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MORTGAGE MODIFICATION AGREEMENT
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AGREEl~NT made this 10th day of October, 1978, by Wayne and
Anne H. Carlton, hereinafter called the Mortgagor, and Florida Bank
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at Fort Pierce, a banking corporation existing under the laws of
the State of Florida, hereinafter 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 promises and covenants
contained herein, and
WHEREAS, the Mortgagor did on the 10th day of October, 1973,
execute and give to the Mortgagee a certain promissory note and
thereby promise to pay to .the Mortgagee $78,650.00 with interest at
the rate of 9.00% per annum, due and payable in nine (9) semi-annual
payments as follows:
.Nine (9) semi-annual payments shall be made in the
amount of~$4,829.11 each including interest at the
rate of nine (9.00%) per cent, with a BALLOON PAYMENT
of $64,716.80, plus interest at the rate of nine(9.009L) •
- per cent, to be payable five (5) years from the date
of execution of this note and mortgage. The first
payment is to be made on the 10th day of April, 1974.
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~ - WHEREAS, the Mortgagor did on the 10th day of October, 1973,
~ to secure the payment of the aforesaid promissory note, execute and
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deliver unto the Mortgagee a Mortgage Deed on certain lands situated
in St. Lucie County, Florida described as follows:
The NW ~ of~the NW less land lying South of Ten
Mile Creek of Section 33, Township 35 South, Range
~ ~ 39 East;
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ro ~ ~ Beginning at the SW corner of Section 28, Township_
35 South, Range 39 East, thence run East 1320 feet;
~ a thence run North 330 feet; thence run West 1320 feet;
'i ~ ~o ~ thence run South 330 feet; to the point of beginning,
~ ~ ~ _ lying and being in Section 28, Township 35 South,
J w rn .Range 39 East, St. Lucie County, Florida.
which Mortgage Deed was recorded on the 11th day of October, 1973, •
~ x in the Public Records of St. Lucie County, Florida at O.R. Book 219,
Page 1868; and
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a WHEREAS, the party desires to make certain modifications and
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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 October 10th, 1973 and recorded in O.R. Book 219, Page 1868 of
the Public Records of St. Lucie County, Florida, is modified as
s follows:
. (1) Where said promissory note provides "a BALLOON PAYMENT of
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$64,716.80 plus interest to be due on the 10th day of October, 1978",
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the same is hereby amended to read: "Due to a principal reduction,
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commencing on•the 10th day of April, 1979, with a principal balance
of $62,799.94, the sum of $4,985.99 including interest, and a like
sum on the corresponding day of each semi-annual period thereafter
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for ten (10) years.
(2) It is furthen agreed that said note shall further provide
• that on and after the 10th day. of October, 1978, it shall beannrnninterest
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