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' NOW THEREFnRE, in considerat-ion of R~+1O HU~1DR® DOLiARS AND NO
C~TIS DOLLARS 20.00 ) and other good and -
valuable consideration, receipt of which is hereby acknowledged by
Mortgagee, it is mutually agreed by and between the parties hereto
as follows:.
1. That the credit of the Purchasers is satisfactory to the
Mortgagee and that the Purchasers are accepted for membership in
the Mortgagee. -
- 2. That-as a part of the purchase for said real estate the -
Purchasers hereby assume and agree to pay the above-described note
and mortgage to the Mortgagee and that the Purchasers hold said
property subject to said note and mortgage. and that they will make
.the prescribed monthly payments thereon to said Mortgagee and perform
all other requirements in accordance with the terms of this Agreement
and said note and mortgage.
3a. That the parties hereto agree that the interest rate of~ -
13.0 per cent per annum as set forth in said original note
~ hereinbefore described is hereby amended to 13.0 ~ per cent er
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annum and the parties hereto further agree that-the payment of
$ 554.72 per month as set forth in said original note is amended
to $ 5.54.72 for each and every month hereafter.
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3b. That the parties hereto agree that henceforth the default
interest rate of fifteen (15.0$) per annum as set forth in said
I~ original note hereinbefore described is hereby amended to 18.0
per cent per annum.
f 4• That all terms, covenants and conditions in said original
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note and mortgage referred to which are not inconsistent herewith
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are hereby expressly confirmed, ratified and declared to be in full
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' force and effect. .
5. Mortgagee hereby releases wP7c~r~r,~ ~ ~tt„r-t;on Ellen J.
E C~terl, as President and individually -
as Mortgagors under the hereinbefore
described note and mortgage, from all personal liability on said note
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and mortgage.
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6. This Agreement does not constitute the creation of a new -
debt, nor the extinguishment of the debt evidenced by said note and
mortgage, nor does it in anywise affect or impair the lien of said
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mortgage, which lien is a valid and existing first lien on the above-
described premises.
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