HomeMy WebLinkAbout0813 ~'~~'7`~96 /
I~ MODIFICATION OF NOTE
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AND MOR'I'GAGF. AGREEItENT
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WHEREAS, KENNETH STEPIIENS, GERALD LOONEY AND VALERIE LOONEY, his wife,
~~executed that certain Mortgage Note dated October 14, 1977, in favor of
~~North Ridge Bank in the principal amount of Twenty-Two Thousand, Three
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j~Hundred Sixty-Nine and Eighty Cents ($22,369.80), which Note is herein-
`:after referred as Mortgage Note, and '
I IdHEP.EAS, KENNETH STEPHF.NS, as Mortgagor, executed that certain
~~Mortgage Deed, dated October 14, 1977, recorded November 21, 1977, in
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~i0fficial Records Book 277, Page 1572, of the Public Records of St. Lucie
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;;County, Florida, in favor of "3orth Ridge Bank, Mortgagee, which Mortgage
'secures that Mortgage Note and shall he hereinafter referred to as the
a, Mortgage, and
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WHEREAS, The Mortgage encumbers the following described property
:`situated in St. Lucie County, Florida, to-wit:- {
' LOTS 9 and 10 BLOCK 355, SECTION 2 PORT ST. LUCIE as
Recorded in our Book 202-2726, of the Public Records
of St. Lucie County.
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k'HEREAS, the terms of the ?7ote provides for payments of $372.83 per i {
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':month (Principal and Interest) for 60 months, beginning November 20, 1977. ~
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NOh', THEREFORE, in consideration of the Premises and for Ten Dollars
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($10.00) and other good and valuable considerations, receipt of which is {
hereby acknowledged from each party by the other, the parties hereto
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~'covenenant and agree as follows:
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~ 1. This note has been paid off in the Instalment Loan Department and
replaced with a loan in the principal amount of ThirteenThousand Dollars
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and no Cents ($13,000.00), to be repaid in the amount of $209.74 per month
(Principal and Interest) at 15.00 percent for 59 months with a balloon
payment of $8,815.73 on the 60th month.
2. This modification of. said ?tortga~e Note is herein effective this
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date, November 20, 1977. !
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