HomeMy WebLinkAbout1290 4~`743~ 3 ~
1
THIS MORTGAGE MODIFICATION AGREEMENT CALLS FOR A BALLOON PAYMENT _
AND THE FINAL PAYMENT OR THS BALANCE DU8 UPON MATURITY OF THE
OBLIGATION AS HEREIN MODIFIED IS $346,505.09, TOGETHER WITH
ACCRUED INTEREST, IF ANY, AND ALL ADVANCES MADE BY THB MORTGAGEE
UNDER THE TERMS OF THIS MODIFICATION AGREEMENT OR THE ORIGINAL
HORTGAGE HEREIN MODIFIED.
MORTGAGE MODIFICATION AGREEMENT
AGREEMENT made this 1st day of September, 1978, by
Minton Sun, Inc., hereinafter called the Mortgagor, and Florida Bank at
Fort Pierce, a banking corporation existing under the laws of the State
of Florida, hereinafter called the Mortgagee, for and in consider-
ation of the sum of $10.00 and other good and valuable consider-
ations, and also in consideration of the promises and covenants
contained herein, and
WHEREAS, the Mortgagor did on the 11th day of June, 1973
execute and give to the Mortgagee a certain promissory
note and thereby promise to pay to the Mortgagee $460,000.00
with interest at the rate of 7~X per annum, due and payable
in nine (9) semi-annual installments as .follows:
This note shall be payable in nine equal successive semi-
annual installments of $25,801.00 each, including interest;
the first of such semi-annual installments being due on
March 1, 1974; and one final lump sum installment in the
sum of $370,428.06 plus interest on the unpaid principal '
balance shall be due and payable on September 1, 1978.
WHEREAS, the Mortgagor did on the 11th day of June, 1973,
to secure the payment of the aforesaid promissory note, execute
and deliver unto the Mortgagee a mortgage deed on certain
lands situate in St. Lucie County, Florida described as follows:
E
` From the SW corner of Section 36, Township 34 South,
~ - ~ Range 39 East, run East 25 feet; thence run North
parallel with the West line of said Section 36, 227.66
g feet to the North right-of-way line of Central and
South Florida Flood Control District Canal C-25 for
~ the point of beginning; from said point of beginning
~ thence continue North 517.34 feet to a point; thence
run East parallel with the South line of said Section
36, 559.7 feet; thence run South parallel with the
x West line of Section 36, 517.46 feet to the North
- right-of-way line of said Canal C-25; thence run
West along said North right-of-way line of said Canal
C-25 a distance of 559.7 feet to the point of beginning.
` which Mortgage was recorded on June 11, 1973, in the Public
Records of St. Lucie County, Florida at 0. R. Book 215, Page
1159; and
WHEREAS, the parties desire to make certain modifications
a and changes in the payment of said promissory note and in the
yyyP
mortgage securing the payment of said note;
~ EOLR'tI ~O PAGf 1~ ~
~ ~