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ASSUMPTION AND MODIFICATION AGREFMENT
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_ ~TNIS AGREEMENT made this 3vday of D , 1969 ~
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between Eadinqton Fruit Company, a California corporation, D.A. ~
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Collins and Paul F. Eadington, tradinq and doinq business as ~
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E. C. ~ E. RANCHES, a Co-Partnership; Robert J. Ca?nnon and ~
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Betty B. Cannon; Donald P. McDonnell and Marilynn J. McDonnell;
M.H. Lockett; and Kenneth E. Waggener and Winifred Waggener
(hereinafter collectively referred to as the "First Party");
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BLUE GOOSE GROWERS, INC., a California corporation ( hereinafter
~ re~erred to as the "Second Party"3; and THE MUTUAL LIFE INSURANCE
~ COMPANY OF NEW YORK ( hereinafter referred to as the "Third
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Party"). ~
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~ WHEREAS, Third Party is the holder of certain notes
~ made by Second Party, all being dated April 25, 1966, evidencinq
. a total oriqinal principal obligation of $127,000.00 and secured '
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O by Mortgaqes of even dates therewith, recorded respectively -
` in Official Records Book 145, Paqe 327, Official Records Book 145,
C~ Page 323, and Official Records Book 145, Paqe 336, in the Office
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! ~ of the Clerk of the Circuit Court in St. Lucie County, Florida, `
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~ and
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~ WHEREAS, First Party has purchased all or a portion
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E of the premises described in said Mortgages from Second Party,
~ hav.e re uested Third Part not to exercise its o tion
and both q y P
~ under said Mortqaqes to declare said Notes immediately due and
~ payable in the event of a transfer of said premises,~which #
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option Third Party is willinq not to exercise, provided the
rate of interest on said Notes is increased;
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NOW THEREFORE, in consideration of the mutual promises
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F of the parties hereto, and for other valuable consideration, it,~`~
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~ is agreed as follows: a'~ ~
~ A. First Party~, (1) hereby assumes payment of the
~ 108 , 000 . 00
~ unpaid principal balance of ~Q~~t~Od together with interest
~ , (initi~})
~ thereon fsan ( see belox) , urider said Notes and a~-~
n
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~ Mortqages; (2) assumes all'the covenants, conditions, and
~ provisions contained therein, and aqrees to be bound for the due ~
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~ Zoan No. A.mount Rate Accrued From )M'''~'
~ 9292-M .,t~A9' ssi,ooo. 6 1./2~ July 19~,9
9289-r~ 19, 040 6 1/2°~6 July 1, 1969 c~.attiau.~
~ 929o-r~s 3s,ooo 6 i/2;6 Plarch 1, ~969
~ socr.lc~i~ E~sE 34 _
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