HomeMy WebLinkAbout0212 ~o~
SU2~014
' This instrwaent was prepared by:
Sharon McDaniel
o
. Community Federal Savings $ Loan
Association, Riviera Beach, FL $~0
AGREEMENT
THIS AGREEMENT, made this 24th day of .September ~ l9 80~
by and between OOMMUNITY FBDBRAL SAVINGS AND LOAN ASSOCIATION OF THB
PALM BEACHES, a corporation organized and existing under the laws
of the United States of America, hereinafter referred to as
"Mortgagee" , and Charles A. & Mary A. Gerstung, his wife
hereinafter referred to as. "Purchaser".
W I T N E S SET H:
WHEREAS, the Mortgagee is the owner and holder of a
promissory note dated August 11 ~ 1980 in the original amount
of SEVF1d THDilSArID T4iA H[1~IDT:ED AND NO/100 DOLLARS 47,200.00 )
which is secured by a mortgage of even date and recorded in Official
Record Book 336 ~ page 2026 ~ public Records of St. Lucie
County, Florida, which encumbers real estate described as follows,
to-wit:
Lot 28, Block 435, PORT ST. I~)CIE, SDLTION TEII~Q:, aooordit~ to
the Plat thereof as reoor+ded in Plat Book 12, Page 13A of the
Public Iaecords of St. Lucie Cbtmty, Florida.
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WHEREAS, the Purchasers are purchasing said real estate and
have agreed to assume said note and mortgage and have made application
to the Mortgagee to allow the Purchasers-to assume the hereinbefore
described indebtedness evidenced by said note and mortgage as a part
of the purchase price.
WHEREAS, part of the consideration for. allowing the Purchasers
to assume said note and mortgage by the Mortgagee is that the Mortgagee
approve the Purchasers' credit and that the interest rate shall be at
such rate as the Mortgagee shall request in accordance with Paragraph
10 of said mortgage being assumed and that the Purchasers pay an
assumption fee.
The balance of this loan being assumed is $ 47,200.00.
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