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NARBOR F~cDERAI•S OS~ ~ h ASSOCIATION `
MOkTGAGE MODI FI CATI ON , R~LEASE ~J l~~
ANQ ASSUMPTION AGREEMENT
L~an No. 23097114 Name: James E. Minor
Michelle L. Minor his wife
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TNIS AGREEMENT is made thi~ 31st day of March , 19 83 , by ~
~,t~d between HAR80R FEDERIIL SAV[NGS AND LOAN ASSOCIATI~JN,~~ormer~y First~ederal
. Savings and Loan Association of For* Pierce), herei~aftPr called the "Associa-
tion~ and James E. Minor and Michelle Minor his ife _ ,
f~~~r•einafter ca led the "(1~mer s~". ~ ~ ~
W I T N E S S E T H: ~
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WNEREAS, the Association owns and holds the ori~inal promissory note and '
~!~ortgage executed on July 14 , 19 81 , evidencing a principa? indebted-
ness on said date of $ ~ • , which mortgage is recorded in Of;icial {
. ?ecord Book 359 ,~~age~7~ of the ~ubl ic records of St. Lucie County, ,
florida; and
WHEREAS, said ~~ortc~~ge provided tnat the 1lssociation n~ay declare all of
tt~e sums secured by said mortqage to be i~r~mediat~~iy due and pa~/ahle if all or any
c>art of the property or any interest therein is sold or trar.sferred without Asso-
~~iation's t~ritten consent; and
WHEREAS, title to sai~ property is bc~in,~ Lra~isferre~i and con~ieyed to the
(h~~ner(s) who wist~es to ohtain ASSOCiation's consent to said transfer and a~ree-
f:~nt that the credit of the OHme~~(s) is satisfact~ry tu the Rssociation and that
the interest rate payable on the sums secured by said ir~ort~age sha11 be a± a rate
?•~:;~uested by the Association;
NOSJ. THEREFORc, in considPration nf the c.ovenants and promises con~:ained
tie?~ein and for other good ~nd valuable considerations, it i; hereby ~~_^,reed that
the aforesaid docu~~ents be R:odified as follows:
1. The undersi~~ne~ Owner(s) hereby ex~~ressly as.ui:~e; and a~rees to nay
t?e indEhtedness represented by and due en the aforesaid pro.~!issory note and mort-
~;.jge and any modification or correction thereof in accordance with the ter~t~s
_ • t~~ereof and as modified herein. It is a~reed that the un~ id princ~pal balance
.r.
c?f said indebtedne~s as o~ March 31 ~ lg 83 ~;s orty f~ve tt~ousand
,f, six hundred forty five an U~f fi@8==-== ~ - ~ ~ ~ ~
T ~15 645 07--
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c,o that the interest rate on sa~d indebtedness :ha~~~be _13.15Per cent per annum,
t:•~ginniny on ~qa~r~ch_~l____ > 19 83__. and that com~,encin~ on kpril_5 _ , 1`~ R3 ,
.
• tt:e U~ner(s) shall pay said ,~rincipal and intere,t in ~onsecu~ivp rrcnt~ily install-
i ~~.~•nts of Five hundred fort_ /~four_and 95~100----------------~ S 544.95----------_-~_
a?~d a 1 i ke sum on the 5th day of each r~+onth therea fter unt i 1 the enti re i nCZbted-
r;f~,s evidenced by the df01'f~5aid no±e anci :rur-t~~ac~c~, as ri~0~1f1~1 I1P1^~li~, i~ fully
i c1; Pxcept that any retr.a i n i nq i rldebte~J?~~S f not ~oo~~~~r r~-i i d, ~ F~~11 be C~UP. and
: ,~:~yable on Sep_tember_ 5_ _ _ , ~i~dx 2006.
2. The unders i~;ned Owner( s) hereby a~ree ; ti~at th~~ :`ore~ a i d indehtedness
~ ~fated in Paragraph I abuve i5 due accordin~a to the ter,.:s ar:d conditions of the
' a`oresaid note and n~ort~~a~te and any ir.odifi;.ation thercr~f ~~vitho~~t defense or offset
ar~d further agrees to be liable for said indebtedness as fully and to the same ex-
tent as if the Qwner(s) aras the ori~inal maker.thereon. In addition, the Owner(sj
~,,rees to personally perform and to fully abidc~ by all the ter~ns and conditions set
forth in said note and rr;ortqage and this ac~reeirent.
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3. The Associati3n recoqnizes the Owner(t) as the ~h1i~~or(s) on the
subject loan, approves the credit of same and hereby releases the ori~inal (lbiigor(s)
~ From further obl igatians or 1 iabi 1 ity under the ~~:ot't~Jd~;f~ o~~ note referred to above.
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4. Except as specifically desigr~ated 'nerein, nothinc; here ~hall ronstitute
t3 change or amendment to the aforementioned promissory note and ~nortgac~e, the provi-
' sions of which are specifically reaffirmed by the Obli~or(s)
5. This Agree~rent is bindinc~ upon the heirs, ner;nnal reE~resentatives,
~~ccessors and assiyns of the parties.
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Booi ~ PecE
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