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THIS MORTGAGE EXTENSION AGREEMENT SECURES A VARIABLE ADJUSTABLE
RATE OBLIGATION. ASSUMING THAT ~HE INITIAL RATE OF INTEREST WERE
TO APPLY FOR THE ENTIRE TERM OF THE MORTGAGE, THE FINAL PAYMENT
OR THE BALANCE DUE UPON MATURITY WOULD BE APPR~XIMATELY
$152~000.00, TOGETHER WITN ACCRUED INTEREST, IF ANY, AND ALL
ADVANCEMENTS MADE BY THE MORTGAGEE (BANiC) UNDER THE TERMS OF THIS
MORTGAGE.
MORTGAGE EXTENSION AGREEMENT .
THIS AGREEMENT made and entered into this 14th day of June,
1987, by and between CECIL W. TALBOT and MARGARET C. TALBOT, his
wife, hereinafter referred to as Mortgagor, and FLORIDA NATIONAL
BANK, hereinafter referred to as Bank.
WITNESSETH, Bank is the owner and holder of a Promissory
Note from Mortgagor to Rank datPCl ,1une 14, I984 in the original
principal amount of OhE HUNDRED NINETY THOUSAND DOLLARS
($190,000.00), which is secured by a Mortgage upon the property
hereinafter des.^.ribed which t9o~tQ~oe is recorded in O.R. Book
434, Page 2S99 of ~the Public Records of St. Lucie County,
Florida; and
WHEREAS, said Mortgage is a valid first mortgage lien
upon all of that certain lot, parcel or section of land, lying in
St. Lucie County, Florida, described as follows:
The SW 1/4 of the NW 1/4 of Section 8, Township
36 South, Range 39 East; excepting from the
above the following tract, to-wit: Beginning at
the Southwest corner of the N~J 1/4 of the NW
1/4, run thence South 90 feet, thence East 660
feet, thence North 90 feet, thence West 660 feet
to the point of beginning; said land lying and
being in St. Lucie County, Florida.
WHEREAS, Bank, upon the request of Mortgagor, has agreed to
an extension of the Mortgage.
NOW, THEREFORE, for and in consideration of the agreement of
Bank to and extend the terms of the aforesaid Promissory Note,
and in further consideration of the sum of Ten Dollars ($10.00) ~
and other valuable considerations to each of the undersigned paid ~
;
by the other, receipt and sufficiency whereof is hereby
acknowledged, do hereby covenant and agree as follows:
FIRST: That the above described Mortgage shall continue to
be a valid First Mortgage ~lien upon the property herein
BooK54~ F.,~F 994
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