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' ~ MORTGAGE ASSUMPTION AGREEMENT ~ /
SU3999.
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WHEREAS, FLORIDA NATIONAL BANK OF MARTIN COUNTY, successor to STUART
` NATIONAL BANK, loaned to JOACHIM DEVELOPMENT INC, a Florida Corporation
the sum of FIFTY ONE THOUSAND THREE HUNDRED AND 00/100 DOLLARS ($51,300.00)
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evidenced by a Promissory Note, secured by a certain Mortgage, dated 1
~ February 7, 1979, recorded in Official Records Book 303 Page 858, St. Lucie
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~ County Florida public records, encumbering the following real property:
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Lot 4, Block 133, SOUTH PORT ST. LUCYE UNIT-EIGHT,
according to the Plat thereof, recorded in Plat Book
14, Page 26, public_records•of St, Lucie County, Florida
WHEREAS, HAROLD MAYBAUM is about to purchase the property securing the
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j~ said loan and the parties have requested this Agreement: ~
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~ NOW, THEREFORE, it is agreed that the undersigned Purchaser assumes
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and agrees to pay said indebtedness, the outstanding balance of which is
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FIFTY THOUSAND TWO HUNDRED SIXTY THREE AND 45/100 DOLLARS ($50,263.45) f i
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iE in accordance with the terms of said Nate and Mortgages as of Oct. 10, 1980. {
IT IS AGREED that interest rate shall be changed to TWELVE PERCENT .(12.00)
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-IT IS FURTHER AGREED that the monthly payments will be $Sfi6.05. Such-
j payments shall be applied first to interest .and balance to principal until
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i said undebtedness is paid in full. 1 `
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~ THE BANK HEREBY consents to the transfer of said property, to said
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Purchaser and to said Assumption and the Mortgage shall remain in full force
and effect.
THIS AGREEMENT is hereby made a part of the aforesaid Note, as completely ~ p3t
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j as if incorporated therein, and said Mortgage and Note are hereby referred to
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and made a part hereof.
ii IN WITNESS WHEREOF, the Parties hereto have hereunto set their hands and
seals this 3 '1 day of October 1980.
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(witness) roid Maybau~ ~ E
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(witness) .`~.S ,'d0~~.'.:,~s`~;~`- .Mf~`_
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~ ~ FLORIDA N~~Y , . ~~j, I ~~~~COUNTY
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success
Yom/ ~ k ~ 1
~ ~ ATTEST : . L-~ Q - BY `
arl G. Miha y, Asst. Vic res Richard D. Smith, Vice Pres. •
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