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ASSUMPTION AGREEMENT 23~8~~ ~
18 459 ;
loan No.- ~ ~
ECMAR INC. a Rlorida Cor ration !
THIS AGREEMENT, made by - t---
of St. Lucie_______ County, Florida, first parties, and FIRST FEDERAL
SAVINGS AND IOAN ASSOCIATION OF FORT PIERCE, a corporation with main office in Fort Pierce, Florida,
second pa~ty, and Fred F._ Adams and DQrris D. Adamgi~YyifP
Third Parties. ~
WITNESSETH: That whereas, on J~e 13 _ ~q 72 , Third Parties be-
ing indebted b Second Party in the sum of $ 2Q~~•~__ , did make, execute and deliver
unto Second Party a certain promissory note and Mortgage Deed securing the same, said mortgage encumber-
ing property situate in St. I.ucie County, Florida,
described as follows:
Idortb 75 feet of the West 50 feet of Lot 16 and the ~orth 75 feet of Lots
17 and 18 , Block 1, ROY G.__LiILLIARDS SUBDIVISION, as per plat thezeof
on file in Plg Book 4, page 17, of the Public Records of St. Lucie County,
Florida
which mor~gage is of record in O. R. Book 20~ , page 1126 the public
reeo~ds of St . Lucie County, Florida; and
' WHEREAS, there is now unpaid on said promissory note , the principal sum of b 20~ 600.00
together with interest as scheduled in said mortgage contracts, ~9 , at the rate of
7• S % 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 Firs~ Parties have assumed and agreed to
pay the irxlebtedness secured by the aforesaid mortgage and to perform and comply with all covenants, obliga-
tions and agreemenis by the mortgagors to be kept and performed 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 responsibifity for any deficiency dec~ee in the event it becomes necessary to forc-
~ close said mortgage; ~ ~ ~
NOW, THEREFORE, in consideration of the sum of b25_00 in hand paid to Second Party, the ~receipt of
which is he~eby acknowledged, and, in further mnsideration of the agreemer~t of Second Party PD consent to
the aforesaid transfer, said eonsent being evidenced hereby, first Parties do hereby assume personal liability
for and agree to pay the indebtedness secured by the aforesaid mortgage at the times and in the.manner specified
~ in fhe aforesaid mortgage and in the promissory note therein described, and do further agree to perform, -
~ oomply with and abide by each and every stipulation, agreement, covenant and condition af iaid note and ;
mortgage. ' ~ ~ .
Seeond Party hereby mvenants and agrees that it will not seek a deficiency decree egainst the Third -
against the Third Pa~ties in the event it becomes necessary to enforce the mortgage sec~xity, nor enter any suit- ~ ~
on the promissory note against the personal responsibility of Third Parties.
!N WITNESS WHEREOF, the parties have hereunto executed this Agreement o~ 24th of `
Tuly~ , 19 72 , i
LYNAR~ INC. 3
Signed, sealed and delivered g ~ Q (SEAI) 1
~ in the presence of: ?
~ . Purchaser - First PartyEdmund M. Radke, its pres.
~ " ~ • ATTEST : 717v» /~a~1~t.e.~ (SEAI)
~ a. Purchase~ - First PartyDoris M. Radke~ its Sec'y.
~ to F' Parties - Purchas
~ •
~ Borrower - Third Party red F. Adams
,
a . • ~ 1~ L~ • z ,Lf - ~llf"cYc;>>= "j' (SEAI) ~
~ to rd Parties - Borrow - Borrower - Third Party Dorris D. Adams
~ ' FIRST FEDERAL SAVINCS AN AN
~ ' . . AS.SOCIATION OF FORT
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~ S~'iIOR - ~ Vioe-P'resident ;
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