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NOW, THEREFORE, in consideration of the premises and the sum of ON E DOLLAR (S! .00) in hand paid by each of the parties to the otbrr
and is the further consideration of the acts to be performed by the parties each for tlta benefit of the other. it is agreed:
ONE: The facts outlined above arc true and correct to the best knowledge and belief of the parties. -
TWO: The principal sum due under said mortgage rate is S 37,478.02 ,
i
THREE: Simultaneousl bercwith the Purchaser has executed a promissory note for an additional sdvana under said mortgage in the
amount of S 1~ ~ 321.98 ,
FOUR: The total amount including additional advance which the Purchaser is obligated W pay is 556,800.00 ,
FIVE: The monthly principal and interest pa ent due under the mortgage note and mortgage shall be 5608.54
including interest at the rate of 12.500 q6 per annum. effective with the payment due October 1 ,198
SIX: Purchaser shall p~Y to the Note holder a late charge of 4.000 percent of any monthly installment not nxxived by the Note
holder within 5 days after the installment is due.
SEVEN: Purchaser may prepay the principal amount outstanding in whole or in part. The Mortgagee may require that any partial
prepayments (i) be made on the date monthly installments arc due and (ii) be in the amount of that part of oae or more monthly
installments which would be applicable to P~ilta• ~Y lid prepayment, shall be applied against the principal amount
outstanding and shall not postpone the due date of any subsequent monthly instalment: or change the amount of such
instalments, unless the Mortgagee shall otherwise agree in writing. If, within five years from the date of this Asarmptioa and `
Release Agreement, Purchaser makes any prepaymenu in any twelve month period beginning with the date a[thit Asatmption
and Release Agreement or anniversary dates thereof (`.loan year") with money lent to Purchaser by a lender other than the
Mortgagee, Purchaser shall pay the Mortgagee (a) during each of the fast three loan years 6.250 percent of the amount
by which the sum of prepayments made in any such loan year exceeds twenty percent of the principal amount assumed and
(b) during the fourth and fifth ban years ~ OOQ percent of the amount by which the sum of prepaymeats made in any such
ban year exceeds twenty percent of the principal amount assumed. plus any additional advance.
EIGHT: The Pru+chaser hereby assumes and agrees to pay the mortgage rate including the modified portions of the mortgage note
contained herein, and herby assumes the liability for any deficiencies accruing from the sale of the property by the Mortga®ee
through foreclosure or otherwise.
NINE: The Purchaser hereby agrees to, ratifies and confirts all of the conditions contained in the rrtortgage note and deed, including the
modified portions contained herein.
TEN: The Mortgagee, with the consent of the Purchaser evidenced by his signawrc hereon, does hereby release Mortgagor from
personal Lability arising from the execution of the mortgage note. _
ELE'~ EN- This agreement shall be binding upon the heirs, kpl representatives, and assigns of each of the parties hereto.
- FIRST FE ERAL SAVINGS dt LOAN
ASSOCI ON OF LAKE H ~
- By.
Ll~~ Assi Vice ident
t` -
Attest:
As to Mortgagee Ass' t Secretary
_ MORTGA E
(emu
' (SEAL)
'I Ralph W. Brawn
(SEAL)
C - (SEAL)
As to Purchaser remy C . B
(SEAL)
PURCHASER
c
STATE OF FLORIDA
COUNTY OF PALM BEACH -
I, an officer authorized to take acknowledgements, duly qualified and acting. HEREBY CERTIFY that
SOLAAIGE DEVINE and JANET T. BELCIiER
respectively, as Assistant Vice President and Assistant Secretary of FIRST FEDERAL SAVINGS 6t LOAN ASSOCIATION OF LAKE
WORTH, to me personally known to be the said individuals and this day acknowledged before me that they executed the faregpyogiq~u_~peot as suds
officers of said oorporaGon, and that they affixed thereto the official seal of said corporation. ' " A -
Tuh!te. Scare of - . _ ~ ~ - - ;1 -
Notary Public 1'
~ ~ My Commission expires: u~ • - L' :~,,,,n;,. ~.;:u;.nc. ~9tU SEP 24 PM ~ OS • ; ~ _ ~ ~ ~
FILED xkL' FECt)naED ~ ~ ;
STATE OF ~ a?r.. CM
ry SL t.UCI[ COUti i Y. f: A. : J .
aJt~ C ERK C RCUIT t
~R
COUNTY OF ~
1, an officer authorized to take acknowledgements, duly qualified and acting, HEREBY CERTIFY that
RALPH W. BROWN-and JEREMY C. BROWN, his wife ,
. to me personally kno~tli ~ ~ yjd
individuals and this day acknowledged before me thattheYexecuted the foregoing instrument. ...t.~r,~~~?~
DATED ~ ~ , 19 80 - ~ `-3;
SHARON BUTTERFIEID • • ~ ~
" 1',c 0aktand County. Michigan Notary Public ~1~
. ;~aci,mC County. M~ct:~gan ; •
;,ion Ex~~res FeGruary 4, 1984 BOOXtJtJV PAGE~O~1 h•''••••••... '
My Commission expires f ~ ` ,
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