HomeMy WebLinkAbout0268 NOW THEREFORE, in consideration of One hundred seventy
five and 00/100 ppL~g 175.00 ) and other qood and
valuable consid~ration; ~eceipt of which is hereby acknowledged by
Mortgagee, it is mutually agreed by and between the parties hereto
as follows:
1. That the credit of the Purchasers is satisfactory to '
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the Mortgagee and that the Purchasers are accepted for membership in
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the Mortgagee. .
~ 2. That as a part of the purchase for said real estate the
Purchasers hereby assume and agree to pay the above-described note
and mortgage to the Mortgagee and that the Purchasers hold said
property subject to said note and mortgage and that they will make
the prescribed monthly payments thereon to said Mortgagee and perform
all other requirements in accordance with the terms of this Agreement
and said note and mortgage.
3. That the parties hereto agree that the interest rate of
8•8 per cent per annum as set forth in said original note
her'einbefore described is hereby amended to 8-8 per cent per
annum and the parties hereto further agre~ that the payment of .
$ 2~~-~9 per'month as set forth in said original note is amended
to S - 270•79 for each and every month hereafter.
4. That all'terms, covenants and conditions in said orig~nal
note and mortgage referred to which are not inconsistent herewith are
hereby expressly confirmed, ratified and declared to be in full force
and effect.
5. Mortgagee hereby releases First Sunrise Development Company,
Alden F. Peck, Sr.., individual2y,
Alden F. Peck,Jr., Individuall Ann , as Mortgagors under the
Peck, in ivi ua ly, June Peck, individually=
hereinbefore described note and mortgage, from all personal liability
on said note and mortgage.
6. This Agreement does not constitute the creation of a new
debt, nor the extinguishment of the debt evidenced by said note and
mortgage, nor does it in anywise affect or impair the lien of said
mortgage, which lien is a valid and existing first lien on the above-
described preiaises.
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