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HomeMy WebLinkAbout0345 • NOW THEREFORE, in consideration of ON6 H[~]DIiED NO/100 DOLLARS 100.00 ) 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 11.0 per cent per annum as set forth in said original note hereinbefore described is hereby amended to per cent per annum and the parties hereto further agree that the payment of $ 409.44 per month as set forth in said original note is amended to S 447.41 for each and every month hereafter. • 3b. That the parties hereto agree that henceforth the default interest rate of fifteen (15.0$) pe'r annum as set forth~in said ~ original note hereinbefore described is hereby amended to 18$ per cent per annum. I~ 4. That all terms, covenants and conditions in said original note and mortgage referred to which are not .inconsistent herewith are hereby expressly confirmed, ratified and declared to be in full force and effect. 5. Mortgagee hereby. releases William F. Snyder & Frances A. Snyder his wife as Mortgagors under the hereinbefore described note and mortgage, from all personal liability on said note - and mortgage. ~Es. '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 mortgage, which lien is a valid and existing first lien on the above- r described premises. • e~(~38 ~~~E X44 ~ ~ _ - ~ \ : t ; _ .