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MORTGAGE MODIFICATION AGREEMENT
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This agreement made and entered into this 22nd day of
JanuarY , 1981, by and between DONALD G. HINKLE and LINDA
HINKLE, his wife, hereinafter referred to as mortgagor and RAYMOND
HINKLE and HENRIETTA HINKLE, his wife, hereinafter referred to as
mortgagee.
The parties recite and declare that:
a. Mortgagee is the holder of a certain note, conditioned for
the payment of Twenty Sev~en Thousand and no/100 dollars ($27,000.0 0),
made by niortgagor and dated January 14, 1980,.and due February 25, 1995.
b. Such note is secured by a mortgage dated January 14, 19 80,
and recorded on January 16, 1980-in O.R. Book 323, Pages 2735 thro ugh
2737 of the Public Records of St. Lucie County, which mortgage is now
a lien on the following described real property situate in St. Lu cie
County, Florida:
Beginning at a point on the West line of the SE~. -
of the NE~ of Section 35,Township 35 South, Range ~~
40 East, which point is 955 . 36 feet North of the ~~~ ~
Southwest corner of said SE~ of NE; of said Section;
thence run North along said West line 100 feet, ~~ N ~
thence East parall el w i t h t h e S e c t i o n l i n e t o t h e ~~ ~~~
shore of Indian River; thence in a Southeasterly ~ W j a~
direction along the shore of the Indian River to a m=~
point 955.36 feet North of the South line of said o~~ ~ N
SE~ of NE~ ;. thence West to the point of beginning . ~~~~
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c.That the present balance~of said note and mortgage is -
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$26,152.77, with interest thereon at the rate of 9~$ per annum, » ~~ ~
with the next payment due ~hereon on February 25, 1981. o ~
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d That the arties are desireous of makin the followin W C
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modifications to said mort5age:
. l. That the principal remaining indebtedness due under
said mortgage and note is increased by $10,500.00, making the new
remaining balance due under said note and mortgage $36,652.77. ~
2. That the amortization period of said note and .~
mortgage is hereby extended to a period of 20 years, which period
shall run from the date of the original note and mortgage.
3.'It is hereby agreed that this mortgage shall not
be assignable, assumable or transferable by the mortgagor without
the prior written consent of the mortgagee. J
-^.. ~n all other resnects, all of the terms and condit-
ions of said note and mortgage shall remain in full force and effect,
including the right of the mortgagor to prepay the entire principal
and accumulated interest in whole or in part at any time-without
penalty.
e. When the terms and provisions contained in the note and
~ mortgage in any way conflict with the terms and provisions contained
in this agreement, the terms and provisions herein contained shall
prevail, and as modified by this agreement, the note and mortgage
are t-ereby ratif ied and conf irmed .
f. This agreement s2ia11 be binding on the heirs, executors,
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RONA~D PAUL WHITLEV ATTORNEY AT LlaW, 8380 S FEDERAI HIGHWAY PORT ST WCiE. f~ORIDA 334Fi2 °~
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