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STATE OF FLORIDA )
ASSUMPTION OF NOTE, MORTGAGE, SECURITY
COUNTY OF ST.LUCIE ; AGREEMENT AND RELATED LOAN DOCUMENTS
CROSS .REFERENCE:
A. Mortgage Deed dated 19 October 1973, recorded in OR Book
220, page 1953, et seq., St. Lucie County, Florida, Public
Records (hereinafter "said Mortgage" and "said Records");
B. Assignment of Mortgage Deed, dated 12 September 1974, re-
corded in OR Book 232, page 1292, "said Records";
C.. Forebearance and Modification Agreement, dated 26 July
1979, recorded in OR Book 320, page 403, et seq., "said
Records" ("said Forebearance Agreement"~;
D. Assignment of Lease Agreement, dated 26 July 1979, re- _
corded in OR Book 320, page 455, "said Records";
E. Two (2) Security Agreements (Chattel Mortgages); one
dated 7 November 1973 and one dated 26 July 1979 ("said
Security Agreements");
F. UCC-l, Financing Statement, dated .tip~PrL /%p~ and
filedi'1rIA~. /3, /980, perfecting security-in~eriests of
two Security Agreements dated 7 November 1973 and 26
July 1979;
f G. Assignment of Lease, 3
~ dated P / % and recorded in Or Book, page 7~,
"said Records Lease Assignment).
The undersigned, Triple T Inns of Ft. Pierce, Inc., a Florida cor-
poration ("Triple T"), for and in consideration of the conveyance to it by
Bears Nest, a Florida corporation, of the leasehold of the premises de-
~ scribed in said Mortgage and said Lease Assignment (which Mortgage, as
modified by said Forebearance Agreement, constitutes a first lien on such
I
~ leasehold and the underlying fee), hereby-ASSUMES and agrees to pay the
obligations secured by said Mortgage, and said Security Agreements, which
obligations are evidenced by a promissory note dated 7 November 1973 in
the principal amount of $2,140,000.00 (said Note), in strict accordance
with the manner and terms of said Note and Mortgage and said Security Agree-
- ments, as each has been modified by said Forebearance Agreement.
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~ ~ The undersigned agrees further to perform all the obligations provided
in said Note, said Mortgage and said Security Agreements, and said Fore-
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Gss AA~,eas l~ bearance Agreement, in the manner and in all respects as therein provided,
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P~ and hereby irrevocably covenants and agrees that it is fully bound for the
6r~'ri°y` ~c ~ a ent and erforman of ~ ~
~ ~ p ym p ce all such obligations.
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This Assumption is and shall be binding upon the successors and ~
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