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~ HAR80R FEb~RAL~SA~YI~V6S & ,LpAN hsSOCIATION
s MORT6AGE MODI`ft~Tlt)N, I~~II,SE Q~
~r~~S ANO ASSl~TION AGREEMENT 0.~ D
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Loan No. 23032590 Name:VICTOR BERGELSON j
:
~ PHYLLIS BERGELSON
THIS AGREEM~NT i s made thi s 9th da~y of JULY , 19 82 , by
and between NARBOR FEDERAL SAYINGS A~lb~T~iAFI ASSOC , orn~er y First~ederal
Savings and Loan Association of fort Pierce), hereinafter called the "Associa- -
~~,;'r'~ tion; and VICTOR BERGELSON AND PHYLLIS BERGELSON HIS WIFE ;
hereinafter ca t e er s. ' ~
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` WITNESSETH :
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ao WHEREAS, the Association owns and holds the original promissory note and
;r}.rrr mortgage executed on , 19 , evidencing a principal indebted-
ness on said date of , wh~mortgage is recorded in Offtcial
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}~3 ~ Re~ord Book 290 , page 573 o t e public records of ST. LUCIE County,
rf- Florida; and
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~4,~~ WNEREAS said mortgage provided that the Association may declare all of
7~~ d.
~ the suns secured by said mortgage to be immediately due and payable if all or any '
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k,y part of the property or any interest therein is sold or transferred without Asso-
~~~m~~ ciation's written consent; and {
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MHEREAS, title to said property is being transferred and conveyed to the
e ~ Owner(s) who wishes to obtain Association's consent to.said transfer and agree-
nent th~t 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 a rate
requested by the Association; -
- NOW, THEREFORE, in consideration of the covenants and promises contained
herein and for other good and valuable considerations, it is hereby agreed that ~
the aforesaid documents be modified as follows:
1. The undersigned Owner(s) f~ereby expressly assumes and agrees to Pay
the indebtedness represented by and due on the aforesaid promissory note and mort-
gage and any modification 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 JULY 9th . , 19 82 , 1s FIF7Y `THR ~
THREE HUNDR F - ~ ~ -
an that-t e interest rate on sa d n e tedness s a e~~9,25 per cent per annum,
beginning on JULY 9th , 1982 , and that comnencing on JULY-lOth , 1982 ,
! the Owner(s)_s a pay sa princ
p3 a~and interest in consecutive mont y instalT-
ments of FOUR HUNDRED FIFTY FIVE AND 43/100----------------(~ 455.43-------
; and a like s~n on t e lOth day of each month thereafter unt~ t e entire ~n e te -
i ness evidenced by the a€oresaid note and-na~~gage, as modified herein, is fully
! paid; except that any remaining indebtedness, if not sooner paid, shall be due and
~ payable on OCT~ER lOth , Yl2007.
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~ _ 2. The undersigned Owner(s) hereby agrees that the aforesaid indebtedness
E Stated in Paragraph 1 above is due according to the ter~s 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 ex- ~
~ tent as if the Oamer(s) was the original maker thereon. In addition, the Oamer(s) ~
~ agrees to personally perform and to fully abide by all the terms artd conditions set i
j forth in said note and mortgage and this agreement. -
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; 3. The Association recognizes the Owner(s) as the Obligor(s) on the
subject ioan, approves the credit of same and hereby releases the original Obligor(s)
3 ` from further obl~gations or liability under the mortgage or note referred to above.
' 4. Except as specifically designated herein, nothing here shall constitute
a change or amendment to the aforementioned promissory note and mortgage, the provi-
` sions of which are specifically reaffirmed by the Obligor(s) ~
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! 5. This Agreement is binding upon the heirs, personal representatives, ~
~ successors and assigns of the parties. . ;
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