HomeMy WebLinkAbout2905 ~~~8~~ ~
ASSUMPTION AGREEMENT
' loan No.. _ 18 ~ 049
THIS AGREEMENT, made by - E~R, INC.L a Florida Corporation
of St. Lucie County, Florida, first parties, and FIRST FEDERAI
SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE, a co~poration with main office in Fort Pierce, Florida,
second pa~ty, and - Fred F. Adams and~Q2Tis D,~~amA~ his irife
Third Parties.
WITNESSETH: That whereas, on ~~h 6-_-_- , 19 72 . Third Parties be-
ing indebted b Second Party in the sum of ~ 24.74Q`00 , did make, execute a~d deliver
unto Semnd Party a certain promissory note and Mortgage Deed seturing the same, said mortgage e~cumber-
ing property situate in St I~ie ~ounty, Florida,
described as follows:
Lot 18 and the West ~ of Lot 17, Block 2, ROY G. HILd.IARD'S SUBDIVISIQ[d,
as per plat thereof on file in Plat Book 4, page 17, Public Records of
St. Lucie County, Florida
which mortgage is of record in O• R• g~k 200 page ~9 af the pubiic
reeo~ds of St. Lucie County, Florida; and
WHEREAS, there is now unpaid on said promissory note , the principal sum of ~24~915.43
together with interest iutet as scheuled in said mortgage contracts ~ , at the r~±e of
7• 5 % per annum, and
WHEREAS, First Parties have purchased said property from Third Parties; subject to the lien of the afore-
said mortgage, and, as a part of the consideration for said property, the First Parties have assumed and agreed to
pay the indebtedness secured by the aforesaid mortgage and to perform and comply with all covenants, obliga-
tions and agreements by the mortgagors to be kept and perfo~med under said mortgage; and Third Parties, iden-
tified as original bororowers herein, have requested Second Party to consent to such transfer of said property
; and relieve Third Parties of responsibiliry for any deficiency decree in the event it becomes necessary to fore-
~ close said mortgage; . . • _
NOW, THEREFORE, in consideration of the sum of 525.00 in hand paid to Second Parfy, the receipt of• .
~ which is hereby acknowledged, and, in further eonsideration of the agreement of Second Party iti
~oonsent to .
~ the aforesaid hansfer, said eonsent being evidenced hereby, first Parties do hereby assume pcrsonal lisbility
for and agree to pay the indebtedness secured by the aforesaid mortgage at the times and in the ma~ner specified
~ in fhe aforesaid mortgage and in the promissory note therein described, and do further agree , to perforrr?, _
comply with and abide by each and every stipulation, agreement, cove~ant and condition bf . said. note atid
mortgage. ~ ~ ~ ~ • •
Seeond Party hereby mvenants and agrees that it will not seek a deficiency decree againsi:the •Third~
against ~he Third Pariies in the event it becomes necessary to enforce the mortgage secwity, nor entet' eny suit
on tfie promissory note against the personal responsibility of Third Parties.
IN WITNESS WHHtEOF, 7~e paNies have hereunto executed this Agreement o~ 24th day of
July , ~q ,
EDMAR, INC.
~ Signed, sealed and delivered BY {yrr V 1 oc. c(,~~ ~5~~~
~ ' the resence of: • Purchaser - First Party Edmund M. Radke, its Pres.
~ / ~ ATTFS.ST • ~ ~ 7/r _ ~~a.d~ ~ ~ (SEAI)
~ r • . Purchaser - First Party Doris M. Radke, its Sec'y.
to st Parties - Porcha s ~
~ . ' ` 1 (SEAL) 1
~
~ ~ 1 Borrower - i d Party Rred F. Adams f
. • • ~ i
- -
~ . • ~ ~i (SEAI) :
~ s to ird Parties - Borr - Borrower - Third Party Dozris D. Adams i
i
~ r,; ~ . ~ ~ FIRST FEDERAL SAVINGS AND LOAN ~
AS,SOCIATlON PI ~
~ ~ . ~ „ f ~
- b ~
Y
~•1tti ! $~I - ViccPresident
' , ~ ~1~~~~ ,~4!,t ~~,'.Y~~ t
~
J
~,'-s t"r~ _
- ~-'r~r'~~-""'~c.~*-~T..~-'~ ~~p ~ ~ .