HomeMy WebLinkAbout0192 SU0294 -
-This instrument wu prepared by:
29030378 - 3L18E1n L. Donnell
uMpTIOIy~ AGRBBINB!`TT or noeurr ~E~?t siwiNOS o.d wAN _
- AiiOC1AT10N e1 WEiT MLM EACH
Zl• Oolwo ShMf
- WMf hh Moel~, Raids S3r02
THIS A(3RBSMENT, made this _.._?.5~. day of _ ALo ~R - - 19.$0..,
by and betwua FIDELITY FEDERAL SAVINGS AND LOAN ASSOCIATION OF WEST PALM BEACEi, a oorporatioa
e:ieting under the hws .of tlu United States of America, sad having its prindpal place of to a City of Weal Palm
b~ca~e ra 6 `
Beach, Florida, hereinaftu called the'Leadu, and ~10~L'QBf~ Saleaterrs & Shirlev~, Jam. hter called the SeUu;
and Er~d A~ Ong#~ & Msrilvn hereiaaftu celled the Purchaser;
WITNESSETH: - - `y
WHEREAS, the Leadu is the awnu and holder of a certain mortgage note executed and delivered by Ehe Sella
to the Lender, said note being dated Feb 24 1 in the prindpal amount of =._._--2444.44---------,
secured by a certain mortgage which is reoocded in .Official Record Book _____28;? page _.~.7.~6 Public Records of
St. I,ueie "County, Florida, encumbering the property deaaibed therein, and;
WHEREAS. the Sella is hag the real property described in said mortgage to the Purchaser and has naked the
Lendu to consent m acid sale, and the~P~'
hm sea has agreed to assume said note and mortgage and has asked the Lsndu to
consent to the Purcha~egr~np~i`pa of said note and mortgage as part of the purchase price, and;
WHEREAS part of the oonsidcration for consenting to said sale and the Purchaser
a assumption of acid note and
mortgage is that the Ixnder approve the Purchaser's credit and that the interest payable ari said note and mortgage shall be at
such rate as the Leader shall request.
NOW THEREFORE, in oonaidention on the mutual covenants contained in this Agreement and is acid note and
mortgage, and for othu good and valuable oouaiduations, the receipt of which are hereby acknowledged by the Lendu, it is
mutually agreed by and between the pactiea hereto as follows:
L That the unpaid balance of the mortgage note assumed by the Purchaser is ~___2$,132..45__---------___-- as
of 2Q 19$4_. - -
2. That the credit of the Purchaser is satisfactory to the Lender.
,ll 3. That (a) the interest rate in acid original noteis changed to 13! ~ . _ - - - per cent pu annum, and the
V monthly payments of principal sad interest in said original note an changed oo s _.323.10 - - - ,per month, beginning
-_V-_---October.---__l., 19_ ~ and (b) that the Purchaser hereby assumes said mortgage and shall perform each and all
~4 f the covenants, agreements and obligations in aforesaid original note and mortgage as modified by this Agreement.
4. ,That all terms, covenants and conditions in aforesaid original note and mortgage which are not inconsistent
T\ 1 .
I''i with this Agreement, are hereby e:preasly ratified and declared to be in full force and effect.
S Lcndu agrees to release the Sella, Ambrose Calca4terr8 and. Shirley__J.-_ Calcaterra___
- -
- -
, as
_ - - individually, from all obligations under aforesaid note and
mortgage, and said puson(s) is/are hereby released from all personal liabdity for the payment of acid above deacnlxd note
in consideration of the agreement by the Ruchaaer to assume and agree m pay sad perform each and every obligation undo
said note and mortgage as modified by this Agreement.
6. The Sella and Purchaser warrant and represent to the Lendu that the lien of acid mortgage, sa modified by
this Agreement, is a first lien upon the property dearnbed therein and that there is ao second mortgage or othu subsequent
lien, right, or claim of lieq, outstanding against the property desdzbed in the acid mortgage. In the event that there is any
such judgmtat or lien, right, title or interest aga~at or in acid property in favor of say party or parties not a party hereto as
of the effective date of this Agreement, or in the i`vent t~iat then has been some intervening interest which affects the validity
or priority. of said mortgage, or in the event that the mortgaged property has not been duly conveyed by the Sella to the Pur-
chase as of the date of this Agreement, then the release of the Sella and of the individual(s) above•etipulated shall be of
no force or effect. ,
7. That it is not anteceded that this Agreement constitute the ueation of a new debt, nor the eztinguis~mern 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 ezisting first lien on the property dearnbed in said mortgage.
8. That this Agrumeat shall be binding upon and shall inure to the benefits of the heirs, executors, adminis-
,cratora, aucceeaora and aaaigns of the respective parties hereto. '
~ 9. R'he Seller hereby authorizes the Lender to give the Purchaser aedit for any escrow balance which might be
s held by the Lender.
10. The Purchaaer.agreea to pay the costa of the recording of this Agreement and any documentary stamps,
intangible tear or other costs pertaining to the recording of the Agreement.
11. The use of the terms "Purchaser" and "Seller' as used in every instance shall denote the singular and/or
plural and the masculine and/or feminine and/or neuter whenever and wherever the context so requires or admits. t
rt i
IN WL'TNESS WHEREOF this instrument has been executed by tht parties hereto in manna and form sufficient
to bind them, a3 of the day and year first above written. a
~ RETURN TO F1DEtIT1~ FEDERAL `
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