Fill and Sign the Control Number Ky Ed1014 Form

Prepared by U.S. Legal Forms, Inc. Copyright 2016 - U.S. Legal Forms, Inc. STATE OF KENTUCKY ASSUMPTION AGREEMENT DEED OF TRUST/MORTGAGE Control Number – KY – ED1014 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 visibl e. 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 ma ke 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 docu ment 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. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of Ken tucky. All Information and Forms are subject to this Disclaimer: All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk. If you have a serious legal problem w e suggest that you consult an attorney. U.S. Legal Forms, Inc. does not provide legal advice. The products offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney. THESE MATERIALS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U. S. LEGAL FORMS, INC. 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. Assumption Agreement Page 1 of 9 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 ____________________________________ here inafter 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 C lerk of __________________ County, State of Kentucky . WHEREAS, said Borrower(s) h as/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 Lende r 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 evid enced 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 follo ws: 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 Agreement Page 2 of 9 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 Agreement Page 3 of 9 Witness Purchaser (if individual) Address: Witness: Address: Witness Purchaser (if individual) Address: Witness: Address: Witness Purchaser (if corporation) Address: Witness: Address: Assumption Agreement Page 4 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) Assumption Agreement Page 5 of 9 State of Kentucky County of __________ ________ The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name of person acknowledged). My commission expires: Notary Public Serial Number, if any: Type or Print Name State of Kentucky County of __________________ The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name of person acknowledged). My commission expires: Notary Public Serial Number, if any: Type or Print Name Acknowledgment of Corporation – Borrower Assumption Agreement Page 6 of 9 State of Kentucky County of __________________ The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name and title of officer or agent) of ________________________ (name of corporation) , a __________________ (state or place of incorporation) corporation, on behalf of the corporation. My commission expires: Notary Public Serial Number, if any: Type or Print Name Acknowledgment of Individual – Purchaser(s) State of Kentucky County of ___________ _______ The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name of person acknowledged). My commission expires: Notary Public Serial Number, if any: Type or Print Name State of Kentucky County of __________________ The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name of person acknowledged). Assumption Agreement Page 7 of 9 My commission expires: Notary Public Serial Number, if any: Type or Print Name My Commission Expires: __________________ Acknowledgment of Corporation – Purchaser State of Kentucky County of __________________ The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name and title of officer or agent) of ________________________ (name of corporation) , a _________________ _ (state or place of incorporation) corporation, on behalf of the corporation. My commission expires: Notary Public Serial Number, if any: Type or Print Name Acknowledgment of Individual – Lender(s) State of Kentucky County of __________________ Assumption Agreement Page 8 of 9 The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name of person acknowledged). My commission expires: Notary Public Serial Number, if any: Type or Print Name State of Kentucky County of __________________ The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name of person acknowledged). My commission expires: Notary Public Serial Number, if any: Type or Print Name Acknowledgment of Corporation – Lender State of Kentucky County of __________________ Assumption Agreement Page 9 of 9 The foregoing instrument was acknowledged before me this __________________ (date), by ______________________________ (name and title of officer or agent) of ________________________ (name of corporation) , a __________________ (state or place of incorporation) corporation, on behalf of the corporation. My commission expires: Notary Public Serial Number, if any: Type or Print Name