HomeMy WebLinkAbout1153FIRST FEDERAL SA~~NGS AND ~IdAN A~SoC~a,,oN oF FORT PiERCE
MORTGAGE MOD I F I CAT ION , RGLE:ASF. S~OU~r6 ~
AND ASSUMPTION AGF.F.EMENT _ ~ ~
~'.
Loan No . 23t~62654 _ ham~' :!_ Dol or~s A• MQrydn
TNIS AGREEMENT is made this 9th day of MARCN ~ .
19 81, by and between FIRST F'EDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE, hereinafter called the "Association", and
DOLORES A. MORGAN. A SINGLF ADULT -~
reinafter called "Owner(s)~'.
W I T N E S S E T H:
WHEREAS, the Association owns and holds the original pro-
missory note and mortgage executed on October 79 .
evidencing a principal indebtedness on sai~ d-ate o 30, 00.00 .
which mortgage is recorded in Official Record Book 319 , page
597 of the public records of ST. LUCIE County,
F ori a; and
WHEREAS, said mortgayc provides that the Association may
declare all of the sums secureci by said mortqage to be imrt-edi-
_•- - ~~7• :~: ~.,,~.'' j:.'.luui~. ii u1i "va u~~~t ~iui l. Vi LIIC ~..7LVtJCl l.y UL any
interest~therein is sold or transferred without Association's
: ; ' written consent; and
- WHEREAS, title te said pro~erty is bc~ing transferred and
~- con~•e~•ed to the Owner(s) who wishes t~ ohtain Association's con-
-~ ~P-.:*,, tc sai3 tra:.sfer ar~d agree~~~er~t that the credit of the
:.~- Owner(s) is satisfactory to the Asso~ciation and that the interest
~__ rate payable or the sums secured by said mortgage shall be at
~ a rate requested by the Assoc:ation;
~ NOW, THEREFORE, in consideration of the covenants and
•. promises contained herein and for other good and valuable con-
-, sider~tions, it is hereby agreed that the aforesaid documents
--• be modif ied as fol lows :
`_, l. The undersigned Owner(s) hereby expressly assumes
~_" nnd agrees to pay the indebtednesG represented by and due on
~-_~, _ the aforesaid promissary note and mortg3ge 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 sai3 indzbtedness as of March ~th , 1981 ~
is TWENTY NINE THOUSAND NINE HUNDRED ~ORTY FIVE AND O1/]00----------------
(S 29,945.01------ ) and that the interest rate on said indebted-
ness sh~ll be 3~.50 per cent per annum, beginning on
March qth` 19~1 , and that comr.~encing on MARCH lOth ~
19 81 , the Owner s) shall pay said principal a:~d interest
in co:~secutive monthly installments of THREE Hl1NDRFD E~RTY FOIIB AN[1
?^~~^^ '" " -------- ~,~u a iiice sum on the
vLS~ 1:3L______-_~_____ \Y .S`f`f..S~/~ - _ I
-ID~~ day of eacn month thereafter until the entire indebted-
r-ess evidenceci by the afaresaid note and mortgage, as rr,odified
herein, is fully paid; except that ar-y remaining.indebtedness,
i f not sooner ~a id , shal l be due and ~ayable on ~~ptPmher IOth ,
lAX 2009
2. The undersigned Uwner(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 offset 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(s1 ayrees to 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 re~ognizes the Owner(s) as the new.
Obligor(s) on the subj~ct loan, apprc~ves the credit of same and
12/10179
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