Fill and Sign the Assumption Agreement of Mortgage and Release of Original Mortgagors Iowa Form

© 2016 - U.S. Legal Forms, Inc.       IOWA ASSUMPTION OF MORTGAGE AND RELEASE OF ORIGINAL MORTGAGORS Control Number: IA-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. 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Type of Document: Assumption of Mortgage and Release of Original Mortgagors       Preparer Information: (Individual’s Name, Street Address, City, Zip, Phone)       Taxpayer Information: (Individual/Company Name, Street Address, City, Zip, Phone)       Return Document to: (Individual/Company Name, Street Address, City, Zip, Phone) Grantors:                         Grantees:                         Legal Description:       Book & Page Reference:       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 County Recorder for       County, State of Iowa. 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 $       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 ______ . Assumption Agreement Page 1 of 8 BORROWERS(S ) Date:   Signature of Individual Borrower       Type/Print Name State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said state, personally appeared ______________________________ , to me known to be the identical person named in and who executed the within and foregoing instrument, and acknowledged that he/she executed the same as his/her voluntary act and deed. (Seal, if any) Signature       Title of Officer Date:   Signature of Individual Borrower       Type/Print Name State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said state, personally appeared ______________________________ , to me known to be the identical person named in and who executed the within and foregoing instrument, and acknowledged that he/she executed the same as his/her voluntary act and deed. (Seal, if any) Signature       Title of Officer Assumption Agreement Page 2 of 8 Date:         Corporate Borrower By: Its:             Type/Print Name State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said State, personally appeared ______________________________ and ______________________________ to me personally known, who, being by me duly sworn, did say that they are the __________________ and __________________ , respectively, of said corporation, that (no seal has been procured by the said or the seal affixed thereto is the seal of said) corporation, that said instrument was signed (and sealed) on behalf of said corporation by authority of its Board of Directors, and that the said ______________________________ and ______________________________ , as such officers, acknowledged the execution of said instrument to be the voluntary act and deed of said corporation, by it and by them voluntarily executed. (Seal, if any) Signature       Title of Officer PURCHASER(S) Date:   Signature of Individual Purchaser       Type/Print Name State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said state, personally appeared ______________________________ , to me known to be the identical person named in and who executed the within and foregoing instrument, and acknowledged that he/she executed the same as his/her voluntary act and deed. Assumption Agreement Page 3 of 8 (Seal, if any) Signature       Title of Officer Date:   Signature of Individual Purchaser       Type/Print Name State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said state, personally appeared ______________________________ , to me known to be the identical person named in and who executed the within and foregoing instrument, and acknowledged that he/she executed the same as his/her voluntary act and deed. (Seal, if any) Signature       Title of Officer Date:         Corporate Purchaser By: Its:             Type/Print Name State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said State, personally appeared ______________________________ and Assumption Agreement Page 4 of 8 ______________________________ to me personally known, who, being by me duly sworn, did say that they are the __________________ and __________________ , respectively, of said corporation, that (no seal has been procured by the said or the seal affixed thereto is the seal of said) corporation, that said instrument was signed (and sealed) on behalf of said corporation by authority of its Board of Directors, and that the said ______________________________ and ______________________________ , as such officers, acknowledged the execution of said instrument to be the voluntary act and deed of said corporation, by it and by them voluntarily executed. (Seal, if any) Signature       Title of Officer LENDER Date:   Signature of Individual Lender       Type/Print Name State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said state, personally appeared ______________________________ , to me known to be the identical person named in and who executed the within and foregoing instrument, and acknowledged that he/she executed the same as his/her voluntary act and deed. (Seal, if any) Signature       Title of Officer Date:   Signature of Individual Lender       Type/Print Name Assumption Agreement Page 5 of 8 State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said state, personally appeared ______________________________ , to me known to be the identical person named in and who executed the within and foregoing instrument, and acknowledged that he/she executed the same as his/her voluntary act and deed. (Seal, if any) Signature       Title of Officer Date:         Corporate Lender By: Its:             Type/Print Name State of Iowa County of __________________ On this ______ day of __________________ , 20 ______ , before me, the undersigned, a Notary Public in and for said State, personally appeared ______________________________ and ______________________________ to me personally known, who, being by me duly sworn, did say that they are the __________________ and __________________ , respectively, of said corporation, that (no seal has been procured by the said or the seal affixed thereto is the seal of said) corporation, that said instrument was signed (and sealed) on behalf of said corporation by authority of its Board of Directors, and that the said ______________________________ and ______________________________ , as such officers, acknowledged the execution of said instrument to be the voluntary act and deed of said corporation, by it and by them voluntarily executed. (Seal, if any) Signature       Title of Officer Assumption Agreement Page 6 of 8