Assignment and Assumption of Lease and Security Deposits. Seller shall deliver to Buyer at closing an instrument of assignment of and assumption of leases and security deposits related to the Property, assigning all of Seller’s right, title and interest in the leases to Buyer. Buyer shall sign the same, acknowledging Xxxxx’s assumption of the leases and security deposits. Seller shall also deliver all original leases to Buyer at closing. All rent and security deposits shall be prorated through the date of closing as a part of the assignment of leases.
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Samples: Auction Real Estate Purchase Agreement, Auction Real Estate Purchase Agreement, Auction Real Estate Purchase Agreement
Assignment and Assumption of Lease and Security Deposits. Seller shall deliver to Buyer at closing an instrument of assignment of and assumption of leases and security deposits related to the Property, assigning all of Seller’s right, title and interest in the leases to Buyer. Buyer shall sign the same, acknowledging Xxxxx’s assumption of the leases and security deposits. Seller shall also deliver all original leases to Buyer at closing. All rent and security deposits shall be prorated through the date of closing as a part of the assignment of leases, if applicable.
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