Assignment and Assumption of Lease
[Water Rights]
Notice of confidentiality rights: If you are a natural person, you may remove or strike any or all of the following information from any instrument that transfers an interest in real property before it is filed for record in the public records: your Social Security number or your driver’s license number.
Date:
Assignor:
Assignor’s Mailing Address:
Assignee:
Assignee’s Mailing Address:
[Real Property:]
Water Rights:
Lease
Date:
Lessor:
Lessor’s Address:
Lessee:
Lessee’s Address:
Amendments:
Consideration:
Assignor is conveying the Water Rights to Assignee by warranty deed dated this date.
Assignor, for the Consideration and subject to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty in the warranty deed, to the extent they affect the Lease, assigns to Assignee all of Assignor’s right, title, and interest in and to the Lease. Assignor binds Assignor and Assignor’s heirs and successors to warrant and forever defend all and singular Lessor’s interest in the Lease to Assignee and Assignee’s heirs, successors, and assigns against every person whomsoever lawfully claiming or to claim the same or any part thereof [include if applicable: when the claim is by, through, or under Assignor but not otherwise], except as to the Reservations from Conveyance and the Exceptions to Conveyance and Warranty in the warranty deed, to the extent they affect the Lease.
Assignee assumes and agrees to perform Lessor’s obligations under the Lease arising after this date. The obligation to repay security and prepaid rental deposits to Lessee under the Lease is limited to the amount of cash delivered or credited by Assignor to Assignee with respect to security and prepaid rental deposits. Assignee will indemnify, defend, and hold Assignor harmless from any loss, attorney’s fees, expenses, or claims arising out of or related to Assignee’s failure to perform any of the obligations of Lessor under the Lease after this date.
Assignor will indemnify, defend, and hold Assignee harmless from any loss, attorney’s fees, expenses, or claims arising out of or related to Assignor’s failure to perform any of the obligations of Lessor under the Lease before this date.
When the context requires, singular nouns and pronouns include the plural.
[Name of assignor]
[Name of assignee]
|
Include acknowledgments. Attach exhibits. |