HomeMy WebLinkAbout0950 ~ ~;~353`S
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First National Bank ~ ~
AND TRUST COMP4NY OF STUART
MORTGAGE MODIFICATION AND EXTENSION AGREEMENT
This Mortgage Modification and Extension Agreement made thi~~day
of __~Sax , 19_$i, by and between FIRST NATIONAL BANK AND TRUST
COMPANY OF STUART, a National Banking Association existing under the laws of the :
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ited States f ineric h e fte ca d the "Mortgagee" and Gerald E. Souza and ~
~;PnrQianna ~ ~ouza,ahus~an~` an~d w~~e, and ~
Pattiria Ann '~~»Z8~ a.single ~nman of the C;aunty oi ~Y l:e2c~ie ;
State of Florida , hereinafter referred to as the "Mortgago~',
WITNESSETH: ' ~
WHERF.AS, on the_22_-day of Marrh , 198~, the
Mortgagors executed and delivered to the Mortgagee that certain Promissory Note in the
amount of ~ 35?nnn _ nn , which is secured by a Mortgage of even date therewith
executed by the Moztgagor in favor of the Mortgagee, which Mortgage is recordeci in Vtticiai
Record Boo]~.E?59 , Page i~~~ , st Lucie County, Florida,
public records, encumbering the property set forth in said Mortgage, and
WHERF.AS, the Mortgagors have requested that 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 hereinafter set forth,
NOW, THEREFORE, in cansideration of the sum of One (=1.00) Dollar and
other good and valuable consideration, r~ceipt of which is hereby acknowledged, including
the mut-ual 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 wit, the principal sum of
; 35,00O.OOhereby 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
rion of the original promissory note, providing for monthly installments of principal and '
interest, with the balance of indebtedness, if not sooner paid, due and payable on June 2015.
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 conditions 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.
5. Except as herein modified, the parties hereto recon~rm and ratify all of
the terms, conditions, provisions and covenants of said Promissory Note and Mortgage.
IN WITNESS WHEREQF, the parties hereta have caused this Mortgage
Motification and Extension Agreement to be duly executed the day and year first set forth
hereinabove. ~
MORTGAGEE:
~ - FIRST NATIONAL BANK AND TRLIST
A~~S;I`~,; ; : COMPAIVY OF STUART
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' 1 l"T~~~st ViZ;e President ashier ~j , eanne . ou oa cer
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~aales ~ Anthony I I I
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~ erald E. S uza
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