HomeMy WebLinkAbout0948 RiYe~si~e hationai Bank of Flotid~ ~
~ 221 i tTkeectrobee Raad - _ ? ~ j; . « . ~ y
Fott Pw~ce, fL 33450 • ~ 21~~ a
85 ~
MARTOA~E MODIFICATIbN At3REEMENT ~
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This preement made this lbth d~11 af- .1u]y . A. Q.. 1~.~~~
by a~d between ~;IDE NATIANAL BANK OF FLORIDA, Ft. Pieree F~~~
e.~N.~awcrr.aaaa~•
. a bsr~king ~ssociation, Pany of th~ First Prt, ~nd JOHN B. CORMIER
~ ~ Part.'L_af tht S~oond Psrt.
w~rn~ss~rn:
WNEREAS, the party ot the fir:t part i: tha owner and hotdK of th~t oendn mortpp~ from tM psn_y_„ of the acor~d psn ~
iyt~ May 15, 1987 , and recorded in Offidal R~rd Book.l.~., Ppe~.~$,~, of N~e Pubiic iiaeo~ of
St. Lucie County, Florids,
ANO WHEREAS, the ps?ty of Nu fint psrt is now the owne~ and holder ot that aruin ~romfssay not~ ior which said mort-
Qage was given as security, ssid nots beinp ln tt?e ori~in~l principal smou~t of ONE HUNDRED THOUSAND AAj.,D N9/ 100
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AND WHEREAS. the prties hersto havs mutuatly preed to modify th~ terms of said oote and mortg~pe,
NOW, THEREFO~iE, in consFderation ot tlw mutua! apresrn~nt: u! ths putiss heretq, it i: aqreed a foliows:
!1) Upon the execution of tfiis ayreement. ttn totsl outstandinp unpsid prirx:ipsl v~ ssid note snd mortoa~e ia ti»
smount of ONE HUNDRED THOUSAND DoLL.Atts & x0,(~ nn
Th~ pt~rties tNnto +~cknow4edpt ihat upon exaaudon ot thit pnsmertt th~ ints~~st on said obltpation sh~ll haw
been p~id throuph _ JuiY 15th, 1987 ,
(2) Said note and mwt~ege is hereby smendsd and modified to be payabie as totlorvs:
~ 35 monthly installment paymente including Principal ~ Interest beginning
June 15, 1987 in the amount of ~1,150.00 with one final payment due ~
May 15, 1990 in the amount of ;89,763.38 plus accrued interest.
(3) From ~nd :fter J~1y l~th. I987 , intenst rate on said not~ and mort~pe shatl be
' Ten . 90 peraent 1~.~%) pa a~rwm, intsrtst to be oomputad on tM
~ unRaid principal tfalancs.
l4) This moditication is n?sde o~ d~a exprass pr~ement snd undsr:Undin~ that ~tl ottar prarisiom of sd~ o~inal rwa
snd mortq~pe shafl romain in full fwce ~nd ~ffect ss~n and ~xcopt ~s modifid by this ~grsem~nt. ~nd in tht w~t of
default ssme shelf at the eiection of t~e mottypM oparab to mstun tM tull indebtedrkss to 1rt~ciiiU oolbctlon .
~nd taeclowre.
pyEp ~ooK 56(l ~~E 947
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s~Ta~i c~u~as M osas~-osa ,
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