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One Dollar ($1.00), each to the other in hand paid, the receipt 1
whereof is hereby acknowledged, Mortgagor and Mortgagee do,
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by these presents, covenant and agree as follows:
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1. Paragraphs 5 and 7 of the underlying mortgage herein
described shall not apply to the existing structure situated on
subject property. From the date of this Modification, the
Mortgagor shall not be required to insure the existing structure
located on subject property according to the terms of
Paragraph 5 of the Mortgage. Moreover, Mortgagor shall not be
required to comply with Paragraph 7 of the Mortgage as to the
existing structure located on subject property.
2. Mortgagee's waiver of Paragraphs 5 and 7 with regard
to the existing structure located on subject property shall not
include any new construction on subject property or other
structures erected on subject property subsequent to the date
of this Modification; but that said waiver as to Paragraphs 5
and 7 of the Mortgage shall be only applicable to the existing
structures located on subject property as of the date of this
Modification.
3. Except as herein modified, aII other terms, conditions,
and covenants of the Mortgage dated December. 29, 1978, as
is recorded in 0. R. Book 301 at Page 290 and the promissory
note secured thereby shall remain in full force and effect.
4. This agreement shall inure to and be binding upon the
heirs, personal representatives, successors and assigns of the
respective parties.
IN WITNESS WHEREOF, the Mortgagee has caused this instrument
to be executed in its name and its corporate seal to be affixed
by its president, duly authorized, and the Mortgagor has caused
this agreement to be executed in its name, the date and year
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1AM OPPICBS Oi EICHARD D. SEED. •7 R., P. A.. 700 VIgGI\IA A~CM'E. SCIiE 103-Slit/ BA\H BLDG., R. p16SCE, TLO@IDA 3:5160 (906) 466-2330 i