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~4~9 Thia instrumcnt waa prepared by:
2gp310q9 Sus~n L Donnel7
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~ THIS AGREEMENT, madc t6i~ ._2_..__ day of -~Pr~-----------------------_, 19-Z~-.
by and between FIDELITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF WF.ST PALM BEAC~i, a corporaaon
e:ieang under the laws Qf the Unitod Statea of America, and having its prindpal place of bueineas in the (~ty of Weat Palm
Beach, Florida, hereinafter ulled tht I.ender, and- ___Elisabeth A. Sk lto ha~einafter callod tht SeUer;
and ldill191a._H~.R?~rgp~R SG Ci2'A(`P Rnr,gP_RR ---s hereinafter callod the Purchaau;
WITNESSL'T'H:
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WHEREAS, the Lender is the awner and holder of a certain moctgage note ezecuted and delivered by the~Seller
co the Lender, eaid note being daud _FebruarY_-2]'i- 1~8 in the principal amount of i--?2a2-~-~-
secured by a eertain mortgage which ia reoorded in Offiaal Rec~ord Book - 2~..-.---, pa8e ---12a1------, Public Rernrds of ;
_~_~~s~' . County, Plorida, encumbering the property deacribed therein, and; ~ .
WHEREAS, the Sellec ta aeUin the real property deaaibed in said mortgage to the Purchaaer and haa aeked the
Lender to consent tfl aaid aale, and the Pur~r has agreed to a~sume said note and mortgage and has asked the Lender to
consent o~ the Purchaaer'a asdumption of aaid note and mortgage as part of the purchase price, and;
WHEREAS part of the co~ideration for consenting td~ ~aid~ and the Parchaaer
s assumption of said note and
mortgage ia that tht I,ender approve the Purchaaer'a credit and that i~~r~'p~1~ob 0~ pott and mortgage shall bc at
such race aa the I~n~ ahaU nqueet. . '~''~:r.i
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NOW THEREFORE, in consideration on the mutual co~ittr.it~p~cpntained in this Agreement and in aaid note and
mortgage, and for other good and valuable cansideraaons, the aceipt;of. which.are hereby acknowledged by the Lender, it is
mutually agc~ed by aad betwe~n the parties hereto aa follows:
1. That the unpaid balance of the mortgage note assumed by the Purchaaer is s____28~~~~~---- aa
~,f ------------A-~-ril 19_74__. .
2. That the credit of the Purchaser ia satisfactory to the I.ender. ~
't 3. That (a) the interest rate ia said original noteis changed to 9.75_°~i - per cent per annum, and the
:nonthly payments of principal and intereat in said original note are changed to 2~_•7,2 per month, beginning :
---------.M&~y_--- 1..------ 19. _7_9- and (b) that the Purchaser hereby assumea said mortgage and ahall perform each and all ,
ot the oovenants, agreements and obligations in aforesaid original note and mortgage as modified by this Agreement.
4. That ~all terme, covenants and conditions in aforesaid original note and mortgage which are not inconsiatent
with thia Agreement, are hereby ezpreasly ratified and declared to be in full force and effect.
' S. Lender agreea to release the Seller, Elizabeth A._ Skelton__________.
' and
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; individually, from all obligationa under aforesaid note and ~
' mortgage, and said peraon(s)- is/are hereby released from all persnnal liability for the payment of said above dearnbed note
! in considerdtion of the agreement by the Purchaaer to aseume and agree to pay and perform each and every obligation under
E said note and mortgage aa modified by thia Agreement. -
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e 6. The Seller and Purchlau warrant and repreaent to the Lender that the lien of aaid mortgage, as modified by !
! this Agreement, is a firat lien upan the property deacnbed therein and that there ia no second mortgage or other auboequent
~ lien, right, or claim of lien, outstanding agarnst the property deacribed in the said mortgage. In the event that there ie any ~
~ such judgment or lien, right, title or interest against or in said property in fav,or of any party or partiea not a party hereto as =
~ of the effective date of this Agreement, or in the event that there haa been gome intervening intereat w}uch affecta the validity ?
ur priority of aaid mortgage, or in the event that the mortgaged property has not been duly conveyed by the Seller to the Pur- '
~ ~haser as of the date of this Agreement, then ~he reteaae of the Seller and of the individual(s) a~ove~stipulated shall be of
~ no force ar effux.
~ 7. That it ia not intended that thia Agreement constitute the creation of a new debt, nor the extinguishment of ~
~ the debt evidenced by eaid note and mortgage, nnr doee it in anywise affect or impair the lien of said mortgage, which lien is ~
~ valid and existing first lien on the property deacribed in said mortgage. ?
~ 8. That thia Agreement shall be binding upon and shall inure to the benefits of the heira, executors, adminis-
? trators, succeasors and aasigns of the reapective parties hereto.
f 9. ?he Seller heraby authorizes the I.ender to give the Purchaser credit for any escrow balance which might be ~
held by the I.ender.
' 10. The Purchaser agrees to pay the costs of the recording of this Agreement and any documentary stamps,
~ intang~ble tax or othei costa pertaining to the recording of the Agreemcnt.
~ tl. Tfit uee of the terma "Purchaaer' and "Seller" as used in every instance shall denote the singular and/or
: plural and the maeculine and/or feminine and/or r?euter whenever and wherever the conteat so requirea or admits.
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IN WITNESS WHEREOF thia inatrument haa been executed by the parties hereto in manner and form sufficient
~ to bind them, as of the day and year first above written.
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