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1. Parties: Identifies all parties including original borrower (assignor), assuming party (assignee), and lender
2. Background: Details of the original mortgage, property, and reason for assumption
3. Definitions: Key terms used throughout the agreement including Property, Original Mortgage, Assumption Date
4. Assumption of Mortgage: Core terms of assumption including outstanding balance, interest rate, and payment terms
5. Representations and Warranties: Declarations by all parties regarding their capacity and authority to enter agreement
6. Rights and Obligations: Detailed responsibilities of assignee and continuing obligations of assignor if any
7. Lender's Consent: Express approval of the lender for the mortgage assumption
8. Property Details: Legal description and status of the mortgaged property
9. Payment Terms: Schedule of payments, method of payment, and default provisions
10. Governing Law: Specification of Pakistani law and jurisdiction
11. Notices: Communication procedures between parties
12. Execution: Signature blocks and attestation requirements
1. Islamic Finance Compliance: Required when the mortgage follows Islamic banking principles
2. Co-Borrower Provisions: Included when there are multiple assuming parties
3. Property Management: Added when specific property maintenance terms need to be transferred
4. Insurance Requirements: Detailed insurance obligations if different from original mortgage
5. Release of Original Borrower: Included when original borrower is to be fully released from obligations
6. Security Deposits: Required when transfer includes existing tenant security deposits
7. Due Diligence Results: Included when specific property inspections or evaluations need to be referenced
1. Schedule A - Property Description: Detailed legal description of the property including boundaries and registration details
2. Schedule B - Original Mortgage Terms: Key terms from the original mortgage agreement being assumed
3. Schedule C - Payment Schedule: Detailed amortization schedule showing payment dates and amounts
4. Schedule D - Outstanding Balance Statement: Current mortgage balance and any arrears as of assumption date
5. Schedule E - Lender's Requirements: Specific conditions imposed by lender for assumption approval
6. Appendix 1 - Required Documents: List of documents required for mortgage assumption completion
7. Appendix 2 - Property Inspection Report: Current condition of property if required by lender
Assumption Date
Assignor
Assignee
Lender
Property
Original Mortgage
Assumed Amount
Outstanding Balance
Mortgage Terms
Effective Date
Completion Date
Default
Due Diligence
Encumbrances
Event of Default
Governmental Authority
Interest Rate
Islamic Finance Terms
Liability
Material Adverse Effect
Mortgage Deed
Original Borrower
Payment Date
Permitted Assigns
Property Documents
Registration Authority
Security Interest
Stamp Duty
Transfer Date
Title Documents
Repayment Schedule
Business Day
Applicable Law
Force Majeure
Shariah Principles
Property Description
Consideration
Representations and Warranties
Notice
Definitions
Assumption of Mortgage
Transfer of Rights
Payment Terms
Interest Rate
Security
Property Description
Representations and Warranties
Covenants
Conditions Precedent
Due Diligence
Default
Remedies
Islamic Finance Compliance
Registration Requirements
Stamp Duty
Insurance
Assignment
Property Maintenance
Indemnification
Force Majeure
Notices
Governing Law
Dispute Resolution
Severability
Amendment
Entire Agreement
Counterparts
Binding Effect
Further Assurance
Release of Original Borrower
Lender's Consent
Costs and Expenses
Banking & Finance
Real Estate
Legal Services
Islamic Banking
Property Development
Mortgage Services
Financial Advisory
Property Management
Legal
Real Estate Operations
Mortgage Processing
Risk Management
Islamic Banking
Compliance
Property Valuation
Document Management
Credit Assessment
Banking Operations
Mortgage Officer
Real Estate Lawyer
Banking Compliance Officer
Property Manager
Islamic Banking Specialist
Legal Counsel
Real Estate Agent
Financial Advisor
Property Valuation Expert
Risk Assessment Manager
Mortgage Underwriter
Document Control Specialist
Banking Operations Manager
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