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or rights to set off, if any, against the Lender, its predecessors, successors and assigns
with respect to the Mortgage.
3. Lender consents to the transfer of the real property encumbered by the
Mortgage to Purchaser, provided that, by such consent, Lender does not waive any right
to strict enforcement of the terms and conditions of the Mortgage.
4. Nothing herein contained shall be deemed a consent or approval by the
Lender to any subsequent conveyance, transfer, or sale of the property encumbered by the
Mortgage, without specific written consent thereto.
5. The credit of the Purchaser has been examined and approved by Lender.
Lender agrees that Richard Truchot and Linda Campbell Truchot, aka Linda Campbell,
husband and wife, Mortgagors under the Mortgage, and the Sellers of the real property
encumbered by the above described Mortgage (hereafter, the "Seller"), and any and all
mortgagors who preceded the Seller and who had assumed personal liability on the
Mortgage, to the extent obligated, are hereby released from any further liability under the
Mortgage, effective upon the consummation of the sale to Purchaser of the real property
encumbered by the Mortgage and the execution and delivery of this Mortgage
Assumption Agreement as herein provided. Upon the release of the Seller, no deficiency
judgment will be taken against the Seller.
6. This Mortgage Assumption Agreement shall not be effective until
executed by all parties hereto with a fully executed original or counterpart received by the
Lender.
7. This Mortgage Assumption Agreement shall be binding upon the parties
hereto, their respective successors, representatives, nominees, and assigns.
IN WITNESS WHEREOF, the parties hereto have executed this Mortgage
Assumption Agreement the day and year hereinabove written.
PURCHASER: LENDER:
Stonebrook Real Estate, Inc.,
a Utah Corporation
BY:
4S9
R 1 BERT L. SP CE'/
President
Mortgage Assumption Agreement
2
ROBRT W. WELLS
686
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STATE 0
ATTEST:
COUNTY OF
Secretary BILLIE L. WELLS
STATE OF 1,� L M ,3
COUNTY OF cr
SS.
This Instrument was acknowledged before me this day o1 a000, by
,,,,,,,,j obert L. Spicer, President of Stonebrook Real Estate, Inc.
My Commission expires: 2-2L,.02.
This Instrument was ack
Robert W. Wells.
My Commission expires:
SS.
Mortgage Assumption Agreement
3
NOTARY PUBLI
NO RY PUBLIC
688
!edged before me this day of May, 2000, by
toot 'Irby saildx3 •wwo3 An
r. Awno3 opeao0 13
m VINN0iI1V3 311811d A8V1ON
99IS6I I A'ww03
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krula ioas
STATE OF
SS.
COUNTY OF c;/ C alliCJQ
This Instrument was acknowledged before me this day of
Billie L. Wells.
My Commission expires:
Mortgage Assumption Agreement
4
NOTARY PUBLIC
2000, by
690
rn MILLE9
Comm. 11195166 rn
NOTARY PUBLIC CALIFORNIA
�-aG EI Dorsdo County .a
My Comm. Expires Aug. 31, 2�
s