Jump to Section
What is an Assignment Of Loan?
Under an assignment of loan, a lender (the assignor) assigns its rights relating to a loan agreement to a new lender (the assignee). Only the assignor's rights under the loan agreement are assigned. The assignor will still have to perform any obligations it has under the facility agreement.
The debtor, the recipient of the loan, must be notified when a debt is assigned. When there is an assignment of a loan, a Notice of Assignment (NOA) is sent out to the debtor informing them that a new party is now responsible for collecting any outstanding amount.
Assignment Of Loan Sample
Exhibit 10.14
ASSIGNMENT OF LOAN DOCUMENTS
THIS ASSIGNMENT OF LOAN DOCUMENTS (this “Assignment”) is made effective as of this 17th day of June, 2011, by JPMORGAN CHASE BANK, N.A., a national banking association (“Assignor”) to and in favor of RRE IROQUOIS HOLDINGS LLC, a Delaware limited liability company (“Assignee”).
RECITALS:
A. Assignor is the legal and equitable owner and holder of that certain Promissory Note in the principal amount of $13,800,000.00 dated June 1, 2007 (the “Note”), which Note is secured by, among other things, that certain Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated June 1, 2007, executed by Brookside Iroquois, LLC, a Delaware limited liability company and GJBH Iroquois, LLC, a Delaware limited liability company, as mortgagor, in favor of Washington Mutual Bank, a federal association, as mortgagee, and recorded on June 6, 2007, in the Official Records of Philadelphia County, Pennsylvania as Document ID. 51707633. Assigned to U.S. Bank National Association, Trustee of the WAMU 2007 MF-1 Trust (“Assignee”) by Federal Deposit Insurance Corporation as Receiver for Washington Mutual Bank, FA (“Assignor”) with Assignment of Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated December 1, 2010, recorded on December 14, 2010, in the Official Records of Philadelphia County, Pennsylvania in Document ID. No. 52292850 then Assigned to JPMorgan Chase Bank, N.A. (“Assignee”) by U.S. Bank National Association, Trustee of the WAMU 2007 MF-1 Trust (“Assignor”) with Assigmnent of Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated December 2, 2010, recorded on December 14, 2010, in the Official Records of Philadelphia County, Pennsylvania in Document ID No. 52292911 (collectively, the “Mortgage”) regarding the real property as more particularly described on Exhibit A attached hereto and incorporated by this reference.
B. Assignor purchased the Mortgage from the Federal Deposit Insurance Corporation as receiver for Washington Mutual Bank.
C. Assignor has simultaneously herewith endorsed the Note to Assignee and the parties desire that the Note, the Mortgage and all other documents executed in connection with the Note be assigned to Assignee.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged:
1. Assignor hereby absolutely, irrevocably and unconditionally sells, assigns, transfers, sets over, conveys and endorses to Assignee, its successors and assigns, and Assignee hereby accepts, all of Assignor’s right, title and interest in and to the following documents (collectively, the “Loan Documents”):
(a) the Mortgage;
JPMorgan Chase – Loan No.: 625982481 Pennsylvania
(b) the Note:,
(c) All other documents that evidence or secure the obligations under the Note.
2. This Assignment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.
3. EXCEPT AS SET FORTH IN THAT CERTAIN LOAN PURCHASE AND SALE AGREEMENT BETWEEN ASSIGNOR AND ASSIGNEE, THIS ASSIGNMENT IS MADE WITHOUT RECOURSE OR WARRANTY OF ANY KIND, AND ASSIGNOR MAKES NO REPRESENTATIONS OR WARRANTY, EXPRESS OR IMPLIED, OF ANY KIND OR NATURE WHATSOEVER WITH RESPECT TO THE LOAN DOCUMENTS, THE OBLIGATIONS EVIDENCED BY THE LOAN DOCUMENTS OR THE COLLATERAL, IF ANY.
4. This Assignment shall be governed by and construed in accordance with the laws of the State of Pennsylvania.
IN WITNESS WHEREOF, Assignor has caused this Assignment to be executed in its name by duly authorized officers as of the date first above written.
ASSIGNOR | ||
JPMORGAN CHASE BANK, N.A., a national banking association | ||
By: | /s/ Charles E. Buchan | |
Name: | Charles E. Buchan | |
Title: | Authorized Officer |
JPMorgan Chase – Loan No.: 625982481 Pennsylvania
STATE OF TEXAS |
) | |
) ss: | ||
COUNTY OF DALLAS |
) |
On the 17th day of June, 2011, before me, the undersigned, personally appeared Charles E. Buchan, personally known to me or proved to me on the basis of satisfactory evidence to be the individuals whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their capacity, and that by their signature on the instrument, the individual or the person upon behalf of which the individual acted, executed the instrument.
