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1021423
MORTGAGE MOUIFICATION AGREEMENT
THIS AGREEMENT, made this i7th ~y of January , 19 90 by and betw+een
Robert A. Jackson and Luanne Jackson _
hereinafcer called MORTGAGOR and FIRST NATIONAL BANK AND TRUST COMPANY OF THE
TREASURE COAST, Stuarc, Florida hereinafter called "MORTGAGEE".
RECITALS:
A. MORTGAGEE is the owner and holder of that certain mortgage (MORTGAGE) dated 9-20-89
made by the MORTGAGOR to MORTGAGEE recorded in O.R. Book 655 , pag~1963 , I'
Public Records of St. Lueie ; securing a debt evidenced by a promissory note (NOTE) !
dated September 20, 1989 , in the original amount of, ;53,000.00
which MORTGAGE encumbers property more particularly described in said MORTGAGE. '
B. MORTGAGOR, the owner in fee simple of all of the property subject to M~RTGAGE, has requested
hiORTGAGEE to modify NOTE and MORTGAGE and the parties have mutually agreed to modify the terms
thereof on the manner hereinafter appearing.
I~'O~/, THEREFORE, in consideration of the mutual covenants hereinafter set forth and in consideration
of the sum of TEN DOLLARS (;10.00), each to the other in hand paid, and other valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereto mutually covenant and agree as
follows:
1. The unpaid principal balance of NOTE is Fif ty Three Thousand Dollars and 00/ 100-----
---------------------------------------(~53,000.00)---------------------------------
and that interest has been paid to January 17 , 1990
2. The terms and provisions of the NOTE are amended and modified in accordance with the terms and
provisions of Exhibit "A" attached hereto and incorporated herein by reference, entitled
NOTE
3. The terms and provisions of the MORTGAGE are amended and modified in accordance with the terms
and provisions of Exhibit "B," attached hereto and incorporated herein by reference, entitled
~ MORTGAGE
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4. The MORTGAGOR hereby reaffirms all of its obligations set forth in NOTE and MORTGAGE and
agrees to perform each and all of the covenants, agreements and obligations in MORTGAGE and NOTE and
~ to be bound by each and all of the terms and provisions of NOTE and MORTGAGE as herein modified.
I
~ 5. That all of the property described in MORTGAGE, less any part thereof that may have heretofore been
~ released, shall in all respects be subject to the lien, charge and encumbrance of MORTGAGE and nothing
herein contained or done shall affect the lien, charge or encumbrance affected by MORTGAGE, or the priority
~ thereof over other liens, charges, encumbrances or conveyances.
6. Nothing herein invalidates or shall impair or release any covenants, conditions, agreement or stipu-
~ lation in NOTE and MORTGAGE and the same, except as herein modified, shall continue in full force and
~ effect and the undersigned further covenant and agree to perform and comply with and abide by each of the
~ covenants, agreements, conditions and stipulations of NOTE and MORTGAGE which are not in~onsistent
~ herewith.
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~ 7. In case any installment of interest or principal of NOTE be not promptly paid as they become due and
- payable according to the terms and tenor thereof, or if each and every of the stipulations, agreements, cov~
nants and conditions of NOTE and MORTGAGE, as herein modi~ed, and of these presents, any or either, are
not duly performed complied with, and abided by, then and in either of such events, the balance then unpaid
of the principal sum of NOTE as her~in modified, with accrued interest, and all other sums provided for in and
by NOTE and MORTGAGE, shall be immediately due and payable and suit may be brought on NOTE and/or
MORTGAGE may be foreclosed in the manner and as fully and completely and with the same effect as if the
said indebtedness of NOTE were originally stipulated to be paid on that date or had otherwise matured, any-
` thing in NOTE and MORTGAGE, or herein, to the contrary notwithstanding.
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