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THIS INSTRUMENT PREPARED 8Y;
Citize~s Federal Savt~9s b Loan Association
of St. lucie County
1600 S. Federal Nighway. Ft. Pierce~ FL 3345a
C. R. McDonald~ Jr.~ General Counsel
. S_13388
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MODIFICATION RELEASE AND ASSUMPTION AGREEMENT
Kazimierz A. Oecowski
LOAN A~ 22p2$516 NAM~ary Decowski
~ed~ig Decowski ~a
This Agreement is made this ~S~- day of~~~~~- . 19yo, by and between
Citizens Federal Savings and loan Association of St. Lucie County, hereinafter called
"Association" and Kazimierz A. Decowski and Mary Decowski, his wife, a~d Gladys ~
Szcze~lanska, a marr ~ ed aau i L.
hereinafter called "Owner(s)."
WHEREAS the Association owns and holds the original promissory note and
mortgage executed on the 17th day of ~anuary , 1979, evidencing a principal
indebtedness on said date of 522.400.00 , which mortgage is recorded in Official
Records Book 3pt , Page~S . of tfie Public Records of Saint Lucie County.
Florida, and
WHEREAS said mortgage provides that the Association may declare all sums
secured by said mortgage to be immediately due and payable upon the sale, transfer
or conveyance of said property or any part thereof without the a,ritten consent of the
Association, and
WHEREAS title to said p~operty is being transferred and conveyed to the
Owner(s) who wishes to obtain the Association's consent to said transfer and agreement
that the credit of the Ow~er(s) is satisfattory to the Association and that the
interest rate-payable on the sums secured by said mor;ga~e shall be at a rate requested
by the Association.
NOW THEREFORE, in consideration of the covenants and promises contained herein
and for other good and valuable consideration. it is hereby agreed that the aforesaid
documents be modified as follows:
1. The undersigned Owner(s~ hereby expressly assumes and agrees to pay the
indebtedness represenied by and due on the aforesaid promiss~ory note a~d mortgage and
any modification or correction thereof in accordance with the terms thereof as
modified herein. I[ is agreed that the unpaid principal balance of said indebte ness
as.of ~anuarv 1 , 19 81. is Twenty-two Thousand, One Hudnred Forty-six and~5 /100
~$~.146.54 1 and that the interest rate on said indebtedness shall be ~~ per
a~num, begi"nning on January 1 , 1g8t, and that tommencing on ~anuar~-~ ~
~9~, the Owner(s) shall pay said principal and interest in consecutive monthly install-
ments of Q hundred,fortv six and 38/100
($ 2~ ~- ~ and a like sum on the~st day of~each month thereafter, until the entife
indebtedness evidenced by the aforesaid note and mortgage asmodified herein is fully
paid, except that any remaining indebtedness, if notsooner paid, shall be due and paya-
ble on the tst day of Februarv . 2D09~•
. 2. The undersigned Owner(s) hereby agrees that the aforesaid indebtedness
'.stated in Parag~aph t above is due according to the terms and cond~itions of the afore-
~ said note and mortgage and any modification thereof wittx~utdefense or offset and
further agree to be liable for said indebtedness as fuily and to the same er.tent as if
the Owner(s) was the originai maker the~eon. In addition, the O~,ner(s) agrees to
personally perform and to fully abid~ by all the terms and conditions set forth in said
note and mortgage and this agreement.
3. The Association secogni2es the New Obligor(s) as the Obligor(s) un the
subject loan, approves tt~e credit of same. and hereby releases the Original Obligor(s)
from further obligation or liab+lity under the mortgage or note referred to above.
4. Except as specifically designated herein, nothing here shall constitute
a change or amendment to the aforementioned promissory note and mortgage the provisions
of which are specifically reaffirmed by the new Obligor(s)..
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