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MORTGAGE MODIFICATION AGREEMENT - Page Two
WHEREAS, the parties hereto desire to modify the terms of
payment of the aforementioned promissory note and mortgage;
NOW, THEREFORE, in consideration of the premises and the
mutual covenants hereinaFter set forth, the parties hereto
agree as follows:
1. MORTGAGOR represents and warrants that it is the owner
of the above-described real property and that there are no
liens or encumbrances against said property other than the
aforementioned mortgage and real estate taxes accuring
subsequent to December 31, 19$D .
2. The current principal balance of the indebtedness
evidenced by the aforementioned promissory note is in the
amount of $~6, 3as. ~~, and the accured interest on said
indebtedness has been paid through December 28, 1980.
3. The rate of interest on the indebtedness evidenced by
the aforementioned promissory note is hereby increased ~rom 8$
per annum to lU-1/2$ per annum effective December 29, 1980 and
the amount of each monthly installment is hereby increased from
$1,547.34 to $1,847.01 effective for the payment due on January
28, 1981.
4. As hereby modified, all terms and conditions of the
aforementioned promissory note and mortgage are hereby
ratified, confirmed, and approved.
5. Nothinq contained herein shall be construed to impair
the security of MORTGAGEE under the aforementioned mortgage.
6. This Agreement shall be binding upon the parties
hereto, their personal representatives, heirs, beneficiaries,
succ~ssors and assigns.
IN WITNESS WHEREOF, the parties have executed this
Agreement in dnplicate, each of which shall be considered an
original, on the day. and year first above written.
NEILI ORIFFIN J[/r111[S i I.LOYO
CMApTERCD
P.O. 901t ~270~ ~ORT P~ERCE~ flOR10A ~346~ - TEIEPNONE 1305) 16t-a200
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