Mortgage Assumption Agreement

(Original Mortgage Released from further Obligations)

THIS AGREEMENT made as of Date of Assumption Agreement (Should be the same date as
sale of home to purchaser) among Name of Original Homeowner (Original Mortage
Borrower), of Address of Original Homeowner (the "Original Mortgagor"), Name of Mortgage
Lender, of Address of Mortgage Lender (the "Mortgagee") and Name of Purchaser of Home,
of Address of Purchaser of Home (the "Purchaser").

WHEREAS:

(A) By mortgage dated Date of Mortgage (the "Mortgage"), and registered on Date of
Registration/Recordal of Mortgage as Number Registration Number of Mortgage, the
Mortgagor mortgaged the property described as Brief Description of Property (ie. 123
Whiteacre Road, Anyplace, Anywhere) (the "Property"), to secure payment of the
principal sum of Original Principal Amount of Mortgage (ie. $85,000.00) and interest as
therein set out;

(B) The Purchaser has purchased the Property and has agreed with the Mortgagor to assume
payment of the Mortgage and to covenant with the Mortgagee to pay the moneys secured
thereby and to observe and perform and be bound by the terms, conditions, covenants and
provisions therein contained;

(C) The principal sum of Principal Amount Outstanding on Mortgage as of Date of

Assignment (ie. $76,555.21) remains outstanding on the Mortgage as of the date hereof;

(D) The Mortgagee is prepared to permit the Purchaser to assume the obligations of the
Original Mortgagor under the Mortgage, and to release the Original Mortgagor from all of
the terms, conditions, covenants and provisions contained in the Mortgage;

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the

premises and of the premises, the mutual covenants and agreements hereinafter contained, and for
other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, it is hereby agreed that:

1. The parties hereto acknowledge and agree that the recitals herein are true and correct in
all material respects.

2. The Purchaser hereby covenants, promises and agrees to and with the Mortgagee to pay
all moneys now or hereafter due or payable under the Mortgage, and to observe, perform,
keep and be bound by every covenant, attornment, term, condition and agreement
contained in the said Mortgage to the same extent as if the Purchaser had been the original
mortgagor and as such had executed the Mortgage.

3. The Mortgagee hereby releases the Original Mortgagor from all terms, conditions,
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obligations and agreements contained in the Mortgage.

4. The Purchaser hereby acknowledges and agrees that the Mortgage is and shall be and
remain a first mortgage or charge and shall have priority for the full amount of the said
principal sum over any right, title or interest which the Purchaser may have as Purchaser
of the Property and the Purchaser covenants, promises and agrees not to alienate the
interest of the Purchaser in the Property until the full amount of the said principal sum has
been paid to the Mortgagee.

5. Except as herein provided nothing shall alter or prejudice the rights and priorities of the
Mortgagee as against any surety or any subsequent encumbrancer or other person
whomsoever interested in the Property or liable for the Mortgage debt or any part thereof
and not a party hereto, or the rights of any such Mortgagor, surety, subsequent
encumbrancer or other person, all of which rights and priorities are hereby reserved.

6. Without prejudice to its rights against the Purchaser under this Agreement the Mortgagee
may release and discharge any other person or persons from all liability under his or their
personal covenants in the Mortgage for payment of the moneys hereby secured or other
moneys payable under the Mortgage but any such release shall be without prejudice to the
rights of the Mortgagee under all other covenants and provisions contained in the
Mortgage and to their rights and remedies against the Property, all of which rights and
remedies of the Mortgagee are hereby reserved.

7. This Agreement shall be binding upon and enure to the benefit of the respective heirs,
executors, administrators, successors and assigns of the parties hereto, and wherever the
singular and masculine genders are used in this Agreement the same shall be construed as
meaning the plural and feminine or neuter genders where the fact or context so requires,
and if there be more than one Purchaser all covenants shall be deemed to be joint and
several.

IN WITNESS WHEREOF the parties hereto have executed this Agreement as of the date first
above written.

Witness Name of Original Homeowner (Original

Mortage Borrower)

Witness Name of Mortgage Lender

Witness Name of Purchaser of Home