Common use of Assumption of Existing Loan Clause in Contracts

Assumption of Existing Loan. Except as may be provided in Section 2 of this Assumption Addendum, Buyer shall assume and pay an existing loan (the “Existing Loan”) in the approximate amount of $ . The Existing Loan is presently payable at $ per month including: [ ] principal and interest (presently at % per annum); [ ] real estate taxes; [ ] property insurance premium; [ ] mortgage insurance premium. Xxxxxx agrees to provide to Buyer (as an additional Seller Disclosure under Section 7 of the REPC) copies of any notes and trust deeds to be assumed by Xxxxx. Seller represents that the Existing Loan is assumable. Xxxxx agrees to make application to the Lender to assume the Existing Loan, if required.

Assumption of Existing Loan. Except as may be provided in Section 2 of this Assumption Addendum, Buyer shall assume and pay an existing loan (the “Existing Loan”) in the approximate amount of $ . The Existing Loan is presently payable at $ per month including: [ ] principal and interest (presently at % %per annum); [ ] real estate taxes; [ ] property insurance premium; [ ] mortgage insurance premium. Xxxxxx Seller agrees to provide to Buyer (as an additional Seller Disclosure under Section 7 of the REPC) copies of any notes and trust deeds to be assumed by XxxxxBuyer. Seller represents that the Existing Loan is assumable. Xxxxx Buyer agrees to make application to the Lender to assume the Existing Loan, if required.

Assumption of Existing Loan. Except as may be provided in Section 2 of this Assumption Addendum, Buyer shall assume and pay an existing loan (the “Existing Loan”) in the approximate amount of $ . The Existing Loan is presently payable at $ per month including: [ ] principal and interest (presently at % %per annum); [ ] real estate taxes; [ ] property insurance premium; [ ] mortgage insurance premium. Xxxxxx Seller agrees to provide to Buyer Xxxxx (as an additional Seller Disclosure under Section 7 of the REPC) copies of any notes and trust deeds to be assumed by Xxxxx. Seller represents that the Existing Loan is assumable. Xxxxx agrees to make application to the Lender to assume the Existing Loan, if required.

Assumption of Existing Loan. Except as may be provided in Section 2 of this Assumption Addendum, Buyer shall assume and pay an existing loan (the “Existing Loan”) in the approximate amount of $ . The Existing Loan is presently payable at $ per month including: [ ] principal and interest (presently at % per annum); [ ] real estate taxes; [ ] property insurance premium; [ ] mortgage insurance premium. Xxxxxx Seller agrees to provide to Buyer (as an additional Seller Disclosure under Section 7 of the REPC) copies of any notes and trust deeds to be assumed by XxxxxBuyer. Seller represents that the Existing Loan is assumable. Xxxxx Buyer agrees to make application to the Lender to assume the Existing Loan, if required.