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'fFis ins±rument prepa~ed by: 1021A S 9 ~ ~ ;
Riverside Nat+onal Bank of florida ~
2'211 Okeechobee Road Ff ~ ~'.n • - ~~'cc.~?s oIXON
FOft P18fC@, fl ~JO : 'r:`e $ -----•~--SR i•':ac Co~mty !
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MORTGAGE MODIFICATION AGREEMEN7 ;;~?,uc s~g~ cr~~J- - ~
Deputy Cierk ~
1". ts i S-.l o•---
. ~
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This agreement made this ~ day of January , A. D., 19 90 , ;
,
by and between ~IVERSIDE NATIONAL BANK OF FLORIDA, Fort Pierce ~
Florida,
8ant N~m~. C~ry ~nd SIaN
a banking association, Party of the First Part, and _ Alle~ro Homes, Inc. , A Florida Corporation
~
, Part ies of the Second Part. I
. ~
WITNESSETH: ~
WHEREAS, the party of the first part is the owner and holder of that oertain mortg~ge from the part~ of the second part ~
dated i"~Y 26, 1989 , and recorded in Official Reoord Book 640 , pa~ 19b4 af the PuMic Reoords of ~
AND Modification dated December 18, 1989, recorded
St. Lucfe County, ~lo~ida, fn O.R. Book 668, Page 2822, public reoords of St.
Lucie County, Florida.
AND WHEREAS, the party of the first part is now the owner snd holder of that oertain promissory note for which ssid mort-
I
gage was given as security, said note being in the original principal amount of FiftY-seven Thousand Six Hundred ~
and no/100----------------------------------------------------(~57,600 00)------------,
ANO V1lHEREAS, the parties hereto have mutualty agreed to modify the terms of said note and mortgaQe,
NOW, THEREFORE, in conside~ation of the mutual agreements of the parties hereto, it is agreed as follows:
~1) Upon the execution of this agreement, the total outstanding unpaid principa! under said note and mortyage is the !
i
amount of Fifty-two Thousand Five Hundred Eis~hty-four and 88/2Q0------------------
The parties hereto acknowiedge that upon execution of this agreement the interest on said obligation shall have
been pa+d through December 31, 1989 ,
(2) Said note and mortgage is hereby amended and modified to be payable as follows:
First payment to March 1, 1990 and maturity date to Febru3ry 1, 2020.
All other terms remain the same.
i3) From and after January I, 1990 , interest rate on said note and mortgpe shall be Ten and
one ha].f peroent 1~~•50 96) per annum, inte~est to be computed on the
unpaid principal balance. and to be adjusted in accordance with tnat certain note dated
May 26, 1989.
~4) This modification is macie on the express agreement snd understandiny that all other provisions of said oriyinal note
and mortgage shall remain in full force and effect save and except as modified by this agreement, and in the avent of
default same shsll at the election oi the mortg~gee operste to mature the full indebtedne3s to immediste collection
and toreclosure.
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