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Home My WebLink About1131 and any renewals, modifications, and extensions thereof, and that Mortgagor is presently indebted to Mortgagee by virtue of said Promissory Note dated April 4, 3 1974, in the Principal sum of x167,733.43, plus accrued interest as of January 15, 1980, in the amount of x47,165.49, totaling x214,899.92, with aI< per diem rate of 1139.06 from January 15, 1980, free and clear of any defense, set-off or f • counterclaim as of-the closing date hereof. 5. Mortgagor acknowledges and confirms that the Mlortgage Deed dated October 31, 1975, constitutes a valid first lien encumbrance on the real property described therein and secures payment of the Promissory Note dated October 31, 1975, and any renewals, modifications, and extensions thereof, and that Mortgagor -is presently indebted to Mortgagee by virtue of said Promissory Note dated October 31, 1975, in the principal sum of x25,000.00, plus accrued interest as of January 15, 1980, in the amount of x7,107.83, totaling x32,107.83, with a per diem rate of x5.82 from January 15, 1980, free and clear of any defense, set-off or counterclaim as of the closins date hereof. 6. Mortgagor acknowledges and confirms that in addition to the sums ~ hereinabove set forth for which Mortgagor is presently indebted to Mortgagee by virtue of the said Promissory Notes dated April 4, 1974 and October 31, 1975, any renewals, modifications aid extensions thereof, Mortgagor is indebted to Mortgagee for the additional sum of x7,659.23 for attorneys' fees, appraisals and travel in connection with the Chapter XI action of Mortgagor and that the Mortgage Deeds dated April 4, 1974 and October 31, 1975, respectively, constitute t valid first liens and encumbrances on the property described therein to secure 4 the payment of said sums, free and clear. of any defense, set-off or counterclaim as of the closing date hereof. f 7. Anything contained on the said four Promissory Notes and the three Mortgage Deeds hereinabove described to the contrary, notwithstanding, it is agreed the same are modified as follows: All accrued and unpaid interest on the said four Promissory Notes as of January 15, 1980, and the attorneys' fees and costs set forth in the seventh and eighth "Whereas" clauses as herein- above set forth are immediately due and payable and are paid by the addition thereof to the principal due on the said four Promissory Notes, making the total principal balance due on € said four Promissory Notes 5481,510.01, which sum if secured by the respective Mortgage Deeds to the same extent~as originally secured thereby. -4- r - ~ g~x33~ P~E~.131 .