HomeMy WebLinkAbout2751 -
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tMORTQAQE tNODIFtCI1TiON /IQREEMENT
Thb agreement made this 31st day of Jattuarp ~ ,'A. D., tq, 8O`,
by and between 80UTHEAS'T yirst Iiatiaoal Bank of Fort Pierce, ~
- rnwwts wwMS.wN4 c~tr
a banidrq aaodadcn. Pgcty of the fint.P~ an0-_. ~AaL88 G. 1faL401,t, S. I~i8L80N,
T,_,wII~'14IY A. NELSON, D/B/A 3~H Ittvest>'eata
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, Past:
~L_of the Seao~d Part.
MtITNE~S$ETH:
WHEREAS, the party of the- first part is the owner and holder of that certain from the t~t3L.._ of the eeoond pat
dated ata~ee~bar 22~ 2979 ,and in Offkisl Reo~rd Book, Papa i~ of 1M Pubik Records of
_ 1653
St. Lt~ctR County, Florida, .
AND WHEREAS. tM party of the first. part is now the owner and holder of that arWn PAY Hole for whkh said nwrt•
gage was given as security. said note being in ihs original principal srtaunt of t>NS FIFTY SBVffiI Z80USAND
ATVR ttil~iilRittl ANi) *~l100________________~_____-___••~~~~~~~~••~••~~~••~~ -•($157,500.00)-
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AND WHEREAS, the parties hereto have mutually sgreed to modify the terms of said Hots and mor~pe,
NOW, THEREFORE, in consideration of the mutual agreements of the parties hereto, it is agreed ss follows:
.111 Upon the sxeartion of this agreement, the total outstandirq unpaid principal unckr said nose and mortgage is the
• ~ afrl0uflt Of (lld'R trtilatlRRi1 FTFTff ~ Tq~i1SAND F2VB iltltlD t~jT+TD 1'b/100
The parties Mrsto sokrwwlsdge that upon execution of this sgresment• the intermit on said obligation shell have
121 Said note and mortgage is hereby srnended and modified to be psyabk as follows:
180 equal taoathly payments of $1,941.98 begioniug on
February Il, 1980, attd on the same day of each month
thereafter until this acts is paid.
131 From end sitar t~~a+..t~r 26~ 1979 ,interest rase on said note and mortgage shad be ZWSLOS
-ate Oi~r AAI.F -------NN------ 12.5
percent ( per anrwm, interest tD be computed on tM
unpsid principal balance.
(4) This modification is msde on the express sgnement and ~derstardirq that all other provisions of said original note
,
and mortgage shell remain in ful! force end effect save and except as modified by this agreement, and in tM event of
dtfauit same stall at the election of the rrwrtgsgee operate >b mstun the full indebtedness m immediate collection
and foreclosure.
IOVERi
saTa~i bins) M ososs-oss •
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