HomeMy WebLinkAbout0063 ~ f IRST. FEDERAL SA1r ~NGS a~1D~ LOAN ~~~SOCIh 'ION 4F FORT ~RIERCE
aS(~i381S MORTGAGE MODIFICATION , RELEASE
AND ASSUMPTION AGREEMENT 7
0
Loan No . 23058124 Name : MICHAEL T . LUCARDI `
JACQUELINE R. LUCAFJ~1 AKA
Auqus~cquel.ine Lucardi-
THIS- AGREEMENT is made this 25th day of , .
19 80, by and between FIRST FEDERAL SAVINGS AND LO ASSOCIATION
OF FORT PIERCE, hereinafter called the "Association", and
MI L T. LUCARDI AND JAC UELINE R. LUCARDI, HIS WIFE .
hereina ter ca a Owner (s a a acque ne Lucardi
W I~.T ~1lEi S SETH
- WHEREAS,'~the Association owns and. holds the original pro-
missory note and mortgage executed on August 9th 19 9
evidencing a principal indebtedness on said date o S 10,000.00 ` .
which. mortgage is recorded in Official Record Bodk 314 page
1182 of the public records of ST. LUCIE County,
Flo
i~a; and - .
WHEREAS, said mortgage provides that the Association may
declare all of the sums secured by said mortgage to be immedi-
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 th_e credit of the
Owner(s) is satisfactory to ..the Association and that the interest
rate a able on the sums secured b said mort a e shall be at
P y y 9 9
~3 y~,, a rate requested by the Association;
- z:
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 : -
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4-~~~ 1. The undersigned Owner(s) hereby expressly assumes -
'j and agrees to pay the indebtedness represented by and due on
~•.`-the aforesaid promissory•note and mortgage and any modifica- -
y tion or correction thereof in accordance with the terms thereof
~ and as modified herein. It-is agreed that the unpaid principal
i - - balance of said indebtedness as of h 19$0
is
BHT THOUSAND SIX HUNDRED EIGHTY NINE• -
~ (S 8 689.30--------~ and that- the interest rate on said indebted-
E Hess she be 11.25 per cent per annum, beginning on
ust 25th 1980 and that commencing on September 10th ,
]9-80 ~ the Owner s) shall pay said principal"and interest
in consecutive monthly installments of ~p
0--------_--------- (S 218 49----------•) and a li a sum on the
10th ay o eac month therea ter 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 pain , sha3.1 be due and payable on fk~trt~Pr 10th , .
19 84 ~ _ - ~ .
2. The undersigned Owner(s) hereby agrees that the afore-
said 'indebtedness stated in .Paragraph (.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 a~ if the Owner(s) was the original maker
_ thereon. -In addition,_th~ 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
~ s~c3~1 63 _
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