HomeMy WebLinkAbout0982 1024739 835-9 ~
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MO~i'I"~AGE MODiFICATION AGR~;~MENT , ,;y
I' Clerk ~t l;.c~, it Cotart
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SJ Depuqr Cl~rk
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This agreement made this lOth day of January , A. D., 19~0 ,
by and between Riverside National Bank of Florida Ft. Pierce Florids,
8ank NaT~. Gty ~nd St~b
a banking association, Party of the First Part, snd Joel L. Kinst and Ethel M. Kin~, his wife
. Part ies of the Seoond Psrt.
WITNESSETH:
WHEREAS, the party of the first part is the owner and holder of th~t oertain mortys~e from the psrt~ of the seoond psrt
dated October 24, 1989 , and recorcied in Officis! Reoord Book~, Pa~e 1861 of the Public Rtaords of
St. Lucie County, Florida,
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! AND WHEREAS, the party of the first part is now the owner snd holder of that aertain promissory note for which said mort-
gage was given as security. said note being in the originel principal sr»ount of Fif tv-EiQht Thousand Seven Hundred
Thirty-Ei~ht and NO/100-------------------------------------------------------,
AND WHEREAS, the parties hereto have mutually sgreed to modify the terms of ssid note and mortgspe,
i NOW, THEREFORE, in consideratio~ of the mutual agreements of the parties hereto, it is sq~eed as follows:
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~ (1) Upon the execution of this agreement, the total outstanding unpaid principsl under said note and mortgaye is the
amountot_ Fifty-EiQht Thousand Seven Hundred Thirty-Eight and NO/100-----------,
~ The parties hereto acknowledge that upon execution of this agreement the interest on :aid obligation sh~ll have
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been paid through __January 31, 1990 ,
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(2) Said note and mortgage is hereby amended and modified to be payable ss follows:
First payment to March 1, 1990 and maturity date to February 1, 2020
~ All other terms remain the same
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~ 13) From and after February 1. 1940 , interest ~ate on said ~ote u~d mortgsQs shall be EiQht and
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~ Seven Eis~hths--------------- 8.87
percent 1-~%1 per snnum, intere:t to be computsd on the
unpaid principal balance. and to be adjusted in accordance with that certain note dated
October 24, 1989
(4) This modification is made on the express a9reement snd understandir?Q that ell other provi:ions of taid oriyinil note
~ and mortgage shall remain in full force end effect save ~nd except as modified by tfii: a~reement, snd in the went of
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~ default same shall at the election of the mort~yee oper~te to maturo the full indebtednsss to immediate collectian
~ and forecloss~re.
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so,w„ P,,,, w~e-0,., IOVE~!' : • : .
~o~ s?~ ~~E sez
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