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' 4'71358
MORTGAGE MODIFICATION AGREEMENT
This agreement made this 1st ~y of December , A. O., 1 7g 9 "
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by and between First National Bank of Ft. Pierce - Fort Pierce Florida,
AI'ILIATt NAMt ANO CIT11
s bsnkirlp association, Party of the First Part, and Christopher J. Griffith and Mildred P. Griffith,
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his wife.
paw ies of ttw Second Pelt
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WIT'NESSETfI: ~
WHEREAS, the party of tM first part is the owner and holder of shat certain rrwrtgags from the part ies of the seoorld part
dated November 15, 1978 ,and recorded in Official Record Book 298 ~ p~53-57 of the public Raaards of
St. Lucie County, Florida,
AND WHEREAS, the party of the first part is now tM owner and holder of that certain promissory note for which said mort-
gage was given as security, said note being in the original prinapsl amount of SE~1EN THOUSAND AND NO/100---------
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------------------------------------($7,000.00)------------------------------------------, ~
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AND WHEREAS, the parties hereto have mutually agreed to modify the terms of said note and mortgage,
NOW, THEREFORE, in consideration of the mutual agreements of the parties heroic, it is agreed as follows:
(1) Upon the execution of this agreement, the total outstanding unpaid principal under said note and mortgage is the
amount of SEVEN THOUSAND AND NO/100--------------------------------($7,000.00)---
The parties heroic adcnovvfedge that upon execution of this agreement the interest on said obligation shall have
been paid through November 30, 1979
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' 12) Said note and mortgage is hereby amended and modified to be payable as follows:
Quarterly payments of $500.00 plus interest shall be due and payable
beginning on September 18, 1980 at;d on the 18th day of each-quarter
thereaSter, with the final payment being due on December 18, 1983.
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13) From and after December 1, 1979 ,interest rate on said note and mortgage shall be °
Sixteen percent (16.0 per annum, interest to be computed on the
unpaid principal balance.
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(4) This modification is made on the express agreement and understanding that all other provisions of said original note
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and mortgage shall remain in full force and effect save and except as modified by this agreement, and in the event of
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default sans shall at the election of the mortgagee operate to mature the full indebtedness to immediate collection
and foreclowre.
(OVER)
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