Fill and Sign the Ex 42 4 Form4 2htm Mortgage Loan Purchase Agreement

Agreement to Purchase Note and Mortgage Agreement made on the _______________ (date), between ________________________ (Name of Purchaser), a corporation organized and existing under the laws of the state of ______________, with its principal office located at ____________________________________________________________________ __________ (street address, city, state, zip code), referred to herein as Purchaser, and __________________ (Name of Seller), a corporation organized and existing under the laws of the state of _________________, with its principal office located at ______________________________________________________________________ (street address, city, state, zip code), referred to herein as Seller. Whereas, Seller is the owner and holder of a Promissory Note and Mortgage made by ________________________ (name of borrower) to ___________________ (name of lender), dated ________________ (date), said Mortgage having been recorded in the Office of the (e.g., County Recorder) ____________________ of __________________ (name of county), _________________ (name of state), on __________________ (date), in Book _________, at Page ________, covering the premises described in Exhibit A attached to and made a part of this Agreement; and Whereas, said Note and Mortgage and all modifications, amendments, and supplements, if any, to either of the instruments, are respectively and collectively referred to in this Agreement as the Note and Mortgage and attachments of which are attached to this Agreement as Exhibit B and Exhibit C, respectively; and Whereas, the Note and Mortgage were assigned to Seller by ________________ (name) by Assignment dated ________________ (date); and Whereas, Seller desires to sell and assign and Purchaser desires to purchase the Note and Mortgage; Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Purchase and ClosingSeller agrees to sell and assign and Purchaser agrees to purchase the Note and Mortgage. The closing shall occur at ________ (time) on _______________ (date), at the office of _________________ (name), at _________________________________ ______________________________________ (street address, city, state, zip code), or at such other location as the parties may mutually agree (the Closing Date
). 2. Sale of mortgage and note is limited in any amount. The sale of the mortgage is limited to a principal amount of (name) (percentage) of (amount), plus a fee of (name of seller) for each (percentage), of (amount), of (amount) paid of (name of mortgage). 3. Seller's commission is (number of days' service) x (percentage). Seller's commission is x % of commission that the closing buyer and his or her estate is entitled. 4. Buyer's commission is (total number of days' service) x (percentage) of commission paid by closing buyer. Buyer's commission is x % of commission paid by closing buyer. 5. Seller's commission is (number of days' service) x (percentage) of commission that the purchaser is entitled. Seller's commission is x % of commission earned on sale of the property by the seller of the property, exclusive of the consideration received from the closing buyer. 6. Seller shall include a transfer check payable to the closing buyer at the time of sale. The settlement of this transaction shall be governed by the rules of bankruptcy code section 201(e)(1). All transfers of property other than real property are governed by the uniform commercial code chapter 17a, part 3 and subject to all exceptions contained therein. The closing buyer shall pay, at closing, all assessments and assessments paid prior to closing in order to satisfy all assessments due at closing and shall deliver to the seller a deed of trust for all real property at the time of closing. 7. Seller shall include a transfer check payable to the closing buyer (by order of the court) at the time of closing. Settlement of this transaction shall be governed by the rules of bankruptcy code section 201(e)(1). All transfers of property other than real property are governed by the uniform commercial code chapter 17a, part 3 and subject to all exceptions contained therein. The closing buyer shall pay, at closing, all assessments and assessments paid prior to closing in order to satisfy all assessments due at closing and shall deliver to the seller a deed of trust for all real property at the time of closing. 8. If, at time of closing, the seller has made a sufficient down payment and has the funds available to settle the debt of the closing buyer upon the sale of the property, the seller shall have the right to repurchase the mortgage and transfer the remainder