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, ~ ~ , Q I ~ ON OF FORT ~IERCE
GS ~~~AN ~A S C
R DE L SA~1~V A
FI ST FE RA
~ MORTGAGE MODIFICATION, .RELEASE 54~~8
AND ASSUMPTION AGREEMENT . 3v
U'
Loan No. 23085168 N~e =_IRV~~IG i~~TER
- EDITH ~1. KEFl'E~
THIS AGREEMENT is made this llth day of SEPTEM~~R ,
19 81 , by and between FIRST FEDERAI, SAVING3 AND LOAN ASSOCIATION
OF FORT PIERCE, here~anafter called the "AssoGiation", and
IRVING HEFTER ANO EDITH M. HEFTER, NIS I~IFE ,
' r er called "Owner s .
W I T N E S S E T H: ,
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WHEREAS, the Association owns and holds the original pro--
missory note and mortgage executed on JANUARY _ 5TN 1981 .
c~ evidencing a principal indebtedness on sai~ date o 4.500.00 ,
S' n~ which. mortgage i.s reccrded in Of f icia l Recor d B oo k 3 4 6 , page
irr 1035 of the public records of ST. ~UCIE County,
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WHEREAS, said mortgage provides that the Association may
;'--js'~ declare all of the sums secured by said mortgage ~.o be immedi-
c m
-o atel.y due and payable if all or any part of the property or ~any
interest therein.is sold or transferred without Association s
o
written consent; and
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WAEREAS, title to said property is being transferred and
~ conveyed to the Owner (s) who wishes to o~?tain Assoc~ation's con-
7 G~ 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
`vr~" a rate requested by the Association;
- NOW, THEREFORE, in consideration of the covenants and t
promises contained he~ein and for other good and valuable con-
siderations, it is hereby agreed that the aforesaid docu~nents'
be modified as follows:
1. The undersigned Owner(s) hereby expressly assumes
and agrees tQ pay the indebtedness represented by and due on
the afor~said promissory note and mortgage and any modifica-
tion or correctidn thereof in accordance with the terms thereof
and as modified herein. It is agreed that the unpaid principal
balance of said indebtedness as of SEPTE7~RER llth , i981 ,
is ~OtlR THOUSAND OPtE~ HU'IDRE[f SEVENTY NINE 50/100----------------
(S 4,179.50---------~ and that the interest rate on said indebted-
ness shall be14.25 per cent per annum, beginning an
SEPTEMBER llth 19 1, and that co~encing on SEPTEMBER 20th ,
I~,, $1 , the Owner s) shall pay said principal and interest
; in consecutive monthly installments of QNE HUNDREO FIYE AND 29/104
' 105.29-------- ~
~ an a like sum on the
! ~.20th ay o each month therea ter until the entire indebted-
~ ness evidenced by the aforesaid note and mortgage, as modified
~ ~erein, is fully paid; except that any remaining indebtedness,
! if not sooner paid, shall be ~ue and payable on FEBRUARY 20th
~ 19 86 •
I
' ' 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 ~
I and any modi£ication thereof without defense or offset and
~ further agrees ta 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 Owneris) agrees to personal.ly per-
form and to fully abide by a~l the terms and conditions set
~ forth 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
~
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