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FIRST FEDERAL ~.~Yh~GS ~ A~fAj ~.aaH.c~:~A ~-,JN qF FORT PIERCE
MORTGAGE MODIFICATION, RELEASE y~~,~
AND ASSUMPTION AGREEMENT 4~~ vat ~ .
Loan No. 23040908 Name: s ~.EARly~NE~ ANDREWS, a single adult
THIS AGREEMENT is made this tlay of Apri 1 ,
19 g~, by and between FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE, hereinafter called the "Association", and
- • - - = ~ ~ ~ ~ ` ~ EARLINE ANDREWS, A SINGLE ADULT> - ,
hereina ter ca "Owner s -
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W I T N E S S E T H :
WHEREAS,~the Association owns and holds the original pro-
missory. note and mortgage executed on November 3rd ~ 78 ,
evidencing a principal indebtedness on sai ate o ~ ,
- which. mortgage is recorded ~ in Official- Record Book 297 , page
of the public records of ST. LUCIE_ County, -
F~a; and
WBEREAS, 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 any part of the property or any
interest therein is sold or transferred without Association'-s
written consent; and -
WHEREAS, title to said property is being transferred and
conveyed to the Owner (s) who wishes to' obtain Association's con-
sent to said transfer and agreement that the credit of the
~s Owner (s) is satisfactory to the Association and that the inter-est
rate payable on the sums secured•by said mortgage shall be at
a rate re uested b the Association;
~;D 9 Y
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NOW, THEREFORE, in consideration of the covenants -and
promises contained herein and for other good and valuable con-
. _ ~ ~ siderations , it is hereby a_ greed that_.the aforesaid .documents
be modified as follows : =
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'j 1. The undersigned Owner(s) hereby expressly assumes
`-f- and agrees to pay the indebtedness represented by and due on
the aforesaid promissory note and mortgage and any modifica-
tion or correction thereof in accordance with the terms thereof
and as modified herein. It is-agreed that the unpaid principal
balance of said indebtedness as of Apr71 _ _ __9th 1980 ,
is _ THIRTEEN THOUSAND SEVEN HUNDRED SIXT~f -------------a'"""
(S 13,765.34--------) and that the interest rate on said indebted-
ness shall be 13.25 per cent per annum, beginning on
i 1 ~ 9th ~ 0 and that commencing on _ Agri 1 10th
14'80 the Owner s)-shall pay said principal and interest
in consecutive monthly installments ofD~tE~fiY SIx AND
02 __($166.02 an alike sum on the -
10th y o each-wont t erea ter until the entire indebted-
ness evidenced by the aforesaid note and mortgage, as modified
herein, is fully paid; except that any remaining indebtedness,
if not_ sooner.. paid, shall be due and payable o_ n November-10th
1998 ` ~ - -
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2. The undersigned Owner(s) hereby'agrees that the afore-
saia'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~tbe same extent as if the Owner(s) was the original maker
thereon. _ - In _ ~daiition,,, thg_ Owner (s) agrees to personally per-
- ~ r form~.and. to fully abide by all the terms and conditions set -
. foith'in•~said note and mortgage and this agreement.
~a - -
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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go~331 P~27~1 - ,