This form is an Assumption Agreement. The form provides that the grantee will assume a lien on property described in the agreement. The assumption will become effective on the date provided in the agreement.
Assignment And Assumption Agreement With Novation In Oakland
Category:
State:
Multi-State
County:
Oakland
Control #:
US-00424
Format:
Word;
Rich Text
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This Standard Document contains provisions to incorporate an assumption of the delegated obligations and an optional novation into the assignment agreement. Novation is a legal term which refers to a circumstance where a new contract takes the place of an old contract.The Parties agree to amend the Grant Agreement to reflect the change in recipient from Build. It Green to Franklin Energy Services, LLC.