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NOW, THEREFORE, in consideration of the foregoing,
the covenants and conditions contained herein, and
other good and valuable consideration, the receipt of
which are hereby .acknowledged, the parties hereto,
intending to be legally bound, hereby agree as follows:
1. Mortgagee hereby advances credit to Grantees -
in the amount of the unpaid principal balance of the
Note.
2. Grantees, jointly and severally, hereby
assume and agree to pay the entire unpaid principal
balance of the tdote, together with interest thereon
from the date of assumption (which date shall mean the
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date on which the deed from Mortgagor to Grantee is
recorded), according to all the provisions of the Note;
~ provided, however, that the provisions of the Note
which Grantees assume and agree to pay shall be and
hereby are modified as follows:
(a) Beginning on the date of assumption, the
interest rate shall be nine and seven-eighths
percent ( 9.875 per annum;
(b) Beginning with the first monthly installment
due following the date of assumption, the monthly
installments shall be Two hundred seventy-eight and 14/100
Dollars
278.14
3 of 6
ao~K315 PaGE 55 `