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SOIIt~St ~11~CS 49~~02 ~ /
MORTQAOE MODIFICATION AGREEMENT ~
This apeement made tha 4th day of August , A. D., 1 Q 8
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by and between SOIJTNEAST FTR~T NATTONA SANK OF FORT PIERCR _ FORT PI .R _ Florida,
AI~ILIATa NAMt ANN CITY
a barrlkirg assodstion. Party of the First Part, and Ray K i n !J B u r c h
. Part Y.,of the Second Part.
WITNESSETH:
WHEREAS, the party of the first part is the owner end holder of that certain mortgage from the part.. of the second part
1444-
~ia~r bfih.r_1980 ,end recorded in Official Record eook~l., Page 1448 of the Public Records of
S t . Lucie County, Florida,
AND WHEREAS, tM party of tM first pert is now the owner and holder of that certain promissory note for which said mort-
gage was green as seairity, said nose being in the original principal amount of TWENTY THOUSAND DO.LLARA
AND NO/100-----------------(520,000.00)---------------------------------
AND WHEREAS, the parties hereto have mutually agreed to modify the terms of said Hots and mortgage,
NOW, THEREFORE, in consideration of the mutual agreements of the parties hereto, it is agreed as follows:
111 llpoo~the exeanion of this sgreemeM, the tool outstanding unpaid principal under said note and mortgage is the
amount of TWENTY THOUSAND DOLLARS AND NO/100-----($20,000.00)--------
The parties hereto acknowledge that upon execution of this agreement the interest on said obligation shall have
f bean paid thr~ougfi August 3rd , 19 8 0 .
12) Said rate and mortgage is hereby amended and modified to be payable as follows:
k
E One (1) payment of $20,000.00 plus interest
payable on or before September 3, 1980.
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(31 From and after August 4th , 19 8 0~ interest rate on said note and mortgage shall be Th i r t e e n
percent ( 13 .O 961 pw annum, interest to be computed on the
unpaid principal balance. ~ .
141 This mo~fication 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 ss mo~ifib~'tiyttAit epreement, and in the event of
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.default- same shall st the election of the mortgagee operate to mature the full indebtedness to immediate collection
~ and foreclosure.
IOVERI
! MTO-ai tiu»~f~~o-s4oss t~~'s
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