HomeMy WebLinkAbout2074 ASSUMPTION AGREEMENT
2 i ~63~;i
loan No. 10020292
THIS AGREEMENT, made by __?~ichael _S. •icCarty!___a _ sin~c 2e_ac~u2t
of _.___St . L.ucie _ _ _ _ _ _ . County, Fiorida, first pa~ties, and FIRST FEDERAL
SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE, a corporat~on with main office in Fort Pierce, Florida,
Lela ~:cCart Daniel
secor.d party, and - - - ~ - - - - _ _ . _
Third Parties.
WlTNESSETH: That .vhereas, on ___August 3, , ~9 73 . Third Parties be-
;ng indebted to Second Party in the surn of 3- __?1_,000.00 _ did make, execute and deliver
unto Se:ond Party a certain promissory note and Mortgage Deed securing the same, said mortga~e encumber-
ing property situate in St. LuCle Caunty, Florida,
described as follows:
Lot 7, Block 4, TROPICAL F.EAC~~ SI~BDI~'TSION BLOCKS 3 and 4, as per
plat thereof on file in Plat Rook 10, pae~e 9, o' th~ public records
of St. Lucie c'ounty, ~'lorida
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~ ON CuS! 'C 1pT,~~~ ~~Ili OF Tjy~
,R STATE FL~ ~ ~ J~_: 1 ~~uwr m ~
_ DG~~UMENTARIr,~ ST~,Mc; t ~~Et71•l~,,~~~~ir,
nE,~r~~i-kEr[~ut ; ~ __l,_' ~ ~y~~ IaBFp Ifrli.
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b•~~.~'~~ ~I:? _ 3 1. 5 ~ j oou~r, ar u,q~ ~c
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which mort+gage is of record in - R' -___Book___ ~j~ , page_ 2880 of the pubiic
- records of St . Luc ie _~i ~ County, Florida; and ,J
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` WHEREAS, there is now unpaid on said promissory note , the principal sum of ~_20~967.84 _
~ together with interest from _January 21,_~ ~9 74 , at the rate of
8• 7 S % per annum, and
WHFREAS, 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 a!I covenants, obliga-
tians 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 Party to consent to such transfer of said property
and relieve Third Parties of responsibility for any deficiency decree in the event it becomes necessary to fore-
close said mortgage;
NOW, THEREFORE, in considerat+on of the sum of E25.00 in hand paid to Se~ond Party, the receipt of
which is hereby acknowledged, and, in further consideration of the agreement of Second Party To mnsent to
the aforesaid transfer, said consent being evidenced hereby, First Parties do hereby assume personal liability
for and agree to pay the indebtedness secured by the aforesaid mortgage at the t+mes and in the manner specified
in the aforesaid mortgage and in the promissory note the~ein described, and do further agree to perform,
comply with and abide by each and every stipulation, agreement, covenant and condition of said note and
mortgage. -
Second Party hereby covenants and agrees that it wilt not seek a deficiency decfee against the Third
against the Third Pariies in the event it becomes necessary fo enforce 1he mortgage security, nor enter any suit
on the promissory note against the personal responsibility of Third Parties.
~ `(jN WITNESS WHEREOF, the parties have hereunto executed this Agreement o
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Signed, sealed and delivered L-'/~ . ' L ""___rr _
in the presence of: (SEAI)
~ - Purchaser - First PatT~y'
~ .
~ ~ . ~ (SEAL)
Purchaser - Firs1 P
as o First Parties - Purchasers ~ t~ p~1 n i
' - - 1c~ 1 ` ~
i ' • ~ ~ i 1 V 1 ~ ~ (SEAL)
Borrower - T ird Party
. _ti (SEAL)
s t ird Parties - Borrow .BA,r,rpw~~ r~~Fs~ld Party
~ f~RSi FCD~RA~.~SAVINGS AND LOAN
This instrument prepared by TtOfV,C~_FORT PIERCE
a
.
John MT. Collins - • . - '
First Federal Savings and Loan •
Association of Rt . PieYCe, Rlorida y, ~4 6~wr~we Vice-President
,
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