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~'""'~ Southeast Banks
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.,,,~~~.~ MORTQAO~ MODIFICATION ACiREEMENT
This agresme~t made this 2nd ~ of t'e:~ruarv
51'~431
. A. O., 19~~
by and bstween SOUTHEAST ~1rsL_I~Tational R~~nk nf !'nr! Pinrrn i'nrt Pinrrn F~~~,
AIFILIATt NAMt AMO C Ttl
a bsnking sssocistion, Pany of th~ First Psrt, snd ucorqo P. Enot , Ir ,. Michac~l R_ Bollina~r .
Brucc~ D. Perry, Michael A. Butt. and W~vne 1~ousP
.. Psn 1~_of the S~ow~d Psn.
YYITNESSETH:
lnlet Investors, Inc.,
WHEREAS, the party of the fint pan is the owner and holder of that oertain nart~ from ~tii~t~~if th~ seoond part
~t~ Octoher 1 Q t 1979 . snd recorded in Officisl Reourd Book31~.. Pape l. 4.1~., of the PuWic Reoords of
St . Lucie I`,ounty, Florids,
AND WHEREAS, the party of the first part is now the owner snd holdsr of thst oertsin promissory note for which said mort-
gage was given as security, said ~oLe being in the original principal amount of ~' if t•: T r__ h>>> sa nd 'i'wn ~
.
Hundreci Fift ;~ Dollars and no/100 ~~
------------------(..~3"250.001--------- ,
AND WHEREAS, the parties hereto hsve ~tu~ly apreed to modify ths terms of ssid note ~nd mo~ape,
NOW, THEREFORE, in consideration of the mutual syreements of the parties hereto, it is s~reed ss follows:
(1) Upon the execution of this agreement, the toLl outstanding unpaid principsl under said note snd mort~~ge is the
amount of Slxty Thou~~n 1 Dollar~ anci nn,r lilfl --------- -----
The parties hereto adcnowledge that upon execution of this agreement the inierest on said obligation shall have
been paid through F~~rv 1 19R1 _ _
(2) Said note and mortgage is hereby amended and modified to be paysble as follows:
(The princigal amount oi said note and mortga~e is i~creased
to $b0, OOO.OfJ - ref. Or Book 343 P~age 2075 for oric~ir.al recordir:~
c;f increase.) The unpaid principal ualance of said not~ and mortgage shall
be due and payable in 180 days on August l, 1981. Interest
shall be dLe a;td payable in qUarterly payments h~ginning
tila,~ 1, 1931 and again ~n ~~lugust 1, 1981.
(3) From and after r'~hruar~= ~ lqRl , interest nte on said note and mort~pe shsll be
Eiahteen • percent ( ~ R X,) per s~num, inhrost to be oort~uted on ths
unpaid principsl balanoe. .
(41 This modification is msde on the express sqreement snd understandin~ thst all other provisions of said oripinal note
and mort~aage shall remain in full,force and effect ssve and except ss modifiedjby this ~etment, snd in the event of
default same shall st the election ~of ttie morty~yee operate to msture the full indebtedness w immediate oollection
~d foreciosure.
•MT(i-3] (lI/75) M O6P34-035
IOVER-
. . ~~`~ 348 r~~t 2734
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