HomeMy WebLinkAbout2909 ASSUMPTION AGREEMENT 23~8~6.
Loan No.. 18 ~ 460
THIS AGREEMENT, made by --~~R~ I~~ a Florida Cor~oration ~
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of St. LuCie _ County, Florida, first parties, and FIRST FEDERAI
SAVINGS AND LOAN ASSOCIATION Of FORT PIERCE, a corporation with main office in Fort Pierce, Florida,
second party, and _ Fred F. Adams and Dorris D. Adams, his wife
Third Parties. ^
June 13 72. Third Parties be-
WITNESSETH: That whereas, on • 19
ing ~ndebted ro Second Party in the sum of , did make, execute and deliver
unto Second Party a certain promissory note and Mortgage Deed securing the same, said mo~tgage encumber-
ing prope~ty situate in St. LuCie County, Florida,
described as follows:
South 75 feet of the West 50 feet of Lot 16 and the South 75 feet of Lots 17
and 18~ Block 1, ROY G. HILLIARDS SUBDIVISION, As per plat thereof on file
in Plat Boo1c 4, page 17, of the Public Records of St. LuCie County, Florida
which mortgage is of record in O. R. g~k 203 ,~ge 1126 the public
records of St. LuCie C~nry, Florida; and
WHEREAS, fhere is now unpaid on said promissory note , the principal sum of E 24~700'00
together with interest9'fo?~as scheduled in said mnrtpaQo cr,ntract~ , 19 , at the rate of
7• 5 % per annum, and .
WHEREAS, First Parties have purchased said prope~ty 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
''f pay the indebtedness secured by the aforesaid mo~tgage and to perform and comply with all covenants, obliga-
~ tions and agreements by the mortgagors to be kept and performed under said mortgage; and Third Parties, iden-
! tified as original bororowers herein, have requested Second Parry to consent to such transfer of said property
and relieve Third Parties of responsibiliry for any deficiency decree in the event it becAmes necessary to fore-
dose said mortgage;
NOW, THEREFORE, in consideration af the sum of 525.00 in hand paid to Second Party, the receipt of
which is hereby acknowledged, and, in further mnsideration of the agreemerrt of Second Party io oonsent to
the aforesaid transfer, said eonsent being evidenced hereby, first Pa~ties do hereby assume personal liabitity
for and agree to pay the indebtedness secured by the aforesaid mortgage af the times and in the manner specified
in fhe aforesaid morfgage and in the promissory note therein described, and do further agree to, perform,
mmply with and abide by each and every stipulation, agreement, mvenant and condition ~ of seid note and . :
mortgage. ~
Second Party hereby covenants and agrees that it will not seek a deficiency decree against t#~e Third' `
against the Third Pahies in the event it becomes necessary to enforce the mortgage security, nor enter.any suit
on the promissory note against the personal responsibility of Third Parties.
IN WITNESS WHEREOF, the parties have hereunto executed this Agreement o~ 24th day of
July , 19~_: EDMAR~ INC.
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Signed, sealed and delivered gy; ~5~~~
in t presence of: purchaser - First Party d M. adke~ its Pres.
.
~ h/ o~~ 7l/ . r (SEAI)
- ATTEST:'
Purchaser - Fint Party D~X's 1N~; jta~cei~ it~ Sec'y.
J
ro F' Parties - Purchaser
_ ~ ' SEAL)
Borrower - Third Party Rred R. Adams
~ ' ~ . ! ~l L'~~» Y~ (SEAI) ~
s to ird Parties - Borro r Borrower - Third Patty Dozris D. Adams ;
, ' ' ~ ~ ' . FIRST FEDERAL SAVINGS AN ~
. ~ • _ AS,SOCIATIO F CE ~
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~ ~ ' . S~1I0~ Vioe-President '
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