, plus accrued interest, and the new
~ amount of the mortgage of t700,040.00.
8. That the insurance policy in the amount of ;250,000.00 shall be
j' kept cu~rent until the loan is paid in full.
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IT IS UNDEFtSTOOD that in ali other respects than hereinbefore
! specificaily designated, this Mortgagp Modification shall not alter or amend or
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have any effect legally to diminish in any form that Martgage Note dated November
10, 1977, or the Mortgage to secure said note recorded in Officiai Record Book
431, page 1970 public records of Martin County, and in Official Record Book 277, _
~ page 334, pubtic records of St. Lucie County, Florida .
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L M. TAYLOR, IAMlYEN4 ~
~ P. O. BOX 14377, NORTH PALM OEACM. FIA. 3340S • TEl.. ~3051 645-606S ~
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