HomeMy WebLinkAbout1501 ASSUMPTION OF INDEBTEDNES ~
(lnduding Disdoeura Required ey Federal ~~~Z
Rearw Regulation Z -Truth to Lending Act)
WE, tM assuming parties, hereby acknowledge that we haw purchased certain property described as follows: (give k•gal dasaiption) O
• t,!)
s i
C;
~
Unit Weeks 14 and 15 in Condominium D-8, consisting ;.~:~I Ill
of apartment numbered D-8, respectively, and its
undivided share of the common elements of Turtle Reef 't!
•.:i-'
Condominium I , as such i s described i n the Master Form ' ~
Deed as recorded in Official Records Book 263, Page 2002. ~..~.~'=4
Sa -
ti
1°• ,
l~f e0
R~°'tl'FO j • IN PAYY..~IT CF TAXES - '
G"..: ~ CL ttiC.:C~2lE Pit'S~"~l PfiOPE~.TY, ; tttl
' 16:.~_,.ai•TJ ~H..?IF:i 71-I.'4, ACTS OF 1571, ' ~
E,~
CL:RK C12GItR COURT. $T. t~11GE CO,. EiA.~~ t :
~ - , , ,
end further acknowledge that, ss rt of tM purchap prig of aid property, we haw assumed and agreed to pay tM indebtedness in tM form of a noes
payable to the order of T 1CRTLE REEF ASSOCIATES, INC _ Ithe •'Bank••)
secured by a Mortgage dated October 8 a 1977 , 19 ,and recorded on ,
19 in Official Records Book at Page of tM Public Records of County,
Florida, on tM property described chow, and which a carried on the books of the Bank a Losn No. .
Details of aswmed loan:
1. Present Unpaid lsswmadl Loan Balance . s ~ +000.00
2. Fee fa Assumption (Prepaid Finance Charge) :
3. ANNUAL PERCENTAGE RATE . lO.OO %
4. The FINANCE CHARGE on this transaction will begin to accrw on ?1 ~ , 19_.$(1
(Complete if date on whicA FINANCE CHARGE begins to accrw if different from date of transactionl.
5. REMAl1~12G51 YMENTS: Principal and interest on the assymad loan shall be 12n txlnsscutiw equal monthly insalhnents of
t 9 each. the first due on May 21. , 19_.$Q_. and :he od+ere due on the ssrne
date of each succeeding month thereafter. TM TOTAL OE PAYMENTS (principal spd interest only) on this transaction will bs = 11 + 101.2
fi. LATE CHARGE: The aswmirg psrtias shall pay to the Bank a late charge of J % of any monthly installment of principal and interest
~ not received by the Bank within 10 days after the installment is due.
7. SECURITY AND SETOFF: The Bank's security for the indebtedness is a Mortgage which is a lien on the property described show. Said
Mortgage is also s lien on all improvements, after acquired property and other property rights ss more specifically desaibsd in tM Mortgage.
Ths Mongsge shall also stand as security for future advances as more specifically described in the Mortgage. The Bank is given the right of setoff
against all deposits, uedits, and other property of the aswmirlg parties in the possession or control of the Bank for this indebtedness.
B. PREPAYMENT: The sswming parties may prepay the principal amount oumsndirg in whole or in part without penalty. However, them are
certain restrictions with respect to prepayment in part as fully explained in the Note.
9. ESCROW: In addition to the monthly principal and interest payment there shall be an additional aserow payment equal to 1112 of the annual
j rsN estate taxes and sssessrrrents and property irauranoe premium and flood insurance premium if fkxad inwrance is required, to bs held end used
by the Bank for the payment of these experaes.
10. FLOOD INSURANCE: Flood Insurance will be required to be obtained by the aswmirq parties if the above described real estates securing this loan
~ is located in sn area that has been identified as an area having special flood hazards and the mortgage was closed after July 1, 1975. Any buildings
and/or personal property securing the loan located on such real estate must be covered for the term of the loan by such insurance.
~ Wk further acknowledge that we have made application to said Bank, which has been accepted by it, and inconsideration of such aotxptance, we here-
by assume and 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 the
prescribed monthly payments thereon to the Bank, and will perform all other requirements in accordance with the terms of said Note and Mortgage. We
also agree to supply to the Bank an annual financial statement; if requested in writing by the Bank.
This Agreement shall be binding upon the parties hereto, their respective hein, legal representatives, successors and assigns.
IN WITNESS WHERE , we have hereunto set our hands and seals this 7th day of Apri 1 ~ 19 8D
and acknowledge that ve received a completed copy of this Aswmption Agreement on said date.
w
i In presence of:
~,~la~~yG7L~L x ~ (SEALI
I~~k.~'p"~CJ ~ Car ~ ~ C
~ I,YT-L t ~RTY
~ _ (SEAL)
F AS TO A LIMING PARTIES Mari 1 ne ~'."I Ur~l SY
Mailing Andress:
I
e
S
As sellers of the above described property we hereby acknowledge end ogres that of rat lion we shall continue t in obligated to pay _
F the above dssaibed loan according to all its terms and conditions as existed on the date when obl' nacre r ass of this assumption
a any alteration or change in the terms or conditions of said loan required by tfje'Bank for sttumpt'
~,,•.'.A
iCJ~
• ~ (SEAL)
' _ Ra red R 9ved~; RTY
cutivetYice President (SEALI
AST 5 LLING PA IES SELLING PARTY
STATE OF FLORIDA -
COUNTY OF ST. LUCIE ~'~c'gg+~~~''''..
Carroll E. Curtis .•i J,•Curtis
BEFORE ME, personally appeared , h 1 S W1 fe
to me well knnown end known to nne to be individuals described in end + ~ tM~ ' nrlstrumsnt as assuming Party srxf sdcnowledgsd be-
.
fore rrts that they exacutad tM ssma for tM purposes enin expressed. .j `c. + #'r
WITNESS my hand and official seal this day of - : 1
G
~
NOTARY PUBLIC ' / ~ ~ : $ki lea
MY Corrwnission Expires_:`rl;..'"~
R
Ma~~n~tej~~~~i982 " 1494
Flss sec Rev 2n11 ' B:^.OK • • PAGE
s