AZ vs. CA:07 California Exhibits, Vol. VII; Nos. 326-370

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said Riverside County, in book 443, of Deeds, page 1 et seq. made for the purpose of securing a bonded indebtedness of said Palo Verde Mutual Water Company in the original amount of $500,000.00, a portion thereof, to-wit: the sum of $150,000.00 having been heretofore paid, and the unpaid and outstanding bonded indebtedness secured by said deed of trust being now the sum of $350,-000.00, together with interest thereon from August 1, 1925, at the rate of 6% per annum, the said unpaid bonds being serial and bearing interest at the rate of 6% per annum, payble semi-annually, on the first days of August and February of each year; the said deed of trust and the said record thereof are hereby referred to and by reference the same are hereby made a part of this indenture. The said Palo Verde Irrigation District, by acceptance of this deed, promises and agrees that it will assume and pay each and all of the bonds secured by said deed of trust and now remaining unpaid, as aforesaid, and all interest hereafter becoming due or payble upon each and all of said bonds, and all other amounts specified in said deed of trust to be paid by said Mutual Water Company, on or before the dates when said bonds and any of said other payments become due respectively, and that it will do and perform each and all of the things and acts specified in said deed of trust to be done and performed by said Palo Verde Mutual Water Company; and the said Palo Verde Irrigation District, by the said acceptance of this deed, assumes the due and punctual payment of the principal and interest of all of said unpaid bonds, according to their tenor, and also the punctual performance and observance of all of the covenants and conditions of said deed of trust, specified therein to be performed or observed by said Mutual Water Company.