HomeMy WebLinkAbout0982 MORTGAGE MODIFICATION AND EXTENSION AGREEMENT
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THIS AGREEMENT, made this 19th day of June, 1981, by
and between FLORIDA BANK AT FORT PIERCE, a Florida banking
corporation, hereinafter called "Mortgagee" and C.J. Deakins, Jr.
and Richard K. Carrall~ hereinafter called "biortgagors".
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WINESSETH that
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WHEREAS, biortgagee is the owner and holder of a Promissory
Note and Mortgage executed by Mortgagors to Mortgagee on property
described in said Mortgage, which Mortgage is dated February 19, 1981,
and recorded on February 23, 1981 in O.R. Book 349, Pages 128, 129
and 130, of the Publ.ic Records of St. Lucie County, Florida, and
which Mortga~e secures a Promissory Note, dated February 19, 1981, t
in the ori~inal amount of NINETY EIGHT THOUSAND FIVE HUNDRED AND NO/100
($98,500.00), and provides for one(1) principal payment of NINETY
EIGHT THOUSAND FIVE HUNDRED AND NO/100 ($98,500.00) plus accrued
interest at the rate of 18% in the amount of FIVE THOUSAND EIGHT
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HUNURED TWENTY NINE AND 04/100 ($5,829.04) due and pavable June 19, 1981. ~
wHEREAS, it is the desire of all parties hereto that the ~
~ payment date, as recited in said Note, be changed. tl
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NOW, THEREFORE, for good and valuable considerations, it is ~
hereby mutually agreed that the above-mentioned Promissory Note shall
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be reformed to the extent that the payment of principal in the amount
~ of NINETY EIGHT THOUSAND FIVE HUDIDRED AND NO/100 ($98,500.00) be
~ extended until the 16th day of December, 1981, further the said ~
~ Promissory Note shall accrue interest at the rate of 18% for a
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~ period of ONE HUIv'DRED EIGH'fY (180) DAYS, from June 19, 1981 to
~ December 16, 1981, in the amount of EIGHT THOUSAND SEVEN HUNDRED
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~ FORTY THREE AND 56/100 ($8,743.56) and shall be due on December 16, ~
~ 1~81, otherwise all terms of the Note shall remain the same.
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The parties hereto hereby futher covenant and agree that
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E all other terms and conditions of the said Mortgage and Promissory
~ Note, dated February 19, 1981, shall remain in full force an~l no-
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t thing herein containPd shall in any way impair, alter or diminish
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