HomeMy WebLinkAbout0991 described and said Mortgage shall stand as security for the ~
payment o~ the sums described hereinafter and in said Mortgage; ~
and
SECOND: The current principal balance as of June 14, 19$7,
is $171,004.00.
THIRD: The Promissory Note dated June 14, 1984 shall be
renewed and extended so to provide a maturity date of June 14, ~
1990. There shalZ be due and payable two annual principal
payments of $9,500.00 upon the 14th day of June, 1988 and 1989,
together with a final principal payment of $1S2,000.00 due upon
the 14th day of June, 1990. To each payment of principal shall
be added a11 accrued, unpaid interest. Interest will be paid
quarterly.
FOURTN: The Mortgage recorded in Official Record Book 434,
Page 2599 of the Public Records of St. Lucie County, Florida, is
hereby further amended to provide as follows:
Any transfer, conveyance or alienation of the premises ~
herein described by Mortgagors, except by operation of
law, shall, at the option of the Mortgagee or its ~
assigns, constituCe a default hereof, unless prior to ,
such conveyance, transfer or alienation, including by
any Agreement or Articles of Deed, Mortgagee shall
approve in writing, of such transfer, conveyance or
assignment and assumption of this Mortgage by the
Grantee thereof; reserving unto Mortgagee the right to
charge a reasonable sum for an assumption and transfer
.fee and further providing that Mortgagee and/or its
assigns reserves the right to negotiate or alter the
rate of interest, period of payment and other terms of
the indebtedness secured her~by upon any such transfer,
conveyance or assumption.
FIFTN: All of-the terms and conditions contained in said
Promissory Note and Mortgage are hereby incorporated herein by
. reference and made a part of this Agreement and shall remain in
full force and effect, said Promissory Note and Mortgage being ~
modified only as expressly provided herein. .
SIXTH: This Agreement shall be binding upon and shall inure
to the benefit of the heirs, executors, personal representatives,
successors and assigns of the parties hereto. ;
B~oK 547 PA~~ 991
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