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THIS IS A BALLOON MORTGAGE SECURING A VAR1118LE ADlUSTABLE RATE OBLIGATION.
ASSUdlING THAT THE INITIAL RATE OF INTEREST WERE TO APPLY FOR THE ENTIRE TERM OF
THE MORTG4GE, THE FINAL PRINCIPAL PAYMENT OR TNE PRINCIPAL BALANCE DUE UPON
MATURITY WOULD BE APPROXIMATELY S67,S78.59, TOGETHER WITH ACCRUED INTEREST, IF
ANY, AND ALL ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF THIS
MORTGAGE. THE ACTUAL BALANCE DUE UPON MATURITY MAY VARY DEPENDING UPON
CHANGES IN THE RATE OF INTEREST.
MO~RTGAGE 11~ODIFICATION
AND
EXTENSION AGREEMENT
THIS AGRB~I~1'P made and entered into this 29th day of
December, 1989, by and between JA~S C. CRAFTFORD and JOANNB L.
CRAi~IFORD, his wife, hereinafter referred to as "Mortgogor", and
FLORiDA NATIONAL BANR, a National Banking Association, its
successors and/or assigns, hereinafter referred to as ~Bank".
~+TITNBSSBTS, Bank is the owner and holder of a Promissory Note
from Mortgagor to Bank dated December 29, 1986 in the original
principal amount of ONE HUNDRED THOUSAND and NO/CENTS ($100,000.00)
DOLLARS, which is secured by a Mortgage upon the property ~
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hereinbelow described which Mortgage is recorded in O.R. Book 5~25, i
Page 2379 of the Public Records of St. Lucie County, Florida; and
WHBRSAS, said Mortgage is a valid first lien upon all of that '
!
certain lot, parcel or section of land, lying in St. Lucie County, ~
i
Florida described as follows: ~
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i Part of Lots 8 and 9, INDUSTRIAL SUBDIVISION, according to the Plat
the~eof recorded in Plat Book 9, Page S, Public Records of St. Lucie County,
; Florida, more particularly described as follows:
~
~ From a concrete monument on the Northwest corner of Lot 8 of aforesaid
E subdivision, said point being on the Easterly right of way line of F.E.C.
~ Railway Tract No. 8, 150 feet to a concrete monument and the point of
6eginning of the lands hereinafter described; From soid point of 6eginning
j continue South 1 degree 2~' East along the Easterly right of way line of
E aforesaid Tract No. 8, 80 feet to a concrete monument 6eing 20.2 feet
~ southerly of the Northwest corner of Lot 9 of said su6division, thence south
~ 88 degrees 58' East 498.69 feet to a concrete monument on the Westerly right
~ of way line of Oleander Avenue being 12.05 feet Southerly of the Northeast
~ corne~ of said Lot 9; thence North 1 degree 41' West along the Westerly right
~ of way line of Oleander Avenue 80 feet to a concrete monument; thence North
, 88 degrees 58' West 498.25 feet to the Point of Beginning.
t
' WHERB.AS, Bank, upon the request of the Mortqagor, has agreed
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~ to a modification and extension of the terms and maturity of the
~ aforesaid Promissory Note and Mortgage.
NOW, TI~REFORE, for and in consideration of the agreement of
Bank to modify and extend the terms of the aforesaid Promissory
~ Note, and in further consideration of the sum of Ten and No/Cents
r
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~ ($10.00) Dollars and other good and valuable considerations to each
~
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