HomeMy WebLinkAbout0622 NOW THEREFORE, in consideration of One hundred seventy
five ppLypRg 175.00 ) and other good and
~ valuable consideration, receipt of which is hereby acknowledged by
Mortgagee, it is mutually aqreed by and between the parties hereto
as follows:
1. That the credit of the Purchasers is satisfactary to
the Mortgagee and that the Purchasers are accepted for membership in
~ 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 r~quirements in accordance with the terms of this Agreement
and said note and mortgaqe.
3. That the parties hereto agree that the interest rate.of
9•~ per cent per annum as set forth in said original note
hereinbefore described is hereby amended to 9•1 per cent per
annum and the parties hereto further agree that the payment of
$ 277.51 per month as set forth in said original note is amended
to $ 2~~•51 for each and every month hereafter.
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4. That all terms, covenants and conditions in said original
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, a Florida Corporation , as Mortgagors under the
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 premises.
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