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Southeast banks
MORTGAGE MODIFICATION AGREEMENT
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This sgrsemsnt made this 16th d,y of _ttt~ , A. D., 1g 80 ~ S
by and between SOUTHEAST Firet National Bank of Fort Pierce, Fort Pierce Fbrida, 1
Ar'ILIATt NAMt AND CITY
a banking. association, Party of the First Part, and John F. Pfeiffer and Jena Pfeiffer, his trlfe
. Part,JL-of the Ssrnnd_Part.
YYITNESSETH:
WHEREAS, the party of the first part is the owner and holder of•thst certain mortgage from the party of the second part
December 14, 1979 ,and recorded in Official Record Book 322 , Page
2073 of the Public Records of
St. Lucie County, Florida,
AND WHEREAS, the party of the fiat part is now the owner and holder of that aertsin promissory note for which said mort- `
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~ gage was given as security, said note being in the original principal amount of QTY THOUSAND AND NO/100-------- •
------------------------------------------------------------------------($20,000.00)---
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AND WHEREAS, the parties hereto have mutually agreed to modify the terms of said note and nartgage,
j NOW, THEREFORE, in consideration of the mutual agreements of the parties hereto, it is agreed as follows:
j 111 Upon the execution of this agreement, the total outstanding unpaid principal under said note and mortgage is the ~
amount of Tffid THOUSAND AND NO 100---------------------------------- 10 000.00
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~ The parties hereto sdcnowledge that upon execution of this agreement the interest on said obligation shall -hare E
.been paid tlxougll June 16. 1980. ~ = ~
~ 121 Said note and ~iortgage is hereby amended and modified to be payable as follows: I
I 1'he entire amount financed plus all accrued interest shall be due
and payable 91 days from the date of this agreement on September 15, 1980.
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13) From and after June 17, 1980 ,interest rate on said note and mortgage shall be FOURTEi~I--
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o ---------------------percent 14.0 q~,) ~ annum, interest to be oorr~uted on the
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unpaid principal balance.
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(4) This modification is made on the express agreement and understanding that all other provisions of said original note
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and mortgage shall remain in full force and effect save and except as modified by this agreement, and in the event of
default same shall at the election of the mortgagee operate to mature the full indebtedness to immediate collection
• and foredosun. , . - _ -
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MTG-31 (11/71)• 1110603-OSS
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