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' ST. LUCIB COUN'I'Y DR # 3374 THIS INSTRUMENT PREPAREO dY~
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GF COMMUNITY FEDERAL SAVINGS
~98~20 r:; r?L::n a~?cH, F~oRi~a
l~IODIFICATION AND ASSUMPTION AGREEMENT
t"3EREAS COMMUNITY FEDERAL SAVINGS AND LQAN ASSOCIATION OF RIVIERA
BEACH (hereinafter caZled Aasociation) lOarfed fio STER R. xARKER and MARYANN
C. BARKERLhis wi~e heYeinafter called
Borrowers, the sum of THIRTY THOUSAND EIGHT HUNDRED AND NO/100•-------------
DOLLARS 3~,8QO.Q0 evidenced ~y no~e and
secured ~y mort:3a?e dated March 4, 1969 , and recorded in
~f~f cial Recard Boo'c 17b , Pa~e 173 , Puhlic Records o~
~~~+Fy~ei~ County, F2or:ida, and T~IHEREAS, said Borrowers have sold said
pro?er~y to BILL V. NEFF and BARBARA T. NEFF, his wife .
~Ereinafter ca?leci Purchasers, and said Purchasers desiYe to assume
aY,d a~ree to nay said indebtedness and per°orm all che otligations -i
under said mor~;aoe and note and sai_~ Associ~~ion is willin~ to con-
sent to said transfer oi title in coj~sidera~ion oF this assumpcion of
sa~d ir,de~tedness and ~he changes ef_`ected here~y;
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THEREFORE, in consicleration of the mutual covenants and agreemencs
herEin c~n~ained, IT IS HEREBY AGREED as sol.lows:
L. The Associai.i.on doES her~hy consen~ *_o ~h~ sale and conveyance of
sa~d premises ry the aforesaid BorroT~era to said Purchasexs.
2. The Purchasers do ?lerety assume an~ a~ree to pay said mort~a~e
i_ndebtedness evic~er.ced ~y said note and mortqage and to ver_~orm all
of thE o~li~at'ons ~rova.ded therein including ~he amendments contained
~iereir., i:~eing a--;reed and understood that as o~ this date said in-
debtedness is THIRTY TROUSAND TEIREB MJNDRED 1~TENTY FIVE AND 97/100-------------
- ------~OLLARS 30~ 25.97 ) , ~that ~he interest rate is
here~y amended so that it s~all be gt~t~r percent (~_96) ~er
annum effective on September 1, 1970 , and 1096 ~er annum when in
de-r'ault, su~jec~t to atl the other ;~rovisions of said note and mortgage.
~iereafter, enual moni:hly instatlmen~s sha~l be made reginnin; the
_ lOth day of Sept~ber , I`_' 70, in the sum of ~„~p RFn THTR7'Y_
SEV .N l~i/iQQ - - --=DOLLARS 237.7b )
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per month. A?1 ~ayments made upon sa d note as amended ?ierein shall
~ ~e ap~lied first to ~he payment of accrued znterest and secondly unon
~::he principa~ unt~_1 said indektedness ~_s ~aid in fuZ2.
i M
~ 0 3. That all t~erms, covenants and corc~itions ir. ~he orig?na? note and
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`m r o mort~a~e referrec~ to ~~°hich are no~ inconsistent here«i c:~ are here~y
x" expressly confirmec~, ra~i~iec~ and declared ~o be in full force and
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g effect. That the provisions of this Agreement sha11 be binding unon
i~~~ m all the parties hereto, their heirs, personal repreaentatives, suc-
; ~ ° ~ cessors and assigns.
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?'ITNESS our hanc~s an~ seals this ~day o~ , A.D. 1~?~.
v
Si;ned, sea?ed and de?ivered -
F in tt~e presence of : Pi1RCHI~SER
; .
~ ~ :
J ? . - .
~ Y ~!J . ~~1.l~.t,~t~yQ~._ . (J r ~..v~ ( S EA L )
' ~ /~[J• ~ Bil V. Z, ff
j ~ f~ ~ ,
(SEAL)
' v~ N Bar ara T. Neff
STATE OF )
Go~ o ~,J s$ ~oox 187 ~~~E 3
Before me, the urciersi:rne~, nersonally appearec~ BILL V. NEFF AN~SARBARA
T• NEPF~ his vif~ to me known to ~e fihe individual (s)
desc~itee~ in and who e~~ecuted rhe £ore~oing Modification and Asaum~tion
Agrpement, and theY ac~:nowledqed refore me that they executed the
same for the purnose ~herein expressed.