EXHIBIT 10.25 ------------- ASSIGNMENT AND ASSUMPTION AGREEMENT ----------------------------------- THIS ASSIGNMENT AND ASSUMPTION AGREEMENT made this 30TH DAY OF SEPTEMBER, 1998, 1998, by and between TOBISHIMA PACIFIC, INC., a Hawaii corporation,...Assignment and Assumption Agreement • November 13th, 1998 • Amfac JMB Hawaii Inc • Real estate operators (no developers) & lessors • Hawaii
EXHIBIT 10.26 ------------- PURCHASE MONEY PROMISSORY NOTE SECURED BY MORTGAGE --------------------------------------------------Purchase Money Promissory Note • November 13th, 1998 • Amfac JMB Hawaii Inc • Real estate operators (no developers) & lessors
FOR VALUE RECEIVED, AMFAC PROPERTY INVESTMENT CORP., (the "Maker") promises to pay to the order of TOBISHIMA PACIFIC, INC., at 201 E. Sandpointe, Suite 450, Santa Ana, California 92707 and its successors and assigns, or at such other place as the holder hereof may from time to time designate, the principal sum of NINE MILLION SIX HUNDRED THOUSAND AND NO/100 DOLLARS ($9,600,000.00), with interest thereon from the date of this Note until paid, at the rate of eight and one-half percent (8.50%) per annum (the "Interest Rate") on the unpaid balance of principal remaining from time to time unpaid. Interest hereunder shall be computed upon the basis of the actual number of days elapsed and on the basis of a 360-day year.
