ASSIGNMENT OF MORTGAGE
Agreement whereby a Lender assign the rights and liabilities under a mortgage to another party.
6 PAGES
ASSIGNMENT OF MORTGAGE THIS ASSIGNMENT OF MORTGAGE (this “Agreement”) is made this _____ day of __________, 20___ by __________ ("Assignor") to __________ ("Assignee").
Recitals WHEREAS, _____________ (“Borrower”) executed a mortgage on________ in favor of Assignor (the “Mortgage”); WHEREAS, Assignor desires to assign, transfer, sell and convey to Assignee all of Assignor's right, title and interest in, to and under said Mortgage; WHEREAS, Assignee desires to receive all of Assignor's right, title and interest in, to and under said Mortgage; NOW THEREFORE, the parties wish to execute this Agreement on the terms and conditions set forth below: Terms SECTION 1. ASSIGNMENT. For and in consideration of [AMOUNT], the receipt and sufficiency of which is hereby acknowledged, Assignor hereby grants, assigns and transfers to Assignee that certain Mortgage executed by [NAME], and dated, [DATE], and recorded in [OFFICES], in [CITY, STATE/PROVINCE], in [Book of Mortgage], at page [NUMBER], together with the note described therein and the money to become due thereon with the interest provided therein. SECTION 2. APPLCABLE LAW. This Agreement shall, in all respects, be governed by the laws of the State of [STATE] applicable to agreements executed and to be wholly performed within the state of [STATE]. SECTION 3. SEVERABILITY. Nothing contained herein shall be construed so as to require the commission of any act contrary to law, and wherever there is any conflict between any provision contained herein and any present or future statute, law, ordinance or regulation contrary to which the parties have no legal right to contract, the latter shall prevail but the provision of this Agreement which is affected shall be curtailed and limited only to the extent necessary to bring it within the requirements of the law.
SECTION 4. ENTIRE AGREEMENT. This Agreement constitutes the entire agreement of the parties with respect t