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party of the second part with the written consent of the party of the
first part, then it is aqreed that the obligatfon due under this
Agreement shall likewise be reduced by an equivalent amount; such
equfvalent amount to be deducted from the final payment to be made
by the parties of the second part to the parties of the first part
hereunder.
If the parties of the first part shall default in makinq any
required payment of principal and/or interest under the obliqation
owing to Amerifirst, then the parties of the second part shall have
the right to advance the funds necessary to cure such default and
all funds so advanced by the parties of the second part together with
interest thereon at the rate of 10$ per annum, shall be credited against
the next installment(s) of interest and principal due hereunder.
Each of the parties shall promptly furnish to the other, copies
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of all notices of default which Amerifirst shall give by virtue of
this mortgaqe based upon the occurrence or alleged occurrence of any
default or defaults under said mortqage.
In the event Amerifirst requires the payment of any escrow for
insurance, taxes or otherwise, then it is further agreed that the
parties of the second part, shall pay, in addition to the regular
monthly installment as set forth above; such sums as are required
by Amerifirst to fund such escrow. Such payment shall be paid
by parties of the second part to parties, of the first part atrl timely
forwarded by the parties of the first part to Amerifirst, toqether
with their regular monthly installment payment. .
In the event of prepayment hereunder for or at maturity of this
Agreement, the parties of the second part shall tender such payment
to an escrow agent who is qualified to act as an escrow agent under
the Laws of the State of Florida, who shall in turn obtain an estoppel
letter from Amerifirst, if such obligation is still outstanding, and
pay from such payment tendered by the parties of the second part, the
swn necessary, together with any per diem, to satisfy in full the
obligation of Amerifirst and shall thereafter, pay the balance owing
hereunder to the parties of the first part.
This Agreement shall be binding upon the heirs, successors,
administrators and assigns of each of the parties hereto.
IN WITNESS WHEREOF the parties have hereunto set their hands
and seals the day and year first above written.
WITNESSES:
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STATE OF FLORIDA
COUNTY OF ST. LUCIE
PARTIES OF THE FIRST PART
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Kyle Dresbach
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Darlene L. Dresbach
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I HEREBY CERTIFY that on this day, before me, an officer duly
authorized in the State and County aforesaid to take acknowledgments,
personally appeared KYLE DRESBACH and DARLENE L. DRESBACIi, his wife,
to me known to be the persons described in and who executed th~ fore-
going instrument and acknowledged before me that they executed the
same.
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