Fill and Sign the New Mexico Mortgage Formsus Legal Forms

Prepared by U.S. Legal Forms, Inc.Copyright 2016 - U.S. Legal Forms, Inc. STATE OF NEW MEXICO ASSUMPTION AGREEMENT MORTGAGE Control Number – NM – 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.In order to use the form fields properly, it is necessary to “lock or protect” the document. If you wish to make any changes in the body of the form, it is necessary for you “unlock” or “unprotect” the form.This is done by clicking on “Tools” in the Menu bar and then selecting “unprotect document”. You may then be prompted to enter a password. If so, the password is “uslf”. That is uslf in lower case letters without the quotation marks. It is very important to understand that, once the document is unprotected, any data entered in the form fields will be lost when the document is again protected. If changes are necessary, unlock the document, using the password “uslf” if necessary, and make any changes that you feel are required. Then protect the document once again. After any required changes and re-protecting the document, click on the first form field and enter the required information. You will be able to navigate through the document from form field to form field using your tab key. Tab to a form field and insert your data. Inserting date will result in the default line disappearing. You will have sufficient space to enter any required information. DISCLAIMER These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of New Mexico. 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. Assumption Agreement Page 1 of 7Prepared by and, after recording, return to:Name: Firm/Co.: Address: Address2: City & State: Zip Code: Phone: 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 County Clerk for __________________ County, State of New Mexico. 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 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. Assumption Agreement Page 2 of 7This 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: Assumption Agreement Page 3 of 7 WitnessPurchaser (if individual)Address: Witness:Address: WitnessPurchaser (if individual)Address: Witness:Address: WitnessPurchaser (if corporation)Address: Witness:Address: WitnessLender(if individual) Assumption Agreement Page 4 of 7Address: Witness: Address: WitnessLender(if individual)Address: Witness:Address: WitnessLender(if Corporation)Address: Witness:Address: Acknowledgment of Individual – Borrower(s) COUNTY OF , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this day of Assumption Agreement Page 5 of 7 , 20 , by .My Commission Expires: Notary Public COUNTY OF , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this day of , 20 , by .My Commission Expires: Notary Public Acknowledgment of Corporation – Borrower COUNTY OF , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this day of , 20 , by , , (name) (title) , a (corporation) (state of incorporation) corporation, on behalf of said corporation.My Commission Expires: Notary Public Acknowledgment of Individual – Purchaser(s) COUNTY OF , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this day of Assumption Agreement Page 6 of 7 , 20 , by .My Commission Expires: Notary Public Acknowledgment of Corporation – Purchaser COUNTY OF , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this day of , 20 , by , , (name) (title) , a (corporation) (state of incorporation) corporation, on behalf of said corporation.My Commission Expires: Notary Public Acknowledgment of Individual – Lender(s) COUNTY OF , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this day of , 20 , by .My Commission Expires: Assumption Agreement Page 7 of 7 Notary Public COUNTY OF , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this day of , 20 , by .My Commission Expires: Notary Public Acknowledgment of Corporation – Lender COUNTY OF , STATE OF NEW MEXICO The foregoing instrument was acknowledged before me this day of , 20 , by , , (name) (title) , a (corporation) (state of incorporation) corporation, on behalf of said corporation.My Commission Expires: Notary Public