HomeMy WebLinkAbout1534~ I
..~;:;~;;.,- South~east Banks
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~.,,~~~~.~ MORTOAOE MOOIFICATION AGREEMENT
This apreement mads this 15th ~y of
5114~9
December
.A.~.,1Q$~~ ~
by ~nd between SOUTHEAST- First National Bank of Fort Pierce, Fort Pierce Florida,
AIrIL1ATt NAMt Al10 CITY
a ba~king association. Party of the First Psrt, and Georae P. Enot~ Jaiid Marlene Enot , his wife
YVITNESSETH: -
. Pan ies af the Seoa~d Psn.
3rd
WHEREAS, the party of the first psrt is the owner and holder of that aertain mortgage from the part~ of the seoond part
1553-
dated -- June 25th. 1979 , and recorded in Official Reoord Book311_, Page 1556 of the Public Reaords of
St. Lucie County, Florida,
3rd
AND WHEREAS, the party of the first pan is now the owner and holder of. that oertain promiuory note for which said mort-
~age was given as security. said note being in the original principal amount of ~NTY THO[7SAND DOLLARS
AND NO/100-----------($20.000.00)-------------------------------------------------~
3rd
AND WHEREAS, the parties hereto have mutually agreed to modify the terms of said note a~d mo~gage,
NOW, THEREFORE, in consideration of the mutual agreements of the parties hereto, it is agreed as fdlows:
3rd
Ill Upon the execution of this agreement, the total outstanding unpaid principal under said ~ote and mort9age is the
amountof ~~TY THOUSAND DOLI.ARS AND NO/100----------($20,000.00)--------------
The parties hereto acknowledge that upon execution of this agreement the interest on said obligatio~ shatl have
been paid through December 15th, 1980 .
(2) Said note and rtwrtgage is hereby amended and modified to be payable as follows:
Principal due in one year, December 15, 1981 and interest to be due
quarterly, beginning on March 15, 1981 and on the 15th of each
and every quarter thereafter with the final payment of interest
due on the maturity date of December 15, 1981.
(3) From and ahe~ Uecember 15, 1980 , interest raee on said note and mortga~e shall be *1~$ Over
Southeast of Miam.i Prime with a cap of 18$ *
percent 1 ~ R 96) per annum, interest to be computed on the
unpaid principal balsnce.
(4) This modification is mack on the express agreement and understanding that all other provitions of said originsl note
' and mortgage shall remain in full force snd effect save and exaept as modified by this a~rcement, snd in tha svent of
default same shall at the election of the mwtgagee operate to mature the full indebtedness to imrneciiate oollection
and foreclowr~.
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MT(i-31 {1~/73) M 06034~055
IOV~ER1
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~ '' ~ - 80~1(~4~ PAGE153~
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