HomeMy WebLinkAbout0662 FIRST FEDERAL SA1?~,~GS AND~E~AN ~s~~ocia.,oN FORT -PIERCE
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'MORTGAGE MODIFICATION, RELEASE
~ AND ASSUMPTION AGREEMENT `0
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Loan No. 23069428 Name : Anthony DeBI asi s, _
Mafalda DeBlasis
THIS AGREEMENT is made this 17th day of Se tember •
1~9 8Q, by and between FIRST FEDERAL SAVINGS AND LOAN SASA
SOCIATION
OF FORT PIERCE, hereinafter called the "Association", and
ANTHONY DE BLASIS AND MAFALDA DE BLASIS, his wife ,
hereinafter ca led "Owner (s) " .
W I T N E S S E T H_
WHEREAS,~~the Association owns and holds the original pro-
missory note and mortgage executed on Marsh 26th 19 80
evidencing a principal indebtedness on said date of $28,500.00
which. mortgage is recorded in Official Record Book 328 page
- 1869 of the public records of St. Lucie County,
:rs Flor1 a; and
w ~ WHEREAS, said mortgage provides that the Association may
~ declare all of the sums secured by said mortgage to be immedi-
rrr ( ately due and payable if all or any part of the property or any-
~ interest therein is sold or transferred without Association's
written consent; and
.
WHEREAS, title to said property is being transferred and
conveyed to the Owner(s) who wishes to obtain Association's con-
sent to said transfer and agreement that the credit of the
Owner(s) is satisfactory to the Association and that the interest
~T rate payable on the sums secured by said mortgage shall be at
" ~ a rate requested by the Association;
~ -NOW, THEREFORE, in consideration of the covenants and
-promises contained herein and for other good and valuable con-
siderations, it is hereby agreed that_the aforesaid documents
be modified as follows
~I 1. The undersigned Owner(s) hereby expressly assumes -
and agrees to pay the indebtedness represented by and due on
the aforesaid promissory note and mortgage and any modifica-
tion or correction thereof in accordance with the terms thereof
and as modified herein. It is agreed that the unpaid principal
balance of said indebtedness as of tember 17th 1980
` 15 ~•went -
~ y_Eightshousand Four Hundred Fifty-Two and Tj
) and that the interest rate on said indebted-
Hess sha 1 be 3 per cent per annum, beginning on
Se tember 17th 19 and that commencing on October 10th
19-80 the Owner s) shall pay said principal and interest
in consecutive monthly installments of Three Hundred Thirty-Two and 21/100---
---($332.21-----------) and a like sum on the
_ ay o each month thereafter until the entire indebted- `
Hess evidenced by the aforesaid note and mortgage, as modified
herein, is fully paid; except that any remaining indebtedness, _
if not sooner paid, shall be due and payable on 1~av-10th
l(l9 ~~005 •
2. The undersigned Owner(s) hereby agrees that the afore-
said•indebtedness stated in Paragraph 1 above is due according
to the terms and conditions of the aforesaid note and mortgage
and any modification thereof without defense or offset and
further agrees to be liable for said indebtedness as fully and
to the same extent as if .the Owner(s) was the original maker
thereon. In addition, the Owner(s) agrees to personally per-
form and to fully abide by all the terms and conditions set
forth in said note and mortgage and this agreement.
3. The Association recognizes the Owner(s) as the new ,
Obligor(s) on the subject loan, approves the credit of same and
8~ PbGE ~
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