HomeMy WebLinkAbout2165aURF. ~f. F'6i~~~
AG R 6 E M E NT
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'T'HIS AGREEMENT, Made this /,,~~aay of December, 1962,
between FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF INDIAN
R1VER COUNTY, a corporation under the laws of the United Stares, party of
the first part, and JOHN M, McCARTY and LOUISE F. McCARTY, his wife,
parties of the second part, W ITNESSETH: .
WHEREAS, the parties of the second part executed a mortgage
to the party of the first part on property described in said mortgage, which
mortgage was dated November 19, 1954, and recorded November 2b, 1954,
under Clerk's File No. 373$6, public records of 5t. Lucie County, Florida,
and which said mortgage secured the original amount of $50, 000.00; which
said mortgage provides monthly payments of $SOO.OU and interest at the
rate of five ~5) per cent per annum, and,
WHEREAS, the parties of the second part desire to obtain an
additional loan in the form of a future advance under the said mortgage in
the amount of $20, 000.00, and,
'h'I-IE RE AS, there now remains unpaid on said mortgage dated
November 19, 1954, a balance of $16, 864.21, as of December 1, 1962.
NO1~', THEItEt~OIIE, in consideration of the premises a-~d of the
party of the first part granting the future advance loan in the amount of
$20, U00.OU, the parties of the second part covenant and agree to pay interest
on the said mortgage dated November 19, 1954 and on the future advance note
in the amount of $20, 000.00, dated December 11, 1962, at the rate of 5. 4 per
cent der annum, commencing on December 1, 1962 as to the origi-~al mort-
gage dated November 19, 1954, and commencing on December 11, 1962 as to
the future advance noter
The parties- hereto further covenant and agree that all terms
and conditions of said mortgage and notes as mentioned herein shall remain
in full force and effect and that nothing herein contained shall in•anywise
iiupair, alter or diminish the terms or conditions, lien or encumb*_-ances
of the said mortgage and note other than as expressly stated in this agree-
ment. Htath, Smich G Herting, Attomayt At Law, Vero Besch, Florida