HomeMy WebLinkAbout0931
:~~Southeast Bank N.A. '713~83 ~ v
,
MORTGAGE MODIFICATlON AGREEMENT
Th~s agreement made this 1G~ day of June , q. Q., ~g 85 ~ ~
:
ey and bet~veen SOUTNEAST rI.A. f/k/a Southeast Fizst I~Iational Bank of Fort ?i~t~,da, ~
f/k/a First ~?ationa~FBl~McT~d'f"'~'6i'~°Pi~ce, Fort Piercr-
a banking association, Party of the First Pari, and j
Charles R. O'~onovan, Jr. and Katherine J. O't~onc>van, his wife ~
, Part =eS of the Second Part.
WlTNESSE7H:
WHEREAS, the party of the f~rst part is the owner and holder of that certa~n mortgage from the part 1G'S of the second part
dated D2c'E~tLhPr 1981 , and recorded ~n Official Record Book~i$., Pagr: 2Q17 oi the Public Records of
__$t _ Ti~~i e County, ~lor~da,
AND WHEREAS, the party of ihe fi~st part ~s now the owner and holder of that certain prom~ssory note for which sa~d mort
gage was given as security, said note being in the originai princ~pal amount of _~e Hllridl^@d `?hn `lho ~S nd pp; 1 rs an.~
~
riOli00--------- ~Q_, ~0-~Q)
AfVO WHEREAS, the parties hereto have mutual(y agrecd to modify the terms ot said note and mortgage,
NOW, THEREFORE, in consideration of the rnutual agreements of the partfes hereto, it ~s agreed as foilows~
l1) Upon the execution of this agreement, thz tota! outstand~ng unpaid principal ~nder said note and mortgaye is the
arnou~~t ot T,iqhty-four `IYiousand Six Htuldred Eleven Dollars and 15/I00--------------
(584,611.15) ~
The parties hereto acknowledge that upon execution of this agreement the interest on saiJ obligaiion shali have
~ been•~raid thraugh _~TUriE 9, 1985
, ~ -
(2) ~Said n'ote and mottgage ~s hereby amended and mod:fied to be payable as follows:
~inc~pa? and Interest shall be dtie ar~d payal~le in 35 consecutive monthly
instalL~nents of S1,055.65 beginnirx3 July 10, 1985 and on the lOth day of
each month ther~after until June 10, 19~8 at which time the entire taalance
of Principal plus ~ccrued Interest shall t~ due and payable. THIS IS A
Bl1i~I~ON ?~R'I~~F~ .
(31 From and after JuiK 1f1~ 1985 , ~nterast rate on said note and mortgage shaii tx; ~~~V?
3?1d ±hree-~aarters perceni 1 ~ 2• 75 0) ?~er annum, interest to be computed on the
unpaid principal balance.
(di Thi; modificatfon is made on the express agreement and understanding that all other provisions of said onginal note
a~d mortgage shaU remain ~n f~l! furce and effect savo an~f except as m~dified by this agreement, and in the event of I
default same shall at the election of the mo.tgagc~e operate to maiure ihe ful! i:rdebtedness Lo immediate colleciion ~
and foreclosure. ` I
(OVERI '
:>-MTG•31 (1L ?51 M 06a54-O55 '
~ ~~,~~K4fi9 ~,~E 931 ;
- ~
_ ~ ~ ~ ~ ~ ~.~`z~r ~r~
_