HomeMy WebLinkAbout1305 ASSUMPTION OF INDEBTEDNESS ~fQq ~ ~7 ~ ~
We hereby acknowledge that we haw purchased certain property described as follows~
Lots 12,13, and 14, Block 2, of M. K. Moore's Subdivision as,per
plat thereof recorded in Plat Book 3, at page 11 of the public records
' of St. Lucie County, Florida . ~
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Assuming Balance "a s of 9/17/79 of $16, 852.05
4~~6'715
and further acknowledge that, ss part of the purchase price of said property, ws haw aswmed tM indebtedness in tha form of s note payable
to the order of First National Bank of Fort Pierce
BANK NAME
by a (check one) D security agreement ~rnortgags O other - j
on the property noted above, dated 8~30~77 ,and whidt is carried on the books of the bank ss loan No. 24-30 .
Ws hereby agree that .the show described mortgage shall include all after-acquired property and shall secure, in addition to the note or
obligation above described, any additional loans or future advances made within the temp of this assumption of mortgage loan to said
mortgagors or any wccessa in title of said mortgagors of the property hereby conveyed.
SECURITY AND SETOFF: Loan is secured by a lien on property above described, together with all appliances; and items now or here-
after attxhed to or placed on the property and normally considered accretioru thereto. The bank is given the right of setoff against all
deposiu, aediu, and other property of the borrowers in the possession or control of the bank, for indebtedness, though unmaturad.
LATE PAYMENT AND DEFAULT: Mortdaaes: Borrowers are subject to a late charge not to exceed rJ76 of any installment unpaid for
10 days after the date due with a minimum charge as may be reasonably imposed from tuna to time.
Other secured lovns~ 8orrowen are subject to a late charge computed at the rate of 5.05 per S1.00 on each installment in default for a
period in excess of 10 days. No such charge to exceed S5.00. The borrower of any loan is required to pay the bank all costs of collection
includir?g a reasonable attorney's fee if referred for collection or foreclosure.
PREPAYMENT: Borrowers may at any time prepay in full any unpaid balance without penalty. Provided that the creditor may retain a
minimum finance charge of S ~5 n0, and the }~o~r er sha.l l r eive a rebate of pre-
~o
n>~ute~3 j.nteros t ~ computed under ~~ie Rule of s .
n t vent o variance between the above details and the loan docurr?ents, said documents wiFl prevail.
We further acknowledge that we have made application to said bank, which has been accepted by it, and in consideration of such accep-
tance, we hereby assume aril agree to pay the said obligation to the bank and acknowledge that we hold said property subject to said lien and
that we will make ;he prescribed monthly payments thereo~ the bank, and will perform all other requirements in accordance with the
terms of said note and {check one) ? security agreement mortgage ? other
This reement applies to, inures to the benefit of and binds all parties hereto and their r
a9 espective heirs, legates:, devisees personal re-
f presentative:, successors and assigns.
IN WITNESS ~YNER.OF, we have heraunto set our hands and seals this 17 day. of Sept. , t9 79, and acknowledge that
we have received a com~:ased copy of this assumption agreement on said date. "
~ In p nce of:
(SEAL)
/ C~ JO Of» MINGO~RTY
J ~ AS TO ASSUMING PARTIES ~'L~8 ISEAL) ~
ASSUMING PARTY
As sellers of the above described ro rt we her a k h f ? hi auu tion sh II
P Pe Y eby c nowledge and agree t at a to t s mp we . a continue to remain ob-
ligated to pay the above described loan according to all i:s terms and conditions as existed on the date when we became obligated thereon,
r lass of this assumption or any alteration or change in the terms or conditions of said loan required t>)r the ilari. for this sssumptian.
X
tb R,OLIN ARTY
~ % ,
~~tr~9 _
y AS TO SELLING PARTIF_S SELLING AR Y
Edea L. Moore
STATE OF FLORIDA
i COUNTY OF 1~
~x
~ Before me personally appeared ~r%~r ~~~~~iC.,
to me rn~ell kno~nrn and known to me to be individuals described in @tid.wholxacuted'tnedD?{~in9
4-ir
instrument as assuming party and acknowledyed be/fo~re me that they executed the same for the purpose thereiri_ e~t~s
rid. ~ ` 'V
WITNESS my hand and official seat this_~Lday of _-.LL./ , tg~~ y c; j~ ,.War -
r - -
Notary Public'- _ ~ j ~
• My Commission p es. Ota?yPUbIiC,Florida .'J ,is~~~~`•~`a'~ ~`i~,
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COfllliljulpn Expi .
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~ ~ .'S 590 NEV. 3/76 PR. 4/77 gp{~ PAGEIJUJ -
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