HomeMy WebLinkAbout1616 _ - o _
4a18~~+0 _ 1,r„ ..:~;ru-^~ent prepared by: ~ ~ -
t i~ !t Maureen Wilson 31-33703-6
FIRST FEDERAL SAVtNCS
MODIFICATION AGREEMENT~~ pan AssocN~ion ~ th. v,~m tlexnm
P.0. DRAWER f
WEST PRIM BEACN. FEORIDA 334
THIS AGREEMENT, Made and entered into this day of
~LE,~19~~/by and between FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF THE PALM BEACHES, a corporation existing under the laws of the United
States of America, hereinafter called the Mortgagee; and J.H. TEDDBR
and CAROLYN J. TEDDER , hereinafter called • the Obligors;
WITNESSETH:
WHEREAS, the Mortgagee is the owner and holder of a promissory note
made by Edward M, Lewis and Bernice A. Lewis on
December , for the principal sum of 48-0~~, w t interest
thereon at t e rate of ~
~_S $ per annum payable in mon Iy installments
of $~~g(~ each, secured by a mortgage which is recorded in Official
Record Book , Page Public Records of County,
Florida, enc Bring the rea property described therein; an WHEREAS,
have conveyed the said
property encumbered y said mortgage to the O ligors who have agreed to
assume the mortgage indebtedness; and WHEREAS the present unpaid balance
of said indebtedness is $ 47~0~4.47
NOW, THEREFORE, in consideration of the sum of One Dollar in hand paid
by the parties hereto, one to the other, and in consideration of the premises,
it is hereby agreed as follows:
1. The said promissory note is hereby modified so that the unpaid
balance of the indebtedness evidenced thereby, together with all other-sums
payable by virtue of said promissory note and mortgage, shall bear interest
from the day of p~ o6er , 19~g•. at the rate of 1100
$ per annum
instead of g,5 $ per annum as specified in said note and mortgage; that
said unpaid balance of said indebtedness, together with interest thereon as
herein specified, shall be payable in monthly installments of $ 4.67.28
each commencing on the 1st day of November , 19~Jg • and on the same
day of each succeeding month until all sums, including principal and interest,
are fully paid; and that all terms and provisions of said promissory note and
'k mortgage, except as hereinabove modified, shall remain unchanged.
2• The Obligors hereby promise and agree to pay said indebtedness
evidenced by said promissory note and secured by said mortgage at the times,
in the manner, and in all respects in accordance with the terms thereof as
hereby modified; to perform each and all of the covenants, agreements and
obligations provided in said mortgage to be performed by the Mortgagor; and
to be bound by each and all of the terms and provisions of said mortgage
note and said mortgage as though they had origi~lly been made, executed
and delivered by the Obligors.
IN WITNESS WHEREOF, this instrument has been executed by the parties
hereto on the day and year first above written.
Signed, sealed and delivered FIRST FEDERAL SAVINGS AND LOAN
in the presence of: ASSOCIATION OF THE PALM BEACHES
" , z; ~ ~ V ce President
? ~~~4tly Attest:
As o t e Mortgage ~ ~r''~~ o.Q „7r~ ';po ssi ant Sec tar
; ~ ORTGAGEE
~ J r
- a
:5, _
- J.H. Tedder
" -
As to the Obl ' ors Carolyn T er
OBLIGORS
• ~~x3~s ~~~s~s
~aox