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FIRST EEDERAL SAVit~GS AND LOAN AS~~CIA'~ .JN OF FORT PIERCE ~
MORTGAGE MODIFICATION, RELEASE 51~602 ~
AND ASSUMPTION AGRE~MENT
Loan No . 23063314 . Name : Robert G. ~ Leonhard ,.~ ~ d
Shirley Mn Leo~nha~d ~~
orne on
THIS AGREEMENT is made this 6th day of MARCH ,
1981 , by and between FIRST FEDERAL SAVINGS AND LCAN ASSOCIATION
OF FORT PIERCE, hereinafter called the "Association", and
Robert G. Leonhard and Shirley Ann Leonhard, his wife and Lorne H. Nicholsqn,
hereina ter called Owner ts) ". a singie adult
W I T N E S S E T H:
WHEREAS, the Association owns and holds the original pro-
rnissory note and mortgage executed on p~~~ ,
evidencing a principal indebtedness on said ate o 20.900.00 .
which mortgage is recorded in (~fficial Record Book 319 , page
1519 of the public records of ST.LUCIE County,
Florida; and
WHEREAS, said mortqaye provides that ths 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
iiiterest thercin is sold or transferred without Association's
written consent; and
~~ w'fiEREAS, title to said property is being transferred and
T~ ~ conveyed to the Owner(s) who wishes to ohtain Assaciation's con-
sent to said transfc~r and agreement that the credit of the
~ Owner(s) is satisfactory to the Association and that the interest
~J rate payable on the sums secured by said mortgage shall be at
~; ~ rate requested by the Associaticn;
t NOW, THEREFORE, in consideratior. of the covenants and
~~~romises contair~ed herein and for oth~r good and valuable con-
sider~tions, it is hereby agreec that t_he aforesaid documents
' ' be modified as follows:
1. The unuersigned Own~r(s) h~reby expressly assumes
and agrees to pay the indebtedness re:~rc~s~nted by and due ~n
the aforesaid pr'or~issory note and mor.*_qauE and any modifica- -
tion or correctior. thereof. in accordance with the terms thereof
and as modified herein. It is ugrced that the unpaid principal
balance of said indebtedness as of March_ fj.}„h. ~ 19 81 ~
is TWENI'Y THOUSAND FIVE HUNDRED ~ORTY EIGNT AND 91/100=--------------__
(S 20,548.91-------) and that the interest rate on said indebte -
nc~ss shall b• per cent per annum, beginning on
March 6th , 19~1_~ and that commencing on March lOth ,
~81 , the Owner (s) shall pa}~ said principal and interest
in consecutive monthly installments of TWU HUNDP.EQ FIFTY (1NF AND 47/100-
---------------------- ($ 251.47---------- ) and a like sum on the
~ lOth day o~each month thereafter ur.til the entire indebted-
ness evidenced ny the aforesaid note and mortgaqe, as modified
herein, is fully paid; exceQt that any remaininq indebtedness,
i f not sooner paid, shall be due and payable on ~~lovember l~th ,
1999. . ~
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 r.ote and mortgaye
and any modification thereof without de~ense or offset and
further agrees to be liable for said indebtedness as fully and
to t1~e same extent as if the. Owner.(s) was the original makcr
thereon. In addition, the Uwner(s) ayr~es to personally per-
fc~rm and to fully abide by all the terms and conditians set
forth in said note and mortgage and this aqreement.
3. The Association recognizes the Owner(s) as the ne,~
Ohlig~r(s) ~z; the subject loan, approves the credit of same and
ann,~'JW °.~+v~ '#~~,
12/+0/79