HomeMy WebLinkAbout1528 FIRST FEDERAL SAS'' ~S AND LOAN ASSOCI; ,~JN QF FORT _PIERCE
MORTGAGE MODIFICATION, RELEASE
AND ASSUMPTION~AGREEMENT 4~
Loan No. 23058140 Name : Larry Auerbach o v
Bobbie M. Auerbach. hi wi a
THIS AGREEMENT is made this 30th day of May ,
19 80, by and between FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION -
OF FORT PIERCE, hereinafter called the "Association", and
i ~rrx.~uerbach.._.. _._._~t1SLBOhblE M- A~r_harh •
hereinafter called "Owner (s) " .
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 Ju~.v 30 1979
evidencing a principal indebtedness on said date of $ 3 .000.00
which mortgage is recorded in Official Record Book 313 , page
1865 of the public records of St. Lucie County,
Flora a; and
H'HEREAS, said mortgage provides that the Association may
declare all of t??e sums secured by said mortgage to be immedi-
ately due and payable if all or any part of the property or any -
interest thLrein is sold or transferred without Association's
written consent; and
M'1~EREAS, 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
Owner(s) is satisfactory to the Association and that the interest
rate payable on the sums secured by said mortgage shall be at
a rate requested, by the Association; _
- -
NOk, 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 follows:
~ _ ~ t
1. The undersigned Owner(s) hereby expressly assumes
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 May 30 1980
is Thirty Seven Thousand Nine Hundred Eleven and 48/100--------=----------- -
- - ,
31.911.48-------) and that the interest rate on said indebted-
. -
ness shall be 12.0 per cent per annum, beginning on
19 and that commencing on dune 10
1g the Owner s) shall pay said principal and interest `
in consecutive monthly installments of Three Hundred Ninety two_
~~7 _ ___________~(S392.17 and a ike sum on the {
# ~Oth aywo each month thereafter until the entire indebted-
ness evidenced by the aforesaid note. and mortgage, as awdified
5 herein, is fully paid; except that any remaining indebtedness,
i f not. sooner paid , shall be due and .payable on October 10,
1Qt 2008 _ - -
s
2. The undersigned Owner(s) hereby agrees that the afore-
said~indebtedness stated in Paragraph 1 above is due accordinq
to the terms and conditions of the aforesaid note and swrtgage
and any modification thereof without defense or offset a~ -
further agrees to be liable for said indebtedness as fully and
to the same extent as if the O?~mer (s) vas the original ~aaker
thereon. In addition,_th~ Owner(s) agrees to personally per- -
fora, ~-fully abide by all the tenas and conditions set
for ix~.~~ ~ ~ •~,note rnd aoxtgage and this agreement.
`j~`Pf~ ~,aasa~d ~~Z _
_ i
's ~`t~c, - • - ~ sociation recognises the Owner (s) as the new
.
~?~goY~g~ . _ - subject loan, approves the credit of same and
. rya
~f~~ 33~ ~~E 152s s