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

Prepared by U.S. Legal Forms, Inc. Copyright 2016 - U.S. Legal Forms, Inc. STATE OF NEVADA ASSUMPTION AGREEMENT – DEED OF TRUST Control Number – NV – ED1014 This packet contains the following: 1. Instructions ; and 2. Forms. 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. 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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. APN #:       Recording Requested By:       Return Documents to: Name:       Address:       City/State/Zip:       Send Tax Statements to: Name:       Address:       City/State/Zip:       ASSUMPTION AGREEMENT (With Release of Original Borrower) 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 dated ______________________________ and recorded in Book ____________ at Page ____________ of the Public Records of ____________ County, Nevada. 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 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 $ __________________ Assumption Agreement Page 1 of 9 Accrued hazard insurance $ __________________ FHA M.I. or P.M.I. $ __________________ Total $ __________________ In all other aspects, all terms and conditions of said note shall remain in full force and effect. 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 Page 2 of 9             Witness: Address:                               Witness Purchaser (if individual) Address:                         Witness: Address:                               Witness Purchaser (if individual) Address:                         Witness: Address:                               Witness Purchaser (if corporation) Address:                         Witness: Address:                               Assumption Agreement Page 3 of 9 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) State of Nevada, County of       Assumption Agreement Page 4 of 9 The foregoing instrument was acknowledged before me on       , (Date) by       . (Full Name of Signor) Notary Public, State of       (Seal)       Print or Type Name My Commission Expires:       State of Nevada, County of       The foregoing instrument was acknowledged before me on       , (Date) by       . (Full Name of Signor) Notary Public, State of       (Seal)       Print or Type Name My Commission Expires:       Acknowledgment of Corporation – Borrower State of Nevada, County of       The foregoing instrument was acknowledged before me on       , (Date) by       , as       (Name of Signor) (Position or Title) of       , a       corporation. (Name of Corporation) (State of Incorporation) Assumption Agreement Page 5 of 9 (Seal) Notary Public, State of       My commission expires:       Type or Print Name Acknowledgment of Individual – Purchaser(s) State of Nevada, County of       The foregoing instrument was acknowledged before me on       , (Date) by       . (Full Name of Signor) Notary Public, State of       (Seal)       Print or Type Name My Commission Expires:       State of Nevada, County of       The foregoing instrument was acknowledged before me on       , (Date) by       . (Full Name of Signor) Notary Public, State of       (Seal)       Print or Type Name My Commission Expires:       Assumption Agreement Page 6 of 9 Acknowledgment of Corporation – Purchaser State of Nevada, County of       The foregoing instrument was acknowledged before me on       , (Date) by       , as       (Name of Signor) (Position or Title) of       , a       corporation. (Name of Corporation) (State of Incorporation) (Seal) Notary Public, State of       My commission expires:       Type or Print Name Acknowledgment of Individual – Lender(s) State of Nevada, County of       The foregoing instrument was acknowledged before me on       , (Date) by       . (Full Name of Signor) Notary Public, State of       (Seal)       Print or Type Name Assumption Agreement Page 7 of 9 My Commission Expires:       State of Nevada, County of       The foregoing instrument was acknowledged before me on       , (Date) by       . (Full Name of Signor) Notary Public, State of       (Seal)       Print or Type Name My Commission Expires:       Acknowledgment of Corporation – Lender State of Nevada, County of       The foregoing instrument was acknowledged before me on       , (Date) by       , as       (Name of Signor) (Position or Title) of       , a       corporation. (Name of Corporation) (State of Incorporation) (Seal) Notary Public, State of       My commission expires:       Assumption Agreement Page 8 of 9 Type or Print Name Assumption Agreement Page 9 of 9