HomeMy WebLinkAbout0899 NOw TNEREE'ORE, in considerat:ion of One Hundred and Nb/100 .
l)ULIJIR5 100.00 ) and other good and
valuable consic:eration, receipt of which is hereby acknowledged by
Mortgaged, it is mutually agreed by and between the parties hereto
as follows:
1. That the credit of the Purchasers is satisfactory to
the Mortyagee and that the Purchasers are accepted for membership in
the Mortgagee.
2. That as a part of the purchase for paid real estate the
Purchasers hereby assume and agree to pay the above-described note
and mortgage to the Mortgagee and that the Purchasers hold said
property subject to said note and mortgage and that they will make
the prescribed monthly payments thereon to said Mortgagee and .perform
all other requirements in accordance with the terms of this Agreement
and said note and mortgage.
3a. That the parties hereto agree that the interest rate of
9'0 -per cent per annum as set forth in said original note
hereinbefore described is hereby amended to 12.5 per- cent per.
annum and the parties hereto further agree that the payment of
$ 218.20 per month_ as set forth in said original note is amended
to S 293.39 for each and every month hereafter. -
3b. That the parties hereto agree that henceforth the default
interest rate of ten per cent (10.0$) per annum as set-forth in .said
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original notc~ 1~ereinbefore described is hereby amended to 18.0
per cent per annum. -
4. Th~?t all terms, covenants and conditions in said original
note and mortgage referred to which are not inconsistent herewith
are hereby_evpressly confirmed, ra~ified and declare: to be in full
force and effect.
5. Mortyagee. hereby releases Margaret Anne Gant, a single watan
as Mortgagors unddr the hereinbefore
3
described no*e and mortgage, from all personal liability on said note
I and mortgage.
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6. This Agreement does not constitute the creation of a new
debt, nor the extinguishment of the debt evidenced by said note and
mortgage, r~or does it in anywise affect or impair the lien of said
mortgage,-wtZich lier, is a. valid and existing first lien on the above-
described premises.
i - ~ - BO t~1GE
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