HomeMy WebLinkAbout2553 •
•
.
This wt:te~xttertt prepared by:
4~ii984
AnteriFSrq Federal f3tiild'r ~
:EF~iort~ea~,"3 . ' g 5• ~5 i
MODIFICATION, RELEASE AND ASSUMPTION A~iREEMENT
e_OAN * 45-098147-835 cafe February 6, 1980
Ttte parries b this agreement are AMERIFIRST FEDERAL SAVINGS ANO LOAN ASSOCIATION. brmarly krtorKt as FIRST FEDERAL SAVINGS
AND LOAN ASSOCUTION OF MIAMI, hereinaRer cabled `Association" and DO~,D A. br AEVBRLY B. JENSEN
hereinafter calved "New Obigor(s)'.
WHEREAS. ROBERT M. GEER y
her ' referred b as'Orginal Obkgor(s>' executed a promissory note or assumption thereof on the 18th ~ oof~ Ma
is . evidencirq a principal indebtedness a ONE HUNDRED TWBNTY FIVE TI~USAND AND I~D/ z
Dorars (i 125 ,000.00 ) by a mortgage upon real
property said mortgage being``¢in the Public Records of St. Lucie under CMrk's !
File Number 4 .and Official Records Book 2a9 Page(s) -2 .and
WHEREAS. said Original Obkgor(s) is oortveying the property subject b said mortgage b the New Obligor(s). and i
s
WHEREAS. paragraph 17 d said mortgage states that the Association may accelerate the balance due secured by said nwrtgage upon said
conveyance unless the Associatan and the person(s) b whom the subject property is conveyed reach agreement in writing that the credit d such person(s) is
satistatdory ti the Assocation arb that the interest payable on the sums secured by the mortgage shah be at a rate acceptable b the Association and
WHEREAS. to the event such an accord iS reached, the Association is then requred b release the Original ObMgor from ail obligations under the
mortgage and note. and
WHEREAS. ltte parties have reached such an agreement and wish to reduce same b wntNtg.
NOW THEREFORE in consideration of the mutual promises and covenants contained herein the parties agree as follows: -
The undersgred New Obligor(s) Hereby expressly assume and agrees to pay the indebtedness represented by the abrementiorted promissory
emote which indebtedness is now the sum of ONB HUNDRED TWENTY THREE THOU ~p F0~ RUNDRED SEVENTY AND
55/100-----------------=----------------------- Dollars (S 12,470. * )due accordirg b the tents f
and COndttiorts of Ute atoremenliorted note and mortgage wdhoul defense or offset and agree b be fable Ihetetore as tuMy and b the same extent 85 if the
original maker(s) a Oblgais) thereon. In addiion ttte undersigned New Obligor(s) agrees b personary perform and b fury abide by ar d the tents and
conditions set forth in the atoresa~d note and mortgage.
2. The provisgns of anti hole and mortgage are hereby expressly reaffirmed except as to the amount d the abrementtorted pretcipal balance and
except as brows: i
(a) Interest on the subject obligation shall henceforth accrue to the Association
at the rate of TWELVE AND ONE HALF PERCENT (12.5x) per anntmm, effective the
month following your closing.
(b) the regular amortizing monthly payment due in accordance with the terms of the
aforementioned note shall henceforth be in the sum of ONE TI~USArID THREE HUPIDRED
1SiENTY NINE AND 77/100 ($1329.77) due and payable on the same day of each and
every month as called for by the subject promissory note, effective the month
following your closing.
48194
~ ~ I ~ r ~ r L' ' _ _ ` . ~ 1980 APR -7 AID i~ 5 ~
~ . , ` • ~ , r ~ ` fiIEC AMC f tsildiR Y
- . s I ~J. L ; 5TftL~ERI!'OW~TRA~A.
~ - ~ _ _ _ _ - ~ OLERlIt CfllCtliT tWNIT
*Balance after application of Feb payment.
3. The Assouat~ort recogrnzes the New'Jblgor(s) as the Obligor(s) on the subject loan, approves the uedd of same, and hereby releases the
Original Obligor(s) from further obligation or habdity under the mortgage or note referred to above.
4. Except a : specdKary desgnated hereof. nothing here shall constitute a change or amendment to the aforementioned promissory note and
mortgage the prov~siorts of wbctt are specif~calty reaffirmed by the New Obligor(s)
5- This agreement is binding pon the heirs. and assgns of ttte parties.
IT .SSES as/`to go (s? , NEW OBLIGOR(SI
_ V (1' _ G~ _ _
~ Donald A. Jena
~
t _ - ~
STATE OF l $awelly B. Jean -
(
s ~ ,az
i r
s+s ti
~ .r~ .
( COUNTY OF 1l : ,i>~, t~ ~ ~
~ . ~,rREBY CERTIFY. t on this / d day of . is bre me personary cants Sys ~ r~'~
_ ~ , ~ _
~ ro me known to be the individuals described in and who executed the foregoing meet. and t acknowledged before tft1~[f!x ittr _
~ the purpose therein expressed.
e.
i WITNESS my hand ~A ~~~t Q ~ said County and Stale and year wntt e,~,~ .
r ~ ~ ~
i,ity,Commsston fittpbes a~a . ~ . ~tcw',,15. _ _ rJ Notary Pubic
. ~~lo i s - Y
A FIRST FEDERAL SAViNiiS AND LOAN ASSOCIA ~
Attest ~ BY=
f Assistant Sekxetary AssislaM Vice President
Legal : Lot or U-1106 Hutchison Island Club 254-2128 LS 27, Rev ,a7s
~ o1t~