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MORTOAaE MOOIFtCAT10N AGREEMENT
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This agreement made this 14th day of March , A. D., lt#~80 , ,
by al,d between First National Bank of Ft. Pierce Ft. Pierce Fbrida,
A/FILIATt NAMt ANO CITY +
a bankirq association, Party of the Fiat Part, and John F. Pfeiffer and Jean Pfeiffer,
his wife.
. Part...~_of the Second Part. '
WITNESSETH:
WHEREAS, the party of the first pert is the owner and holder of that certain mortgage from the part. of the second part
Deceanber 14, 1979 ~ end reconkd in Officisl Record Book 322, 2073of the Public Records of
St. Lucie County, Florida, .
AND WHEREAS, the party of the first pert is now the owner and holder of thst oertsin promissory note fa which said mort-
gsge was given ss security, said rota being in the origins) princpal amount of 1'WBN'1R THOIISAND AND NO/100
---------------------------------------------------------($20,000.00)----
AND WHEREAS, the parties hereto have mutuslly agreed to modify the terms of said note and mortgage,
NOW, THEREFORE, in consideration of the mutual agreements of the parties hereto, it is agreed as follows:
111 Upon the execution of this agreement, the total outstanding unpaid principal under said note and Irwrtgage is the
FIFTEEN TSOUSAND AND NO/100-------------------($15,000.00)
amount of .
The parties hereto acknowledge that upon execution of this agreement the interest on said obligation shall have
ICI been paid through March 13, 1980 _ .
I
!2) Said note end mortgage is hereby amended end modified to be payable as follows:
j the entire amount financed plus all accrued interest-
shall be due and payable 94 days from the date of this
Agreement on Mine 16, 1980.
!31 From and aher March 14, 1980 ~ interest rate on said note and mortgage shall be Seventeen
percent ( 17.0 96) per annum, interest to be computed on the
0
unpaid principal balance. ~ { .
(4) This modification es made on the express agreement and understanding that all other provisions of said original note
. : - .
end mortgage shall remain in full force and effect save and except as modified by this sgreemeM, and in the event of
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default same shall at the election of the mortgagee operate to mature the full indebtedrle~ to immediate collection
and foreclosure.
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IOVERI
MT~i-31 (il/7S) M 06PS1-OSS
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