HomeMy WebLinkAbout2901_,;:,~~:.: Southeast Banks 5i~519
:s-;•~~;~': MORTGAGE MODIFICATION AGREEMENT
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THIS IS A BALLOON MORTGAGB AND THE ~
FINAL PAYMENT OR THE BALANCE DUE UPON
2iATURITY IS $74,052.85, TOGETNER l•lITti
ACCRUED INTEREST, IF ANY, AND ALL ADVANCE-
MENTS MADE BY THE MORTGAGEE UNDER TH ~o
TERMS OF THIS MORTGAGE.
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Th~s agreement made c~~: 19 th day ot Feb ruarv , n. o.. ~9 $~ .
by and becween SOUTHEAST FIRST NATIONAL BANK OF FOFT PIERCE Fiorids,
A//ILIATt MAML ANO CITV
a bsnking association, Party oi lhe First Pa~t, and CHARLES J. BAKER. JR.
' WITNESSETN:
, Part ~_of the Seoond Part.
WHEREAS, the party of the first part is the owner snd holder of that oertain mortgage from the part~ of the sec:or-d part
dated November 29 . 19 ~2 , and recorded in Official Reoord Book_Zfl$, PagP~1790 of the Pudic Reao~ds of
St_ Lucie County, Florida,
AND WHEREAS, the pa-ty of the first part is now the owner and holder of that certain promiuory note for which said mort-
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gage was given as szcurit~ id note being in the original principal amount of Ten an d nc~/ 1 nn Dc~l 1 ars
AND WHEREAS, the parties herato have mutually agree~ to modify the terms of said note and mortgage,
NOW, THEREFORE, in consideration of the mutual agreements of the parties hereto, it is agreed as follows:
(1) Upon the execution of this ag:eement, the total outstanding unpaid principal under said note and mortgage is the
amount of none
The parties hereto acknowledge that upon• execution of this agreement the •interest on said obligation shall have
bee~ pa~a tn~a,yt, interes t paid in~ full •, .
(2) Said note and mortgage is hereby amended and rnodified to be payable as follows:
Seve~nty-Five 1ho~a~d and no/10(1 Ibll.ars ($75,000.00) pa_yable in thirty-fiv~e (35)
installments of Q~e Thousand Forty-Zhree ~d 44/100 Dollars ($1,043.44) , and ane (1)
payment, being the 36th payment, in the arount of Sev~enty-Four ~ou~s~d Fifty-1t,~o
~d 85/100 IbllaYS ($74,052. 85) , cannencint; on the lst day of Anril, 1981, ~d the
Lst day of each ~d every m~on~ thereafter, with the final payment being due rn
t~tarch 1, 1984. Prenayme~it in whole or in part at ~ry time, withaut nenalty, is
reservied by r'iaker.
(3) From and after Feb . 19 , 19 $1 , interest rate pn said note and mortgage shall be <
S 1Xtee11 percent (~6 96) per annum, inte~est to be computed on the
unpaid principal balance.
• (4) This modification is made on the express agreement and understanding tF-~t ail pther pqvisions of said original note
and mortgage shall remain in full force and effect save and except as modified by tfiis ag-eement, and in the event of
defsult same shall at the electior. of the mortgagee nperate to mature the full indebtedness to immediate collsction
and foreclosure. Receiverl S~L ~' ~ In Payment Of Tsx~!
CuP On Cla,~c -.~.. ~r~•.c-~-:+~Pot50~18~~tGM~Yr
puts~iant To Chari;e~ ; ~,? 3•:. ACi! a~ ~~.
ROGE? PC)~ TR.~S
~':INrs ~~reuit Co~:rt, :it. Luue, Co., FI~.
SMtO-31 (1!/~S) M oeo-sa-oss
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(OVER)
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