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

Prepared by U.S. Legal Forms, Inc. Copyright 2016 - U.S. Legal Forms, Inc. STATE OF NEBRASKA ASSUMPTION AGREEMENT DEED OF TRUST/MORTGAGE Control Number – NE – ED1014 NOTES ON COMPLETING THESE FORMS The form(s) in this packet contain “form fields” created using Microsoft Word. “Form fields” facilitate completion of the forms using your computer. They do not limit you 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 in this button and the form fields will be visible. In order to use the form fields properly, it is necessary to “lock or protect” the document. If you wish to make any changes in the body of the form, it is necessary for you “unlock” or “unprotect” the form. 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DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of Nebraska. All Information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem we suggest that you consult an attorney. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U. S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES WHATSOEVER (INCLUDING, WITHOUT LIMITATION DAMAGES FOR LOSS OF 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 and Return to: (name and address) ____________________________________ ___________________________________ ___________________________________ ____________________________________ ASSUMPTION AGREEMENT (Release of Original Mortgagors) 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 or Mortgage dated       and recorded in Book       at Page ______ of the Public Records of the Register of Deeds for       County, State of Nebraska . 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 or 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 $       Assumption Agreement Page 1 of 9 Accrued taxes $       Accrued hazard insurance $       FHA M.I. or P.M.I. $       Total $       The total amount above shall be paid 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:                         Type or Print Name Witness: Address:                   Witness Borrower (if individual) Address:                         Type or Print Name       Witness: Address:             Assumption Agreement Page 2 of 9       Witness Borrower (if corporation) Address:             By:             Witness: Type or Print Name Address:                         Title Witness Purchaser (if individual) Address:                         Type or Print Name Witness: Address:                   Witness Purchaser (if individual) Address:                         Type or Print Name Witness: Address:                   Assumption Agreement Page 3 of 9 Witness Purchaser (if corporation) Address:             By:             Type or Print Name Witness: Address:                   Title       Witness Lender(if individual) Address:                         Type or Print Name Witness: Address:                   Witness Lender(if individual) Address:                         Type or Print Name Witness: Address:                   Assumption Agreement Page 4 of 9 Witness Lender(if Corporation) Address:             By:             Type or Print Name Witness: Address:                         Acknowledgment of Individual – Borrower(s) State of Nebraska County of __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person). ____________________________________ Notary Public Serial Number, if any:             Type or Print Name State of Nebraska County of __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person). ____________________________________ Notary Public Serial Number, if any:             Type or Print Name Assumption Agreement Page 5 of 9 Acknowledgment of Corporation – Borrower State of Nebraska County of __________________ On this ______ day of ____________ , 20 ______ , before me a Notary Public, duly commissioned and qualified in said County and State, personally appeared ______________________________ , of ________________________ , a __________________ corporation, to me personally known to be the __________________ of said corporation and the identical person who signed the foregoing instrument and acknowledged the execution thereof to be his/her voluntary act and deed as such officer and the voluntary act and deed of said corporation. Witness my hand and notarial seal this ______ day of __________________ , 20 ______ ____________________________________ Notary Public Serial Number, if any:             Type or Print Name Acknowledgment of Individual – Purchaser(s) State of Nebraska County of __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person). ____________________________________ Notary Public Serial Number, if any:             Type or Print Name Assumption Agreement Page 6 of 9 State of Nebraska County of __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person). ____________________________________ Notary Public Serial Number, if any:             Type or Print Name Acknowledgment of Corporation – Purchaser State of Nebraska County of __________________ On this ______ day of ____________ , 20 ______ , before me a Notary Public, duly commissioned and qualified in said County and State, personally appeared ______________________________ , of ________________________ , a __________________ corporation, to me personally known to be the __________________ of said corporation and the identical person who signed the foregoing instrument and acknowledged the execution thereof to be his/her voluntary act and deed as such officer and the voluntary act and deed of said corporation. Witness my hand and notarial seal this ______ day of __________________ , 20 ______ Assumption Agreement Page 7 of 9 ____________________________________ Notary Public Serial Number, if any:             Type or Print Name Acknowledgment of Individual – Lender(s) State of Nebraska County of __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person). ____________________________________ Notary Public Serial Number, if any:             Type or Print Name State of Nebraska County of __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person). ____________________________________ Notary Public Serial Number, if any:             Type or Print Name Acknowledgment of Corporation – Lender State of Nebraska Assumption Agreement Page 8 of 9 County of __________________ On this ______ day of ____________ , 20 ______ , before me a Notary Public, duly commissioned and qualified in said County and State, personally appeared ______________________________ , of ________________________ , a __________________ corporation, to me personally known to be the __________________ of said corporation and the identical person who signed the foregoing instrument and acknowledged the execution thereof to be his/her voluntary act and deed as such officer and the voluntary act and deed of said corporation. Witness my hand and notarial seal this ______ day of __________________ , 20 ______ ____________________________________ Notary Public Serial Number, if any:             Type or Print Name Assumption Agreement Page 9 of 9