Fill and Sign the Assumption Agreement of Mortgage Form

Prepared by U.S. Legal Forms, Inc. Copyright 201 6 - U.S. Legal Forms, Inc. STATE OF MASSACHUSETTS Assumption Agreement of Mortgage and Release of Original Mortgagors Control Number – MA – ED1014 NOTE ABOUT COMPLETING THE FORMS The forms 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. If y ou do not see the gray shaded form fields, go 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 field s will be visible. The forms are locked which means that the content of the forms cannot be changed. You can only fill in the information in the fields. 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Assumption of Mortgage - 1 - Prepared By and After Recording Return to: ) ) ) ) ) ) Send Tax Statements to Grantee Name and Address): ) ) ) ) ) -------- Above This Line Reserved For Official Use Only -------- Reception Number of Deed of Trust: ASSUMPTION AGREEMENT WHEREAS ______________________________ hereinafter referred to as “Le nder,” loaned ______________________________ or ______________________________ , a ____________ , corporation, hereinafter referred to as “Borrower(s),” whether one or more, th e sum of ________________________ Dollars ($ ____________ ), as evidenced by Note and Deed of Trust or Mortgage dated __________________ , Reception No. ____________ , recorded in ____________ Book at Page ______ of the Public Records of the __________________ County Recorder, State of Massachusetts . 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 t o 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 $ __________________ FHA M. I. or P.M.I. $ __________________ Total $ __________________ per month, and that in all other aspects, all terms and conditions of sa id 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. Assumption of Mortgage - 2 - This assumption by said Purchaser(s), if more than one, is joint and several and shal l 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: Witness: Address: Assumption of Mortgage - 3 - Witness Purchaser (if individual) Address: Witness: Address: Witness Purchaser (if individual) Address: Witness: Address: Witness Purchaser (if corporation) Address: Witness: Address: Assumption of Mortgage - 4 - 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 of Mortgage - 5 - State of Massachusetts County of ___ _______________ On the ______ day of __________________ , 20 ______ , personally appeared before me ______________________________ , the signer of the foregoing instrument, who duly acknowledged to me that he/she executed the same. (Seal) Notary Public My commission expires: Type or Print Name Residing at: State of Massachusetts County of __________________ On the ______ day of __________________ , 20 ______ , personally appeared before me ______________________________ , the signer of the foregoing instrument, who duly acknowledged to me that he/she executed the same. (Seal) Notary Public My commission expires: Type or Print Name Residing at: Acknowledgment of Corporation – Borrower State of Massachusetts County of __________________ On the ______ day of __________________ , 20 ______ , personally appeared before me _________________________ _____ ,who being duly sworn, did say that he/she is the ________________________ of ______________________________ , a corporation, and that said instrument was signed on behalf of said corporation by authority of a re solution of its Board of Directors, and said ______________________________ acknowledged to me that said corporation executed the same. (Seal) Notary Public My commission expires: Type or Print Name Residing at: Assumption of Mortgage - 6 - Acknowledgment of Individual – Purchaser(s) State of Massachusetts County of __________________ On the ______ day of __________________ , 20 ______ , personally appeared before me ______________________________ , the signer of the foregoing instrument, who duly acknowledged to me that he/she executed the same. (Seal) Notary Public My commission expires: Type or Print Name Residing at: State of Massachusetts County of __________________ On the ______ day of __________________ , 20 ______ , personally appeared before me ___________ ___________________ , the signer of the foregoing instrument, who duly acknowledged to me that he/she executed the same. (Seal) Notary Public My commission expires: Type or Print Name Residing at: Acknowledgment of Corporation – Purchaser State of Massachusetts County of __________________ On the ______ day of __________________ , 20 ______ , personally appeared be fore me ______________________________ ,who being dul y sworn, did say that he/she is the ________________________ of ______________________________ , a corporation, and th at said instrument was signed on behalf of said corporation by authority of a resolution of its Board of Directors, and said ______________________________ acknowledged to me that said corporation executed the same. Assumption of Mortgage - 7 - (Seal) Notary Public My commission expires: Type or Print Name Residing at: Acknowledgment of Individual – Lender(s) State of Massachusetts County of __________________ On the ______ day of __________________ , 20 ___ ___ , personally appeared before me ______________________________ , the signer of the foregoing instrument, who duly acknowledged to me that he/she executed the same. (Seal) Notary Public My commission expires: Type or Print Name Residing at: State of Massachusetts County of __________________ On the ______ day of __________________ , 20 ______ , personally appeared before me ______________________________ , the signer of the foregoing instrument, who duly acknowledged to me that he/she executed the same. (Seal) Notary Public My commission expires: Type or Print Name Residing at: Acknowledgment of Corporation – Lender State of Massachusetts County of __________________ On the ______ day of __________________ , 20 ______ , personally appeared before me ______________________________ ,who being duly sworn, did say that he/she is the ________________________ of _____________ _________________ , a corporation, and that said instrument was signed on behalf of said corporation by authority of a resolution of its Board of Directors, and said ______________________________ acknowledged to me that said corporation executed the same. Assumption of Mortgage - 8 - (Seal) Notary Public My commission expires: Type or Print Name Residing at: