HomeMy WebLinkAbout0984 ~ 1020?~0
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MORTGAGE MODIFICATiON AGREEMENT ~ ~ '""-~---BR Lu<~.:
_i:_ 3~----~.Clerk , . ~
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C J llcpuc•, (:Ierk
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This agreement made this 9th dsy of ~anuary , q, p.~ ~g 90
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by and between Riverside National Bank of Florida Ft. Pierce Florida,
e.~ ?+.~n..cnr,~a su~.
a banking association, Party of the First Ps~t, and Janet C. Carlin, a married adult and Michael S. Carlin,
a married adult and Janet S. Ingersoll, a single adult
, Part.~es of the Second P~rt.
WITNESSETH:
WHEREAS, the party ot the first part is the owner and holdar of that oertain mort~aqe from the part~~ of the seco~d pa?t
dated October 16, 1989 ,~nd recwded i~ Official Reoord Book660 ~ p~ 678 of the Public R~e~rds of
St . Lucie County, Florids, •
~ AND WHEREAS, the .
party of the first part is now the ownar and holder of that cartain promissory noh for which said mort- ~
gage was given as security, said note being in the original principal smount of Sixty-Seven Thousand One Hundred
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Fiftv and NO/100--------------------------------------------------------------- ~
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AND WHEREAS, the parties hereto hsve mutually agreed to modify the terms of taid note and mortqsge,
I~ NOW, THEREFORE, in conside?ation of the mutual agreements of the puties hereto, it is agreed as follows:
~ ~ 11 Upon the execution of this agreement, the total outstanding unpaid principal under said note and mortysQe is the
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~ amountof Sixtv-Seven Thousand One Hundred Fifty and NO/100---------------------
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~ The parties hereto acknowledge thst upo~ execution of tt~is syreement the intarest on taid obli9ation shsll have
been paid through January 31, 1990 .
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~ (2) Said note and mortgage is hereby amended snd modified to be payable as 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 Februarv 1, 1990 , interest rate on taid note and mortgaye sh~ll be Eight and
~ Seven Eighths----------------- 8.875
percent ( 96) per ~nnum, interest to be computed on the
unpaid principal balance. and to be ad~usted with that certain note dated October 16, 1989
(4) This modification is made on the express ayreement snd understanding th~t a!1 other provision: of s~id ori~ind note
e and mortgage shall remain in full forca md effect save and except ~s modifitd by this aReement, ~nd in the event of
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~ default same shsll at the election of the mortgayee operate to msture the full indebtedness to immediate colltction
a~d foreclosure.
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~ 60GN U7~ PAGE 90~
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