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FIRST FEDERAL SA~ ~NGS AND ~~b~! ~AS?~~~oN oF FORt .PiERCE
MORTGAGE MODIFICATION, RELEASE ' ~~1~.7v ~ r
AND ASSUMPTION AGREEMENT ,9 ~
Loan No . 23074592 . Name : ROBERT V. GRE~H ?
KATHERINE 8. GREEN
THIS AGREEMENT is made this 15 day of FEBRIIARY ~
19 82, by and between FIRST FEDERAL SAVING5 AND LOAN ASSOCIATION
OF FORT PIERCE, hereina~t~r called the "Association", and
R RT V. G A D KATH RI B. GREEN HIS WIFE .
hereinafter ca e Owner s. .
W I T'N E S S E T H :
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WHEREAS, the Association owns and holds the origi.nal pro-
missory note and mortgage execute8 on JULY 24th ~ 198Q ~
evidencing a principal indebtedness on sai'~ date o 34,OOO.QO.
~ w•hich mortgage is recorded in Of f icial Record Book 335 , page
~a ~ ~0~~_ of the public records of ST. LUCIE County,
; F~c~a; and
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° E WHEREAS, said mortgage provides that the Association may
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--s~ ~ t t declare all of the sums secured by said mortgage to be invnedi-
;~.~~n~._~•_~~.~_~ ately due and payable if all or any pa-rt~of the property or any
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-.•.~,=f ~ interest therein is sold or transferred without Associ'ation's
° ~ t~° written consent • and
, ; . ~s.s. •
, -
~ u` y-:,,,=~s~y,;' . . .
'"x WHEREAS, title to said property is being transferred and
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conveyed to the Owner(s) who wishes to ohtain Association's con-
; sent to said transfer and agreement that the credit of the
~~i~,~'i1+ ~ Owner (s) is satisfactory to the Association and that the interest
tate payable on the sums secured by said mortgage shall be at
' fl~ • .
,;,~;~!;i=;;;:t~ a rate requested by the Association;
1~•~ NOW, THEREFORE, in consideration of the covenants and
promises contained herein and for other good and valuable con-
-:.:ar
~.••K~~ siderations, it is hereby agreed that the aforesaid documents
be modif ied as fol lows :
1. The undersigned Owner(s) hereby expressly assumes
and agrees to pay the indebtedness represented by and due on _
the aforesaid promissory note and mortgage 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 said indebtedness as of FFRRUARy t_5 , 1982 ,
' is THIR Y THR~ THOUSANQ EIGHT H~NDR~D THIRTEEN AND 51/100-------~-------
~ 33 813.51------) an that the interest rate on said indebted-
ness s all be 13.50 per cent per annum, beginning on
F~BRUARY t~_ . t 19g_, and that commencing on _ MaRr.H 1 th ,
_~82 , the Owner s) shall pay said principal and interest
in consecutive monthly installments of TNREE HUNDRED EIGNTY NINE AND
80/100-----------------~5 389•80---------) and a like sum on the
lOth day o~eac~mont therea ter until the entire indebted-
' ness evidenced by the aforesaid note and mortgage, as modified
herein, is fully paid; except that any remaining indebtedness,
if not sooner paid, shall be 3ue and payable on OGTOBEB lOth ,
~ 2009
2. The undersigned Owner(s) hereby agrees that the afore-
~ said indebtedness stated in Paragraph 1 above is due according
~ to the terms and canditions 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(s) ayrees to personally per-
; form and to fully abide by all the terms and conditions set
~ forth in said note and mortgage a:~d this agreem~nt.
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3. The Asso~iation recoqnizes the Owner(s) as the new
Obligor(s) on the subject loan, approves the credit af same and
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~ ~~K 371 pA~~ ~
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