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Souti~east Banks
MORTOAQE MODIFICATION At3REEMENT
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This agreement made this 27th day of Jung , A. D., 1g 80
by and between First National Bank of Fort Pierce Florida,
AFIILIATt NAMt AND CITY
a banking suociation, Party of the-First Part, Imd DouSlas M. Ruth and Patricia P. Ruth, hie wife _ t
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. Part ~L_of the Second Part.
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WITNESSETH:
WHEREAS, the party of the first part is the owner and holder of that certain mortgage from the partY_, of the second part
Auttust 1, 1978 ,and recorded in Official Record Book 291 , p,~l. 909 of the Public Records of
St. Lucie County, Florida. - -
AND WHEREAS, the party of the first part is now the owner and holder of that certain promissory note for which said mort-
gage was given as security, said note being in the original prinktipal amount of dirty Five Zhousand and - 00/100---
---($35,000.00)-
ANO WHEREAS, the parties hereto have mutually 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 mortgage is the
amount Of ~irC~ '14.rn+aA*+d and 00/100--------------- ($30.000.001
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- The parties hereto acknowledge that upon execution of this agreement the interest on said obligation shall have
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been paid through Jttae 26. 1980
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.121 Said note and mortgage is hereby amended and modified-to be payable as follows: In 119 consecutive
monthly payments of $315.97, principal + interest, beginning on July 27th, 1980, ~
and on the 27th day of each month thereafter until June 27th, 1990, at which
time a BALLOON payment of approximately $26,642.89 will be due:
131 From and after June 271980 ,interest rate on said note and mortgage shall be Ttaelye-----
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percent 1 12.076 Per annum, interest to be computed on the
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unpaid principal balance. ,
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14) This modification is made on the express agreement and understanding that all other provisions of said original note '
and mortgage shall remain in full force and effect save and except as modified by this agreement, and in the event of
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default same shall at the election of the mortgagee operate to mature the full indebtedness to immediate oollsction t
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and foreclosure.
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OVER
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