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f~•ST ~E~ERAL S~Vit~c~S ANti ~ ~ ;A~ •.f~ _~N- 4F FORT _~~r~~.~ ~ ~t
• ?.EASE ~v I 1 1
2•~Onl'GAGE MOD ATIO~ , - ~
- AND ASSUMP'I'IOh _ AGREE~iEhT
Lcan No. 23035908 T~a:me• - ROBERT J. AfiLQUIST and
- _ ~ - _ YYONNE D. AHLQUIST! #+is wife
• .THIS AGRt.Ei~£NT is Trade this 14th ~ day of _ _ May T • 5•a~ }
b and between FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION a
1.9 "80 , Y _ '
OF FORT PIERCE, hereinafter called the "Association", and
- - - - AHLOUIST_AND-yynNNF D AH~ItT H S . ~
hereinafter called "Owner (s) -
In' I T N E S S E T A :
y~~i£REAS, ~ the Association owns and holds the original pro-
missory note and mortgage executed on August_ 16th 1.9 78 _
- evidencing a principal indebtedness an said date of $ ,
which-mortgage is recorded in Official-Record Book 2 , page
of the public records of St. Lucie - County, _
Florida; and
' H~-IEREAS, said mortgage provides that the Association may
{ declare all of the sums secured by said mortcage to be in~-nedi-
ately due and pa:•able if all or any part of the property or any -
interest therein is sold or transferred without Association's -
written consent; and
inTtiEREAS, title to said property is being transferred and
conveyed to the Owner(s) who wishes to obtain Association's con-
e 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 t1~e sums secured by said mortgage shall be at
a rate requested by-the Association; -
NOW, THEREFORE, in consideration of the covenants and _ _ ±
promises contained herein and for other good and valuable con-
siderations, it is hereby agreed that_the aforesaid documents
be modified as follo~.s: _
1. The undersigned Owner(s) hereby expressly assu~:~es
and agrees to pay the indebtedness represented by and due on -
the aforesaid promissory note and mortgage and any modifica- _
Lion or correction 'thereoft ~ ~ge~rdance with the terms thereof
and as modified herein. It is agreed trat the unpaid principal
{ balance .of said indebtedness as of May 14th 1980 ,
~ is SIXTEEN THOUSAND SEVEN HUNDRED FIVE AND
O~TIO~= _
16,.~(l5.03------) and that the interest rate on said indebted-
' Hess shall be 13.50__ per cent per annum, beginning on
! May' 14th , _7g 80 and t}-,at co.-~mencing on June 10th .
9~ f~0 , the O~.~ner (s) sY,all pay said principal and interest
'in consecutive monthly install,: ents of ONE HUNDRED NINETY SIX AND 50/100---
_ _ ____________{S 196.50----------) and a like sum on the
- 10th ay o each month thereafter until the entire indebted-
ness evidenced by the aforesaid note and mortcaoe, as modified
herein, is fully paid; except that any rerr:aining indebtedness,
if not; sooner paid, s}-.a11 be due and payable on September 10th
q - 2. The undersigned Ok-ner (s) hereby agrees that the afore-
said-'indebtedness stated in Paragraph 1 above is due according
to the-terms and 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
s thereon. In - addition,_ the_ Owner (s) agrees to personally per- - -
` form and to fully abide by all the terms and conditions set -
fort2i'in•said note and mortgage 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
i ~ Bf~OK ~
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