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l:IRST FEDERAL SWINGS. AND LOAN ~Ct~TION ~ RT}_ CE
ASS .
• MORTGAGE MODIFICATION, RELEASE
AND ASSUMPTION AG~~EEMENT -
Loan No . O1-23058785 Name - ~ ~ ~ ` ^ ' ~ ~ ` x ` '
Anne, E.~ Abood_ • . ,Y~,
_ _
THIS AGREEMENT is made this 32st - day of
19~, by and between FIRST FEDERAL SAVINGS AND LOAN ASS CIATION
OF FORT PIERCE, hereinafter called the "Association", and
- ANNE E. AQOOD a sin le adult
hereinafter ca a Owner s
W I T N E. S S E T H
WHEREAS, the As~,e,~Zt~i~,i~ owns and holds the -original pro-
' missory note and mortgage executed on Au ust 3rd 79 ,
~~evidencing a principal indebtedness on sai ate o ,
~ ate--- which. mortgage is recorded in Official Record Book 3 , page
~ ' ~ ~ + rn e~F i.~•e ..•.1.1 ~ r• rsi+~r.ie. Ca ~ ....i.. f'•i.•.-i..
~ va way. .aui.a.~. ac~.~a~.•a va
Y • Y~. ~ ataa ,
~F orida; and -
~ ~ WHEREAS, said mortgage provides that the Association may
declare all of the sums secured by said mortgage to be immedi-
~ ately due and payable if all or any part of the, property or any
- ~ interest therein is sold or transferred without Association's
written consent; and -
c~
~ o
~ ~ WHEREAS, title to said property is being transferred and
c ~ conveyed to the Owner(s) who wishes to obtain Association's con-
3 ~ sent to said transfer and agreement that the credit of the
c ~ Owner(s) is satisfactory to the Association and that the interest
rate payable on the sums secured by said mortgage shall be at
a rate requested by the Association;
NOW, THEREFORE, in consideration of the covenants and
promises contained. herein and for other good and valuable con-
siderations, it is hereby agreed that the aforesaid documents
be modified as follows
1. The undersigned Owner(s) hereby expressly assumes
-V-~ and agrees to-pay the indebtedness represented by and due on -
- the aforesaid promissory note and mortgage and any modifica-
tion or correction thereof in accordance with the terms thereof
and as modified herein. It is agreed that the unpaid principal
~ balance of said indebtedness as of IcBO
~ is FORTY TNREE THOUSAND NINE HUNDRED FOURTEEN AND ,
~ 4,,914.98-------) and that the interest rate -on said indebted-
_ Hess shall be - 12,75 per cent per annum, beginning on
~ .lanuarx 1980 and that commencing on ~ -
- - 19' 80 , the Owner~N) shall pay said principal an interest
- ~ in consecutive monthly installments of F IR N INDRFD S VENTY NIN AND
351100----------------(5479.35----------- ) and a like sum on the
= 10th day o each month thereafter until the entire indebted-
Hess evidenced by the aforesaid note and mortgage, as modified
- ~ herein, is fully paid; except that any remaining indebtedness,
if not sooner paid, shall be due and payable on August 10th
- 2008 '
,
~ 2. The undersigned Owner(s) hereby agrees that the afore-
said indebtedness stated in Paragraph 1 above is due according
to the terms and conditions of the aforesaid note and mortgage
and any modification thereof without defense or offset and
further agrees to be liable for said indebtedness as fully and
- - to the same extent as if the Owner() was the original maker
thereon. In addition, the Owner(s) agrees to personally per-
. form and to fully abide by all the terms and conditions set -
forth in said note and mortgage and this agreement.
3. The Association recognizes the Owner(s) as the new
Obligor(s) on the subject loan, approves the credit of same and
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