Ashton owned Woodsedge, a tract used for commercial purposes, in fee simple and thereafter mortgaged it to First Bank. She signed a promissory note secured by a duly executed and recorded mortgage. There was no "due on sale" clause, that is, no provision that, upon sale, the whole balance then owing would become due and owing. Ashton conveyed Woodsedge to Beam "subject to a mortgage to First Bank, which the grantee assumes and agrees to pay." Beam conveyed Woodsedge to Carter "subject to an existing mortgage to First Bank." A copy of the note and the mortgage that secured it had been exhibited to each grantee. After Carter made three timely payments, no further payments were made by any party. In fact, the real estate had depreciated to a point where it was worth less than the debt. There is no applicable statute or regulation. In an appropriate foreclosure action, First Bank joined Ashton, Beam, and Carter as defendants. At the foreclosure sale, although the fair market value for Woodsedge in its depreciated state was obtained, a deficiency resulted. First Bank is entitled to collect a deficiency judgment against 
Ashton only. Ashton and Beam only. Beam and Carter only. Ashton, Beam, and Carter. 