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~ A G R E E M E N T
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I Know all men by these presents that I, William W. Arnold,
':party of the first part, in consideration of the sum of Ten
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~(s10.00) Dollars and other valuable considerations received from
~;or on behalf of Safeco Insurance Company of America and General
~~Insurance Company of America, Washington corporations, parties of
'the second part, do hereby grant, sell, assign, transfer and set
over unto the said parties of the second part, all of party of
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the first parts interest in and to a certain mortgage bearing
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: date the 23rd day of August, 1974, made by Thomas J. Geiger,
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,~individually, and as trustee, in favor of William W. Arnold and
~~recorded in Official Record Book 231, Page 516, Public Records
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~ of St. Lucie County, Florida, upon the peice or parcel of land
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;situate and being in said county and state as described in said
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;mortgage, together with a note or obligation described in said
j; mortgage and the monies due and to become due thereon.
The mortgage and note described above has been assigned to
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~ First National Bank of Ft. Pierce as security for corporate
` ~ borrowing of W.W. Arnold Construction Co., Inc., a Florida
C corporation. See Exhibits "A", "B" and "C" attached. The intent
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~ i! of this assignment is to transfer to Safeco Insurance Company of
~ +~America and General Insurance Company of America, all of William
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~ W. Arnold's present interest in said note and mortgage, as
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; security, subject to the prior security interest of First
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National Bank of Ft. Pierce, for monies to be loaned by General
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~ Insurance Company of America and Safeco Insurance Company of
America to W.W. Arnold Construction Co., Inc. pursuant to the ~
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„ 3 terms of Exhibit "D" attached hereto. Upon repayment of the
o~~ monies advanced by Safeco Insurance Company of America and General
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M;; Insurance Company of America to W.W. Arnold Construction Co., Inc.~
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~ b by W.W. Arnold Construction Co. , Inc. or its designee, Safeco (
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3.~ x o;; Insurance Company of America and-General Insurance Company of
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A~~ i' America agree to reassign to William W. Arnold all of the interest
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