BK 2804         PG 405-407 (3)	DOC# 700151681
This Document eRecorded:	8/11/2025         12:42:11 PM
Fee: $26.00	Excise Tax: $0.00
Dare County, North Carolina	Transfer Tax: $0.00
Cheryl L. House, REGISTER OF DEEDS

 

 

STATE OF NORTH CAROLINA COUNTY OF DARE

Drawn by and return to: David R. Dixon; Dixon & Dixon Law Offices, PLLC

 

 

MODIFICATION AGREEMENT

THIS MODIFICATION AGREEMENT is made as of this  31 day of   July  , 2025 by and between Patricia Midgett (hereinafter “Beneficiary”), and KS OBX LLC (the “Borrower”), and DAVID R. DIXON (the “Trustee”).

 

 

W I T N E S S E T H :

 

 

WHEREAS, the Borrower has made and delivered its promissory note dated May 4, 2023, evidencing an original indebtedness of $l03,000.00 (the “Note”) and the Note is secured by a deed of trust of even date and recorded in Book 2678 at Page 934, Dare County Public Registry (“Deed of Trust”).

 

The Note and Deed of Trust are hereinafter collectively referred to as the “Contract” and the Contract is hereby incorporated herein as a part of this Modification Agreement.

WHEREAS, the Borrower desires to modify the provisions of the Contract in the manner hereinafter set out, and the Beneficiary (as holder and owner of the Note and the Secured Party under the Deed of Trust) consents to the same, it being specifically understood that, except as herein modified, the terms and provisions of the Contract, and the individual instruments thereof, shall remain unchanged and continue in full force as therein written;

 

NOW, THEREFORE, the Beneficiary in consideration of the premises and the sum of Fifty Three Thousand Dollars, paid by the Borrower to the Beneficiary, receipt of which is hereby acknowledged by each, does hereby agree that the Contract shall be, and the same hereby is, amended to provide as follows:

 

 

 

submitted electronically by “Dixon & Dixon Law Offices”

in compliance with North Carolina statutes governing recordable documents

and the terms of the submitter agreement with the Dare county Register of Deeds.

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1.The maturity date of the Note and the maturity date of the Deed of Trust is changed to July 1, 2027. 

2.The outstanding principal balance of the Note and the Deed of Trust is changed to $50,000.00. 

IT IS MUTUALLY AGREED between and among the parties hereto that nothing herein contained shall in any way impair the security now held for the indebtedness evidenced by the Contract, nor waive, annul, vary or affect any provision, condition, covenant or agreement contained in the Contract, except as herein amended, nor affect or impair any rights, powers or remedies under the Contract. Except as herein and hereby expressly modified, said Contract contains the entire agreement of the parties and the undersigned do hereby ratify and confirm the terms of said Contract, all of which shall remain in full force and effect, as modified herein.

FURTHERMORE, Beneficiary does hereby reserve all rights and remedies it may have against all parties secondarily liable for repayment of the indebtedness evidenced by the Note. Borrower hereby expressly waives, to the full extent it may lawfully do so, any rights which it may now or at any time hereafter have by virtue of North Carolina General Statutes Sections 26-7 and 45-45.1.

IN WITNESS WHEREOF, this Modification Agreement is executed by the parties hereto on the day and year first above written.

 

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