HomeMy WebLinkAbout2208.~;;;;;~~, 51.4164 1 ~
=:.~.: Southeast Banks
~.,;~~~~.~` MORTGAGE MODIFICATION AGREEMENT
This agreement made this 10th day of December ~ Yesesd7 ?~,$~_~
by and between SOUTHEAST F;rsr Nat~;nnat Rank of For i _r . _, Fo Pi Florida,
APrIL1AT[ NAM[ AND CITY
a banking association, Party Of the Flrst Part, and Mark T._ ,rant and Na_ne~ V _ Grant, hi s ,yfi fe
.Part ies of the Second Part.
WITNESSETH:
WHEREAS, the party of the first part is the owner and holder of that certain mortgage from the partite. of the second part
1339-
dated June 27th, 1980 ,and recorded in Official Reoorcl Book334 ~ page1342 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 principal amount of Thirteen Thousand Dollars and 1N0/100
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:
11) Upon the execution of this agreement, the total outstanding unpaid principal under said note and mortgage is the
amount of Ten Thousand Dollars and 1!To/100---------(510,000.00)------------------
The parties hereto acknowledge that upon execution of this agreement the interest on said obligation shall have
been paid through December 10, 1980 ,
12) Said note and mortgage is hereby amended and modified to be payable as follows:
Payable in full on June 10, 1981.
AecP`
Oue
hue
COa-
(3) From and after December 10, 1980 ,interest rate on said note and mortgage shall be Fifteen
percent ( 15.0 96) per annum, interest to be computed on the
unpaid principal balance.
(4) This modification is made on the express agreement and understanding that all other provisions of said original note
and mortgage shalt 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 foreclosure.
MT(i-31 (11/7S) M 060.51-OSS
I
i
~~ _ _-
9~oNE
Recsrww ~ in Pa~rarttt OI Tws
ol,.On Chas "C" IrtfargibM'atMN1~1g/II~
ant 7e C1rAr 71.1if-AM~OI tAf. y
IOVERI I~Al~~ ^~r~1
Clglti Ctt~ ~~ ~ 1ill~i a1.
8001(J~4 PAGE~O7
- -
,~.