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MORTGAGE MODIFICATION AGREEMENT.
WHEREAS, E. H. KLUEPPELBERG, JR, did on March 25, 1976 execute and
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deliver to FIRST NATIONAL BANK OF FORT PIERCE a certain Mortgage; and
WHEREAS, said E. H. KLUEPPELBERG, JR. did execute .and deliver to
FIRST NATIONAL BANK OF FORT PIERCE a Promissory Note dated March 25, 1976 }
in the amount of X24,800.00, which said Promissory Note was secured by the '
above described Mortgage dated March 25, 1976, which said Mortgage is recorded
in 0. R. Book 250, Page 1218, Public Records of St. Lucie County, Florida; and
WHEREAS; the principal balance of the said Promissory Note and
Mortgage as of March 25, 1980 is X11,675,23, and accrued interest to March
25, 1980 is 5229.99; and
WHEREP.S, PANAGIOTIS N. ZACHARAKIS is purchasing the property
described in said Mortgage from said E. N. KLUEPPELBEPG, JR. and assuming
the present balance of said .Mortgage as part of the purchase price of said
transaction; and
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modify the terms of payment of said Promissory Note, and FIRST NATIONAL BANK
OF FORT PIERCE .is agreeable to said modification; and
WHEREAS, ANITA M. LOPRESTI has entered into a fuaranty Agreement
with said FIRST NATIONAL BANK OF FORT PIERCE guaranteeing the payment of the
above described Mortgage. -
WITNESSETH:
NOW, THEREFORE, in consideration of the sum of X10.00 and other good
and valuable considerations and for the purpose of carrying out the intention
of the parties hereto to modify the above described Promissory Note and Mortgage,
and in further consideration of the reduction of said Promissory Note from
E24,800.00 to the present balance of~;11,675.23 principal and E229.99 interest,
. the undersigned parties hereto agree as follows, to wit:
1. That the present balance"of the Promissory Note dated March 25,
1976. to FIRST NATIONAL BANK OF FORT PIERCE by E. H. KLUEPPELBERG,~JR. is `
$11,675.23 principal and X229.99 interest; and said Promissory Note is presently
payable in monthly installments of 3216.69, including interest at 9~% per annum.
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