Version 13 2 PURCHASE AND ASSUMPTION AGREEMENT. Santa Clara, California.1. Read the agreement carefully to understand the obligations. Once completed, note the SST number and come into our office to finish the process. All parties must complete the ADR Stipulation and Order Form, (attached local form CV-5008), checking the box "Early Settlement. Upon assignment of the note, an assignment and assumption agreement from Housing Trust to the County will be recorded. The County will then wire funds to. Get to grips with assumption agreements. This simple guide explains their purpose, key elements, and how they affect your business dealings.