Document:

ex10_7.htm

    
      

      

    

    
      

      

    

    
      ASSUMPTION
        AGREEMENT

      

      THIS
        ASSUMPTION AGREEMENT, dated as of the ____________ day of April, 2008, by
        and
        among Duane C. Bennett as
        Trustee of Northeast Nominee Trust, a Trust with a corporation with a
        principal place of business at (the, “Borrower”), Duane C. Bennett, an
        individual with an address of 191 Chestnut Street, Springfield, Massachusetts
        (the, “Guarantor”) ; Front
        Street First Corporation, a Nevada corporation with an address of 191
        Chestnut Street, Springfield, Massachusetts; (“Front Street”) and CHICOPEE SAVINGS BANK (the
“Bank”), a /mutual savings
        Bank with a principal place of business of 70 Center
        Street, Chicopee, Massachusetts;

      

      W
        I T N
        ES S E T H:

      

      WHEREAS,  the
        Borrower and the Bank entered into a financing agreement pursuant to which
        the
        Borrower delivered to the Bank a note dated February 15, 2005, in the original
        principal amount of ONE HUNDRED AND EIGHTY FIVE THOUSAND AND 00/100
        ($185,000.00) DOLLARS (the “Note”) and, to secure its obligations under the
        Notes, Borrower granted the Bank a Commercial Mortgage and Assignment of
        Rents
        and Leases and a Loan and Security Agreement dated February 15, 2005, are
        hereinafter referred to as the (“Loan Documents”); and

      

      WHEREAS,
        Front Street is willing to assume all of the Borrower’s outstanding obligations
        under the Loan Documents; and

      

      WHEREAS,
        the Guarantor is willing to guaranty all of the obligations assumed by Front
        Street hereunder; and

      

      WHEREAS,
        the Bank is willing to accept such assumption, subject to the terms and
        conditions hereinafter set forth;

      

      NOW,
        THEREFORE, in consideration of the willingness of the Bank to accept such
        assumption, subject to the terms and conditions set forth herein, and for
        other
        good and valuable consideration, the sufficiency and receipt of which is
        hereby
        acknowledged, the parties hereto agree as follows:

      

      
        	
                1.  

              	
                Front
                  Street hereby agrees to assume all of the Borrower’s outstanding
                  obligations under the Loan Documents and agrees to perform in accordance
                  with the terms and conditions of each of the foregoing outstanding
                  obligations as if each were originally delivered Front Street.
                  Front
                  street obligations to perform under the Loan Documents shall not
                  be
                  affected or limited by any failure or default by the Borrower prior
                  to the
                  date hereof.

              

      

      

      
        	
                2.  

              	
                Guarantor
                  has duly executed and delivered to the Bank a guaranty of Front
                  Street
                  assumption of Borrower’s
                  obligations.

              

      

      

      
        	
                3.  

              	
                All
                  of the property described in the Mortgage shall remain in all respects
                  subject to the lien, charge and encumbrance of the Mortgage, and
                  nothing
                  contained in this Agreement shall affect or be construed to affect
                  the
                  lien, charge and encumbrance of, or warranty of title and/or
                  conveyance.  Additionally, except as expressly provided herein,
                  nothing contained in this Agreement and nothing done pursuant to
                  this
                  Agreement shall release or affect the liability of any party or
                  parties
                  which may now or hereafter be liable under or on account of the
                  Note
                  and/or the Mortgage.  Nothing contained in this Agreement of
                  done pursuant to this Agreement shall be construed to affect any
                  other
                  security or instrument, if any, held by the Mortgagor as security
                  for or
                  evidence of the indebtedness evidenced by the
                  Note.

              

      

      

      
        	
                4.  

              	
                This
                  Agreement shall inure to the benefit of the Bank and its successors
                  and
                  assigns including any subsequent holder or holders of the Note
                  and the
                  term “Bank” shall include any such holder or holders whenever the context
                  permits.

              

      

      

      
        	
                5.  

              	
                This
                  Agreement may be executed in any number of counterparts and by
                  the
                  different parties hereto on separate counterparts, each of which
                  when so
                  executed and delivered shall be an original, but all the counterparts
                  shall together constitute one and the same
                  instrument.

              

      

      

      
        	
                6.  

              	
                This
                  Agreement constitutes the entire contract between the parties hereto
                  and
                  shall supersede and take the place of any other instrument purporting
                  to
                  be an agreement of the parties hereto relating to the transactions
                  contemplated hereby.  This Agreement may not be changed orally
                  but only by an agreement in writing signed by the party against
                  whom any
                  waiver, change, modification or discharge is
                  sought.

              

      

      

      
        	
                7.  

              	
                This
                  Agreement including the validity thereof and the rights and obligations
                  of
                  the parties hereunder and thereunder, shall be construed in accordance
                  with and governed by the laws of the Commonwealth of
                  Massachusetts.

              

      

      

      IN
        WITNESS WHEREOF, the parties hereto
        have executed this Agreement as a sealed instrument as of the date first
        above
        written.

