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

© 2016 - U.S. Legal Forms, Inc. OKLAHOMA ASSUMPTION AGREEMENT [ASSUMPTION OF DEED OF TRUST OR MORTGAGE] Control Number: OK-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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Prepared By and After Recording Return to: Send Tax Statements to Grantee (Name and Address):                                                 ASSUMPTION AGREEMENT [Mortgage or Deed of Trust] 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 deed of trust dated ____________ and recorded in Book ______ at Page ______ of the Public Records of ____________ County, Oklahoma. 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 $ __________________ Assumption Agreement - 1 - 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 ______ . BORROWERS(S ) A. Date:   Signature of Individual Borrower       Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ The foregoing instrument was acknowledged before me this ____________ (date) by ____________________________________ (name of person acknowledged.) Notary Public My commission expires:             Type or Print Name B. Date:   Signature of Individual Borrower       Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ Assumption Agreement - 2 - The foregoing instrument was acknowledged before me this ____________ (date) by ____________________________________ (name of person acknowledged.) Notary Public My commission expires:             Type or Print Name C. Date:         Corporate Borrower By: Its:             Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ The foregoing instrument was acknowledged, before me, this ______ this day of __________________ , 20 ______ by ____________________________________ of ______________________________ , a __________________ corporation, on behalf of the corporation. IN WITNESS WHEREOF, I have hereunto set my hand and official seal. Notary Public My commission expires:             Type or Print Name Assumption Agreement - 3 - PURCHASER(S) A. Date:   Signature of Individual Purchaser       Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ The foregoing instrument was acknowledged before me this ____________ (date) by ____________________________________ (name of person acknowledged.) Notary Public My commission expires:             Type or Print Name B. Date:   Signature of Individual Purchaser       Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ The foregoing instrument was acknowledged before me this ____________ (date) by ____________________________________ (name of person acknowledged.) Notary Public My commission expires:             Type or Print Name Assumption Agreement - 4 - C. Date:         Corporate Purchaser By: Its:             Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ The foregoing instrument was acknowledged, before me, this ______ this day of __________________ , 20 ______ by ____________________________________ of ______________________________ , a __________________ corporation, on behalf of the corporation. IN WITNESS WHEREOF, I have hereunto set my hand and official seal. Notary Public My commission expires:             Type or Print Name LENDER A. Date:   Signature of Individual Lender       Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ The foregoing instrument was acknowledged before me this ____________ (date) by ____________________________________ (name of person acknowledged.) Assumption Agreement - 5 - Notary Public My commission expires:             Type or Print Name B. Date:   Signature of Individual Lender       Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ The foregoing instrument was acknowledged before me this ____________ (date) by ____________________________________ (name of person acknowledged.) Notary Public My commission expires:             Type or Print Name C. Date:         Corporate Lender By: Its:             Type/Print Name STATE OF OKLAHOMA COUNTY OF __________________ Assumption Agreement - 6 - The foregoing instrument was acknowledged, before me, this ______ this day of __________________ , 20 ______ by ____________________________________ of ______________________________ , a __________________ corporation, on behalf of the corporation. IN WITNESS WHEREOF, I have hereunto set my hand and official seal. Notary Public My commission expires:             Type or Print Name Assumption Agreement - 7 -