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HomeMy WebLinkAbout0990 1 e ` r' `h ! . ~ ~ 33C,~~., S A E Q~ FL.C~RIQA : ~ dF j~~ ASSUMPTION AGREEMENT ~ n0 UMENTARY .,-•:;~ST MP_,tAX` ` DEPT.O REYENUE a ' 1 ' ~ ~ 6 ~1 6 5 . ~ P.a. . ~ \~4.D ~ .11N• ~ ~ ~ N{Oi . cE?o~ ~'q' ~'''a~,' w. a ad3-~ ! ~ ~ 1~' ~ Loan No . 8442 ~ _ ~ ~ ~ - ~ THIS AGREF2iENT, made by Mullins, Inc, a Florida Corparation with ~ ! main office in Fort Pierce, Florida of St. Lucfe County, Floridasfirst i . ~ parties, and Sun Bank of St. Lucie Caunty, a corporation with main office ~ in Fort Pierce, Florida,second party, and Douglas E. Mullins and Edith ~ G. Mullins, his wife~ third parties. WITNESSETH: That whereas, on February 12, 1974. Third Parties be- ing indebted to Second Party in the sum of $60,000.00, did make, execute and deliver wato Second Party a certain promissory note and Mortgage Deed securing the same, said mortgage encumbering property situate in St. Lucie County, Florida, described as follovs: " F.- ~ :,A S~ - o~:~ ~ ~~[.~8-.rva -0038 aao~ . Lot 32 of INDUSTRIAL SUBDIVISION, located in Section 28, Towaship 35 South, Range 40 East, and recorded in Plat Book 9, page 5 of the Public Records of St. Lucie County, Florida . whizh mortgage is of record in Official Records Book 223, page 2537 of the public records of St. Lucie County, Florida and i~IHEREAS, there is now unpaid on said promissory note, the principal sum of $43.,048.15 together with iaterest from March 20, 1976, at the rate i ; of 8 1/2 percent per annum, and ~ i ~ WHEREAS, First Parties have purchased said property from Third Parties; ; sub~ect to the lien of the aforesaid mortgage, and, as a part of the considera- ` tion of said property, the Fir~st Parties have assumed ar?d agreed to pay the ~ indebtedness secured by the aforesaid mortgage and to perform and coaply ~ with all covenants, ob~.igations and agreements by the mortgagors to be ~ kept and performed under said mortgage; and Third Parties, identified as . ' original borrowers 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 ~~o foreclose said ; mortgage; ~ NOW, THEREFORE, in consideration of the sum of $25.00 in hand paid to ~ Second Party, the receipt of which is hereby acknowledged, and, in further ' consideration of the agreement o€ Second Party to consent 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 times and in the manner spec~.fied in the ~ aforesaid mortgage and in the prvmissory note therein described, and do furth- ~ ' er agree to perform, comply with and abide by each and every stipulation, ~ agreement, covenant and condition of said note and mortgage. ; Second Patty hereby covenants and agrees that it will not seek a deficiency ~ decree against the Third against the Third Parties 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 WIT~ SS kiEREO the parties have hereunto executed this Agreement on ; f~ a~.c,~ 24 ~ , 1976: ~ ~ ~ ~ E f it ~:v!! tlIDE ~ ~ w _ ~ : ~ ~ ~ w ~ y _ ~ n . _ _ ~ W.~ . ~