      

      CHICOPEE
        SAVINGS BANK

      

      
 

                                              .                                      
        By: /s/ Guida
        R. Sajdak 

      Witness                                                                    Guida
        R. Sajdak

                          Vice
        President

                  

                                                                                      
        FRONT STREET FIRST CORPORATION

      

      

      /s/
        Patricia
        Demers                                                     By: /s/
        Duane C. Bennett

      Witness                                                                      
        Duane C. Bennett

      

      

      

      /s/
        Patricia
        Demers                                                     By:
/s/
        Duane C. Bennett

      Witness                                                                      
        Duane C. Bennett

      

      

                     
        NORTHEAST NOMINEE TRUST

      

      

      /s/
        Patricia
        Demers                                                      By:
/s/
        Duane C. Bennett

      Witness                                                                      
        Duane C. Bennett , Trustee of

                            
        Northeast Nominee Trust

      

      

      

      COMMONWEALTH
        OF MASSACHUSETTS

      

      Hampden,
        ss.                                                                                                     

      

      Then
        personally appeared the above
        named, Guida R Sajdak, the Vice President of Chicopee Savings Bank and
        acknowledged the foregoing instrument to be the free act and deed of Chicopee
        Savings Bank, before me

      

      

        Notary
        Public

      My
        commission Expires:  August 1, 2008

      

      

      COMMONWEALTH
        OF MASSACHUSETTS

      

      Hampden,
        ss.                                                                                                     

      

      Then
        personally appeared the above
        named, Duane C. Bennett, and acknowledged the foregoing instrument to be
        his
        free act and deed, before me

      

      /s/
        Barry S. Lessard                                                                

      Barry
        S.
        Lessard, Notary Public

      My
        commission Expires:  6-20-2008

      

      

      COMMONWEALTH
        OF MASSACHUSETTS

      

      Hampden,
        ss.                                                                                                     

      

      Then
        personally appeared the above
        named, Duane C. Bennett, Trustee of Northeast Nominee Trust. And acknowledged
        the foregoing instrument to be the free act and deed of Northeast Nominee
        Trust,
        before me

      

      /s/
        Barry S. Lessard                                                                

      Barry
        S.
        Lessard, Notary Public

      My
        commission Expires:  6-20-2008

      

      

      COMMONWEALTH
        OF MASSACHUSETTS

      

      Hampden,
        ss.                                                                                                     

      

      Then
        personally appeared the above
        named, Duane C. Bennett, President, Hubbard Street, Inc. and acknowledged
        the
        foregoing instrument to be the free act and deed of Hubbard Street, Inc,
        before
        me

      

      /s/
        Barry S. Lessard                                                                

      Barry
        S.
        Lessard   , Notary Public

      My
        commission Expires:  6-20-2008ex10_8.htm

    
      

      

    

    
      
        Bk
          14826
          Pg498 #12490 

      

      
        02-16-2005
          @ 02:39p 

      

       

      
        	
                 

              	
                KNOW
                  ALL MEN
                  BY THESE PRESENTS, THAT, WE, JAMES
                  L. DOMINGOS
                  and ANN T. DOMINGOS
                  AKA
                  ANN J. DOMINGOS of 7 Carriage Road, Chicopee, Massachusetts for
                  consideration paid, and in full consideration of TWO HUNDRED SIXTY
                  THOUSAND ($260,000.00) Dollars grants to DUANE
                  C. BENNETT AS TRUSTEE OF
                  NE NOMINEE TRUST OF 191 Chestnut Street, Springfield,
                  Massachusetts, with warranty covenants, * “And as part of an IRC Section
                  1031 Tax Deferred Exchange.” 

              

      

      

      
        	
                 

              	
                EXHIBIT
                  “A” 

              

      

       

      
        	
                 

              	
                Executed
                  as a sealed instrument this 14th
                  day of February, 2005 

              

      

      

      
        	
                 

              	
                /s/
                  James J Domingos                

              

      

      
        	
                 

              	
                                                                                                                                                                                           
James
                  J. Domingos

              

      

      

      
        	
                 

              	
                /s/
                  Ann J Domingos                   

              

      

      
        	
                 

              	
                                                                                                                                                                                                       
                  Ann J. Domingos 

              

      

      

      
        	
                 

              	
                THE
                  COMMONWEALTH OF MASSACHUSETTS 

              

      

      

      
        	
                HAMPDEN,
                  ss.

              	
                February
                  14, 2005 

              

      

      

      
        	
                 

              	
                On
                  this 14th day
February,
                  2005, before
                  me, the undersigned notary public, personally appeared JAMES L. DOMINGOS and
                  ANN T. DOMINGOS
                  AKA ANN
                  J. DOMINGOS and proved to me through satisfactory evidence of
                  identification, which were Massachusetts Driver’s Licenses, to be the
                  person whose names are signed on the preceding or attached documents,
                  and
                  who swore or affirmed to me that the contents of the documents
                  are
                  truthful and accurate to the best of their knowledge and belief
                  and
                  acknowledge to me that they signed it voluntarily for its stated
                  purpose.
                  

              

      

      

      

                                                                                                            
         /s/ Robert J.
        Eastwood                                            

      
        	
                 

              	
                Notary
                  Public Robert J.
                  Eastwood 

              

      

                                                                                                             
        My commission expires: September 29, 2006

       

      Bk
        14826
        Pg 499 #12490

      

      

      

      

      EXHIBIT
        “A”

      

      The
        land
        in Chicopee situated on the Southerly side of Front Street and bounded and
        described as follows:

      

      Beginning
        at the Northwesterly corner of land formerly of Jesse Bannister, now or formerly
        of one Rutka; and running thence SOUTHERLY on said land now or formerly of
        Rutka, two hundred twenty-three (223) feet, more or less, to land formerly
        of
        George M. Stearns, now or formerly of Morris Leahy thence WESTERLY on last-named
        land forty-nine (49) feet of land now or formerly of Isiaibel H Wright; thence
        NORTHERLY.  Thereon, two hundred eighteen (218) feet. More or less, to
        said Front Street; fifty-six (56) feet to the point of beginning.

      

      Being
        the
        same premise conveyed to the grantor herein by deed dated February 3, 1983
        and
        recorded in the Hampden County Registry of Deeds in Book 5385 Page 361.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]