HomeMy WebLinkAbout1291 NOW, THEREFORE, it is hereby agreed by and between
the parties hereto that the promissory note from Mortgagor
to Mortgagee, secured by mortgage dated June 11, 1973,
and recorded in O. R. Book 215, Page 1159 of the Public Records
of St. Lucie County, Florida, is modified as follows: ,
(1) Where said promissory note provides "the tenth (10) and
final payment shall be $370,428.06 plus interest on the unpaid balance,
due and payable on September 1, 1978", the same is hereby amended
to read: "Thereafter, commencing on the 1st day of March, 1979,
the sum of $25,801.00, and a like sum on September 1 and
March 1 of each succeeding six month period, with a final
payment of $236,234.19 on September 1, 1983,, plus interest
due on said final payment."
(2) It is further agreed that said note shall further
provide that on and after the 1st day of September, 1978, it shall
bear interest at the rate of nine percent (9X) per annum on
the unpaid balance until maturity, and after maturity both
principal and accrued interest shall bear interest at nine
percent (9X) per annum until paid, rather than 7~X as provided in the
original note. '
(3) And it is further agreed by and between the parties
hereto that said promissory note shall be further modified to
read and include the following:
f
A LATE CHARGE OF $1,290.05 SHALL BE ADDED TO
i EACH INSTALLMENT REMAINING UNPAID FIFTEEN (15)
DAYS AFTER ITS DUE DATE, WHICH SUM SHALL BE
! ADDED TO EACH AND EVERY INSTALLMENT WHICH REMAINS UNPAID
~ FIFTEEN (15) DAYS AFTER THE DUE DATE-OF EACH
~ SUCCEEDING INSTALLMENT.
E
e (4) Except hs herein expressly amended, modified and
changed, the terms of said note and mortgage are hereby ratified,
approved and confirmed.
6
EXECUTED this 1st day of September, 1978, at Fort Pierce,
St. Lucie County, Florida. -
r
s
. $310 ~:i2~~
s
Page Two