HomeMy WebLinkAbout0246 10 217 3 9 ~ ~s~*,~f.~< -~~~n~d er.
k~~e s'e ~ank of Florida
2111 Okeechobee Road
faI ~'ieicp, FL 33450
MORTGAGE MOOIFICATION AGREEMENT . ,
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Total; ~l~„o„„ ~Du~j' Clerk
Th~s ag~eement made ihis _ 16th day of January , q, p,, ~g 90
by and between RIVERSIDE NATIONAL BANK OF FLORIDA Fort Pierce Florida,
Ba~kNa~*,e C~~ra~~,!S[a~e
a bank~ng assoc~ation, Party oi the First Part, and pATRICIA I. HERRON f/k/a PATRICIA I. PADRIGK and
RUSSELL L. HERRON, her husband
_ , Part ies of the Second Part.
WITNESSETH:
~r?iEHCi~S, tne party ot the first part ~s the owner and hofder of that certain mortgage from the part iesof the second part
clated October 3, 1988 , as~d recorded in Official Record Book 607 Pa~ 200 of the Public Reoords of
'i St. Lucie County, Florida,
~ AND WHEREAS, the pariy of the first part is now the owner and holder of that certain promissory note for which said mort•
I~ FORTY FIVE THOUSAND AND NO/100****
i gage was given as security, said note being in the original principal amount of
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` ********X~:************~*************~~45~000.00)~******************~******************,
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j ~NO WF;EREF.S, the parties hereto have mutually agreed to modify the terms of said note and mortgage,
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~ NOW, TFaEREFORE, ~n consideration of the mutual agreements of the parties hereto, it is agreed as follows:
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k (1) Upon the execution of this agreement, the total outstanding unpaid principal under said note and martgage is ttie
~ FORTY FIVE THOUSAND AND NO/100*************************($45,000.00)~*
~ amount of .
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3
~ The parties hereto acknowledge that upon execution of this agreement the interest on said obligation shall have
y been pa~d through January 16, 1990
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; (2) Sa~d nete and mortgage is hereby amended and modified to be payable as follows:
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F Payable in monthly principal and interest payments of $694.20, beginning on
E February 15, 1990 and on the lSth of each month thereafter until paid in
° full.
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~ i31 From a~~d after January 17, 1990 , interest rate on said note and mortgage shall be twelve
n.
12.00
_ percent 1 96) per an~um, interest to be computed on the
unpa~d principa? balance.
{4? This modification ~s rr~ade on the express agreement and understanding that all other provisions of said original note
and mortgage shall remain ~n lull force ar~d ef(ect save and except as moditied by this agreement, and in the event of
default sarne shall at the election of the mortgagee operate to mature the fuft indebtedness to immediate coliection
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~ and fOreClosure.
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(OVER)
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