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AI11ER''.. "''S
This hatntrrtertt prepared by: ~ A:11 ~ l . l., . .
W. Nlrrt« a X93050 •
AnteriFral Federal C ~ ~ ~ ~ " 0,15.
One S.E. Third Avertw
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MODIFICATIONr RELEA8E AND A88UMPTlON AGREEMENT
LOANS 4S•0098949-635 p~ ~
Zi21~ 1980
The parties b this agreement are AMERIFIRST FEDERAL SAVINGS AND LOAN ASSOCUTION, brmsry known as FIRST FEDERAL SAVING8
AND LOAN ASSOCIATION OF MIAMI. hereinafter cared "Association' and 1tODlt~ H. JO®IS A1fD 1~D'rH 8. JOHNS
hereinafsr carsd'New Obfporys)".
WHEREAS.. PRA>8f 8H6At AND DORA?ilY JEAII 8H>;Al b/w
hereinafter referred b as "Original Obkga(s)" executed a promis Hots or esstxnption thereof on the day or October
1f~ . evidertcirq a prinr~pal rtdsbtedness of SIZ!! ND 8 ND 00/100
Dollars 6~~ )secured by a mortgage upon real
Drumbe~r mo ~'8apei~ recorded n the Public Rsooras of 8L. _ Lucite ~xy war q~•s
Zl .and offices( Rsc«ds Book 29b Page(s) 1 S26 .and
WHEREAS. said Original Obkgorts) is conveying the property sub)sct b said mortgage b the New Obligor(s). and
WHEREAS. paragraph 17 of sorb mortgage states that the Assoaation may aoirelerate the balance due secured by sad mortgps upon said
conveyance unless the Assopation and the personts? b wftom the sub(ecy property is conveyed resch agreement n wrung that the credit of such person(s) is
sabafstsory b the Assoaatan and that the ir?terest payable on the sums secured by the mortgage shah be at a rate acceptable b the Assopatgn and
WHEREAS. n the et?ent such an accord rs reached. lhs Assoaanon ~ then requred b release the Orgnal Obkgor from ar oblgatiora tutder the
mortgage and note. and
WHEREAS. the parties have reached such an agreement and wish to reduce same b wrdrg.
NOW THEREFORE n consideration of the mutual promises and covenants contacted heren the Rases agree as torows:
t. The txtderstgned New Obligor(s) her~~tp~yy expreasly assume and~ aa~~e~es b pay the irtdebt represented by the aforementioned pronrssory
note wtrch indebtedness is now the sum a 8IZ'!'t 190OiAND SIZ1T-ZH>s8i AN~7003
Dollars (S • )due aooordtrtg b the terms
and cortdRions of the,atorementtoned note and mortgage without defense or oNset and agree b be kabie itterefore as fury and b the Sams extent as d the
original maker(s) or Obligor(s) (hereon. In adddton the txtdersigrted New Oblgor(s) agrees b personaly perform and b fury abide Dy aN d the terms artd
conditions set forth in the aforesab note and mortgage. - -
2. The provisions of said note and mortgage are hereby expressy reaflrmed except as b the amount of the aforementarted prnr~ bdlartce and
except ati forows:
Iaterest on the subject obligation shall henceforth accrue to the Association at
the rate of SIZT6BIi PIt~CENT (16.0002) per anntaa, affective the tsonth follotdttlg your
closing..
Zhe trofular atsortiaing aonthly payr~snt dw in accordatmca with the tett~s of the
aforel~entiotned note shall henceforth be it? the stlaz of 13Lt8~ HOllDtttED EIt;R'! AUD 91/100
DOLLARS ($808.91) due and payable on the sane day of each and every rwnth as called
for•by the subject proarissory note, effective the taont6 folloeLng your closing.
Omit 307, Jutchinson Island Club, O.R. t3ook 254, Page 2128, St. Lucie Couaty, Florida.
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3. The Assouation recogrnzes the New ~JtNigorts) as the Obttgorts) on the SubfeG loan. approves the credit of same, and hereby releases the
Original Obligor(s) from further Obkgetion or liabdrty under the mortgage or note referred b above
4. Except as speaficary designated heren. nothing here stroll constitute a change or amendment to the aforementioned promissory mote and
mortgage the provisions of which are specifically reaftirrtted by the New Obligor(s).
1Ais sgr~tnent is birtdctg upon the hers. and assigns of the parses
r •)S~tta~fa
New Oblgorts) N W
i,~.
R . Y.-. •
~ JEFFREY W. JOHNS s. J
3jATE` OF ' l
~Ty~Op~~••''. ' (lit f1HIl11SSfOH EXPIRES W113, 1982 /1~ J ss
s 1 HEREt~I( CERTIFY. that on ~ g day of iT/~1 . 19 ~
~ .before me personaNy came ~ • ~~S
? ~1JTt1 5 . H-1ri S
j to me known to be the ctdividuals described b and who executed the foregoing agreement. and they acknowledged before me that they executed the same for
the purpose therein expressed.
`s
~ WITNESS my hand and official seal at t_V ~ B~ Ow said County and State the day and year writt
nily Commission E:picas Notary .
FIRST FEDERAL 8AVtNGS AND LOAN
~ Attest: BY:
r Assistant Secretary Ass~steni Krce President
LS 271 Rev 10.~T9
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