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2. Grantees, jc~Intly and severally, hereby assume and agree to ~y E
the entire unpaid principal baiaiue of the Notes together with
' • • Interest thereon from the date of assumption (which date shall
mean the date on which the deed f corn Mortgagor to Grantee Is .
recorded), accucding to aU the provisions of the Note; provided; _ -
-however, that t~^e provisions of the [dote which Grantees assume -
- ~ .and agree to pay shall beard hecebY are modified as follows:
(a) Beginning-an the date of assumption, the interest rate shall ~
be r:; ne ~d seven-~ia~Iiths _
- - cent pec annum; _ - _ .
. ,
- (b) -Beginning with the first monthly installment due following - - - i
_ file date of assumption, the monthly Inst..1:.^:;r::;s shall be _
. _ fihr+se hi~n®rea nx~ety_ and 3~/ia0 _ ~ -
- - .acs 3 ~
- 3. Gratntees further agree to keep and perform.. al! i~.8„w'1tS a:.d -
- - corxlitier~s on the t of the Mortgagors to be kept and "
- performed, cording to the provisiorg of the h:.•ctgage, with the ti
same effect as though G~attierS hay; been joint ma4s~-rs a# the
- Note a~1d joint Mortgagors ~f the Mortgage; provided, however,
_ that the rate c# interest on the unpaid. principal balance of the
_ Note -and the monthly Installment shall be as provided for herein.
k. ;dortgagee svai:~s its right to accelarate the indebtednees evi- . _
- deuced by the Note arising out of said conveyance from Mort-
- gagors to Grantees, anti its. ' right to payment in full of said
_ f indebte~iess at this tuna
5. Mortgagors are hereby released from any and ail liability evi-
dencEd by the Note ar~d the Mortgage. -
5. This Agreement, shall iiat : ba c.:,nstrc~ed as obtigat,•.~ t ~ !.~Ixt-
agee to waive its right of acceleration of -the indebtedness _
sec;a-ed ti; the lUlcxtgage r a future cnnnvevance of the
premises described in the Mortgage by the Grantees.
7. This regiment is deemed to be ~
Ag ;Wade in the State of Flaic~, ~
- ,and shall be In~rpreted and construed in accordance with the
laws of that state. F
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