HomeMy WebLinkAbout0710 - FIRST FEDERAL SAS NGS ANC~~ ~ANf A~ IA ~ SON OF FORT PIERCE • ~
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MORTGAC;t: MODIFICA~I~Ic~N, RI:I.I:ASF. ~vva71~
-AND ASSUMPTION AI~Rt:F.MFNT ~,,.ZS/"
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Lo~~n No.23040122 Nan+~, : DANIEL WALMA
DONNA J. NALMA aka Donna Walma
THIS AGREEMENT is made this -3rd daY of HQYENBER
' 19 80 , by and between 1" iRS`1' I'F.nF.RAI. :~AVIN(~S ANU LOAN ASSOC[A'1'IcJN
OF~ORT PIERCE, hereinafter called the "Association", and
DANIEL WALMA AND DONNA J. WALMA,_HIS WIFE aka Donna Nalma_T__his wife
ereina ter cal e "Owner •
W I T ly t 1
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WHEREAS, the Association owns and holds the original pro-
missory note and mortgage executed on October 30th 78
evidencing a principal indebtedness nn sat ate n 24.000.00
which mortgage is recorded i n Of f i c i a 1 rt~c-~rd 13c~c~k 297 , page
132 of the public records of ST L_UC_IE County,
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i3a; and
WIIEREAS, said mortctac~e I~rovi~lc~:: that the Association may
declare alt of the sums secured by ..lief mortyacte to be immedi-
ately due and payable if all or any hart of the property or any
interest therein is sold or transferred without Association's
written consent; and t
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WHEREAS, title to said t~rol~erty i;: being transferred and
conveyed to the Owner(s) who wishes to oi~tain 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
rate payable on the sums secured by saicl mortgage shall be at
a rate requested by the Association; ~
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NOW, THEREFORE, in consideration of the covenants ar.d
promises contained herein and for oth~-r good and valuable con- _
siderations, it is hereby agreed that the aforesaid documents
be modified as follows: t
1. The undersigned Owner(s) hereby expressly assumes
and agrees to pay the indebtedness represented by and due on
the aforesaid promissory note and mortc[.~c;e 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 _ __~Qy~er 3rd 19 8t) .
is TWENTY THREE THOUSAND FOUR H_UNORED SIXTY_FOUR AND 72/100--------------
23 4f 4.72------?~ an that the int•-_rest r~+tc~
urn
sid irtclel,ted- -
ness sha be 13.50 per cent per annum, beginning on
~~ovember 3rd 1980 and that conunencing en November 10th -
1~ gp the Owner !s) shall pay said E~rincipal and interest
in consecutive monthly installments of TWO HUNDRF_D SEVENTY SIX AND
X5/100---------------- f 5276.45__________) and a 1 ike sum on the
1Dth ay o each month therea ter until the entire indebted- ~
Hess evidenced by the aforesaid note anti mortgage, as modified 3
herein, is fully paid; except that any remaining indebtedness,
if not sooner paid, shall be due and t~ayable on NOVEhBER 10th
lac ~oo~
2. The undersigned Owner(s) hereby agrees that the afore-
said indebtedness stated in I~aragraph 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 he liah)c~ for said inclehtednrss as fully and .
to the same extent as if the Owner(s) was the original maker
~ thereon. In addition the Uwner(s) a roes to
~ , y 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 Owners) as the new
Obligor(s) on the subject loan, approves the credit of same and
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