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WHEREAS, the parties hereto desire to modify the terms
of payment of the indebtedness evidenced by the aforemen-
tioned promissory note of borrower;
NOW, THEREFORE, in consideration of the premises and f
the mutual covenants hereinafter set forth, the parties here-
to agree as follows:
1. The borrower represents and warrants that he is the
owner of the above described real property and that there
are no liens or encumbrances against said property other than
the .aforementioned mortgage and real estate taxes accruing
subsequent to December 31, 1978.
2. The current principal balance of the indebtedness
evidenced by the aforementioned promissory note is in the
amount of $125,000.00 and accrued interest on said indebted-
Hess has been paid through November 5, 1979.
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~ 3. That the indebtedness evidenced by the above des-
cribed promissory note shall bear interest from November 6,~
1979, at the rate of 13 1/4$ per annum and said interest
~ shall be payable in consecutive quarterly installments, with
f the first such installment due on February 6, 1980.
4. That the entire outstanding principal balance of the
above described promissory note and all accrued interest
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E shall be due and payable on November 6, 1980.
5. That this mortgaye modification agreement supersedes
~ all previous mortgage extension agreements between the
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parties.
6. Except as hereby modified, all other terms and con-
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ditions of the aforementioned promissory note and mortgage
are hereby ratified, confirmed and approved.
7. Nothing contained herein shall be construed to im-
pair the security of mortgagee under the aforementioned mort-
gage.
8. This agreement shall be binding upon the parties
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hereto and their personal representatives, heirs, benefi-
ciaries, successors and assigns.
NEILL GRIFFIN JEFFRIE>s i LLOYO p ~jRj~
CN4RtEgED DuUA r