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

Prepared by U.S. Legal Forms, Inc. Copyright 2016 - U.S. Legal Forms, Inc. STATE OF DELAWARE ASSUMPTION AGREEMENT DEED OF TRUST/MORTGAGE Control Number – DE – 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, cl ick 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. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon stat utes and forms for the State of Delaware. 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HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. Assumption Agreement Page 1 of 10 Prepared By and After Recording Return to: ) ) ) ) ) ) Tax Parcel No. ______25 Character Code______ ) --------Above This Line Reserved For Official Use Only -------- Parcel Identification No. ______25 Character Code______ 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 Deed of Trust or Mortgage dated and recorded in Book at Page ______ of the Public Records of the Recorder of Deeds for __________________ County, State of Delaware. 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 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 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. Assumption Agreement Page 2 of 10 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: Witness Purchaser (if individual) Assumption Agreement Page 3 of 10 Address: Witness: Address: Witness Purchaser (if individual) Address: Witness: Address: Witness Purchaser (if corporation) Address: Witness: Address: Witness Lender(if individual) Address: Assumption Agreement Page 4 of 10 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 10 State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, ____________________________________, party(ies) to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her/their act and. GIVEN under my Hand and Seal of Office, the day and year aforesaid. (Seal, if any) Notary Public My commission expires: Title and Rank State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, ____________________________________, party(ies) to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her/their act and. GIVEN under my Hand and Seal of Office, the day and year aforesaid. (Seal, if any) Notary Public My commission expires: Title and Rank Acknowledgment of Corporation – Borrower Assumption Agreement Page 6 of 10 State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, ________________________, the __________________ of ________________________, a __________________ (corporation/partnership) of the State of __________________, party to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her act and deed and the act and deed of said ________________________ (corporation/partnership), and that such was duly authorized by said ________________________ (corporation/partnership). GIVEN under my Hand and Seal of Office, the day and year aforesaid. (Seal, if any) Signature of Notarial Officer My commission expires: Title and Rank Acknowledgment of Individual – Purchaser(s) State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, Assumption Agreement Page 7 of 10 ____________________________________, party(ies) to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her/their act and. GIVEN under my Hand and Seal of Office, the day and year aforesaid. (Seal, if any) Notary Public My commission expires: Title and Rank State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, ____________________________________, party(ies) to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her/their act and. GIVEN under my Hand and Seal of Office, the day and year aforesaid. (Seal, if any) Notary Public My commission expires: Title and Rank Acknowledgment of Corporation – Purchaser State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, ________________________, the __________________ of ________________________, a Assumption Agreement Page 8 of 10 __________________ (corporation/partnership) of the State of __________________, party to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her act and deed and the act and deed of said ________________________ (corporation/partnership), and that such was duly authorized by said ________________________ (corporation/partnership). GIVEN under my Hand and Seal of Office, the day and year aforesaid. (Seal, if any) Signature of Notarial Officer My commission expires: Title and Rank Acknowledgment of Individual – Lender(s) State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, ____________________________________, party(ies) to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her/their act and. GIVEN under my Hand and Seal of Office, the day and year aforesaid. Assumption Agreement Page 9 of 10 (Seal, if any) Notary Public My commission expires: Title and Rank State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, ____________________________________, party(ies) to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her/their act and. GIVEN under my Hand and Seal of Office, the day and year aforesaid. (Seal, if any) Notary Public My commission expires: Title and Rank Acknowledgment of Corporation – Lender State of Delaware County of __________________ BE IT REMEMBERED, That on this ______ day of __________________, 20______, personally came before me, the Subscriber, a Notary Public for the State and County aforesaid, ________________________, the __________________ of ________________________, a __________________ (corporation/partnership) of the State of __________________, party to this Indenture, known to me personally to be such, and acknowledged this Indenture to be his/her act and deed and the act and deed of said ________________________ (corporation/partnership), and that such was duly authorized by said ________________________ (corporation/partnership). Assumption Agreement Page 10 of 10 GIVEN under my Hand and Seal of Office, the day and year aforesaid. (Seal, if any) Signature of Notarial Officer My commission expires: Title and Rank