HomeMy WebLinkAbout1303 ASSUMPTION OF INDEBTEDNESS ~l'=ih713 ~
1Ah hereby acknorMedga that we have purchased grtsin property described as follows:
The East 136.5 Ft. of the NW } of the NE } of the SE} and also the South
30 Ft. of the North 330 Ft. of the West 523.5 ft. of the said NW} of
the NE} of the SE}, said 30 Ft. being reserved as a right of way for
ingress and egress to the said East 136.5 ft. all of said lands lying and
-being in Section 9, Township 36 South, Range 40 East, St. Lucie County,
Florida
. 1980 MAY I S Phi ~ 32
sT'~~o
A.
tLER!( CKtWIT CRC~U.tT
RI'fWM1YtRIFfEfl___
Assuming Balance of 11/7/79 of $ 30,159.12 ~~s'f1a3 _
and further acknowledge that, ss pert of tM purchase prig of said property, vw haw sswrtlad the indebtedness in tM form of a note payable
to rite order of First National Bank of Fort Pierce
sewrod
AME
by a (duck one) ? security agre~rnent mortgage ? other- 1
on the Property noted above, dated 8 2 78 , end which is carried on tM books of the bank as Losn No. 2 6-0016-5
We hereby agree that the above described mortgage shell include ell sfterioquirod property end shall securo, in addition to the note or
obligation above described, any additional loans or future advances made within the term of this assumption of mortgage loan to said
mortgagors or any wocessor in title of said mortgagors of the property hereby conveyed.
SECURITY AND SETOFF: Loan is securod by a lien on property above desaibad, together with all appliances; end items now or here-
after attached to or placed on the property and normally considered aocretiorn thereto. The bank is given the right of setoff against all .
deposits, credits, and other property of the borrowers in the possession or control of tM bank, for irtrlebtedrtsss, though unmiturod.
LATE PAYMENT AND DEFAULT: Mort~es: Borrowers are subject to a late charge not to exiled 5~c of any instsllrrlent unpaid for
10 days after the date due with a minimum charge ss may bs rsasorulbly imposed from time to time.
Other senoed loans: Borrowers ere. wbjact to a bte charge computed st file rote of 5.05 per 51.00 on each installment in default for a
period in excess of 10 days. No such charge to exceed 55.00.- The borrower of arty loan is required to pay the bank ell vests of collection
including a reasonable attorney's fee if referred for collection or foreclosure.
PREPAYMENT: Borrowers may at any time in full an unpaid balance tp~nslty. rod' that the eredito retain a
minimum finpnce charge of UU t[je borrower s`ha~yl receive a
rebate o precomput tares compu un r u e of S
I n the event of wrianee between the above details and the loan documents, said documents will prevail.
We further acknowledge that vre haw made application to said bank, which has been accepted by it, and in consideration of such scrip-
tance, we hereby assume end agree to pay the said obligation to the bank and acknowledge that we hold said property subject to said lien and
( that vve will make the prescribed monthly payments thereon to the bank, and will perform all other requirements in accordance with the
{ terms of said note end (duck coal ? security agroement}{~~ mortgage ? other 1.
This agreement applies to, inures to the benefit of and binds all parties hereto and their respective heirs, legatees, deviseas personal re-
Presentatives, successors and assigns.
f
I IN WITNESS WHEREOF, vve haw hereunto set our harxis and seals this ? day ofNOVE'.I11b@ Y ~ , 197, and acknowledge that i
we haw received a completed copy of this aswmption agreement on said date. i
t
i In of:
~ ~
(SEALI
' i~ ? ~
~ ~ ! AS TO ASSUMING PARTIES
Katherine J ~ I Donovan, his wife
-
As sellers of the abovee described property vve hereby acknowledge and agree that after this assumption we shall continue to remain ob-
ligated to pay the above described loan according to all its terms and conditions as existed on the date when we became obligated thereon,
r ass of this assumption or an teration a charge in the terms or conditions of said loan required by the Bank for this assumption.
~ e W . Da~€gL ~ PAR
AS TO SELLING PARTIES NG T
;Janice H. D~a~`"s~ , ~ivife
SLATE OF FLORIDA
COUNTY OF
Before mepersonallYappeared Charles R. O y van Katherine .O'Donovan R er W,
~ DavisJr, ~ Janice H. Davis to me wellkn
io rrts to be individuals described in and who executed the foregairg
` '
instrument as aswming party and acknowledged beipt~dite~ ilt~~rtad the same for the purpose therein e.;prasted.
WITNESS hand and offi i 7 ' .
f`+,. r~~''~ 79 _ .
my c sl seal this ~ , 19
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y
w - ~ ~"T
.n'~{)~~ NOTARY PUIIIC S1rA1T Uf iIORIDA Ai U?flGl
f f~ ~ ~ , = ~ Mr u>rMUwlssloN FX/IRB w?Y. to IfiN
~ ~ ~ rOIdOED TFfW GEa~M tNS . Ud,ER1AlR1TERS
~ t BS St0 REV. 3/76 rR. 4/77 -•Sr~`(;~'~ ;
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