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MODIFICATION AND EXTENSION AGREEMENT
THIS AGREEMENT, made this 29th day of April, 1980,
between FLORIDA BANK AT FORT. PIERCE, a Florida banking corpora-
tion, hereinafter called "Mortgagee" and JACKSON B. KING and
LOUISE T. KING, his wife, hereinafter called "Mortgagor".
WITNESSETH, that
WHEREAS, Mortgagee is the owner and holder of a
Promissory Note and Mortgage executed by Mortgagor to Mortgagee
on property described in said Mortgage, which Mortgage is dated
December 10, 1979, and recorded on December 12, 1979, in O. R.
Book 0595, Page 0445, of the. Public Records of Indian River ,
County, Florida, and which Mortgage secures a Promissory
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Note, dated December 10, 1979, ~in the original principal
amount of One Hundred Three Thousand Five Hundred Dollars
($103,500.00), and provides for quarter-annual payments of
Four Thousand Ten Dollars and 63/100 ($4,010.63), of accrued
interest, commencing on the 10th day of March, 1980, and the
final payment of -the entire principal amount and accrued interest
to the-date thereof, on December 10, 1980.
AND, WHEREAS, the Promissory Note bears interest
at the rate of 15.5$ per annum upon the unpaid principal balance. ~
i WHEREAS, the Mortgagor desires to and has .made a
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significant, advance payment of principal of the balance of
said Promissory Note.
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WHEREAS, it is the desire of all of the parties
g hereto that the payment dates, rate of interest, principal
balance remaining, and term of payments, as recited in said Note,
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be changed.
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B~~_ PA6E.1~.~.0 #
9RENNAN, McALILEY, HAYSKAR 6 McALILEY, ATTORNEYS AT LAW, 519 SOUTH INDIAN RIVER OR., FORT PIERCE, iLA. 33450 j.