HomeMy WebLinkAbout1806 . ~ N
ASSUMPTION AGREEMENT 26`~854
,
loan No.. 10019990
THlS AGREEMENT, made by Richard M• Salisbuz~ and Utsel P. Salisbury~ his Mife
of St . LuCie County, Florida, first parties, and fIRST FEDERAL
SAVINGS AN~ IOAN ASSOCIATION OF FORT PIERCE, a corporat;on with main office in Fort Pierce, Florida,
second party, and ~bby C. Oowns and Barbara C. Do~rns~ his ~?ife ~
Third Pariies.
WITNESSETH: That whe~eas, on Feb7cuazy 21 _ , 19 ~a . Third Parties be-
ing indebted I~o Second Party in the sum of ~ 22~90~•~ , did make, execute and deliver
unto Second Party a tertain promissory note and Mortgage Deec! ~scuring the same, said mortgage encumbet-
ing property situate in St. Lucie County, Florida,
descYibed as folbws:
Lot 8, Block R, MARAVILLA 65TA?6S, as recorded in Plat Book g, page 9~,
of the public records af St. Lucie County~ Rlorida,
i
~ n ~ STAT =~F FL.GR~Da ~
oZ ~ DbCUMEN ARY, STA M P ~ It {
~ ~ DEPT. Oi REYEHUE ~`a •
- = Pa = ~;~.s~ _ -s~ ~ 3 3. 3 0 i
1
a = ir?at
~ which mortgage is of record in R• gook 199 , page 2~73 of the public
~T .
records of St . Luc ie County, Florida; and
i
~ WHEREAS, tfiere is . now unpaid on said promissory note , the printipa) sum of ~ 22 ~ 174. 31 _
~ tqgether with interest from ~ August 1 , 19_J~_, at the r~te of
7• 5 96 per annum, and
WHEREAS, First Parties have purchased said property from Third Parties; subject to the lien of the afore-
sa+d 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 morigage and to perform and comply with" alt covenanh, obliga-
tions and agreements by fhe mortgagors to be kept and performed under said mortgage; and Third Parties, iden-
tified as originat bororowers herein, have requested Second Party to consent to such transfer of said property
and relieve Third Parties of responsibility for any defitiency decree in the event it becomes necessary to for~
dose said mortgage; .
NOW, THEREFORE, i~ consideration af the sum of a25.00 in hand paid to Second Party, the receipt of
whicF~ is hereby acknowtedged, and, in further eonsideration of the agreement of Secnnd Party to rnnsent to
~ the aforesaid hansfer, said consent being evidenccd hereby, first Parties do hereby assume personal liability
E for and agree to pay the indebtedness secured by the aforesaid mortgage at the times and in the manner specified
~ i~ the aforesaid mortgage and in the promissory note therein described, and do further agree io perform,
~ comply with and abide by each and every stipulation, agreement, covenant and condition of said note and
rr~ortgage.
~ Second Parfy hereby mvenants and agrees that it will not seek a deficiency decree against the Third
~ against ihe Third Pa~ties in the event it becomes necessary to enforce the mortgage security, nor enter any suit
~ on tfie promissory note against the personal responsibility of Third~ Parties.
;
~ August 17 ~TMESS WHEREOF,'~e parties have hereunb execut~d this Agreement o
~ , 19 .
} / i
; Signed. sealed and delivered ~5~~~
in the pr .
ure/~~"aser - Fi C ard . Sal' b ry
_ / / ~
i • ' ~ \JGnI~ ~
~ l ' Purchaser - First Party Ursel . Sali ury ;
t as to Fi st Fart' r ser ?
\ ~ (SEAL) ~
~ Borrower - Party by . ~ms
~ . .
~ :
. Eq~)
r as to Third Parties 8orrower ~ Borrower - Third Party Batbara C. Downs -
~ ;
a FIRST FEDERAL SAVINGS AN AN
~ AS.St~CIATION OF FOR CE
~
~ by
_ ~x ~ Seniot Vic~President
; Etf[ ~ ~
j(,Z ' .
_ _ - . .