(form) Assignment of Promissory Note

 

Assignment  of Promissory Note

 

WHEREAS, ____________________ (hereinafter referred to as “Assignor”) is the owner and holder of the following described promissory note:

 

Maker(s): __________________________

Face amount: $_______(______________&___/100 dollars)

Interest rate: _____%

Present balance due: $________(______________&___/100 dollars)

Pay to the order of ____________________________.

 

 

NOW THEREFORE, in consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties , intending to be legally bound, agrees as follows:

 

1.  Assignor hereby assigns and transfers all his right, title and interest in the aforementioned promissory note to _________________  (the
“Assignee”).

 

2.  The Maker agrees to abide by the terms of this Assignment of Promissory Note and honor all its obligations thereunder to the Assignee.

 

3.  This assignment is without recourse to the Assignor.

 

Dated: _____________________

 

____________________________
 Assignor            

 

____________________________
 Assignee            

 

____________________________
 Maker