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Lee A. Taylor
20058642 COtn~,r:uract? 4,.
AGREEMENT :.,xu? A,.cr
Riviera Beach f ~u~ ?v~.
THIS AGREEMENT, made this 12th day of October ~ lg 79
by and between COMMUNITY FEDERAL SAVINGS A?7D LOAN ASSOCIP'!'ION OF
-RIVIERA BEACH, a corporation organized and existing under the laws
of the united States of America, hereinafter referred to as
"Mortgagee" , and Robert J. Young ~ Cynthia A. Young
hereinafter referred to as "Purchaser".
W I T N E S S E T H:
WHEREAS, the Mortgagee is the owner and holder of a
promissory note dated June 8, , 19 79 in the original amount
of__ 'Thirty Eight Thousand Seven Htmdred and 00/10(bOLLARS (8,700.00 ~
which is secured by a mortgage of even date and recorded in Official
Record Book 310 Page 1099 Public Records of St. Lucie
County, Florida, which encumbers real estate described as follows;
to-wit: Lot 13, Block 575, Port St. Lucie Section Thirteen, according to
the Plat thereof, as recorded in Plat Book 13, Pages 4 and 4A through
4M, of the Public Records of St. Lucie Cowity, Florida.
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WHEREAS, the Purchasers are purchasing said real estate and
have agreed to assume said note and mortgage and have made application
to the Mortgagee to allow the Purchasers to assume the hereinbefore
described indebtedness evidenced by said note and mortgage as apart
of the purchase price.
WHEREAS, part of the consideration for allowing the Purchasers
to assume said note and mortgage by the Mortgagee is that the Mortgagee
approve the Purchasers' credit and that the interest rate shall he at
such rate as the Mortgagee shall request in accordance with Paragraph
10 of said mortgage being assumed and that the Purchasers pay an
assumption fee.
The balance of t:~is assumed loan is $3x,700.00
aa~x 319 Pace 2412