HomeMy WebLinkAbout0437 1).That each and every of the above recitals is true and correct.
2) That the mortgage referred to above be and the same is hereby
amended to include as of November 30, 1978, in addition to the principal ba2ance
as hereinabove set out of $63,777.34, the principal sum of s97,328.66. These
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principal sums together with accrued interest as of November 30, 1978 in the
amounts of ~244.63 and ~2,848.28 respectively.
3) That the interest charged on the entire unpaid principal balance
of said mortgage shall•be at the rate of 14$ per annum from 13ovember 30, 1978.
4) That the payments on said mortgage as received after November 30,
1978 shall be applied in the following manner: ~
_ FI1tST: 'The payment of the $244.63 interest accrued as of November 30,
1978 on the principal obligation of ~63,777.34.
S~~O~ID: The payment of the $2,848.28 interest accrued as of Aovember 30,
1978 on the principal obligation of $97,328.66.
"THIRD: The payrient of the interest accrued on the principal obligation
subsequent to November 30, 1978 and until date of payment.
FOURTH: The reduction of the principal balance.
S) 'That the remaining unpaid principal balance on the s97,328.66
obligation and accrued interest thereon, shall be paid in full at such time as
' construction financing is obtained on Phase II, Building E, now under construction
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~ on the real property as described in Schedule "B".
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~ 6) That, except as herein modified, all of the terms, conditions and
` covenants contained in said mortgage shall remain in full force and effect, and
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~ unmodified.
~ IN WITNESS 1Vt[EREOF, the parties hereto have hereunto set their hands
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~ and seals as of the 30th day of November, 1978 this day of 1979. ~
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