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,'" "'~ Southeast Banks
~~"~~~~~~ ~` MORTQAGE MODIFICATION AGREEMENT
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This agreement made this 17th
by a~d between SOUTHEAST
519U6'7
diy Of ~ n~ ~: ~ r v
, A. D.. 19_,$~.._.
~'ir~t Nation~l Batzk of Fort Piercn . Fort Pierc~ Florids,
AF/ILIATt NAMt ANO CITY
s banking associstion, Party of the First Part, and ~u:~~~ R, IvlcLa uahlin, a s ingle adult
. Part v of the Seoo~d Ps~t.
WITNESSETH:
WHEREAS, the party of the first part is the owner and holder of that prrtain mottg~ge from the psrt `w' of the ssoond put
~t~ FF•i~ru~rv 2. 1976 and recorded in Officisl Reoord Book~. Ps~ of the Public Reoordsof
St, i.uCie r,ounty, Florids,
AND WHEREAS, the party of the first part is ~ow the owne~ and holder of thst oertain promiuory note for which said mort-
gage was given as security, said note being in the original principsl amount of Forty Thoiasa::cl tiollars 3nci
r~u/100-----------------------------------------($40„ OOO.OQ)-----------
AND WHEREAS, the parties he~eto have mutually agreed to modify the tarrm of said note snd mortpsye,
NOW, THEREFORE, in consideration of the mutual agreements of the parties hereto, it is sgreed ss follows:
ll) Upon the execution of this agreement, the total outsta~ding unpaid principal under said note and mortgage is the
' amount of ThirtL-nine Thousana dc~llur~ ~rd nof 100-----(S'~9, o[~n_ nn~--- .
The partiss hereto acknowledge that upon execution of this agreement the intersst on said obligation shall have
been paid through Fenruarv 16, 1981
(2) Said note and mortgage is hereby amended and modified to be payable as fotlows:
P~~ymer~t t3ue FebrLary l~, 19&1, in the :~mount of $a,000.00
p~us interest has ~~een ~mes~deu as fellc~ws: $1, 000.00 plus
-nterc=~t due and p~y~;,le Febru~~ry 17, 1981 with the principal
reductic~n of $4, OOU. Of1 extended to I~uqust 1~, 1981.
(3) From and after F~'~~;~c~iY ll. 19n1 , inurest rate on said note snd mortpaye shall be
Fourte~~i: percent (~~-96) per annum, interest to be oomputed o~ the
unpaid princip~ balance.
(4) This modification is made on the express syreement and understandin~ that all other provisions of said ori~inal note
and mottgage shall remain in full foroe and effect save and except as modified by this agreement, a~d in the event of
default same shall at the election of the mortgapee opente to msture the full indebbdness to immediate collection
r`-
and foreclosure.
•MT(i-31 (11/75) IM 0603~-OS5
IOVERI
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