HomeMy WebLinkAbout0942 . w ' Thia lnatrumenk Pxepared By: 10.~
~
85~168 Felicia 5. Hurtado, . '
~ ' ' ' , , Loan Docwaentation Specialist ~
~k~ Sautheast Bank,~N.A. ~2
One Southeast F~~nancial Center
MORTOAOE MODIFICATION AQREEMENT Miami, Flarida 33131
This ~vement msde thi: 15th ~yy of September , A. D., 1A $7 ,
by ~?d between SOUTHEASTai,kt N.A., Brickell Banking Center, M~anoi Flo~ids,
A~/ILIATt MAMt AND CITY
a banking association, Party of the First Part, and THE WJMI' PARTNERSHIP, a Florida Partnership
. Part 'L-of the Ssc~nd Psrt.
WITNESSETH: ~
WHEREAS, the psrty of the first p~rt i: the owner ~d holder of that oertain mortgaye f~om the WnX_ of the sooond p~rt
October 26, 1983 , end ~ecorded in Oi~icisl Reoord Book Ps~e
2~$~. of the Peiblic Reoords of
St _ Lucie County, Florids,
AND_WHEREAS, the p~rty of the fint psrt is now the owner ~d holder of that oertain promissor~ note for which said mort-
yage was give~ as security, said rtote being in the original prinapal amount of ,$ixtv Thousanc~, and No/100 Dollarg
~~60,000.00) . .
AND WHEREAS, the parties hereto hwe mutually sgreed to modify the termt of said note and mortgage,
N04V, THEREFORE, in consideration of the mutusi ag~e~ements of the parties hereto, it is agreed as follows:
(1) Upo~? the execution of this a~reement, the total outstanding unpaid principal under said note snd mortgage is the
~ amountof Fortv Five Thousand Nine Hundred and No/100 Dollars ($45,900.00) ,
Tha part+~ hereto acknowkdge that_ upon execution of this agreement the interest on said obligation shall have
~ been paid through Seutember 15, 1987
(2) Said note and mortgage is hereby amended and modified to be payable ss follows:
Accrued intereston outstanding principal paysble quarterly, beginning 12-15-87;
total outstanding principal balance of $45,900.00 plus accrued interest payable
at maturity, on 3-15-88.
t3) Frorn and after ~eptember 15, 1987 ,~nterest rate on said note and mongage shall be ~nine and
_~hret quarters percent (~7~%) per annum, interest to be computed on the
~ . -
• unp~id principal balanot.
This modifitatian is msde on the expreas agreement and understanding that all other qrQvisions .of said oriQinsl note
snd mort~sqe shall rerruin in full foroe and effect save and exoept as modified by this syreement, and in the event of
.
default ssme shall st tfie etection of the mortgsgee operste W mtture tl~i`~ul~~ (~edn~e`'~ss~ tolmmediate collection
snd foreclosure. ~ ~
***An 8xtension Agreement was recorded on 11-26-84 in O.R. Book 449, Page 12f=~ a Mortgage
Modification Agreement Was recorded on 10-25-85 in O.R. Book 480. Page 1885,~~~ Mortgage
Modification Agreement was recorded on 10-17-86 in O.R. Book 517, Page 2474, and~.a!:Mortgage
Modification Agreement was recorded on 4-20-87 in O.R. Book 539, Page 280, all recorded with
the Public Records of St. Lucie~~p¢~ty; 1~6~ IFloxida. ~
Foao-?~Taaai ~iins~ at~ t - , ~~.1s~, 4 ~ - , 0 R
600K ~VtJ P~