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NO~i THEREFORS, in conaideration of OI~ H~1DR~D SEVF.NIY-FIVE
AAID NO/100------- ~ •
~ DC~LLARS ( S 17S. 00 ~ ) and other good and
valuable consideration, receipt of which is hereby acknowledged by
Mortgaqee, it is mutually agreed by and between the parties hereto ~
as follows: ~
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1. That the credit of the Purchasers is satisfactory to j
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the Mortqagee and that the Purchasers are accepted for membership in
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the Mortgagee. _
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2. That as a part of the purchase for said real estate the ~ ~
Purchasers hereby assume and aqree to pay the above-described note _
and mortqaqe.to the Mortgagee and that~the Purchasers hold said . 3
property subject to said note and mortgaqe and that they will make
the prescribed monthly payments thereon to said Mortqaqee and perfona
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all other requirements in accordance with the tenas of this Agreement ~
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and said note and mortgage.
3. That the parties hereto agree that the interest rate of
g,~$ per cent per annum as set forth in said original note
hereinbefore described is hereby amended to -8.75 per cent per
annum and the parties hereto Eurther agree that the payment of
$ 197.32 per month as set forth in said original note is amended ~
.~o $ 197,32 for each and every month hereafter.
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4. That all terms, covenants and conditions in said_original ~ ~
note and mortqage referred to which are not inconsistent herewith are ?
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hereby expressly confirmed, ratified and declared to be in full force
and effect. ~
5. Mortgagee hereby releases F,dward J. Phelan and SYlvia-M. Phelan
~ , as Mortgagors under the ~
hereinbefore described note and mortgage, ~rom all personal liabi].ity `
-on said note and mortgage. ~
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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, whicti lien is a valid and exiscing f~rsc 3~cr. oa ~2:~
described premises. .
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~ BOOK 2$$ Pac~ 570
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