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' WHEREAS, at the date hereof, the unpaid principal
balance on the Note is $ 31,588.03 , and -
interest has been paid thereon to July 1st ,
19 79 and
WHEREAS, Mortgagors have conveyed or will convey
the premises described in the Mortgage to Grantees, and
as part of consideration for such conveyance, Grantees
have agreed to assume and agree to pay the indebtedness
secured by the Mortgage; and
WHEREAS, under the terms of the Mortgage, Mortgagee
may declare the indebtedness secured by the Mortgage
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~ due and payable at once because of said conveyance; and
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WHEREAS, Grantees have made application to Mortgagee.
and requested it to (a) approve Grantees' credit; (b)
waive tiortgagees' right to accelerate the indebtedness; -
(c) advance credit to Grantees in accordance with this
Agreement; and
47HEREAS, upon condition that this Agreement be
executed, Mortgagee has agreed to forebear the aforesaid
right of acceleration in this instance and its right to
payment in full of the indebtedness secured by the
Mortgage at this time, and to advance credit to Grantees
in the amount of the indebtedness; and ,
WHEREAS, the Mortgage provides that sho~:ld Mort-
gagee permit an assumption of the indebtedness, the -
N,ortgagor shall be released from liability.
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~~,~K315 Pa~E 54
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