DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
ASSIGNMENT
Project Name: /FHA No. – Form No. 289
For use in connection with Assignment of Credit and Security Instruments to
the United States Secretary of Housing and Urban Development
KNOW ALL MEN BY THESE PRESENTS: THAT
WHEREAS, as of the __ day of [month], [year], [Exact Name of the Mortgagor], (hereinafter called "Mortgagor") executed a certain [Note] (hereinafter called “Credit Instrument”)
in favor
of , in the principal amount of $
with interest thereon
payable as therein provided, together with [Mortgage/Deed/Security
Instrument] which was recorded on [Date of Recordation], [as Document
No./Instrument No./ Book, Page], [in the recordings of [County],
[State]], [as amended/modified by (include any amendments or
modifications to the Mortgage/Deed/Security Instrument)] (hereinafter
referred to as “Mortgage”), securing said Credit
Instrument which bound the Mortgagor as therein provided and at the
time of the hereinafter mentioned assignment of said Mortgage and
Credit Instrument the undersigned was the lawful holder thereof; and
WHEREAS, the Mortgagor having failed to make certain payments required to be made by the terms of the said Credit Instrument and Mortgage, the said instruments are in default; and
WHEREAS, the undersigned has elected, under the provisions of the National Housing Act, as amended, to assign said Mortgage and Credit Instrument to the United States Secretary of Housing and Urban Development;
NOW, THEREFORE, [exact name of the undersigned], a [type of corporation of undersigned] organized and existing under and by virtue of the laws of [jurisdiction of
incorporation],
having its principal office at , on behalf of itself, its
successors
and assigns, and in consideration of the issuance to it of Insurance
Benefits and a Certificate of Claim, does hereby sell, assign,
transfer and set over, but without recourse or warranty, except as
hereinafter stated, unto the United States Secretary of Housing and
Urban Development, his/her successors and assigns, all rights and
interest arising under the Mortgage and Credit Instrument so in
default, and all claims against the Mortgagor, or others, arising out
of the Mortgage transaction.
The undersigned does hereby warrant that no act or omission of the undersigned has impaired the validity or priority of the instruments and rights assigned herein, and that it has the right to assign same.
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` form HUD 2510
IN WITNESS WHEREOF, the undersigned, pursuant to a resolution of its Board of Directors, or other duly qualified authority, has caused this instrument to be executed in its behalf by [name and title of officer], and attested by its [name and title of officer] dated and effective as of the __ day of [month], [year].
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` form
HUD 2510
[Signature Block of Undersigned]
By:
Name:
Title:
Witness:
STATE OF )
CITY/COUNTY OF )
On , ____, before me, , personally appeared
, personally known to me (or proven to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged that he/she executed the same in his/her authorized capacity and that by his/her signature on the instrument the person or the entity upon behalf of which the person acted, executed the instrument.
Notary Public
My Commission Expires:
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` form HUD 2510
File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
File Title | Exhibit B to Legal Instructions - Form 289 Assignment |
Author | Huang, Helen C |
File Modified | 0000-00-00 |
File Created | 2023-08-30 |