DIY Legal Forms

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Assignment of Security Interest

FOR VALUE RECEIVED, on this ________ day of ________ [Month] 20 __, ________ [Name] of ________ [Address], hereinafter referred to as Assignor, does hereby sell, assign and transfer to ________, [Name] of ________ [Address], hereinafter referred to as Assignee, its successors or assigns, all right, title and interest in and to a certain security interest and debt annexed to this assignment and marked as Exhibit "A".

Warranties. Provided, however, no warranties of any kind whatsoever are made incident to this Assignment of Security Interest.

The Assignee agrees to perform all of the obligations of Assignor and receive all of the benefits of the Assignor under this Assignment. Assignee agrees to indemnify and hold Assignor harmless from any claim which may result from Assignee's failure to perform under this assignment after the date of this Assignment.

Further Assurances. From time to time each party shall execute and deliver such further instruments and shall take such other action as any other party may reasonably request in order to discharge and perform their obligations and Assignment hereunder and to give effect to the intentions expressed in this Assignment.

Severability. Should any Court hold that any portion of this Assignment is invalid, the remainder shall be in full force and effect, and the invalid portion shall be struck from the Assignment or modified as the Court shall order.

Representations. Neither party has made any representations nor promises, other than those contained in this Assignment or in some further writing signed by the party making the representation or promise.

This Assignment binds and benefits both parties and any successors. This document, including any attachments, is the entire Assignment of Security Interest between the parties.

IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed in triplicate on the day and year first above written.

[Signature]

[Assignee]

[Name]

[Signature]

[Assignor]

[Name]

ACKNOWLEDGEMENT BY NOTARY PUBLIC

State of ________)

) SS.:

County of________)

On ________, before me, ________, Notary Public, personally appeared ________, who proved to me on the basis of satisfactory evidence to be the person(s) whose names(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies) and that by his/her/their signatures on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

I certify under the PENALTY OF PERJURY under the laws of the State of _________ that the foregoing paragraph is true and correct.

WITNESS my hand and official seal.

[signature]

Name of Notary

Notary Public

My Commission Expires

[Seal]