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FIRST FEDERAL 5~~,~GS AND LOAN aS~i(~:~~.. Ott - i ~ ~T~ E
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MORTGAGE hIODIFICATIDri, R8L$AS8
AND AS8UMPTION AGREEMBNT 4~~~ ~ ,~D
per; Edward T. Collins
' Loan Ito. 23042474 -
~ • - - . M{~rv , F.., Col t i ns - - ~ -
gEIS AGREE~i~T i is° 8tH-` ~ ~3ay of ~eb~aFy-~-~~ ~ _ -
19 , by and . between F~~ i RAL~AV~TGS AND S TON -
- OFRT PIERCE, -hereinafter called -'the "Association" ,Wand
- • ' ' ' • • ' ~ RO T: COLLINS AND MARY ~F. ~COLLINS his wife ,
ere na ter ca Owner s -
NITNES SETH -
WHEREAS, :the Association owns and holds°• the oric~ina-l pro-
missory..note and. mortgage executed on December 1st ~ 78 ,
evidencing a principal indebtedness on sa ate o ,
which.mort9ege is recorded-in Official=Record Book ,page
- Q8 _ of ~ the public records of - St . Lucie County, - - -
F on ; and
~L+~~ - ~~iA m!+rtn~~~ts t+r~~t~~Q~ 1-~~~- 4•}±e s~e~u+i~4-inn en~ev
.....ra~~a.av, ...aa-~ ...v- -.7 v.7v r- v - aywv.. - ~w.r ~a.~.. a.v.. ...-l
dc~.iare ail of the si~I,ua seCi2ied bii said auvrtgaye tvvbc i.wucdi= -
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 - - •
WHEREAS, title to said property is being transferred and
conveyed to the Owner is) who wishes to obtain Association's con-
- sent to said transfer and agreement that the credit -of the
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
v promises contained herein and for other good and valuable con- -
~ siderations~, it is hereby agreed that~.the aforesaid documents
5: rn be modified as- follows :
ttl - -
1. The undersigned Owner (s)~ hereby expressly assumes
.:~~~,ti~ and agrees to pay the indebtedness represented by and due on
" - •y the aforesaid promissory note and mortgage and any modifica-
X'~"-~' tion or correction thereof in accordance with the terms thereof
Z a and as modified. herein. It is agreed that the unpaid' principal
a balance of said indebtedness as of February 8th 19 ~ ,
~,~i is - ~ EI(~TY EI(~T AND 64/100--------------
- „o .:an that t e interest rate on sad in~d-
~ Hess s a ----~-12.75 -per cent per annum, beginning on -
- ~:'i::~'is _,~p,;tij ~ ,and that commencing on February 10th
~ ~ Z ~ - , the Owner s)--shall pay said principal and interest
in consecut ve monthly installments of one and
• ~ ~ ~~E _ -(S 441.67 ) an a Yke sum on e
'v'v` ay o eac wont t erea ter until the entire indebted- -
ne evidenced by the aforesaid Hate and mortgage, as mo8ified
herein, is fully paid;_except that any. remaining .indebtedness,
if not sooner paid, sha~.l be- due and payable - on 'December 10th ,
2003 . _ - - _ . ,
-2. The undersigned Owner(s) hereby agrees that the afore-
said'indebtedn ss stated in Paragraph 1 above is due according
to the terms a~ 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 ~s) was the original maker -
' _ thee. _ . Ia_ ~da~tfoA;_ thg_ Owner ts) agrees to personally p~er-
~lo~ai.and.to folly abide by all the terms and conditions set -
fortbjin~said note and mortgage and this agreement. -
' ~ ~3. The ~ssociatfon recognizes the Owner ~s) as the nev
Obligor(s~ on-the subject loan, approves the credit of same and
- -
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