An assumption of mortgage presented for filing and recording must:
    
    
        
        (a) 
         Be signed by or on behalf of each original mortgagor, each mortgagee, and each assuming party; and
     
    
        
        (b) 
         Recite the following:
     
    
        
        (1) 
         The name and address of each original mortgagor and the interest in the vessel mortgaged; and
     
    
        
        (2) 
         The name and address of each assuming party and the interest in the mortgage assumed.