Please find the contract of Agreement Assume Debt below

THIS AGREEMENT IS MADE the ___________________day of _____________________ 19_____________

BETWEEN

1) ________________________of ___________________________(the “Creditor”)

2) ________________________of ___________________________(the “Debtor”); and
3) ______________________________of _____________________(the “Customer”)

1. The customer acknowledges that the customer presently owed the creditor the sum of (the “Dept) and that the customer is currently in the possession of certain assets or goods which are the property of the creditor (the”Goods”)

2. The Debtor unconditionally and irrevocably agrees to assume and pay the debt, and otherwise guarantees to the creditor payment of the debt and to indemnity and hold harmless the creditor from any toss thereto in return for the transfer of the goods from the customer to the debtor.

3. The debt shall be due and payable on the following terms: __________________________________________________________________ __________________________________________________________________

4. Nothing in this agreement shall constitute a release or discharge of the obligations of the customers to the creditor for the payment of the debt, provided that to long as the debtor shall promptly pay the debt in the manner above described, the creditor shall forebear in commencing any action against the customer. In the event of any default, the creditor shall have full rights, jointly and severally, against both the customer and/or the debtor for any balance then owing.

5. This agreement shall be binding upon and inure to the benefit of the parties, their successors and assigns.

IN WITNESS OFWHICH the parties have signed this agreement the day and year first above written

___________________________
Signed by or on behalf of the creditor
___________________________
In the presence of (witness)
Name
_______________________________
Address
_______________________________
_______________________________
Occupation
_______________________________
Signed by or on behalf of the customer in
The presence of (witness)
________________________________
Name
________________________________
Address
________________________________
___________________________________
Occupation

______________________________

Signed by or on behalf of the debtor
_______________________________
(In the presence of (witness)
Name
_______________________________
Address
_______________________________
_______________________________
Occupation
_______________________________

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