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MORTGAGE MODTFICATION AGREEMENT j
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THIS AGREEMENT, mad~ this ~ day of September,
1986, by and between NORI~IAN PARKER PLATTS, hereinafter called ~
"PLATTS," and PLATTS GROVES, INC., a Florida corporation, here- ~
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inafter called "COMPANY;" ~
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W I T N E S S E T H: ~
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WHEREAS, on January 19, 1984, PLATTS deli~~ered to
COMPANY a purchase money mortgage (hereinafter called the
"Mortgage")1, in the original principal amaunt of Forty-five
Thousand Dollars {$45,000.00) on the following described lands
in St. Lucie County, Florida:
~ 'I'he West half of the SEQ of the NWa of
Section 22, Township 34 South, Range 39
East, less rights of way for public roads
and drainage canals. ~
~ which mortgage was recorded on January 19, 1984, in O. R. Book
421, page 2535, public recards of St. Lucie County, Florida;
and
- WHEREAS, PLATTS is the present title holder of record
of the lands described in said mortgage; and
E WHEREAS, PLATTS and COMPANY desire to modify the
- terms of payment of the Mortgage; .
NOW, THEREFORE, in consideration of the premises and
~ the mutual covenants hereinafter set forLh, the parties hereto
agree as fol].ows;
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1. The current principal balance of the indebtedness
, and said
secured by the Mortgage a.s $ 35,000.00
indebtedness shall be a able in semi-annual installments of
P Y
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; $2,500,00 in principal, plus 9g interest on each January 19,
~ beginning January 19, 1987, and interest only at 9o per annum
~ on each July 19, beginning July 19, 1986.
~ 2. As hereby modified, aIl other terms and
~ conditions of the mortgage and the promissory note secured
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~ thereby are hereby ratified, confirmed and approved.
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~ NEIL6 ORIiPIN JlFFRIC8 S ILOYD UQQ~ 5~4 PAGE 6/63
CHARTEREO
~ P.O. 90X 1270, FORT PIERCE~ FIOftIDA 33454 - TEIQPHONE (305) 464-8200
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