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SECOND MORTGAGE AND MORTGAGE NOTE .
MODIFICATION AGREEMENT !
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THIS I~GREEMENT made this day of January A.D. 1988, by ~
and between JUSTIN L. YOUNG (Mortgagor) and JAMES C. ROTH (Mortgagee). ~
BACKGROUND
On January 14, 1983, Mortgagor executed a Mortgage and Mort-
gage Note as security for an indebtedness to Mortgagee of $100,000.00. ~
The original Mortgagees were James C. Roth and Betty Roth, his wife. ,
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Betty Roth is now deceased having died on the 13 day of ~Pu~l~'
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A.D. 198 S James C. Roth is the surviving Mortgagee. The Mortgage TI
encwnbers property in the County of St. Lucie and State of Florida, a
legal description of which is contained in the Mortgage. Both the
Mortgage and Mortgage Note are incorporated herein by reference
- thereto. The Mortgage and Mortgage Note are recorded in the Official
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Record Book 392, Page 2035, et seq., Public Record of St. Lucie Coun-
y~;_ 5;7- L~97~ L~~~
ty, Florida. The ter f the Mortgage was three years until January
24, 1986. Mortgagor and Mortgagee entered into a Mortgage and Mort-
gage Note Modification Agreement dated May 17, 1985, wherein they ~
agreed to extend the term of the t~!nrtg3ge until July 24, '988, chang~ #
the interest rate to 12o per year effective January 24, ?986, and pro-
vi~e for monthly payments of interest only in the amount of $1,000.00
I per month, effective January 24, i986, the first payment having been
I due and payable on February 24, 1986. '
` Mortgagor and Mortgagee have now agreed to extend the term of
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ttie Mortgage and Mortgage Note until March 24, 1991, and change the
interest rate effective March 24, 1988, to 100.
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