HomeMy WebLinkAbout1873 extending the terms of said notes and of the mortgages securing
them in the manner and form hereinafter appearing;
NOW, THEREFORE, in consideration of the premises and of
the mutual agreements herein contained, the said parties hereto
mutually covenant and agree as follows:
1. That the time of payment of said principal sums evidenced
by the aforesaid notes and mortgages securing them, as modified by .
this agreement, hereby is extended so that the total combined
principal indebtedness of Nine Hundred Thousand Dollars ($900,000.00)
shall become due and payable as follows: FIFTY THOUSAND DOLLARS
($50,000.00) on July 1, 1980, and a like sum on the first day of
.each July thereafter until July 1, 1997, when the entire unpaid
balance of principal and interest shall be due and payable, together
with interest on the unpaid balance thereof from the date of this
agreement at the rate of nine and one-quarter per centum (9-1/4$)
per annum, interest payable on July 1, 1979 and annually thereafter
to and including July 1, 199?.
2. That the Mortgagor will pay the indebtedness as provided
in Paragraph 1. hereof. After default or maturity, both principal
and interest shall bear interest at the highest lawful rate per-
; mitted by contract under the laws of the State of Florida. In the
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event (a) any installment of said consolidated principal sum or
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~ the 'interest thereon is not fully paid when due and remains unpaid
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for thirty days, or (b) default shall occur in the performance of
any of the terms and provisions of the aforesaid notes or mortgages
~ then the entire indebtedness evidenced by said notes and consolidated
~ by this agreement shall, without notice to the Mortgagor and at
the option of the Society, become due and payable at once (notice
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of the exercise of such option being hereby expressly waived) and
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shall bear interest from the date the same became due at the
- same rate as herein provided after default or maturity. In the
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event of such a default, the liens created by the aforesaid
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FEE. KOBLEGARD & TEEL. P. A. n tt ~~11
ATTORNEYS AT LAW LI P 7 4i.:Q
POST OFFICE BOX 1000 BOGY V YH~F
FORT PIERCE. FLORIDA aS480
T[LpXON I,OSI 4! t-0020
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