HomeMy WebLinkAbout0920 1. Mor~gagor~ represent and warrant that they a~e
the owners of the real propert.y encumbered by the aforesaid
first mortgage (except for ~he portion thereof released Trom
the lien and operation of said mortgage as here~ofore stated)
an:~ that there are no liens or encumbrances against said real
property other than the atoresaid martgage and real estate
taxes accruing subsequent to December 31, 1981.
2. No portion of the principal balance or accrued interest
has been paid on the aforementioned ~ne Hundred Thousand
($I00,000.00)_Dollar promissury note. -
~ 3. That the due date of th~ first installment under the
aforementioned One Hundred Thousand ($100,000.00) Dollar ~
pro~issory note is hereby extended until October 11, 1982.
In addition, Mortgagees agree ta pay interest on such deferred
installment in the amount of Eighteen (18$).Percent per annum
so that on October 11,~1982 the total payment due Mortgagee '
will be Twenty-Seve~ Thousand Two Hundred ($27,200:OQ) Dollars
plus additional ~nterest of One Thousand Four Hundred Eighty- ~
Eight ($1;488.92) Dollars and 92/100.
. 4. This ex•.`.ension of the due date of the first install-
ment due under the above described promissory note shall ~ ~
not extend the time of maturity of.any subsequent installment. ~
_ . ~
~ 5. As her~by modified, all of the terms and conditions ~
of the aforementioned One Hundred Thousand (5100,000.00) Dollar ~
promissory note and.the aforen~entioned mortgage are hereby
ratified, confirmed and approved.
6. Nothing cantained hereir. shall be construed to
impair the security of Mor~gagees under the aforementioned
mortgage. - ~
7. This A3reement shall be binidng upon the parties
~ hereto and their personal repre~entatives, 'r.eirs, bene.ficiaries
.
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and assigns. - ~
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- ~ _ efl~~ Pa~~ 919
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