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FIRST 1=EDERAL SA~~~~GS AND LOAN ASSGCIA~,GN OF F4
MOR'!'GAGE MODIFICATION, RELEF,SE
_ _AND _A SSL'MPTION_AGRI:F.MENT -
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Loan No . 23055377 Fame ~ HARLES Ei_HALhAfIQ_-._ -
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__SUS{U~ H . HALL~H I $ WIFE
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THIS AGREEidENT is made this 1_ 4th - day of RCH _ _
19 $0, by and between FIRS'P FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE, hereinafter called the "Association", and _
CHARLES R: HALL AND SUSANI H HAIL • HIS 1~iLF~-_ _
hereinafter called "Owner(s)".
W I T N E S S E T H
t~'HEREAS, the Association owns and holds the original pro-
missory note and mortgage executed on 1~ne 14th ~ 1979
evidencing a principal indebtedness on said date of $ 46.400.00
which mortgage is recorded~in Official Record Book 310 page
2613 of the public records of ST. LU_C_ IE _ County ,
Florida; 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 dry part of the property or any
interest therein is sold or trar.srerred without Association's
written consent; and
W'r.EREAS, title to said Draperty is being transferred and
conveyed to the Owner(s) who kishes to ohtain Association's con-
sent to said transfer and agre~r.,ent that the credit of the
Owner{s) is satisfactory to the P.ssociation and that the interest
rate payable on the sums secured by said mortgage shall be at
a rate recuested by the ~:ssociation;
ivOk, '~~?EREFORE, ir, corsceration of the covenants and
promises con`ained herein and for other good and valuable con-
sicerations; it is hereby acreed that the aforesaid documents
be modified as follows:
1. The undersigned Owner{s) hereby expressly assumes
and agrees to pay the indebtedne=ss~ropresented by and due on -
j ti.e aforesaid promissory note and mortgage and any modifica-
tion or correction thereof in accordance with the terms thereof
i and as modified herein. It is creed that the unpaid principal
balance of said indebtedness as of 1.980 ,
i s FORTY SIX THOUSAND THREE HUNDRED TWENTY OUP R ANDO~ _
(S 4f.~~24_Z$- ) and that ~'ne ir_ _erest : ate on said ndebted-
ness shall be 13._25 per cent per annum, beginning on
d~TSh_14th -_3 1g_g0 and t::at co.~~.encing cn APRIL 10th ,
~g 80 - the Owr.er (s) shat i ; ay said principal and interest
in co::secutive r,:onthly- install::e;.ts of~~~tiNDRFD TWENTY THREE AND
4~}Q~--------__ $ 52~=48--------- and a 1 ike sum on the
cay of each r,onth ti:e~ c_after unti 1 the entire indebted-
ness evidenced by the aforesaid note and mortcage, as modified
herein, is fully paid; except ti.at any remaining indebtedness,
if not sooner -paid , shal 1 be dLe and Fayable on September 10th ,
_ _ _ 2Q08_._ _
2. The undersigned Owners) hereby agrees that the afore-
said indebtedness stated in Paracraph 1 above;is due according
to the terms and conditions of the aforesaid note end mortgage
and ar~y modification thereof without defense or offs~r grid
further agrees to be liable for said indebtedness as fully and
tq the same extent as if the Owner(s) was~the original rr,aker
the,reo~. 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 mortcage 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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