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MOR7Q~IOE MADl~ICATION AOR~E[~ENT
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1'his agreement made this 18th " ~y of Auaust A. D.~ i9~~,
by and betrnreen SOUYHEAST.~ Bm~ N•A. Florid~,
Atr161ATlS NAMt AND CITY
a bank~ng asaocietion, Party of the First Pert, end
Martin G. Gould ana Sufian Gould, his wife • ~
~ p~~q ies of the Saoond Part.
W11'NESSETH: . .
WHEREAS, the party of the first pert is the owner snd holder of that oertain martgage from the part 1eSaf tha seoand psrt
442-
dated Auaust 18, 1985 , and recorded in Official Record Baok74~ , PaQe~. of tise Public Raoords of
Tnd~ an R~ ver County, Florida, ~ . .
AND WHEREAS, the pany of the first part is now the owrtar and holder of that oertain promiunry note for wfiich said mort-
gaga vNSS given as security, said note being in the original principa) amount of
-----One hundred ten thousand dollaxs & no/~00-------------(S110.,Of~Q._oo1 ,
.
I~' AND WHEREAS, the partias hereto have mutually agreed to modify the terms of said note and mortgege,
NOW, THEREFORE, in consideration of the mutuai agreemants of the parties hereto, it is agreed as followt:
(1) Upcn the execution of this agreement, the totai outstending unpaid principal under said note snd mortgage is the
amount of._One hiindre ten ho ~aanci An11arS,~,.._n~,j~nn- ----(~1,Zpy.pn,(L nn;=..=_-- .
The parties hereto acknowledge that upon execution of tf~is agreement Lhe interest on said obligation shall have
been paid througfi _,gucJ~x~+- ~ 7 , ? ~8_6 •
' (2) ~aid note and mortgage is hereby amended and modified to ba payable ~s foliows:
Interest monthly, beginning September 18, 1986; Principal
payable in one semi-annual payment of $13,000.00, with remaining .
• balance of $247,000.00 principal plus interest due on August 18, 1987.
(3) From and aft8r August 18 , 1986 , interest rate on said note and mongage sh~ll be
Nine gercent__fixed peroent ( 9.00 p$r annum, int~rest ta be computed on th~
+ unpaid principsl balenoe.
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(4) This modiflcation is made on the expreas a~eer~nt and undarstanding that all othe~ provisians of said originsl note
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and mortgage shall remain in full force and effect save and exoept aa rr~odifi~d.by thie`aQisement, and in the event of
default sarr~ shaH at the eleciian of the rr~rtgagee operate to mature the futl indebtedness to imm~diate collection
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