HomeMy WebLinkAbout0932 i - .aw.
i=
o STATE FI..OF21Cl~ ~ ; , - ;one • ~ • j
~ < DOCUMENTARY :;STAMP TICK ~ ~ f~
° aEPfi.or aevf-nut y •.~a 455 This inst•r was p aced by.
Y._
- P.S. " SfP 12')! 1 ~ 0. 1 0
_ ~ ~i~c~a ~ ARLENE POLIFRONI
t
• MODIFICATION, RELEASE, AND ASSUMPTION AGREEMENT
LOAN / 7667 DATE: June 1. 1979
The parties to this agreement ara The Williamsbur h Savin s Bank
_ , ere na ter ca ed 'ender'
and RnnFRT
R^yRr,~ ~n~
Runne~,~
ere na ter called New Ob Igor s
WHEREAS,
hereinafter referre to as ' r g na b gor s execute a promissory note or assump- _
lion thereof on the day of ~A„~~, , 19„3c,L, evidencing a
principal indebtedness o
Dol 1 acs secured by a mortgage- upon rea
property said mortgage being recorded n the Public Records of St. Lurie
County under Clerk's File Number 438366 , and -
WHEREAS, said Original Ob ligor(s) are conveying the property to said
mortgage to the New Obligor(s), and
WHEREAS, paragraph 17 of said mortgage states that the Lender may accelerate
the balance due secured by said mortgage upon said conveyance unless the Lender and
the person(s) to whom the subject property is conveyed reach agreement in writing
that the credit of such person(s) is satisfactory to Lender and that the interest
payable on the sums secured by the mortgage shalt be at a rate acceptabie to the Lender
and.
WHEREAS, in the event such an accord is reached the Lender is then required
to release the Original Obligor from all obligations under the mortgage and note, and
WHEREAS, the parties have reached such an agreement and wish to reduce same
to writing; -
NOW THEREFORE, in consideration of the mutual promises and covenants 'Q`
contained herein the parties agree as follows:
~ 1. The undersigned New Obligor(s) hereby expressly assume and agree to
pay the indebtedness represented by the aforementioned promissory note which
i ndebtedness i s naw the sum o~. v Three Thu nd
and 36/100-------------- ~ ~rf 73.719.36 due according to the terms and
conditions of the aforementioned note and mortgage without defense or offset and agree
to be liable-therefore as fully and to the same extent as if the original maker or
Original Obligor(s) thereon.. In addition the undersigned New Obligor(s) agree to
personally perform and to fully abide by all of the terms and conditions set forth in
the aforesaid note and mortgage.
2. The provisions of said note and mortgage are hereby expressly reaffirmed
except as follows:
(a) Interest on the subject obligation shall henceforth accrue to the
Lender at the rate of Nine and Seven Eighths percent ( 9.875 per annum,
effective June 1, 1~
(b) The regular amortizing monthly payment due in accordance with the
tc:rs cf the aforementioned note shall henceforth !~e in the sur.: of Six Hundred Forty
Four and 46/100--^~-------------~--- Dollars (S 644.46 )due and payable
on~the
same day of each and every month as called for by the subject promissory note,
effective July 1, 1979
• 3. The Lender recognizes the New Obligor(s) on the subject loan, approves
the credit of same, and hereby releases the Original Obligor(s) from further obligation
or liability under the mortgage or note referred to above..
_ 4. Except as specifically designated herein, nothing here shall constitute
a change or amendment to the aforementioned promissory note and mortgage the provisions
of which are specifically reaffirmed by the New Obligor(s).
R~iwd i in Payer Of Taxaa
Dw On CMss'~C" lal~ngila PwsoMl P~apwty,
Pwwant Ti CM~r 7f, i>l~ Awq 1p1.