/s/ M. Hollingsworth | ||||
Notary Public - M. Hollingsworth |
JPMorgan Chase - Loan No.: 625982481 Pennsylvania
Exhibit A
All that certain lot, piece or parcel of land, with the buildings and improvements thereon erected, situate, lying and being in the City of Philadelphia County of Philadelphia State of Pennsylvania.
ALL THAT CERTAIN lot or piece of ground with the buildings and improvements thereon erected, SITUATE in the 52nd Ward of the City and County of Philadelphia and Commonwealth of Pennsylvania, and described according to a Plan and Survey thereof made by Ezra Golub &. Associates Professional Engineer & Land Surveyors, as follows:
BEGINNING at a point on the East side of 47th Street (50 feet wide) 139 feet 6-1/8 inches measured South along said side of 47th Street from its intersection with the Southeast side of City Avenue (80 feet wide); thence (1) South 9 degrees, 51 minutes, 45 seconds East along said East side of 47th Street 177 feet 10 inches to a point which is 85 feet measured North along said side of 47th Street from its intersection with the North side of Sherwood Road (50 feet wide); thence (2) North 80 degrees, 8 minutes, 15 seconds East 166 feet to the West side of Overbrook Avenue (50 feet wide); thence (3) North 9 degrees, 51 minutes, 45 seconds West along West side of Overbrook Avenue 25 feet to a point of curve, thence (4) in a North direction along the curved West and Northwest side of Overbrook Avenue on the arc of a circle curving to the right with a radius of 176.224 feet the arc distance of 113 feet 7 inches to a point of tangency; thence (5) North 29 degrees, 30 minutes, 45.1 seconds West 135 feet 7-5/8 inches to a point which is 107 feet 8-1/4 inches Southeast from the Southeast side of City Avenue when measured at right angles thereto; thence (6) South 9 degrees, 51 minutes. 45 seconds East 80 feet, 9-3/8 inches; and thence (7) South 80 degrees, 8 minutes, 15 seconds West 155 feel 9 inches to the East side of 47th Street and place of beginning.
The above description is in accordance with a survey made by Ezra Golub Associates dated 03/14/2006.
NOTE: Being Parcel No. 88-1157500 of the City of Philadelphia, County of Philadelphia.
NOTE: Parcel No, shown for informational purposes only.
JPMorgan Chase – Loan No.: 625982481 Pennsylvania
This instrument prepared by and After Recording Return to: | ||
BRT No. |
[Property Identifier]
ASSIGNMENT OF MORTGAGE
FOR VALUE RECEIVED, on June 17, 2011, the undersigned JPMORGAN CHASE BANK, N.A. (“Assignor”), hereby assigns, transfers and sets over to RRE IROQUOIS HOLDINGS LLC, a Delaware limited liability company (“Assignee”), without recourse, representation or warranty, express or implied, all beneficial interest of Assignor under that certain Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing (the “Mortgage”), dated June 1, 2007, and executed by Brookside Iroquois, LLC, a Delaware limited liability company and GJBH Iroquois, LLC, a Delaware limited liability company, as Mortgagor, to Washington Mutual Bank, a Federal Association, predecessor-in-interest to the Assignor, recorded on June 6, 2007, in the Office of Commissioner of Records for Philadelphia County, Pennsylvania with Document ID No. 51707633, and encumbering certain real property, commonly known as 2801-2805 North 47th Street, Philadelphia, PA 19131, more particularly described therein, and on Exhibit A attached hereto. Assigned to U.S. Bank National Association, Trustee of the WAMU 2007 MF-1 Trust (“Assignee”) by Federal Deposit Insurance Corporation as Receiver for Washington Mutual Bank, FA (“Assignor”) with Assignment of Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated December 1, 2010, recorded on December 14, 2010, in the Official Records of Philadelphia County, Pennsylvania in Document ID. No. 52292850 then Assigned to JPMorgan Chase Bank, N.A. (“Assignee”) by U.S. Bank National Association, Trustee of the WAMU 2007 MF-1 Trust (“Assignor”) with Assignment of Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated December 2, 2010, recorded on December 14, 2010, in the Official Records of Philadelphia County, Pennsylvania in Document ID No. 52292911 (collectively, the “Mortgage”) regarding the real property as more particularly described on Exhibit A attached hereto and incorporated by this reference.
