Common use of Mortgage Assumption Clause in Contracts

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to 84 LN# in the approximate amount of $ currently payable at 85 $ per month, including principal, interest, 🞎 taxes and insurance, and having a 86 🞎 fixed 🞎 other (describe) 87 interest rate of % which 🞎 will 🞎 will not escalate upon assumption. Any variance in the mortgage 88 will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase 89 ▇▇▇▇▇▇’s escrow account dollar for dollar. If the interest rate upon transfer exceeds % or the 90 assumption/transfer fee exceeds $ , either party may elect to pay the excess, failing 91 which this Contract will terminate; and ▇▇▇▇▇’s deposit(s) will be returned. If the lender disapproves 92 Buyer, this Contract will terminate; and ▇▇▇▇▇’s deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to 84 LN# in the approximate amount of $ currently payable at 85 $ per month, including principal, interest, 🞎 taxes and insurance, and having a 86 �� fixed 🞎 other (describe) 87 interest rate of % which 🞎 will 🞎 will not escalate upon assumption. Any variance in the mortgage 88 will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase 89 ▇▇▇▇'s ▇▇’s escrow account dollar for dollar. If the interest rate upon transfer exceeds % or the 90 assumption/transfer fee exceeds $ , either party may elect to pay the excess, failing 91 which this Contract will terminate; and ▇▇▇'s ▇▇’s deposit(s) will be returned. If the lender disapproves 92 Buyer, this Contract will terminate; and ▇▇▇'s ▇▇’s deposit(s) will be returned.

Mortgage Assumption. Buyer will take title subject to and assume and pay existing first mortgage to 84 LN# in the approximate amount of $ currently payable at 85 $ per month, including principal, interest, 🞎 taxes and insurance, and having a 86 🞎 fixed 🞎 other (describe) 87 interest rate of % which 🞎 will 🞎 will not escalate upon assumption. Any variance in the mortgage 88 will be adjusted in the balance due at closing with no adjustment to purchase price. Buyer will purchase 89 ▇Seller▇▇▇▇▇’s escrow account dollar for dollar. If the interest rate upon transfer exceeds % or the 90 assumption/transfer fee exceeds $ , either party may elect to pay the excess, failing 91 which this Contract will terminate; and Buyer▇▇▇▇▇’s deposit(s) will be returned. If the lender disapproves 92 Buyer, this Contract will terminate; and Buyer▇▇▇▇▇’s deposit(s) will be returned.