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ASSUMPTION AGREEMENT
lonn No.._ 10020465
THIS AGREEMENT, made by Willias T. DeMarCUS and Lois J• DeMarCUS. his
of St LuCie County, Florida, first parties, and FIRST FEDERAL
SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE, a corporation with main office in Fort Pierce, Florida,
second parry, and Andrew Borbotko sad BeatricQ M. Borbotlc~,_. his wif~
Third Partiss.
WITNESSETH: That whereas, on OCtobes 3 19 73 . Thi~d Panies be-
ing indebted ro Second Party in the sum of ~27 - ZOO • 90 , did ,make, execute and delivef
unto Second Pary a certain promissory note and Mortgage Deed securing the same, said mortgage encumber-
ing prope~ty situate in St . Lucie County, Flo~ida,
described as follows: "
Lot 12~ Block 60, LAKBWOOD PARK, UNI? NO. 6~ as per plat thereof
on file in Plat Book 11, paqe of the public recorda of St.
Lucie County, Flozida,
. . . . . . • 3 / IN WlYME1R ~ t11
~
STATE ~F FLORIQA ~ '~NOD ~,nT~+c?~~~~ •
sD DOCUMEPtTARY -~,STA____MP TA x I , »_13e. 1~S Of 1y~1~~
t T TO G'~. ~
°c~ OEPT. OF REYENUE -ra ` • fiC~;E"• ~IT~'S ~
P~ - 1 ~ ~ 8 ~ ~ (;LE{tK CIRf~lIT OWRi. 5L WC~E
_ AtR 0'I~
N
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which mortgage is of record in R• gook - 219 ~ page 1690-1691 af the public
records of St . LuCie County, Florida; and
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~ WHEREAS, there is raw unpaid on seid~ promissory note , the principal sum of ~ 27~200•00 -
together with inte~est from FeDrua~cy 5 19~4-._, at the r~±e of
9.25 96 per annum, and
WHEREAS, First Parties have purchased said property from Third Pa~ties; subject to the lien of the afore-
said mortgage, and, as a part of the consideration for said prpperty, the First Parties have assumed and agreed to
~ pay the indebtedness secured by~ the aforesaid morigage 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
E and relieve Third Parties of responsibility for any deficiency dec~ee in the event it becomes necessary to for~
~ dose said mortgage;
NOW, THEREFORE, in consideration af the sum of E25.00 i~ hand paid to Second Party, the receipt of
which is hereby acknowledged, anci, in further eonsiderotion of the agreement of Second Party 1n c~onsent to
the aforesaid transfer, said consent being evidenced hereby, f~rst Parties do hereby assume persona) liability
for and agree to pay the indebtedness secured by the aforesaid mortgage at the times and in the manner specified
in the aforesaid mortgage and in the promissory note therein described: and do further agree to perform. Q
oQmply with and abide by each and every stipulation, agreement, covenant and conditwn of said note and
mortgage.
Seeond Party hereby covenants and agrees that tit will not seek a deficiency decree against the Third
against the Third Parties in the event it becomes necessary to e~force the mortgage security, rwr enter any suit
on the promissory note against the personal r~sponsibility of Third Parfies. .
IN WITNESS WNHtEOF, 74 parties have he~eunto execvted this Agreement on
FebruarY 4 , 19 .
i . ~ .
ig sealed and de~livered / EAL)
in presence of: Purchaser - First Party Willias DeMarcus
~ ~ ' S~~ - .c-
~ - " ~ ~ Lois J1 ~Marcus
~ ~C~. _ Pur aserr nt Party
~ as ,~irst Parties - Purchb ; ~ t~,~h
(SEAU
Ct i I Borrower - Thi d PartyAndYex Borb~~,kq,,.~` .
, F ~t~'t
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~ ~ ~~~...c ~~"I. -•~-t~C ~ ~ ' ~r r
as to Third Parties - Bor wer ~Borrower - Third Parfy~atri~~, `•.~`8~bof~`A . ,
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FIRST FEDERAL SAVINCS AND L~IW n~ ~
IATION OF FORT WERCE a 1~ ;
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