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THlS /S A BALLOON MORTGAGE SECURlNG A VAR/ABL6 ADJUS7'AdLE RA7'E UBI.lG~17'ION.
.ASSUMING THAT THE JNITIAL RATE OF INTEREST WERE TO APPL FOR TfIE' ENTlR6 TERA! OF
THF. MORTGAGE, THE FINAL PRINCIPAL PAYAIENT OR TH6 PRINCIPf1L B.~1LA1V~E DUF. UPnN
3lATURITY WOULD BE APPROXIMATELY s53~877.9t1, TOGET/aIER WITH ACCRUED IlVTEREST. IF
ANY. AND ALL ADVANCEMENTS MADE BY THE MORTGAGEE UNDER THE TERMS OF TNIS
MORTGAGE. THE ACTUAL BALANCE DUE UPON AlATURlTY MAY VARY DEPENDING UPON
CHANGES IN THE RATE OF INTEREST.
MORTGAGE MODIFICATIQN
AND
EXTENSION AGREEMENT
TfiIS AGRBF.I~I~IT made and entered into this 18th day of
December, 1989, by and between I~VID L. FR~OMANG and DSBORAH S.
FROMANG, his wife, hereinafter referred to as ~~Morrgagor", and FLORIDA
NATIONAL BANK, a National Banking Association, its successors
and/or assigns, hereinafter referred to as ~'Bank".
i~TITNESSBTH, Bank is the owner and holder of a Promissory Note
from Mortgagor to Bank dated July 18, 1~83 in the original
principal amount of FOUR HUNDRED THODSAND and NO/CENTS
($400,000.00) DOLLARS, which is secured by a Mortgage upon the
property hereinbelow described which Mortqage is recorded in O.R.
i
Booic 406, gage I3a6 ot the Public Records of St. Lucie County,
Flerida; and
wAEREAS, said Mortgage is a valid first lien upon ali of that
certain lot, parcel or section of land, lying in St. Lucie County,
;
~ Florida described as follows:
' Units 6, Il, 12, LAWNWOOD PHYSIClAN~ CENTER, A CO/VDOMINIUM,
, according to the Decla~ation o Condominium reco~ded in O.R. Book 422
~ Page 2733, of the Public Records of St. Lucie County, Florida, and the ~
k undivided share or interest in the common elements and limited common ~
elements pertinent therelo.
~RFaAS, Bank, upon the request of the Mortgagor, has aqreed to a
~ modification and extension of the terms and maturity of the aforesaid
~ Promissory Note and Mortgage.
A
NOW, THEREFORE, for and in consideration of the agreeraent of Bank to
, modify and extend the terms of the aforesaid Promissory Note, and in
~
i further consideration of the sum of Ten and No/Cents ($10.00) Dollars
~
~
and other good and valuable considerations to each of the undersigned
paid by the other, receipt and sufficiency whereof is hereby
acknowiedged, do hereby convey and agree as follows:
FIRST: That the above described Mortgage shall continue to be a valid
first Mortgage lien upon the property herein described and said Mortgage
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