HomeMy WebLinkAbout0314 THIS IS ~ BALLOON MORTGAGE AND THE FINAL PAYMENT OR THE BALANCE DUE UPON ~0~~5'1~IS~ ~
"SATURITY IS ~26,724.23, TOGETHER WITH ACCRUED INTEREST, IF ANY, lp Credit file ~
AND ALL ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS
MORTGAGE . 1 p 2 e 4 2 5
MORTGAGE MODIFICATION AGREEMENT ~Fe°= l~'~'~~~~~,~vN
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This agreement made this 18th day of January , A. D., 19 90 ~
by a~d between Riverside National Bank of Florida Ft. Pierce
Florids,
B~nk NYM. Gty and $taif
a banking association, Party of the First Part, s~d Dous~las M. Hamilton and Bonnie H. Hamilton, his wife
, Psrt ies of the Second Part.
WITNESSETH:
WHEREAS, the party of the first part is the owner a~d holder of that certain mo?tqape from the part je.s of tht second part
dated AuQust 19, 1983 , a~d recorded in Official Reoord Book 402_, Paw 1220 of tha Public R~aords of
; St. Lucie County, Florida,
f AND WHEREAS, the party of the first psrt is now the owner ~nd holder of that aertain promissory nots for which said mort-
I Thirtv Thousand One Hundred Five
j gage was given as security, said note being in the originsl prindpal smount of _
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~ and S1/100------------------------------------------------------------------------
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E ANO WHEREAS, the parties hereto have mutuall fy tgsge,
~ y agreed to modi the terms of ssid note and mor
NOW~, THEREFOAE, in consideration of the mutual agreements of the parties hereto, it is agreed ss follows:
(1) Upon the execution of this agreement, the total outstanding unpaid principal under said note and mortyape is the
i amountof ~enty Seven Thousand Six Hundred Forty Four and 09/100--------------
~ The parties hereto acknowledge that upon execution of tt~is spreement the iRterest on ssid obligat+on sh~ll have
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been paid through January 18, 1990
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~ (2) Said note and mortgage is hereby amended and modified to be payable as follows:
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In 35 principal and interest payments of ~315.94 beginning on February I9, 1990,
~ and one final payment of ~26,724.23, principal and accrued interest due at maturity.
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~ (3) From and after January 19, 1990 , interest nte on said note and mortga~s sha~l be Eleven and
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` Seven Eighths------------------ ~~cent ( 11.875 y6~ per annum, interost to be computed on the
unpaid principal balar?ce.
14) This modification is made on the express ayr~ement snd understmdin9 thst all other provisions of said oripinsl nots .
and mortgage shall remain in full force and effact save s~d except as modified by this ayreement, and in the want of
; default same shali at the election of the mortgpee operats to m~ture tfie full indebtednsss to immediate colledion
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~ and foreclosure.
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goo~674 ~?~E 314
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