HomeMy WebLinkAbout0960 ' , t. ' j i 1; i
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F~rst Nanonal Sank
AND TRUST COMPANY OF STUART
iaivRTGAGB MODIFICATION AND EXTENSION AGREEMENT
This Mortgage ModiBcadon and Extension Agreement made this t 4rh ~y
of A~ ril , 19 84 , by and betareen FIRST NATIONAL BANK AND TRUST
COMPANY OF STUART, a National Banking Association existing under the laws of the
United States of America, hereinafter called the "Mortgagee" and Daniel E. Stalker, Joseph H Moll
& Charles A. Fraraccio as Trustees of the Daniel E. ofthe County of Martin
Stalker M.D. P. . Emp oyees Pens on Trust '
~t~tP Q~ Flor~ds ~~:~3~afts~r • £~sr~~ t ~s th~ ~ '
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WITNESSETH:
WHEREAS, on the 13th~y of Avril , 1981 the
Mortgsgors executed and delivered to the Mortgagee that certain Promissory Note in the
amount of ; 146, 000 . 00 , which is secured by a Mortgage of even date therewith
executed by the Mortgagor ia favor of the Mortgagee, which Mortgage.is recorded in Official
Record Book 353 , page 1224 , St. Lucie County, Florida,
public records, encumbering the property set forth in said Mortgage, and
- WHEItEAS, the Mortgagors have requested tliat the Mortgagee extend the
time of payment of the balance due and owing under said Promissory Note and mortgage,
the Mortgagee being willing to do so under the terms and conditions hereinaftei set forth,
NOW, THEREFORE, in consideration of the sum of One (;1.00) Dollar and
other good and valuable consideration, receipt of which is hereby acknowledged, including
the mutual promises and covenants made herein,. the parties hereto do agree as follows
1. 'The Mortgagee does hereby extend the time of payment of the balance ~
due and owing under said Promissory Note and Mortgage, to wi~ the principal sum of .
~122,066.24 hereby making the same due and payable in accordance with the Adjustable
Rate Note which has been executed by the Mortgagor simultaneously herewith as a modifica
tion of the original promissory ttote, providing for monthly installments of principal and
interest, with the balance of indebtedness, if not sooner paid, due and payable on~:. 1994.
2. The original Mortgage is hereby modified by the addition thereto of the ~
Adjustable Rate Rider executed by the Mortgagor which is attached hereto and made a part
hereof as Exhibit "A".
3. The Mortgagor does hereby acknowledge the above indebtedness and
~ Mortgage and does hereby ratify and affirm all of the terms and condirions of the original
` Mortgage and does further acknowledge liability under the terms of said Mortgage and
~ Promissory Note, as herein modified
~ 4. This Modification and Extension Agreement shall not be deemed a waiver
~ of any rights of the Mortgagee under the terms of the original Promissory Note and Mortgage
~ except as said terms are modified herein.
. S. Except as herein modified, the parties hereto reconfirm and ratify all of
the terms, conditions, provisions and covenants of said Promissory Note and Mortgage. ~
IN WIINESS WHEREOF, the parties hereto have caused this Mortgage
Motification and Extension Agreement to be duly executed the day and year first set forth
hefeinabove. ' ~
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, ~ _ ~ MORTGAGEE:
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~ FIRST NATIONAL BANK AND TRUST
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f° CO ANY OF STUART
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~ MottT~AGO MORTGAGOR n0.~~/ 4~ P~~~ ~9
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~ DANIEL E. STALKER, as Trustee JOSEPH H. MOLL, as Trustee
, ~ `U2~e~c-~? ct.~ a ~ c~w /y...~. ' Witryess
CHARLES A. FRARACCIO, as Trustee
~ Witness
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