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HomeMy WebLinkAbout1401 ~ ~ 1. Mortgagor covenants that Mortgagor has not served or ~ filed for record any notice limiting the maaimum principal amount that may be secured under the Mortgage purs~iant to Section 697.04 (1) (b), ~rida Statutes (1988). 2. The unpaid principal balance of the Note is FOUR NUNDRED THIRTEEN THOUSAND FIVE NUNDRED FOURTEEN AND 20/100 DOLLARS (~413,514.20) free of any and all defenses, set-offs or counterclaims. 3. Mortgagee has advanced to Mortgagor the additional amount of FORTY THOUSAND AND NO/100 DOLLARS ($40,Q00.00), receipt of which is hereby acknowledged by Mortgagor, under that certain promissory note in such original principal amount, dated of like date herewith, executed by Mortgagor in favor of ' " " wh' h rm ~ Mortgagee (the Future Advance Promissory Note, ic te , includes any modifications, renewals, exensions or alterations ~ ~ thereof), which amount shall be added to the present unpaid ; i principal balance under the Note to increase the total principal indebtedness under the Note and the Future Advance ~ I Promissory Note to FOUR HUNDRED FIFTY THREE THOUSAND FIVE ~ ~ HUNDRED FOURTEEN AND 20/100 DOLLARS (~453,514.20), all of which ; I I I shall be secured by the Mortgage and shall be repaid by , i ; Mortgagor to Mortgagee with the interest, at the times, and in th~ manner and under the terms and conditions set forth in the i ` Note, the Future Advance Promissory Note and the Mortgage. In any event, the balance of all principal, if any, remaining ~ : ~ unpaid, together with accrued interest and any other payments p ~ due under the Note, the Mortgage and this Agreement, shall be ~ due and payable on January 1, 2001. ~ 4. Mortgagor and Mortgagee agree that the Mortgage is ~ F ~ hereby modified to describe the Consolidation Note as the ~ ~ ~ obligation secured thereby. 5. Notwithstanding anything to the contrary herein or in the Consolidation Note or in the Mortgage, the lien and operation of the Mortgaqe shall continue in full force and f effect e~cept as modified by this Agreement. ~ -2- r ~ E ~ BooM675 ~,~~~1401 - - ~ ~ .,,_k..