Fill and Sign the Control Number Ns Ed1014 Form

Prepared by U.S. Legal Forms, Inc.Copyright 2016 - U.S. Legal Forms, Inc. STATE OF NORTH CAROLINAASSUMPTION AGREEMENT Control Number – NS – 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 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. This is appropriate and the way the form is designed to function. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of North Carolina. 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 we 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. 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 ($__________________), as evidenced by note and mortgage deed of trust dated ____________ and recorded in Book ______ at Page ______ of the Public Records of ____________ County, North Carolina. WHEREAS, said Borrower(s) has/have sold said property to the undersigned Purchaser(s) and said Purchaser(s) desire to assume and agree to pay said indebtedness and perform all the obligations of Borrower(s), and said Borrower(s) desire to be released from said obligations, and Lender is willing to accept said assumption and release said original Borrower(s).THEREFORE, for and in consideration of the premises and other good and valuable considerations, the undersigned Purchaser(s) hereby assume and agree to pay the indebtedness evidenced by said note and mortgage deed of trust and perform all of the obligations provided therein, it being agreed and understand that as of this date said indebtedness is ________________________ Dollars ($__________________), 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______.WitnessBorrower (if individual)Address: Witness:Address: WitnessBorrower (if individual)Address: Witness:Address: WitnessBorrower (if corporation)Address: Witness: Address: WitnessPurchaser (if individual)Address: Witness:Address:WitnessPurchaser (if individual)Address: Witness:Address: WitnessPurchaser (if corporation)Address: Witness:Address: WitnessLender(if individual)Address: Witness:Address: WitnessLender(if individual)Address: Witness:Address: WitnessLender(if Corporation)Address: Witness:Address: Acknowledgment of Individual – Borrower(s) State of North CarolinaCounty of ___________________I, ______________________________, a Notary Public in and for said state and county do hereby certify that ______________________________ personally appeared before me this day and acknowledged the execution of the foregoing instrument.Witness my hand and official seal this ______ day of __________________, 20______. Notary PublicMy commission expires: Type or Print Name Acknowledgment of Corporation – Borrower State of North CarolinaCounty of ___________________I, ______________________________, a Notary Public in and for said state and county do hereby certify that ______________________________ personally appeared before me this day and acknowledged that he/she is the __________________ Secretary of ______________________________, a corporation, and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its name by its __________________ President, sealed with its corporate seal, and attested to by himself/herself as its __________________ Secretary.Witness my hand and official seal this ______ day of __________________, 20 ______.Notary PublicMy commission expires: Type or Print Name Acknowledgment of Individual – Purchaser(s) State of North CarolinaCounty of ___________________I, ______________________________, a Notary Public in and for said state and county do hereby certify that ______________________________ personally appeared before me this day and acknowledged the execution of the foregoing instrument.Witness my hand and official seal this ______ day of __________________, 20______. Notary PublicMy commission expires: Type or Print Name Acknowledgment of Corporation – Purchaser State of North CarolinaCounty of ___________________I, ______________________________, a Notary Public in and for said state and county do hereby certify that ______________________________ personally appeared before me this day and acknowledged that he/she is the __________________ Secretary of ______________________________, a corporation, and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its name by its __________________ President, sealed with its corporate seal, and attested to by himself/herself as its __________________ Secretary.Witness my hand and official seal this ______ day of __________________, 20 ______.Notary PublicMy commission expires: Type or Print Name Acknowledgment of Individual – Lender(s) State of North CarolinaCounty of ___________________I, ______________________________, a Notary Public in and for said state and county do hereby certify that ______________________________ personally appeared before me this day and acknowledged the execution of the foregoing instrument.Witness my hand and official seal this ______ day of __________________, 20______. Notary PublicMy commission expires: Type or Print Name Acknowledgment of Corporation – Lender State of North CarolinaCounty of ___________________I, ______________________________, a Notary Public in and for said state and county do hereby certify that ______________________________ personally appeared before me this day and acknowledged that he/she is the __________________ Secretary of ______________________________, a corporation, and that by authority duly given and as the act of the corporation, the foregoing instrument was signed in its name by its __________________ President, sealed with its corporate seal, and attested to by himself/herself as its __________________ Secretary.Witness my hand and official seal this ______ day of __________________, 20 ______.Notary PublicMy commission expires: Type or Print Name