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MORTCAGE MODIFICATION AG'tEEMEi~f ' _ ~ '
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THTS ACREE.~~iT made this ~:~~ day of Noveml~.•r. : Q. ~ 1980, ,
by ~~d betweea SOI,THEAST FIRST NATIONAL t3l~~iIC OF FUR 'IERCE.
F~rt Pierce ~ Florida ~ forar:erly known as FIRST NATIC !.~ ~ BA~lE: OF i'ORT
P7 ;RCE a~.3nking ::s=:ociatio~~, Party of tr~e F= rst Pa ~-t. as '':•Iort~ag~. ''
and LtJCILLE V. COSTA . GEOF Gt: A. COSTA, LUCILi. : V. C~ ~TA, INC ,, a
Flori :ia Corr orat i= •.: as "t Iortgagor : an d
Recei-~er in Bankruptcy for GEORGE A. COS I'A. t_=JG tLLE V. COSTA an:l
LUCILLE V. COSTA. It1C. ~, in the United States Ui stri~:t Court of New
Jersey~ Case No: B-76-2704, as "Receiver"~ !'arties of the Second
Part.
~1ITNESSETH:
WHEREAS, the party of the first part is the owner and holder of
that certain mortgage from the parties of the second part dated
November 4, 1975, and recorded in Official Recocd Book 245. Page
1442-~ of the Public Records of St. Lucie County, Florida, as modified
by that certain Mortgage Modification and Spreading Agreement
dated June 30. 1978, and recorded in OR Book 293, Page 1515, Public
Records of St. Lucfe County, Florida.
WHEREAS. the party of the first part is na~,• the owner and
holder of that ce2-tain promissory note designated Replacement
Note No. 2 for which said mortgage was given a~ security. said note
being in the original principal amount of $436,118.29 and being
dated June 30, 1978. -
AND i1HEREAS, the parties hereto have mutually agreed to modify
the tezms of said note and mortgage,
NOi~I. TNEREFORE. in consideration of the mutual agreements of
the parties hereto, it.is agreed as follows:
(1) Upon the execution of this agreement, the total
outstanding unpaid principal under said note and mortgage is the
amount of $365,317.04. The parties hereto acknowledge that upon
execution of this agreement the interest on said obligation shall
have been paid through ~a*~uary 11, 1980.
(2) - Said not~ and mortgage is hereby amended and modified
to be payable as follows: That said note shall be payable in monthly
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fnstallments of $2,500.00 begfnning on February 1, 1981. and on the '~
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first day of each suceeding month thereafter through June 1. 1983.
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