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Assignment by a Mortgage Lender (Assignor) to a Creditor of the Mortgage Lender Assigning all of the Mortgage Lender's rights in a Mortgage to the Creditor as security for monies owing by the Mortgage Lender to the Creditor
Details:
Assignment by a Mortgage Lender (Assignor) to a Creditor of the Mortgage Lender Assigning all of the Mortgage Lender's rights in a Mortgage to the Creditor as security for monies owing by the Mortgage Lender to the Creditor.
Form Outline:
Assignment of Mortgage as Security
THIS ASSIGNMENT...
WHEREAS:
By a mortgage dated...
There is now owing upon the Mortgage for principal...
The Assignor has agreed to...
NOW THEREFORE, in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:
1. The Assignor hereby assigns, transfers and sets over...
2. The Assignor hereby covenants...
3. The Assignee may collect, realize, sell or otherwise deal with...
4. The Assignee shall not be liable or accountable for...
5. The Assignee may grant...
6. All moneys collected or received by the Assignor in respect of...
7. All moneys collected or received by the Assignee in respect of the Mortgage (whether by virtue of paragraph 6 or otherwise) may be...
8. The Assignor shall from time to time forthwith on...
9. The provisions hereof shall enure...
Date: Date of Assignment
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