HomeMy WebLinkAbout1723FIRST FEDERAL SAVINGS AND LOAN ASSoCIA rION OF FORT ..PIERCE ~
O REL SE ~'
MORTGAGE M DIFICATION, EA S(~98s1
AND ASSUMPTION AGREEMENT ~
Loan No. 23025420
Name : STEVEN D. ANDERSON
THIS AGREEMENT is made this
19~, by and between FIRST FEDERA:
OF FORT PIERCE, hereinafter called
STEVEN D. D
hereinafter ca led Owner s ".
W I T N E S S
~,y a
4th day of DECEN~ER ~ .
L SAVINGS AND LOAN ASSOCIATION
the "Association", and
SINGEE ADULT ~ •
E T H
WHEREAS, the Association owns and holds the original pro-
missory note and mortgage executed on April 26th 78 ,
evidencing a principal indebtedness on said date of 23,200.00 .
which. mortgage is recorded in Official Record Book 286 page
_ 16_ of the public records of __ST_L~C E County,
Florida; 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 the credit of the
Owner(s) is satisfactory to the Association and that the interest
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
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 DECEh~ER 4th 19 80 ,
i s ZWENTY TWO THOUSAND FIVE HUNDRED FIVE'AND 82/100------------------~-----
($ 22,505.82------- ) and that the interest rate on said indebted-
ness shall be 13.50 per cent per annum, beginning on
M R 4th 19 80 , and that commencing on DECE~~BER 10th ,
]980 the Owner s) shall pay said principal and interest
in consecutive monthly installments of TWO HUNDRED SIXTY SIX AND 02/100
---------------------- ($ 266.02---------- ) and a like sum on the
10th ay o each month thereafter until the entire indebted-
ness 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 JUNE 10th ,
1(~ 2003
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 Dffseb 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
io~th 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
1 ~/1 r; ]~
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