SIGNATURE PAGES TO FOLLOW
JPMorgan Chase – Loan No.: 625982481 Pennsylvania
ASSIGNOR: | ||
JPMORGAN CHASE BANK, N.A. | ||
By: | /s/ Charles E. Buchan | |
Name: | Charles E. Buchan | |
Title: | Authorized Officer |
STATE OF TEXAS | ) | |||
) ss: | ||||
COUNTY OF DALLAS | ) |
On the 17th day of June, 2011, before me, the undersigned, personally appeared Charles E. Buchan, personally known to me or proved to me on the basis of satisfactory evidence to be the individuals whose names are subscribed to the within instrument and acknowledged to me that they executed the same in their capacity, and that by their signature on the instrument, the individual or the person upon behalf of which the individual acted, executed the instrument.
/s/ M. Hollingsworth |
Notary Public- M. Hollingsworth |
JPMorgan Chase – Loan No.: 625982481 Pennsylvania
The principal place of business and complete post office address of Assignee is: | ||||
Attn.: | ||||
By: | ||||
The address of Assignee for the Purpose of 42 Pa.C.S. §8143(d) is: | ||||
Attn.: | ||||
By: |
JPMorgan Chase – Loan No.: 625982481 Pennsylvania
Exhibit A
All that certain lot, piece or parcel of land, with the buildings and improvements thereon erected, situate, lying and being in the City of Philadelphia County of Philadelphia State of Pennsylvania.
ALL THAT CERTAIN lot or piece of ground with the buildings and improvements thereon erected, SITUATE in the 52nd Ward of the City and County of Philadelphia and Commonwealth of Pennsylvania, and described according to a Plan and Survey thereof made by Ezra Golub & Associates Professional Engineer & Land Surveyors, as follows:
BEGINNING at a point on the East side of 47th Street (50 feet wide) 139 feet 6- 1/8 inches measured South along said side of 47th Street from its intersection with the Southeast side of City Avenue (80 feet wide); thence (1) South 9 degrees, 51 minutes, 45 seconds East along said East side of 47th Street 177 feet 10 inches to a point which is 85 Feet measured North along said side of 47th Street from its intersection with the North side of Sherwood Road (50 feet wide); thence (2) North 80 degrees, 8 minutes, 15 seconds East 166 feet to the West side of Overbrook Avenue (50 feet wide); thence (3) North 9 degrees, 51 minutes, 45 seconds West along West side of Overbrook Avenue 25 feet to a point of curve; thence (4) in a North direction along the curved West and Northwest side of Overbrook Avenue on the arc of a circle curving to the right with a radius of 176.224 feet the arc distance of 113 feet 7 inches to a point of tangency; thence (5) North 29 degrees, 30 minutes, 45.1 seconds West 135 feet 7- 5/8 inches to a point which is 107 feet 8- 1/4 inches Southeast from the Southeast side of City Avenue when measured at right angles thereto; thence (6) South 9 degrees, 51 minutes, 45 seconds East 80 feet, 9- 3/8 inches; and thence (7) South 80 degrees. 8 minutes, 15 seconds West 155 feet 9 inches to the East side of 47th Street and place of beginning.
The above description is in accordance with a survey made by Ezra Golub Associates dated 03/14/2006.
NOTE: Being Parcel No. 88-1157500 of the City of Philadelphia, County of Philadelphia.
NOTE: Parcel No. shown for informational purposes only.
JPMorgan Chase – Loan No.: 625982481 Pennsylvania
Reference:
Security Exchange Commission - Edgar Database, EX-10.14 5 dex1014.htm ASSIGNMENT OF LOAN DOCUMENTS, Viewed October 21, 2021, View Source on SEC.
Who Helps With Assignment Of Loans?
Lawyers with backgrounds working on assignment of loans work with clients to help. Do you need help with an assignment of loan?
Post a project in ContractsCounsel's marketplace to get free bids from lawyers to draft, review, or negotiate assignment of loans. All lawyers are vetted by our team and peer reviewed by our customers for you to explore before hiring.
Meet some of our Assignment Of Loan Lawyers
Nicholas V.
I am a solo practitioner with offices in Denver, Colorado and Austin, Texas with a focus on general business and real estate contracts.
