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ASSUMPTION AGREEMENT
THIS AGREEMENT made this ~ day of February,
-1980 between JOHN. D. BACRE, a married individual (hereinafter
referred to as the "First Party"); OJAI RANCH & INVESTMENT
COMPANY, INC., a California corporation; OLIVER A. FOLCRE,
an individual; and SAM PERICONE and MARY L. PERICONE, his
wife, (herein collectively referred to as the."Second Party");
and EADINGTON FRUIT COMPANY, a California corporation, and
PAUL F. EADINGTON, trading and doing business as E. C. & E.
. RANCHES, a co-partnership; ROBERT J. CANNON and BETTY B.
CANNON, his wife; DONALD P. McDONNELL, an individual;-
MARIIrYNN J. McDONNELL, an individual; MELVIN H. LOCKETT as
Trustee of the MELVIN H. LOCRETT 1978 REVOCABLE TRUST dated
April 24, 1978; and KENNETH E. WAGGENER and WINIFRED WAGGENER,
his wife, (herein collectively refered to as "Third Party").
WHEREAS, Third Party. is the holder of a certain
note made by Second Party dated February 1980, evidencing
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a total original principal obligation of $586,269.09 and
! secured by a mortgage of even date therewith, duly recorded
or to be recorded in the office of the clerk of the circuit
court of St. Lucie County, Florida, and
WHEREAS, First Party has purchased all or a portion
of-the premises described in said mortgage from Second
Party, and both have requested Third Party not to exercise
its option under said mortgage to declare said note immediately
due and payable in .the event of a transfer of said premises,
which option Third Party is willing not to exercise, provided
this Assumption Agreement is consumated;
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