HomeMy WebLinkAbout0943 Itn~ ,~w{~uy~c~u p~vy+a~v.. .r~. . '
Aivarside National ~ank of flo~d~ . $5~f~16
2~11 Okeechobee Ro~d - ~
fat Pur+ce~ fL 33450
MORTOA(iE MODI~ICATI~N AOREEMENT
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This agreement made this Znd d~y of November , A~ D., 18
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~ by snd between RIVERSIDB NATIONAL BANK OF FLORIDA, Fort Pierce Florids,
6~nA t1~mRCar •ne Suq
a bsnking association, Pa?ty of ths First Psft, md ~GINALD W. SPQON$R AND GLORIA M. SPOONER,
. hie wife
, Psrt ies of the Second P~n.
WITNESSETH:
WHEREAS, the party of the first part is ths owner snd holcitr of that art~in mort~e from the parties af the Eecond psrt
dated April 22, 1987 , snd recorded in Officiel Reoord 8ook.~,_, Pa~e 2784 of the PuWic Reoords of
St. Lucie County. Fiorid~,
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AND WHEREAS, d~e psny of the first pan is now the owner snd holder of th~t oertain promissory nots for which said mo?t• -
gage was given ss security, said note being in the o?iginal prindpai amount of ~IRTY-FIVE THOUSAND AND NO/l0U
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AND WHEREAS, the•~arties hereto have mutually ~greed to maiify the terms of said note snd mortg~pe,
~ NOW, THEREFQRE, fn consideration of the mutual ~~eeme~ts of the psrtie: hereto, it is sgreed ss fottows:
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(1) Upon the execution of this sgreement, ths total out~tsnding unpsid principai undar :sid note~ ~nd mortQsye is the
amount of '~'t~i~N'i'Y O TEiO iS Ni1 T[d0 HUNDRED FORTY NINE AND 04/100______________ ,
The parties hereto acknowledge that upon execution oi tfiis ay~eement tha interest on s~id obligation shail have
been paid thr~ugh October 1, 1987 ,
; (2) Said note and mort~age is hereby amended snd modified to be payable as follows:
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~ To modify first payment due date from November 1, 1987 to l~ay 1, 1988.
To modify maturity date fram October l, 2017 to April 1, 2018.
13) From and after November 1, 1987 , interest ~ate on said note snd monga~e shall be ~elve and
No/100 peroe~t ( 12.00 per snnum, inte~est to be computed on tha
unpaisi principal balance. ~
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(4) This moditic~tion is made on the expre:s ayreement md understandiny that all other provisions of said ai~nsl note
and mortgaqe ~hsll remain in fuli foroe and effect save and except as modified by this spnsmtnt, and in the evsnt of
clefault same :hsll st the election of the nwrt~ optrate to m~ture the full indebudness to immedi~t~ eollection
and toreclosure.
! ~ ` ` f ~ ~OVER{
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P.,n~,~ ~ ~ ~ ~ R 563 ~A~E ~42
, BOOK
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