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

Prepared By and After Recording Return to:                         Send Tax Statements to Grantee (Name and Address):                         -------- Above This Line Reserved For Official Use Only--------       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 mortgage dated ____________ and recorded in Book ______ at Page ______ of the Public Records of ____________ County, Maine. 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 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 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:                         Witness: Address:                               Witness Purchaser (if individual) Address:                         Witness: Address:                               Witness Purchaser (if individual) Address:                         Witness: Address:                               Witness Purchaser (if corporation) Address:                         Witness: 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) STATE OF MAINE COUNTY OF __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person acknowledged). ____________________________________ Notary Public       Print Name My Commission Expires:       Acknowledgment of Corporation – Borrower STATE OF MAINE COUNTY OF __________________ The foregoing instrument was acknowledged before me this ____________ (date) by ______________________________ (name of officer or agent, title of officer or agent) of ____________________________________ (name of corporation acknowledging) a __________________ (state or place of incorporation) corporation, on behalf of the corporation. ____________________________________ Notary Public       Print Name My Commission Expires:       Acknowledgment of Individual – Purchaser(s) STATE OF MAINE COUNTY OF __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person acknowledged). ____________________________________ Notary Public       Print Name My Commission Expires:       Acknowledgment of Corporation – Purchaser STATE OF MAINE COUNTY OF __________________ The foregoing instrument was acknowledged before me this ____________ (date) by ______________________________ (name of officer or agent, title of officer or agent) of ____________________________________ (name of corporation acknowledging) a __________________ (state or place of incorporation) corporation, on behalf of the corporation. ____________________________________ Notary Public       Print Name My Commission Expires:       Acknowledgment of Individual – Lender(s) STATE OF MAINE COUNTY OF __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person acknowledged). ____________________________________ Notary Public       Print Name My Commission Expires:       Acknowledgment of Corporation – Lender STATE OF MAINE COUNTY OF __________________ The foregoing instrument was acknowledged before me this __________________ (date) by ______________________________ (name of person acknowledged). ____________________________________ Notary Public       Print Name My Commission Expires:       NOTE RE FORM FIELDS 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. 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. This is done by clicking on “Tools” in the Menu bar and then selecting “unprotect document”. You may then be prompted to enter a password. If so, the password is “uslf”. That is uslf in lower case letters without the quotation marks . It is very important to understand that, once the document is unprotected, any data entered in the form fields will be lost when the document is again protected. If changes are necessary, unlock the document, using the password “uslf” if necessary, and make any changes that you feel are required. Then protect the document once again. After any required changes and re-protecting the document, click on the first form field and enter the required information. You will be able to navigate through the document from form field to form field using your tab key. Tab to a form field and insert your data. Inserting date will result in the default line disappearing. You will have sufficient space to enter any required information.