HomeMy WebLinkAbout2762 1: - "`~`"'t ~•~~'s'- ! Thts Instrument was prepared by: ~
_ 'i '
~ • a~ _y _ ~ ARLENE 13O>IIFRONI
• d~~~6'7
Re-Record ,
fiODiFiCATION, RELEASE, AND ASSUMPTION AGREEMENT -
LOAN N 6917 DATE: July 1, 1979
i
The parties to this agreement are THE WILLIAMSBURGH SAVINGS BANK
, hereinafter tailed "Lender"
and an , . s w fe
hereinafter tailed "New Obligor s
wri~n~n°s, i1H .Ti;: C . STFTZER d
hereinafter referred to as "Original Obligor s " executed a promissory note or assump-
tion thereof on the 10th day of June 193, evidencing a
principal ind~btedress of Twent Six Thousand Tw
° Dol cars $ 2 ,200.00 secured by a mortgage upon .real
L property said nortyage being rece,rded in the i'ubl is Records of fit. Lucie
~ County under Clerk's File Number 411900 and
~
V L
3 ~ WHEREAS, said Original Obligor(s) are conveying the property to said
~ a mortgage to the New Obligor(s), and
U C
W a v WHEREAS, paragraph 17 of said mortgage states that the Lender may accelerate
~
o the balance due secured by said mortgage upon said conveyance unless the Lender and
" ~ the erson s) to whom the sub'ect
p ( ~ property is conveyed reach agreement in writing
''t that the credit of such person(s) is satisfactory to Lender and that the interest
G ~ payable on the sums secured by the mortgage shall be at a rate acceptable to the Lender
c and
v
L r
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
L ~ WHEREAS the
s - , parties have reached such an agreement and wish to reduce same
~ to writing; - .
c
~ ~ -
NOW THEREFORE, in consideration of the mutual promises and covenants
•J~ ~ ~ contained herein the parties agree as follows:
o ~
r,
~•s a 1. The undersigned New Obligor(s) hereby expressly assume anc+ agree to
J ~ ~ pay the indebtedness represented by the aforementioned promissory note which
~ i ndebtedness i s now the sum of Twent Six Thousand Tw" - -
• ~ Dol 1 ars 2 , 012.15 due according to the terms. ar'd
conditions of the aforementioned note and mortgage without defense or offset and agree
o° :c• be-Jiable therefore as fully and to the same extent as if the original maker or
Origir.-~l 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
ti':~~ afo~es;. i d note and mortgage.
2. The provisions of said note and mortgage are hereby expressly reaffirn•.ed
except as follows:
(a) Interest on the subject obligation shall henceforth accrue to the
Lender at the rate of Nine and Seven Eighthspercent (9.875 per annum,
effective July 1, 1
(b) The regular an~rtizing monthly payment due in accordance with the
terms of the aforementioned note shall henceforth be in the sum of Two Hundred Twenty
Eight and 61/100- -------.---.-.~.--pQ??;,;-;; (y 228.61 ] due arui payauie on the
sar,~c: day o; each and every month as called for by the subject promissory note,
effective Aug 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
cr 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 reaffir~red by the New Gbligor(s).
~ = Sz . o
``'j RECEIYEO ~ PAYt~EiR OF TAXES
DUE ON CLASS 'C'INTAM6tH;E PLRS~NAt PRCAEZTr,
~ • 1)X~ C~ PUN$l1ANr r0 CNAPTEd 71-134 ACTS OF 1971.
~ i:,J~+X•J~V i'aGE~~ ROZE~i Poirlus
aE~ aaa~ cawT, ar. wc:E co, Fu~
a~~x3~9 P~E~~~9 .