Fillable Printable Contract Assignment Form Template
Fillable Printable Contract Assignment Form Template
Contract Assignment Form Template
STANDARD'CONTRACT'ASSIGNMENT'ADDENDUM'
!
This!is!an!addendum!made!on!the!'__________'of__________________________________'by!
____________________________________!(“Assignee”)!in!consideration!
for______________________________________!(“Assignor”)!agreeing!to!assign!all!their!rights!
and!interest!to!the!Purchase!Agreement!dated!___________________!for!the!“Property”!
located!at!_______________________________________________________,!with!a!legal!description!
of!____________________________________________!in!exchange!for!Assignee!agreeing!to!be!
responsible!for!and!accepting!to!pay!Assignor!an!assignment!fee!of!
_______________________________________!and!00/100!Dollars!($____________.00)!on!or!before!
the!closing!or!settlement!date.!!If!the!assignment!is!paid!at!closing,!this!fee!shall!be!
made!out!to!Assignor!on!the!HUD!settlement!statement.!!Further,!Assignee!agrees!to!
pay!a!NON#REFUNDABE!!deposit!to!Assignor!due!at!the!execution!of!this!Assignment!
of!________________________________________!and!00/100!Dollars!($____________.00)!which!is!
refundable!ONLY!!if!title!is!not!clear!and!conveyable.!!The!deposit!is!a!credit!towards!
the!Assignment!Fee.!
The!parties!acknowledge!that!Assignee!is!agreeing!to!all!terms,!clauses,!and!
conditions!of!the!Purchase!Agreement!and!by!executing!below!is!agreeing!to!be!
liable!for!any!and!all!of!Assignor’s!obligations!and!liabilities!in!the!Purchase!
Agreement.!!Further,!Assignee!hereby!agrees!to!indemnify!and!hold!Assignor!
harmless!from!any!claim,!fee,!expense,!costs,!demand,!obligation,!liability,!or!
obligation!related!to!this!Assignment,!the!original!Purchase!Agreement,!the!Property!
or!this!matter.!
Assignee!hereby!agrees!to!close!on!the!Property!per!the!original!Purchase!
Agreement!on!or!before!________________________.!If!Assignee!doesn’t!close!by!this!date,!
Assignor!shall!have!the!right!in!their!sole!discretion!to!terminate!this!Agreement,!
assign!the!Purchase!Agreement!to!a!third!party,!purchase!the!property,!and!take!
legal!action!against!Assignee!for!any!and!all!damages!or!liability!this!causes.!!
Further,!Assignee!agrees!to!forfeit!the!Ernest!Money!Deposit!to!Assignor.!!Should!
Assignor!fail!to!act!timely!and!take!the!above!actions,!the!parties!agree!that!Assignor!
retains!and!is!NOT!waiving!said!rights.!
NOTE:!!The!Purchase!Agreement!is!a!subject!to!transaction,!Assignee!is!purchasing!
the!property!subject!to!the!existing!liens!on!the!property!and!understands!and!is!
fully!aware!of!what!this!means,!including!being!aware!of!all!of!their!liabilities!and!
consequences!they!may!incur!by!purchasing!a!subject!to.!!This!may!include,!but!is!
not!limited!to!the!Lender!calling!in!the!Note,!charging!fees,!or!foreclosing.!!Further,!
the!parties!acknowledge!that!Assignor!at!this!time!does!not!know!the!exact!balance!
of!the!subject!to!loan,!is!not!guaranteeing!the!balance!and!Assignee!agrees!that!they!
have!done!the!necessary!due!diligence,!understands!all!facts!and!agree!this!
agreement!and!hold!the!Assignor!harmless!from!any!claims,!damages,!liability,!
obligation,!fee,!costs,!or!expense!in!regards!to!this!matter.!!!
This!addendum!super!cedes!all!the!other!addendums!written!before!this!date.!
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!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!AGREED'AND'ACCEPTED:'
'
Assignor'
'____________________________________________________'''''''''''Date:'______________:'
'
Assignee''
_____________________________________________________'''''''''''Date:'______________'
