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MORTGAGE MODIFICATION AGREEMENT ~T~
~ " .~._.v.. DOUCI.A3 DIXON
' i 1'~ r 5 St C.ucic Co~~nty
l~uc T~~r 3 C1ark of Circuit Court
~„c "~'1.Y S $y _
Dap~qr Clark
Total i ~
Th~s agreement made this 24th day of January , A. D., 19 90 ~
by and between Riverside National Bank of Florida Ft. Pierce Florida,
Ban? Nsme. C~Iw^d S~ata
a bank~ng associat~on, Party of the Fi~st Pa~t, and Daniel T. Lerro and Leanne M. Lerro, his wife
, Part ies of the Second Part.
WITPIESSETH:
WHEREAS, the party of the first part is the owner and holder of that certain mortgage from the part le~, of the second part
dated i~ovember 15, 1989 , and recorded in Official Reoord Book 665 , pa~ 1357 of the Public Reoords of
St. Lucie County, Florida,
AND WHEREAS, the party of the first part is now the owner and holder of that certain promissory note for which said mort-
gage was given as security, said note being in the original principal amount of Fif tv Thausand Five Hundred and
NO/100--------------------------------------------------------------------------- ,
ANO WHEREAS, the parties hereto have mutually agreed to modify the terms of said note and mortgage,
NOW, TNEREFOAE, in consideration of the mutual agreements of the parties hereto, it is agreed as follows:
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(1) Upon the execution of this a~reement, the total outstanding unpaid principal under said note and mortgage is the
I amountof Fifty Thousand Five Hundred and NO/100---------------------------
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A The parties hereto acknowledge that upo~ execution of this agreement the interest on said obligation sha~l have
been paid ihrough January 31 , 1990 .
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~ (21 Said note and mortgage is hereby amended and modified to be payable as follows:
~ First payment to March 1, 1990 and maturity date to February l, 2020
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~ Al1 other terms remain the same
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~ TO CORRECT PROPERT ADDRES~ T0:
~ 2954 BOXWOOD CIRCLE
~ PT. ST. LUCIE, FL 34953
~ (3) Fr~m and after Februarv 1, 1990 , interest rate on said note and mortgage shal! be Ei~ht and
~ Seven Eighths-------------------~rcent ( 8•875 96) per annum, interest to be computed on the
unpaid principal baiance. and to be adjusted wi[h that certain note and mortgage dated
November 15, 1989
(4} This modification is made on the express ac~eement and understanding that all other provisions of said original note
: and mortgage shall remain in futl force and effect save and except as modified by this agreement, and in the event of
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~ default samP shall at the election of the mortgagee operate to mature the full indebtedness to immediate collect+on
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~ a~d foreclosure.
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v . ~o~ER,.. Sa~Kf75 ~,,~E 64~
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