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456110 This r~strutuent was prepared by: ~
Loan No. 29030485
Cindi Johnson
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THIS AGR~B1d1uIBNT. made thin ~SLh... day of __~ust 19.22,
by and between FIDBI.ITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF WEST PALM BEACH, a corporation
e~ciatu?g under the hws of the United Stator of America, and having its prindpal phce of businas in the City of West Palm
Bach, Florida, hereinafter called the Lender, acrd Lquls ~ brie A_., BoudreA~ hereinafter called the Seller; [
and David R: aced' 1.3ann.y~_1~man hereinafter celled the Purcttasa;
WITNESSETH:
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WHEREAS, the Lender is the owner and holder of a certain mactgage note executed and delivered by the Seller
to the Lender, said note being dated ~sh.1?._l9I-$_-_-, in the prindpal amount of = 23400.00 ,
secured by a oertaia mortgage which is recorded in Official Record Book page --24~b-------_, Public Reoorda of
St. .Lucie _ _ County, Florida, encumbering the property described therein, and;
WHEREAS, the Seller is selling the real property deaaibed is said mortgage to the Purchaser and has asked the
Lender to consent to said sale, and the Purchaser has agreed to assume said note and mortgage and has asked the Leader to
consent to the Purchaser's aaaumptioa of acid note and mortgage as part of the purchase price, and;
WHEREAS part of the consideration for consenting to said sale and the Purchaser's assumption of acid none and
mortgage is that the Lender approve the Purchaser's credit and that the interest payable on acid note and mortgage shall be at
such rate as the Laider~ shall request; -
NOW THEREFORE, in consideration on the mutual covenants contained in this Agreement and is acid note and
mortgage, and for other good and valuabk oonsideradons, the receipt of which are hereby acknowledged by the bender, it is
mutually agreed by and between the parties hereto as follows:
1. That the un~idib~arlibt o~ the mortgage note assumed by the Purchaser is S__~3~5.2.4..22*__- - as
of - --_____Ay83i~.L--$---------, 19.72.
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2. That the credit of the Purchaser is satisfactory to the Lender. ~
3. That (a) the interest rate in said original noteis changed to .__--_.l].,Z per cent per annum, and the
monthly payments of prinapal and interest in said original note are changed to S --233-.18 per month, beginning
b _ _ -~e_p_~en4h~s__l., 19--Z2 and (b) that the Purchaser hereby assumes said mortgage and shall perform ach and all
a of the covenants, agreements and obligations in aforesaid original note and mortgage as modified by this Agreement.
4. That all terms, covenants and conditions in aforesaid original note and mortgage which are not inoonsiatent
with this Agreement, are hereby ezpreasly ratified and declared to be in full force and effect. i
S. Lender agrees to release the Seller, _ Loris...and_hlarse-A~--Boudx$au--------------------
and - -
j individually, from all obligations under aforesaid note and
mortgage, and acid person(a) is/are hereby released from all personal liability for the payment of said above descrrbed note
in consideration of the agreement by the Purchaser to assume and agree to pay and perform each and every obligation under {
said note and mortgage as modified by this Agreement.
6. The Seller and Prrchaser warrant and represent to the Lender that the lien of said mortgage, as modified by
this Agreement, is a fuse lies upon the property desanhed therein and that there is no second mortgage or other subsequent
lien, right, or claim of lien, outstanding against the property deacn'bed in the said mortgage. In the event that there is any
such judgment or lieq right, title or inta~eat agarnst or in acid property in favor of any_party or parties not a party hereto as
of the effertive date of this Agreement, or in the event that there has been some intervening interest which affects the validity
or priority of said mortgage, or in the event that the mortgaged property has not been duly c~veyed by the Seller to the Pur-
chaser as of the dace of this Agreement, then the release of the Seller and of the individual(s) a~bove~tipulated shall be of
no force ar effed.
'1. That it is not intended that this Agreement constitute the creation of a new debt, nor the eztinguishment 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 property described in said mortgage.
8. That this Agreement shall be binding upon and shall inure to the benefits of the heirs, executors, adminis-
r etcetera, aucceasors and aasigna of the reapedive parties hereto.
9. The Seller hereby authorizes the Lender to give the Purchaser credit for any escrow balance which might be
held by the Lender.
10. The Purchaser agrees to pay the costs of the recording of this Agreement and any documentary stamps,
intangible tan or other coats pertaining to the recording of the Agreement.
11. The uee of the terms "Purchaser" and "Seller' as used in every instance shall denote the singular and/or
plural and the masculine and/or feminine and/or neuter whenever and wherever the context ao requires or admits.
IN ~RTZTZJESS WHEREOF this instrument has been executed by the parties hereto in manner and form aufficien_
to bind them, as of the day and year first. above written.
* Subject to the receipt of the August lst payment at closing.
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