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ART ICIBS OF AiGIffiS~NT
THIS AGRBB6BNT entered into this ~d~ay of July, A.D., 1967
by and between BOB HARDMAN and FLOYD BURI~TT hereinafter referred to as
Haucdman and Burkett and in consideratioa of their mutual pxomises and
together with payment this date of the arrearage oping on tha?t cerLain
property ~hich is subject to this agre~ment a?nd previously sold to J. H.
Hardaan and pife subject to a mortgage payable ~o Floyd Burkett, the part s
bave this date covenanted and a?gxeed as fo~lows:
1. That the iamediate consideration for this agYeement is-the -
payment of so~e six months or less payments in arrears on the fixst
moYtqage on the property presently in the name of J. H. Hardma?n and being
subject to First mortgage of First Federal Savings & Loan Association of
Fort Pierce and a second mortgage payable to Floyd Burket a?ad subsequentl
assigned to the Barx Bstate throuyh its Trust ~ith Thomas Jaaes Barr,
TYUStee for Thoma?s J. Bar Txust, and subsequently reassigned or_to be
xeassigned to Floyd Burloet.
2. It is agxeed that the=e~:3.s owing to the Barr Bstate for the
- reassignment, the sum of $ 1,461.62 for the reassignaent of this mortgag
to Floyd Burket awd upon receipt thereof in the office of Attorney Charle
Wm. Stone, there ~hail be- given to Floyd Burket, for the said Ba~cr Bstate,
the said sum togetheY with the balance making a total of $2,000.00 paid ~
on the said date and thereby leavingmpa?id awd owing on ~avtd~s~ mortg
originally executed and delivered by J. H. Hazdman and wife to Floyd Burk
the sum of $1,000.00 ahich will be shown by the said second mortgage,
having the total unpaid balance reduced to $1,000.00 and which $1,000.00
shall be payable monthYy at $15.00 per month theseafter to Burket to gethe
with intezest at six pex cent per annum paid first froffi each aonthly
installment and pa,id i.n successive installments on the same day of each
aonth thereafter beginning oner month after the closing of this agYeeaent
and the COAS11IDdt~0A of this transaction.
~ 3. Burket hereby warrants that he has good right and authority
~ to make this agreement concerning the second aortgaye on the said pYOpert
~ and that he has arranged to have the moYtgage presently-in the possession
of Thomas James Barr Trustee, reassigned to hin awd that the payment
therefore does not exceed the su~ abovesaid payable to the office of Phili
Nourse for Thomas James Barr, Trustee, a?ad further Narrants that in the
event it shall appear necessaucy to the interests of Bob Ha?rdman to legally
proceed against J. H. Haxdman to obtain the fee simple title to the
propexty, the subject of this second mortgage, that Burk~et Nill cooperate
with, both nominally and officially without cost to Burket, aay proceeding
to foYeclose said nortgage or such other actioa as may appeaY necessary an
expedieat to place the fee_simple title in the name of Bob Hardaan, hovreve
it is intended that upon consuaaation of this agreement that theYe shall
have been a transfer of the title of J. H. Hardman to Bob Hardman, and thi
pa?ragraph shall becoae effective only in the event the same shall for some
just cause fail and it shall appear necessary to the i,aterest of and the
protection of the investment of Bob Hardman that the second mortgage be
foreclosed and thereby transferring the title as neaz as can possi.bly be
had, in the name of Bob Hardman.
4. Burket farther warrawts that upon consummation of this agree-
aent, and the paymeat of the curzent installmeats upon the above $1,000.00
balance at $15.00 per aonth, that he will hold Bob Hardman harmless from
any and all claias by awy persons contrazy to todays agxeeaent, to•.wit:
that upon pa+yaent of saae and pay~ents being kept current and all the
covenants coASisteat with the fore~oiny beiny aade and kept by the paztiss
that in no w~~e will the moxtqa9e be considered in default because of the
reduction of the a~ount presently being paid on ths sa?id second mortgage
o the aaount of $15.00 per aonth after the closing of this agreement
~ ~ consistent with the foreyoing.
A,~res~rwTUw 5. In the event it shall appear necessary, eocpedient awd
~ z s sovr+~ sro a~sr
FT.~~,~,,~,~uso oafortable to Bob HaYd~an !o hsve the original mortgage satisfied and a n
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