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MORTGAGE MODIFICATION AGREEMENT
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This agrwment made this 4th ~ of Seotember , A. D., 19~._,
by and betwean SOUTHEAST FIRST NATTONAL BANK OF FORT PIERCE Fbrida,
A/FILIAT[ NAM[ ANO CITE/
a banking association, Party of tM First Part, and WALTER L. C R?.TON
, Part Y_of the Second Part.
WITNESSETH:
WHEREAS, the party of the first part is the owner and holder of that certain mortgage from the part of the second part
dated January . 19 7 7 ,and mcorded in Official Record Book.~~ , Pages 72
7 of the Public Records of {
St _ Lucie County, Fbrida,
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 g~ ss security, said note being in the original principal amount of - .Seventy Thousand and
no/100 Dollars ~
AND WHEREAS, the parties hemto 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:
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l11 Upon the execution of this agreement, the total outstanding unpaid principal under said note and mortgage is the
amount of Twent~~ght Thousand and no/100 Dollars ~ ~
The parties hemto soknowisdge that upon execution of this agreement the interest. on said obligation shall have
I' been paid through July 4. 1980 _ .
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~ 121 Said note and mortgage is hereby amended and modified to be payable as follows:
j Sixty-Eight Thousand and no/100 Dollars payable as follows:
f Principal payments in the amount of $13,600.00 shall be paid annually
with the first payment due September 4, 1981. Interest payments shall
~ be payable quarterly with the first quarterly interest payment
i amounting to $2,257.38.
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l3? From and sfter_~~~ 4, 1980 ,interest rate on said note and mortgage shall be thirL`een
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Slid QIIe-ha ~ f ~ percent l ~Z..%) per annum, intemst to be computed on the
Unpaid pnnppal balance. 1
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l41 This modification is made on the exprass agreement and understNidi~'t}wt{sll other provisions of said original note 3
avid r+COrtgage shall mmain in full force and effect save and except as modified by this agreement, and in the e0ent of
default same shall at the election of the mortgagee operate to matum the full indebtedness to immediate collection
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~ and foreclosure.
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t . f . t_ ` (OVERT _ _ _ _ I
MTO-31 (11/75) M 0603a-OSS
3~ P~ 132
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