Deed of trust assignment of leases and security agreement form
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Assignment of General and Specific Leases THIS Assignment, entered into this _____________________________________ (date),
by and between ___________________________________________________________ (name
of limited liability company), a __________________________ (name of state) limited liability
company (hereinafter referred to as Seller), and _______________________________________
(name of corporation), corporation of the State of ___________________________ (name of
state), having its principal office at _________________________________________________
______________________________________________________________________________ (street address, city, county, state, zip code) (hereinafter referred to as Purchaser); WHEREAS, Seller is the present owner in fee simple of real property located in
__________________________________________ (name of county and state) (hereinafter
referred to as Premises), which real property is more particularly described as follows: (Insert Legal Description) ______________________________________________________________________________ ______________________________________________________________________________ ______________________________________________________________________________ WHEREAS, Purchaser has contracted with Seller to purchase fee simple title to
Premises; and WHEREAS, said contract includes purchase of any and all leases on Premises; Now, therefore, for and in consideration of the sum of ____________________ Dollars
($_________.00) cash in hand paid, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Seller hereby grants and assigns to Purchaser each
and all of the Leases upon or affecting the Premises, including the Leases described below and
all amendments thereto: LEASE NUMBER ONE: Lease from ______________________________________________
(name of limited liability company), a ________________________________ (name of state)
limited liability company, Lessor, to __________________________________________ (name
of lessee), Lessee, of premises located at ____________________________________________
______________________________________________________________________________ (street address, city, county, state, zip code), which Lease commenced on __________________
______________ (date), and any and all renewals and additions thereto;LEASE NUMBER TWO: Lease from _____________________________________________
(name of limited liability company), a ________________________________ (name of state)
limited liability company, Lessor, to ________________________________________ (name of
lessee), Lessee, of premises located at _______________________________________________ ______________________________________________________________________________ (street address, city, county, state, zip code), which Lease commenced on __________________
______________ (date), and any and all renewals and additions thereto;
IN WITNESS WHEREOF, Purchaser has executed this Assignment the day and year
first above written. _______________________________________(Name of Seller)By: _____________________________________ ________________________________________ (Name & Signature of Managing Member) Managing Member Acknowledgement (may vary by state)STATE OF _____________________________COUNTY OF ___________________________ Personally appeared before me, the undersigned authority in and for the said county and
state, on this ___________________________________ (date), within my jurisdiction, the
within named _____________________________________ (name of managing member), who
acknowledged that he is a Manager Member of ______________________________________
(Name of Seller) a _______________________________ (name of state) limited liability
company, and that for and on behalf of the said limited liability company, and as its act and deed
he executed the above and foregoing Assignment of Leases, after first having been duly authorized by said limited liability company so to do.
____________________________________ NOTARY PUBLIC My commission expires:_______________________(Affix notarial seal)Prepared By and Record And Return To:Name ____________________________________Street or Post Office No. ________________________________________City, State, Zip Code ___________________________________________________
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FAQs
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A Deed Of Trust, Assignment Of Leases And Security Agreement is a legal document that secures a loan by placing a lien on real property. This agreement allows lenders to have rights to the property in case of default, while also enabling the borrower to lease the property. Understanding this document is essential for both lenders and borrowers in real estate transactions.
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