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MORTGAGE MODIFICATION AGREEMENT
505536
This agreement made this 17th day of _ SBntr~mhAr , A. O., 19
80
by and between SOUTHEAST First National Bank of Fort Pierce, Fort Pierce Florida,
ARFILIATt NAMt AND CITtl t
a banking auociation; Party of the First Part, k::~d Alexander R. DeMarco and Mary C. DeMarco,
his wife
.Part 1@S__of the Second Part.
' WlTf+lESSETH:
WHEREAS, the psrty of the first part is the owner and holder of that certain mortgage from t~i~$art.~SSof the second part
dated March 21, 1980 ,and recorded in Official Record Book~~., Page
682 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 Thirty Thousand Dollars and
no/100----------------------------------------------------------------
AND 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: ~
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111 Upon the execution of this agreement, the total outstanding unpaid principal under said note and mortgage is the
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amount of 'thirty Th~~sand Dollars and nn/100------------------------------ s
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The parties hereto acknowledge that upon execution of this agreement the interest on said obligation shall have
been paid through S~ptetnber 16, 1980
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~ 121 Said note and mortgage is hereby amended and modified to be payable as follows:
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(31 From and after September 17, 1980 ,interest rate on said note and mortgage shall be Thirteen
and (~nP-Half ~ percent ( 13 _ 50 96) per annum, interest to be computed on the
g unpaid principal balance.
3 (41 This modification is made on the express agreement and understanding thai.ati~~thes ptovisions 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
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default same shall at the election of the mortgagee operate to mature the full indebtedness to immediate collection
and foreclowre.
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IOVERI ~
MTG-31 (11/75) M 060.540SS
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