Assignment of Contract (Correct Version)

ASSIGNMENT OF CONTRACT AGREEMENT
THIS ASSIGNMENT is made this ----------------, 2018 , WITNESSETH THAT:
WHEREAS,------------------------------- the Assignor (hereinafter “Assignor”), has a Contract to

Purchase Agreement (see attached Exhibit “A”) for the purchase of the real property located at
------------------------------ (hereinafter the “Premises”); and
WHEREAS, -----------------------------------
, (hereinafter “Assignee”) is desirous of purchasing all rights, title and
interest in said Contract to Purchase Agreement; and
WHEREAS, ----------------------------------, is the ("Seller") of the aforementioned Premises;
NOW, WHEREFORE, IT IS hereby agreed that:
● In consideration of --------------------------------Dollars ($----------------) and other good and

valuable consideration, the rights and obligations as set forth in the Contract to Purchase
Agreement between ----------------------------- (Seller) and --------------------------, (Assignor),
dated ------------------------ 2018 shall be assigned from Assignor to Assignee effective
upon the receipt of the aforesaid funds which amount Assignee, within two days of the
ratification of this Assignment, shall forward in full to, and be held in escrow by , title
company handling the closing for the above property
● Assignee shall reimburse Assignor at settlement for all funds expended by Assignor,
including but not limited to earnest money deposits, inspections, and any other costs
connected to the underlying purchase agreement which is the subject of this assignment
agreement.
● This Assignment Agreement shall be construed, interpreted and enforced according to

the laws of the State of ----------------------, without regard to principles of conflict of laws.
● In the event Assignee does not perform under this Assignment of Contract Agreement or
is in default due to Assignee’s failure to comply with the terms, covenants and conditions
of this Contract, Assignor shall retain Assignee’s Deposit as liquated damages. Assignor
retains the right to assign all rights and privileges to another party if Assignee is in
default. In the event it becomes necessary for either party hereto to file suit to enforce
this Assignment Agreement or any provision contained herein, the party prevailing in
such suit shall be entitled to recover, in addition to all other remedies or damages,
reasonable attorney fees incurred in such suit.
● Electronic Delivery and Counterparts: The parties agree that this Assignment Agreement
shall be deemed validly executed and delivered by a party if a party executes this
Assignment Agreement and delivers a copy of the executed Agreement to the other party
by email, telefax or telecopier transmittal. This Agreement may be executed in
counterparts and when taken together shall constitute and bind the parties as if one
Assignment Agreement had been executed.
● This assignment of contract is solely between the undersigned parties and is non-
assignable.
● Assignor will not be held responsible for the performance of the Assignee, and shall
further be held harmless for any other circumstances arising from or in connection with
the property.
IN WITNESS WHEREOF, The parties hereto have duly executed this Assignment
Agreement and affixed their seals as of the date and year first above written.
Addendum:
1) The Assignee shall pay Assignor an assignment fee in the amount of $-----------------. payable
at closing of the transaction between Assignee and seller.
2) Assignee shall make a non-refundable deposit of $------------------. By -------------------, 2018, to

designated closing agent: -----------------.
3) In the event that assignee fails to close this transaction or is in default of this agreement, the
assignor shall have the right to terminate this agreement of contract and declare the assignee in
default, wherein, assignor shall (a) retain the sum of $------------------- as liquidated damages and
(b) all right, title, and interest pursuant to the Real Estate Purchase Contract shall automatically
revert to the assignor without notice.
4) Should seller not close, escrow is to return Assignee's deposit in full
5) This contract is contingent upon Clear Title
ASSIGNOR ASSIGNEE
____________________________
Print Name Print Name
_____________________________
Sign Sign
Date
Date
Print Name
Sign
Date

Assignment of Contract (Correct Version)

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ASSIGNMENT OF CONTRACT AGREEMENT

THIS ASSIGNMENT is made this ----------------, 2018 , WITNESSETH THAT:

WHEREAS,------------------------------- the Assignor (hereinafter “Assignor”), has a Contract to

WHEREAS, ----------------------------------, is the ("Seller") of the aforementioned Premises;

NOW, WHEREFORE, IT IS hereby agreed that:

● In consideration of --------------------------------Dollars ($----------------) and other good and

● This Assignment Agreement shall be construed, interpreted and enforced according to

2) Assignee shall make a non-refundable deposit of $------------------. By -------------------, 2018, to

4) Should seller not close, escrow is to return Assignee's deposit in full

5) This contract is contingent upon Clear Title

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