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MORTGAGE MODIFICIATION AGREEMENT
AGREEMENT made this 26th day of December, 1978 by David M. Taylor and
Jewel Taylor, hereinafter called the Mortgagor and Florida Bank at Fort Pierce,
a banking corporation existing under the laws of the State of Florida, herein-
after called the Mortgagee, for and in consideration of the sum of =10.00 and
other good and valuable considerations, and also in consideration of the pro-
mixes and covenants contained herein, and,
WHEREAS, the Mortgagor did on the 26th day of December, 1973. execute and
give to the Mortgagee a certain promissory note and thereby promise to pay to
the Mortgagee X10,000.00 with interest at the rate of 9.OOX per annum, due and
payable in sixty (60) monthly instalments as folloKS:
;126.68 on the 26th day of January A.D. 1974 and a like amount
of X126.68 on the 26th day of each succeeding month thereafter -
for a period of 60 months at which time the full unpaid balance-
- is due and payable. -
and
WHEREAS, the Mortgagor did on the 26th day of December, 1973, to~secure the
payment of the aforesaid promissory note, execute and deliver unto the~Mortgagee
a Mortgage Deed on certain lands situated in St. Lucie County, Florida described
as follows:
Lot 6 and the North 5.1 feet of Lot 7 of Block 1 of .
HOPKINS SUBDIVISION , as per plat thereof on file in
Plat Book 3 at Page 18 of the public records of St.
Lucie County, Florida. -
which Mortgage Deed was recorded on the 26th day of December 1973, in the Public
Records of St. Lucie County, Florida at O.R. Book 222, Pages 1508, 1509 and
1510; and
WHEREAS, the party desires to make certain modifications and changes in the
payment of said promissory note and in the mortgage securing the payment of said
note;
NOW, THEREFORE, it is hereby agreed by the party hereto that the promissory
note from mortgagor to mortgagee, secured by mortgage dated December 2bth, 1973
i
and recorded in O.R.-Book 222, Pages 1508, 1509 and 1510 of the Public Records
of St. Lucie Co•~nty, Florida, is modified as follows:
(1) Where said promissory note provides .payments of #126.68 for 60 months
I
at which time the full unpaid balance is due and payable, the same is hereby
amended to read: With an existing principal balance of $6,102.08 on December
6
~ 26th, 1978 a monthly payment of $128.86, including interest will be due and
payable on the 26th day of January 1979, and a like sum on the 26th day of
each month thereafter for 58 months until a final payment of remaining principal
a
and accrued interest shall be due on December 26,.1983.
(2) It is further agree that said note shall further provide that on and
F -
after the 26th day of December, 1978, it shall bear interest at the rate of
nine and three quarters per cent (9 3/496) per annum-on the unpaid balance un-
til maturity, rather than 996 as provided in the original note.
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