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MORTGAGE MODIFICATION AGREEMENT
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AGREEMENT made this 28th day of February, 1979 by JAMES E. HATFIELD, a
single man, 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-
mises and cc•venants contained herein, and,
WHEREAS, the Mortgagor did on the 11th day of May, 1978 execute and
give to the Mortgagee a certain promissory note and thereby promise to pay to
the Mortgagee $30,000.00 with interest at the rate of 9.7596 per annum, due and
payable in twelve (12) quarterly instalments as fellows:
$2,913.56 on the 9th day of August, 1978 and a like sum
on the corresponding day of each succeeding period there-
after until the w)iole be fully paid.
WHEREAS, the :~lortg,gor did on the 11th day of May, 1978, to secure the
payment of the aforesid promissory note, execute and deliver unto the Mortgagee
a Mortgage Deed on certain lands situated in St. Lucie County, Florida described
as follows:
Part of the Southwest ~ of the Southeast ~ of the Northeast ~
of Section 12, Township 35 South, Range 39 East, mores parti-
cularly described as follows:
For a point of beginning commence 30 feet North of the Southeast
corner of the Southeast ~ of the Southeast ~ of the Northeast ~
of said Section 12; thence run West 265.64 feet; thE,nce run North
641.72 feet to the North line of the Southwest ~ of the Southeast
~ of the Northeast ~ of said Section 12; thence run 266 feet to
the Northeastcorner of said Southwest ~ of the Southeast ~ of the - j
Northeast ~ thence run South 641.72 feet to the point of beginning.
This is a Second Mortgage
which Nk~rtgagt Decd was rrcoc•de., on the 11th day of May; 198, in the Public
~ Records of St. Lucie County, Florida at O.R. Book 288 , Pages 2766, 2767 and T
2768; 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 1
note; `
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NOW, THEREFORE, it is hereby agreed by the party hereto that the promissory
.note from mortgagor to mortgagee, secured by mortgage dated May 11, 1978 and re- E
corded in O.R. Book 288, Pages 2766,2767 and 2768 of the Public Records of St.
Lucie County, Florida , is modified as follows:
(1) Where said promissory note provides quarterly payments of $2,913.56 for
12 quarters at which time the full unpaid balance is due and payable, the same is
hereby amended to read: With an existing principal balance of $23,300.00 on Feb-
ruary 28, 1979 a monthly payment of $311.15, including interest will be due and
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payable on the 28th day of March ,1979, and a like sum or. the 28th day of each
month thereafter for 118 months until a final payment of remaining principal and
accruad interest shall be due on February 28, 1989• `
(2) It is further agreed that said note shall further provide that on and ~
after the 2Fsth ~iay of February 1979, it shall bear interest at the rate of !
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