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ASSUMPTION AND MODIFICATION AGREEMENT
THIS ASSUMPTION AND i+SuulFi%AlOty AGFcEEt~Ei~iT is
_ entered into this 17th day of _ July- ,
°:~"--o 19 79 , by and between First Newport Realty Investors,
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~ formerly Alison Mortgage Investment Trust, (hereinafter
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-1 cal led "Mortgagee") , Merrill B. -Pugmire and Judith A. Pu mire
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y; (hereinafter cal led "Mortgagors, " whether one or more
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than one) , and M. Bruce Mergers and Billie C. Mergers
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~ (hereinafter called "Grantees," whether one or more
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rift than one) .
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~ W I T N E S S E T H:
~~'3 C S WHEREAS, Mortgagors have given to Allstate Enterprises
t' Mortgage Corporation, an Ohio corporation, (herein,
"Allstate"), a certain mortgage, dated December 20 ,
19 76 , recorded in Official Records Book 262 , Page
204 , of the Public Records of St. Lucie County,
Florida (said mortgage is hereinafter called the "Mortgage");
and -
WHEREAS, the Mortgage secures an indebtedness
evidenced by a Note executed by Mortgagors on or about
December 20 , 19 76 (said note is hereinafter
called the "Note"); and
WHEREAS, Allstate assigned its interest in the
Mortgage and Note to Finisterre Corporation, and Finisterre
Corporation assigned its interest in said Mortgage and
Note to First Newport Realty Investors, a California
/ „ ~p business trust; and : ~-.~f- ~ MYIREMt o? TAXEf
DHE ON CLASS 'C' IMTAMCtdEE ?EIISOtIGI PROPERTr.
~ ~ PUBSURNT TO tNAPTER Tt-I:A. ACTS OF 1!
BUQK~~4 Pl.GE AOOEA PWTi~As
FNRI-Oceana 7/79 CIERI( CipCMf ~ ~ ~ ~
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