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Home My WebLink About0943 • .w-` • 2 - 4'7:36.2 - . _ ? 29031053 - ~ ~ S•asan Z.~.B~?1 ' ASSUMPTION AGRfiGMGNF or pcEUn ~Ewu anv~rw~s e.a taw ASIOCIATION d WEST PAW ~Ewtl1 - • ' alt OMwo Sfn.t W«f fM~ Med~, (Kids 33rOd ! PHIS AGRBBMBNT, made Chia day of Janua..._. 19_82., by and bawecn FIDELITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF WEbT PALM BEhGH, a oorporadon e:iating undo the laws of the Unioed States of America, and having its priadpa! place of busiaesa in the City of ~ITest Palm Bach, Florida. h~aafter called the Lender, and A• Teter ~ called the Seller; ~ Cherries M. Phillippo ~ I{athe K. Phi11i_p~o hereinafter ~xlled the Purchaser; WTI'NESSETI~: WIiEREA.S, the Lender is the owner and holder o! a certain matga,gc notes executed and deliveral by the Seller i - to the Lender, acid note being da~tod March 3 in the principal amount of s._QU_..452...._...., - secured by a ctrtaia mortgage which is rtootdcd in Official ltooorci Bool< X83._._____, page Public Records of i - Strom. 7~di0~~ County.l:!arida, encumbuing the property descrited therein. and: - - WHER.EAS, the Seller is solingg the real property deeazbed in said mortgage to the Purchaser and has aal~od the ~ Lender to oonnnt to acid sale,_ and the Purchaser has agrctd to assume said note and mortgage and has ached the Leader to consent to the P'urchaser's seaumaptioa of said note and mortgage u part of the purchase prior. and; - ~ . - ~ VVfIEREAS part of the consideration for consenting m said sale and the Purchaser's assumption of said note and - mortgage is that the Leader approve the Purchaser's credit and that the interest payable a~a said note and mortgage shall beat such rate as tha Leader shall request. - ~ NOW THEREFORE, is ooasidention on the mutual covenants contained in this-Agreement and is acid note sad mortgage, sad for other ~°Od and valuable oonsiderationa, the receipt of which arc hereby acknowledged by the Lender, it is mutually agreed~r~,q~~a~n tht parties hereto ufollows: - _ 1. That the unpaid balance of the mortgage note assumed by the Purd~aser is ;..__.28,~.$~ u of January 4 , 19_$2. - - - - . 2. -'That the credit of the Airchasa~ is aatisfacDory oo the Lender. - 3. That (a) the interest raft iu said original. reefers rhangcd to - ~~?79~:__-___-_--per -ant per annum, and the monthly payments of priaripal sad interest in acid original none are changed to =_..3_~5._~?_5-__-._--- far month, beginning __.__FEli~ary.."1._, 19_~ and (b) that flu; Purchaser herdiy assumes said mortgage and shall perform each and -all of the c3veoaats, agreements and obligations in afonaaid original none and awrtgage as modified b}' this Agrament. - 4. -That all terms, oovenanta and conditions in aforesaid original note ud mortgage which are not inoosuiattnt with this Agreement. are: hereby expctasly ntitiod and declared to be in full force and effect. - f. Lender agrees ou rcleaae the Seller, $ar~-OII_ A. Te#~r ~ _ - -r----- and - - ~ - _ individually, from ail obligations under aforesaid note and mortgage, and said pasoa(sj ie/are hereby released from all personal liability for the psymeat of said above desrnbed note + in consideration of the agreement by the Purchaser ~ assume and agree to pay and perform each and every obligation under said nett sad mortgage u modified by this Agreement. 6. The Seller and Purchaser warrant and represent to the Lender that the lieu of acid mortgage, as modified by this Agreement, is a first lien upon the property dcacnbod therein- and that then is no seooad mortgage or other subsequent. lien, right, or claim of Iien, outstanding against the property desrnbed is the acid mortgage. In the event that-there is any _ such judgment of lien, right; tide or.interest against or in said property in favor of nay party or parties not a- party hereto u of the effective daft of this Agreement, or in the event that iherc-has bcen-some intervening interest which affects the validity or priority of said mortgage, or is-the event thatthe awrtgaged property has not bees duly conveged by the Seller to the Fur- - chaser u of the-date of tLis Agmmmeat. then t.'ie release of the Seller and of the individual(s) above-stipulated shall be of no-force or effect. 7. Tbat it- is net iateaded that thin Agreement constitute the creation of a new debt, nor the eatiaguishi<etnt of the debt evideaoDd by acid acre sad mortgage, nor does it in anywise affect or impair the lien of said mortgage, which lien is - valid and aisting fneat lien on the property deacnbed in said mortgage. - - - - ~ _ 8. TLat this Agreement shat[ be binding upon and shall inure to the tcncfita of the heirs, ezecutora, adminis- trators, successes and asrig= s of the respedive parties hereto- - 9. rThe Seller >iermby authorizes the Lender to give tae Purchaser credit for any escrow balance which n•.ight be held by the Lender. ~ ~ 1Q. The Purchaser agrees W pay the costs of the recording of this Agreement and any doaunentary slam ~ Ps• ; intan~blc tsar or other aatd partining to the recording of the Agreement. - - ~ 11. The use of the arms-"Purchaser" and "Se11er" u used it::,:ccy instance ahaU denote the singular and/or plural and the mzacufine and/or feminine and/or neuter whenever and wherever the context so re.~uirra or admits. IN WITNESS WIiEREOF this instrument bas been executed by the parties hereto in manner and form sufficien4 i co bind them, a9 of the day and year first abo~;e written. - - ~ ~ FLA. DOC. STAMPS PAIfl ON C-OMFAN(ON ASSUMPTION - _ RECORDED IN O. R. BK. PAGE IN ThtE AMOVyY- 543.50. _ .s RECORO~ OED, t LL'}.~'.~L i arx~~ PaGSz