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. ASSUMPTION AGREEMENT
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THIS AGREEMENT, made by GARY A. WALKER and VEDA L.
WALKER, his wife, of St. Lucie County, Florida, first parties, ~
and SUN BANK OF ST. LUCIE COUNTY, Fort Pierce, Flo~ida, a
Florida corporation, second party, and I,AURA B. HANCOCK,
third party.
WITNESSETH: That whereas, on June 14, 1973, the
third party, being indebted to second party in the sum of
Thirty-seven Thousand Five Hundred Dollars ($37,500.00), did
make, execute and deliver unto second party a certain pro-
missory note and mortgage deed securing the same, said
mortgage encumbering property situate in St. Lucie County,
Florida, described as follows:
Lots 5 and 6, BloCk N, M~.RAVILLA ESTATES,
as per plat thereof recordedt in Plat
Book 8, at page 77, of the public records
of St. Lucie County, Florida.
. ;
which mortgage is of record in O.R. Book 215, page 15'76, of !
the public records of St. Lucie County, Florida, and
WHEREAS, there is now unpaid on said promissory note,
the principal sum of $ 37 349.29 , together with interest
from December 1 , , at e rate of 8$ per annum,
and
WHEREAS, first parties have purchased said property
from third party; subject to the lien of the aforesaid mort- •
gage, and, as a part of the consideration for said property,
the first parties have assumed and agreed to pay the indebted-
ness secured by the aforesaid mortgage and to perform and
comply with all covenants, obligations and agreements by the
mortgagors to be kept and performed under said mortgage; and
third party, identified as original borrawer herein, has re-
quested second party to consent to such transfer of said pro-
perty and relieve third party of responsibility for any de-
ficiency decree in the event it becomes necessary to foreclose
said mortgage;
NOW, THEREFORE, in consideration of the sum of $10.00
in hand paid to second party, the receipt of which is hereby
acknawledged, and, in further consideration of the agreement
' of second party to consent to the aforesaid transfer, said
~
~ consent being evidenced hereby, first parties do hereby as-
s sume personal liability.for and agree to pay the indebtedness
4 secured by the aforesaid mortgage at the times and in the
f manner speci~ied in the aforesaid mortgaqe and in the promis-
' sory note therein described, and do further agree to perform,~
` comply with and abide by each and every stipulation, agreement, 3
` covenant and condition of said note and mortgage. 1
~ Second party hereby covenants and agrees that it will
not seek a deficiency decree against the third party in the
~ event it becomes necessary to enforce the mortgage security,
~ nor enter any suit on the promissory note against the gersonal
~ responsibility of third party.
3
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NEfLI dRIF~IN JEIFRIE9 i LLOYD
CHARTfRED
P O 60X 1270. FORT PIERCE, ilOR10A 33450 - TELEPMONE (305) 464-8200 ~
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