Fill and Sign the Assumption Agreement of Deed of Trust and Release of Original Mortgagors Mississippi Form

© 2016 - U.S. Legal Forms, Inc.       MISSISSIPPI ASSUMPTION OF MORTGAGE/DEED OF TRUST Control Number: MS-ED1014 I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand. It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible. By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner. II. 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OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OR PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.       Prepared by: Return to:                                                 State of Mississippi County of ____________ ____________ Judicial District ASSUMPTION AGREEMENT WHEREAS ____________________________________ , hereinafter referred to as “Lender,” loaned ______________________________ or ______________________________ , a __________________ corporation, hereinafter referred to as “Borrower(s),” whether one or more, the sum of ____________________________________ Dollars ($ __________________ ), as evidenced by note and deed of trust/mortgage dated ____________ and recorded in Book ______ at Page ______ of the Public Records of ____________ County, Mississippi. WHEREAS, said Borrower(s) has/have sold said property to the undersigned Purchaser(s) and said Purchaser(s) desire to assume and agree to pay said indebtedness and perform all the obligations of Borrower(s), and said Borrower(s) desire to be released from said obligations, and Lender is willing to accept said assumption and release said original Borrower(s). THEREFORE, for and in consideration of the premises and other good and valuable considerations, the undersigned Purchaser(s) hereby assume and agree to pay the indebtedness evidenced by said note and deed of trust/mortgage and perform all of the obligations provided therein, it being agreed and understand that as of this date said indebtedness is ________________________ Dollars ($ __________________ ), and that the interest rate shall be ____________ % per annum, and that the monthly payments shall be made beginning the ______ day of ____________ , 20 ______ , in the sum of as follows: Principal and interest $ __________________ Accrued taxes $ __________________ Accrued hazard insurance $ __________________ Assumption Agreement - 1 - FHA M.I. or P.M.I. $ __________________ Total $ __________________ per month, and that in all other aspects, all terms and conditions of said note shall remain in full force and effect, and Lender hereby releases and discharges said original Borrower(s) upon their personal obligation upon said indebtedness. This assumption by said Purchaser(s), if more than one, is joint and several and shall bind them, their heirs, personal representatives, successors and assigns. IN WITNESS WHEREOF, the parties have hereunto executed this instrument, this ______ day of __________________ , 20 ______ . Witness Borrower (if individual) Address:                   Witness: Address:                   Witness Borrower (if individual) Address:                   Witness: Address:                   Witness Borrower (if corporation) Address:             Assumption Agreement - 2 -       Witness: Address:                   Witness Purchaser (if individual) Address:                   Witness: Address:                   Witness Purchaser (if individual) Address:                   Witness: Address:                   Witness Purchaser (if corporation) Address:                   Witness: Assumption Agreement - 3 - Address:                   Witness Lender(if individual) Address:                   Witness: Address:                   Witness Lender(if individual) Address:                   Witness: Address:                   Witness Lender(if Corporation) Address:                   Witness: Address:                   Acknowledgment of Individual – Borrower(s) Assumption Agreement - 4 - State of Mississippi County of __________________ Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ______________________________ , who acknowledged that he/she/they executed the above and foregoing instrument. Notary Public My commission expires:       Type or Print Name State of Mississippi County of __________________ Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ______________________________ , who acknowledged that he/she/they executed the above and foregoing instrument. Notary Public My commission expires:       Type or Print Name Acknowledgment of Corporation – Borrower State of Mississippi County of __________________ Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ________________________ , who acknowledged that he/she is __________________ of ________________________ , a __________________ corporation, and that for and on behalf of the said corporation, and as its act and deed he/she executed the above and foregoing instrument, after first having been duly authorized by said corporation so to do. (Seal) Notary Public My commission expires:       Assumption Agreement - 5 - Type or Print Name Acknowledgment of Individual – Purchaser(s) State of Mississippi County of __________________ Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ______________________________ , who acknowledged that he/she/they executed the above and foregoing instrument. Notary Public My commission expires:       Type or Print Name State of Mississippi County of __________________ Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ______________________________ , who acknowledged that he/she/they executed the above and foregoing instrument. Notary Public My commission expires:       Type or Print Name Acknowledgment of Corporation – Purchaser State of Mississippi County of __________________ Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ________________________ , who acknowledged that he/she is __________________ of ________________________ , a __________________ corporation, and that for and on behalf of the said corporation, and as its act and deed he/she executed the above and foregoing instrument, after first having been duly authorized by said corporation so to do. Assumption Agreement - 6 - (Seal) Notary Public My commission expires:       Type or Print Name Acknowledgment of Individual – Lender(s) State of Mississippi County of __________________ Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ______________________________ , who acknowledged that he/she/they executed the above and foregoing instrument. Notary Public My commission expires:       Type or Print Name State of Mississippi County of __________________ Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ______________________________ , who acknowledged that he/she/they executed the above and foregoing instrument. Notary Public My commission expires:       Type or Print Name Acknowledgment of Corporation – Lender State of Mississippi County of __________________ Assumption Agreement - 7 - Personally appeared before me, the undersigned authority in and for said county and state, on this ______ day of __________________ , 20 ______ , within my jurisdiction, the within named ________________________ , who acknowledged that he/she is __________________ of ________________________ , a __________________ corporation, and that for and on behalf of the said corporation, and as its act and deed he/she executed the above and foregoing instrument, after first having been duly authorized by said corporation so to do. (Seal) Notary Public My commission expires:       Type or Print Name Assumption Agreement - 8 -