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California business trust; and
WHEREAS, at. the date hereof, the unpaid principal
balance on the Note is Fifty Thousand Sixty-Two and
92/100 ($50,062.92) Dollars, and'interest has been paid
thereon to April 1,.1979; and
WHEREAS, Mortgagors have conveyed the premises to
Gerald P. Vanderstyne and Vanderstyne has conveyed or
will convey the premises described in the Mortgage to
Grantees, and as part of consideration for such convey-
ance, Grantees have agreed tc assume and agree to pay
the indebtedness secured by the Mortgage; and
WHEREAS, under the terms of the Mortgage, Mort-
gagee may declare the indebtedness secured by the
Mortgage due and payable at once because of said convey-
ance; and
WHEREAS, upon condition that this Agreement be
3 executed, Mortgagee has agreed to waive the aforesaid
x
e right of acceleration in this instance and its right to
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payment in full of the indebtedness secured by the
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Mortgage at this time; and
WHEREAS, the Mortgage provides that should Mort-
gagee permit an assumption of the indebtedness, the
Mortgagor shall be released from liability.
NOW, THEREFORE, in consideration of the foregoing,
the covenants and conditions contained herein, and
F other good and valuable consideration, the receipt of
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Q SUS F~~E 2731
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