HomeMy WebLinkAbout1745 Mortgagor hereby assumes and agrees to pay all of the indebtedness secured by the
Promissory Note and Second Promissory Note, and assumes and agrees to be pound by
and perform all of the terms and conditions of the Loan Agreement and Loan
Documents.
11. The Property described in the above Mortgage is and shall remain
subject to the first and valid lien and encumbrance of said Mortgage, and nothing
herein contained or done shall affect oc be construed to affect the lien or
encumbrance of the Mortgage or the priority thereof over other liens or
encumbrances, or, except as herein expressly provided, to-release or affect the
liability of any other party or parties whomsoever, who may now or hereafter be liable
under or on the account of said Promissory Note and Second Promissory Note and/or
Mortgage.
12. Nothing herein contained invalidates or shall invalidate any security
now held by the Mortgagee for said debts, nor impair nor release any covenant,
condition, agreement or stipulation in said Notes and Mortgage described above, and
the same, except as herein specifically states, shall continue in full force and effect,
and the undersigned Assuming Mortgagor further covenants and agrees to perform,
comply with and abide by each and every of the covenants, agreements, conditions and
stipulations of said Promissory Note, Second Promissory Note and Mortgage.
13. Except as modified hereby said Mortgage remains unmodified,
unaltered and unchanged, and Mortgagee, Mortgagor and Assuming Mortgagor hereby
each reaffirm said Mortgage as modified hereby.
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e 14. This Stipulation shall be binding upon and shall inure to the benefit of
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the Assuming Mortgagor and. Mortgagee, their successors and assigns.
~ Signed, sealed and delivered HUTCHINSON LSLAND LIMITED
in the presence of: PARTNERSHIP, by its General Partner
Gulf Oil Realty Company f/k/a
• Gulf Oil Real Estate , G t..
• Development Company (GORC) ~'i 4•, • •
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• HUTCHINSON ISLAND LIMITED, INC., -
~ a Delaware corporation authorized
• ~ to transact business in the State
j of Florida ~
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