HomeMy WebLinkAbout0980 53'~'~.96
i
MODIFICATION AND EXTENSION AGREEb~ENT
;
t
i
THIS AGREEMENT, Made this 15th day of June, 1981, by `
and between FLORIDA BANK AT FORT PIERCE, a Florida banking
corporation, hereinafter called "Mortgagee" and Larry J.
Whittle, hereinafter cailed "Mortgagor". ;
wITNESSETH that i
WHEREAS, Martga~ee is the owner and holder of a Promis- :
;
~
sory NutE and Mortgage executed by Mortgagor to Mortgagee on ~
property described in said biortgage, which Mortgage is dated ~
March 17, 1981, and recorded on March 18, 1981 in O.R. Book 350, ~
Pages 2611, 2622, and 2613, of the Public Records of St. Lucie
County, Florida, and which Mortga.ge secures a Promissory Note, ~
dated March 17, 1981, in the original sum of FIFTY THOUSAND
DOLLARS ($50,000.00), and provides for one (1) principal
payment of FIFTY THOUSAND DOLLARS ($50,000.00) plus accrued ~
r
interest at the rate of 17% in the amount of TWO THOUSAND NINETY
FIVE AND 89/100 ($2,095.89) due and payable June X5, 1981.
WHEREAS, it is the desire of all parties hereto that #
~ ~
the payment date, as recited in said Note, be changed. ~
NOW, THEREFORE, for good and valuable considerations, ~
~
i
~ it is hereby mutually agreed that the above-mentioned Promissory
~ Note shall be reformed to the extend that the payment of
~ princinal in the amount of FIFTY THOUSAND DOLLARS ($50,000.00) ~
~ y'
~ be extended until the 13th day of September, 1981, furthe: _
the said Promissory Note shall accrue interest at the rate
of 18% for a period of Ninety Days, from June 15, 1981 to
~ September 13, 1~81, in the amount of TWO THOUSAND TWO HUNDRED
a
NINETEEN AND 18/l0U ($2,219.18) and shall be due on September ~
F
13, 1981, otherwise all terms of the Note shall remain the same.
~
~ The parties hereto herEby further covenant and agree
~
~ that all other terms and conditions of the said Mortgage and
~
i Promissory Note, dated March 1?, 1981, shall remain in full
~ .
~
~ ~ force and nothing herein contaiaed shall in any way impair,
~
BOa(~ PAGE ~OV
~
_ ~ ~ ~ ~ , „ _ _ `~s"
~ .