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' MORTGAGE MOLIFICATION AGREEMENT
.AGREEMENT made this 2nd of May, 1979 by Christopher J. Griffith and
Mildred F. Griffith, hereinafter called the Mortgagor and Florida Bank at _
Fort Pierce, a banking corporation exisiting 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 conside-
ration, of the promises and covenants contained herein, and,
WHEREAS, the Mortgagor did on the 3rd day of May, 1978 execute and give
to the Mortgagee a certain promissory note and thereby promise to pay to the
Mortgagee $26,026.60, with interest at the rate of 9.2596 per annum, due and
payable in four (4) quarterly payments of interest only as follows:
Principal shall be paid in one (1) instalment on hay 2_, 1979, with _
interest from 5/3/78 at the rate of 9~ per cent annum until paid
interest payable in quarterly instalments at the rate of $607.40
per quarter to be paid on 8/2/78, 11/1/78, 1/31/79 & 5/2/79•
and
WHEREAS, the mortgagor did on the 3rd day of May,1978, 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 1, Block i5, SUNRISE ESTATES, as per plat thereo on file in
Flat Book 8,Page 75 of the public records of St. Lucie County,Florida.
which Mortgage Deed was recorded en tre 3rd day of May ,1978 in the Public Records of
St. Lucie County, Florida at O.R. Book 286, Pages 1799,1800,and 1801;
and
WHEREAS the party desires to mane certain modifications and changes in the
payment of said promissory note and 'in the mortgage securing the payment of said
note
NOk, THEREFORE, it is hereby agreed by the party hereto that the promissory
note from mortgagor to mortgagee, secured by mortgage dated May 3, 1978 and:re-
corded in O.R. Book 286, Pages 7799, 1800 and 1801 of the Public Records of
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3 St. Lucie County, Florida, is modified as follows:
t
~ (1) „'here said pro^~issory note provides four(4} quarterly payments of interest
~ only and 7 instalment payment of principal the same is hereby amended to read:
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With an existing principal balance of $26,000.00 or, May 2, 1979, a monthly payment
of X240.86 , including interest will be due and payable on the 2nd day of June
1979, and a like surf, on the 2nd day of each month thereafter for 298 months until
a final payment of rer.~aining principal and accrued interest shall be due or,
May 2, 2004.
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(2) It is further agreed that said note shall further provide that cn and
after- the 2nd day May 1979, it shall bear interest at the rate of ten and one
quarter per cent (10~~) per annum or, the unpaid balance until maturity, rather
than 9.25 ~ as provided in the original note.
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