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AS3DMPTION RIDBB
THIS ASSUMPTION RIDER is made this 31 st day of~
au us~t. 19 84 and
is ineorporated into and shall be deemed to amena and supplement the liitor
gage,~eed of
. Trust, or Deed to Secure Debt (the "Instrument"`) of the ~ame date given by the ~
u~er~~ned (the "Borrower") to secure Borrower's Note to c~ticor sav~n s of ~
° r (the "Lender'~ of the same date the ote and coveru~g =
. _
the property descr in the ~nstrumer~t and located at: ~
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10600 South QlA, Unit 201, Jensen Beach, Florida 33457
Property Addre~
s
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ADDITIONAI, COVHI~ANT. In addition to the covenents and agreements made in ~
the Instrument, Borrower and Lender further covertant an~ agree as follows:
,
Notwithstanding the covenants and terms contained in paragraph 1? of the
Instrument, Lender will permit person(s) purchasing the subject property from the
Borrower to assume Borrower's loan at Borrower's interest cate as established by the
most recent rate adjustment prior to the assumption. Lender will will charge the
purchaser(s) no more than one (1) point plus eustomar~y closing costs. However, in order
for the purehaser(s) to be entitled to the Borrower s existirg reote interest rate, ihe
followirig conditions must be met:
I. The purehaser(s) must meet the credit standards of Lender; and
2. If applicable, transfer of PMI coverage must be satisfactorily executed; and
3. This promise applies only to the then existing loan balanee over the remaining
term of Borrower's loan; and
4. While Lender will eharge only one (i) point and no appraisal charges, the
purchaser(s) must pay other customary e2osi.ng costs; arid
5. The purchaser must be an individual, not a partnership or a corporation; and
6. This progcam applies only to the first transfer of the subject property; and
7. Persons purchasing through foreclosure proceedings are not entitled to this
offe~.
IN WITNESS WHEREOF, Borrower has executed this Assumption Rider and theceby
has agreed to the terms and covenants contained herein.
,
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' ~ Gary R. Samwi~k Borrower
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S i c k Borrower
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Aa~sumptio~i RiderAB~ ' ~k ~ CLERK CIRCt11T COU~t
(~-F1~-1 (Rev. 6/84) 8f101( P~,'C-~~~ -
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