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MORTGAGE MODIFICATION
. AND ASSUMPTION AGREEMENT ~
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This agreement, made this 19th day of Auqust, 1977, by and f
between FIRST NATIONAL BANK OF FORT PIERCE, a national banking
corporation of the State of Florida, party of the first part, hereinafter
called Mortgaqee, and WAYNE U. SINES, jR. , party of the second part,
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hereinafter called Mortqaqor, and GARY E. LAWRENCE, party of the thlnd
part, hereinafter called Purchaser.
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WHEREAS, Mortqaqor is indebted to Mortqagee under a certain
note-date~Oc~Ober 8, 1976, in the principal amount of Flfty One Thousand,
Eiqht Hundred Thirty-seven and 39/~QO Dollars ($51,837.39), which said
note is secured by a mortqaqe of even date therewith, which said mortqaqe ~
is recorded in the office of the Clerk of the Circult Court, in Official Records
Book 258, at Page 2191, of the Publlc Recorcis of St. Lucie County, Florida.
WHEREAS, Mortqagor has sold and conveyed to Purchaser all of
the real pr~perty described in the said mortgaqe, and both Mortgaqor and
Purchaser have requested Mortqagee to enter into this aqreement;
WHEREAS, in oonstderation of the executlon of this agreement by
Mortgagee, Purchaser is willinq to assume the payment of the mortgage indebted-
ness due and owing from Mortgagor to Mortqaqee, such assumption havinq
been aqreed to by and between Mortqagor and Purchaser as part consideration
for the conveyance as aforesaid of the mortgaged premises by Mortgagor to
Purcha ser; and
WHERFAS, Mortqaqor and Purchaser represent to Mortgaqee that
there is no second mortqaqe or other subsequent lfen now outstandinq aqainst
the real property described tn the aforesaid mortqage held by Mortgaqee is a
valid, first and subsisting lien on said real property;
NOW, THEREFORE, in consideration of the premises and of the
mutual agreements herein contained, and upon the express conditlons that
, the Iien of the aforesaid mortgaqe held by Mortqaqee !s a valid, first and
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subsisting lien on said real property and that the executton of this agreement
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