Fill and Sign the Deed of Trust Fill Out and Sign Printable PDF Template Form

© 2016 - U.S. Legal Forms, Inc. SOUTH DAKOTA ASSUMPTION AGREEMENT [DEED OF TRUST / MORTGAGE] Control Number: SD-ED1014 I. TIPS ON COMPLETING THE FORMSThe 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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Assumption Agreement Page 1 of 6Prepared by: And, when recorded, mail this deed and tax statements to:Name: City, State & Zip: Phone: ASSUMPTION AGREEMENT (Release of Original Borrowers) 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 deed of trust or mortgage dated and recorded in Book at Page of the Public Records of the County Register of Deeds, State of South Dakota.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 or 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 $ Assumption Agreement Page 2 of 6per 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) Date: Signature of Individual Borrower Type/Print Name State of South Dakota, County of On this day of , 20 , before me, , the undersigned officer, personally appeared , known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained. In witness whereof I hereunto set my hand and official seal. Signature of Notary Public NOTARY SEALPrinted Name of Notary Commission Expiration Date Date: Signature of Individual Borrower Type/Print Name State of South Dakota, County of On this day of , 20 , before me, , the undersigned officer, personally appeared , known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained. In witness whereof I hereunto set my hand and official seal. Assumption Agreement Page 3 of 6 Signature of Notary Public NOTARY SEAL Printed Name of Notary Commission Expiration Date Date: Corporate BorrowerBy: Its: Type/Print Name State of South Dakota, County of On this day of , 20 , before me, , the undersigned officer, personally appeared , whoacknowledged himself to be the of ,a corporation, and that he, as such being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself as .In witness whereof I hereunto set my hand and official seal. Signature of Notary Public NOTARY SEAL Printed Name of Notary Commission Expiration Date PURCHASER(S) Date: Signature of Individual Purchaser Type/Print Name State of South Dakota, County of On this day of , 20 , before me, , Assumption Agreement Page 4 of 6the undersigned officer, personally appeared , known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained. In witness whereof I hereunto set my hand and official seal. Signature of Notary Public NOTARY SEALPrinted Name of Notary Commission Expiration Date Date: Signature of Individual Purchaser Type/Print Name State of South Dakota, County of On this day of , 20 , before me, , the undersigned officer, personally appeared , known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained. In witness whereof I hereunto set my hand and official seal. Signature of Notary Public NOTARY SEALPrinted Name of Notary Commission Expiration Date Date: Corporate PurchaserBy: Its: Type/Print Name State of South Dakota, County of Assumption Agreement Page 5 of 6On this day of , 20 , before me, , the undersigned officer, personally appeared , whoacknowledged himself to be the of ,a corporation, and that he, as such being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself as .In witness whereof I hereunto set my hand and official seal. Signature of Notary Public NOTARY SEAL Printed Name of Notary Commission Expiration Date LENDER Date: Signature of Individual Lender Type/Print Name State of South Dakota, County of On this day of , 20 , before me, , the undersigned officer, personally appeared , known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained. In witness whereof I hereunto set my hand and official seal. Signature of Notary Public NOTARY SEAL Printed Name of Notary Commission Expiration Date Date: Signature of Individual Lender Type/Print Name Assumption Agreement Page 6 of 6State of South Dakota, County of On this day of , 20 , before me, , the undersigned officer, personally appeared , known to me or satisfactorily proven to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained. In witness whereof I hereunto set my hand and official seal. Signature of Notary Public NOTARY SEAL Printed Name of Notary Commission Expiration Date Date: Corporate LenderBy: Its: Type/Print Name State of South Dakota, County of On this day of , 20 , before me, , the undersigned officer, personally appeared , whoacknowledged himself to be the of ,a corporation, and that he, as such being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself as .In witness whereof I hereunto set my hand and official seal. Signature of Notary Public NOTARY SEAL Printed Name of Notary Commission Expiration Date