David H.
Michigan licensed attorney. A compelling combination of technology, sourcing, sales, and legal experience. Over 20 years in technology positions negotiating technology engagements and contracts. General practice legal experience. Significant IT contracts experience (from IT sourcing/procurement) with the State of Michigan and Zimmer Biomet (Fortune 500). Excellent people, negotiation, and writing skills; keen eye for continuous improvement. Trusted business partner co-leading or supporting cross-functional integrated business/IT projects.
Michael C.
A seasoned senior executive with experience leading the legal and compliance functions of healthcare entities through high-growth periods. I have experience managing voluminous litigation caseloads, while also handling all pre-litigation investigations for employment, healthcare regulatory, and compliance matters. Similarly, I have led multiple M&A teams through purchase and sale processes, including diligence and contract negotiations. Finally, I have extensive contract review experience in all matters, including debt and equity financing, healthcare payor contracting, vendor and employment agreements, as well as service and procurement agreements.
Kelvin R.
Experienced business and contract lawyer. Our firm specializes in commercial litigation and dispute resolution.
March 14, 2022
Jessee B.
Whether you're thinking of starting your own business and not sure how to bring your vision to life, or you're a business owner, creative professional, creator, influencer, artist, musician, startup, nonprofit, or entrepreneur who wants to grow your business and protect your content and brand—I can help. Get experienced legal counsel, quality representation, and creative solutions customized to fit your unique needs. Services include: entity formation, business issues, planning, financing, and strategy; contract drafting, review, and negotiation; intellectual property protection; copyright and trademark filing; startup and nonprofit setup and guidance; real estate matters; property purchase, sale, and leasing; assistance with legal issues related to content creation, branding, design, writing, film, music, art, entertainment, social media, e-commerce, marketing, advertising, data and privacy compliance, and more. Questions? Let's work together. Reach out and say hello.
March 8, 2022
Stephanie C.
Alabama Licensed Attorney offering Freelance Services for Wills, Trusts, Probate, Family Law Documents, Criminal Matters, and Real Estate Closings.
March 10, 2022
Benjamin V.
My practice involves counseling businesses and individuals on a variety of contracts, such as business formation, technology/IP, real estate, leases, and even domestic relations agreements. Much of my practice is dedicated to litigation. As such, I approach contract and transactional work from a litigation perspective by advising clients of the risks involved in failing to develop proper contracts. It takes more than knowledge of the law to be a good lawyer. A good lawyer is honest and forthcoming with clients and has a counseling ethos. And, to me, a good lawyer stands in the shoes of the client when considering how to best serve that client. Whether my client is a business or an individual, I am passionate about helping my clients understand their rights, responsibilities, risks, and possibilities.
Find the best lawyer for your project
Browse Lawyers NowHow It Works
Financial lawyers by top cities
- Austin Financial Lawyers
- Boston Financial Lawyers
- Chicago Financial Lawyers
- Dallas Financial Lawyers
- Denver Financial Lawyers
- Houston Financial Lawyers
- Los Angeles Financial Lawyers
- New York Financial Lawyers
- Phoenix Financial Lawyers
- San Diego Financial Lawyers
- Tampa Financial Lawyers
Assignment Of Loan lawyers by city
- Austin Assignment Of Loan Lawyers
- Boston Assignment Of Loan Lawyers
- Chicago Assignment Of Loan Lawyers
- Dallas Assignment Of Loan Lawyers
- Denver Assignment Of Loan Lawyers
- Houston Assignment Of Loan Lawyers
- Los Angeles Assignment Of Loan Lawyers
- New York Assignment Of Loan Lawyers
- Phoenix Assignment Of Loan Lawyers
- San Diego Assignment Of Loan Lawyers
- Tampa Assignment Of Loan Lawyers
related contracts
- Accredited Investor Questionnaire
- Adverse Action Notice
- Bridge Loan
- Bridge Loan Contract
- Collateral Assignment
- Commercial Loan
- Convertible Bonds
- Convertible Note
- Convertible Preferred Stock
- Cumulative Preferred Stock
other helpful articles
- How much does it cost to draft a contract?
- Do Contract Lawyers Use Templates?
- How do Contract Lawyers charge?
- Business Contract Lawyers: How Can They Help?
- What to look for when hiring a lawyer
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
View Trustpilot ReviewContracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.
View Trustpilot ReviewI never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.
View Trustpilot ReviewI got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.
View Trustpilot Review