Assignment Of Site Lease printable pdf download

Form 1093 (04-20-2007)

SRF # __________________

ASSIGNMENT OF SITE LEASE

TO:

ROYAL BANK OF CANADA

(name of borrower)

FROM:

RE:

(full description of mobile home)

(address of mobile home

park or address of land)

(landlord's name)

WHEREAS:

The Customer is in occupation or possession of a lot or parcel of land owned

by the Landlord under a written agreement dated the _______ day of

(date of site lease)

_____________________, 20___, between the Landlord and the Customer, a true

copy of which is attached hereto, or pursuant to other arrangements or

agreements between the Landlord and the Customer that are governed by any

applicable statutory or written conditions or provisions (the "Site Lease").

The Customer has by separate agreement granted to the Bank a security

interest (in Quebec, a hypothec) in the Mobile Home (including all parts,

accessories,

attachments, additions or accessions thereto, hereinafter, the

"Attachments") and has agreed to provide the Bank with an assignment of its

interest as tenant under the Site Lease.

NOW THEREFORE, for valuable consideration, the receipt and sufficiency of

which is hereby acknowledged, the Customer agrees with the Bank as follows:

1. (Inapplicable in Quebec). The Customer hereby irrevocably assigns to the

Bank by way of sub-lease its interest in the Site Lease, including any

renewals, reserving the last day of the Site Lease; however, the Customer

shall hold such last day (whether the last day of the present term or of

any renewal) in trust for the Bank to be dealt with as the Bank

determines, and the Customer appoints the Bank to be its attorney for

such purpose.

(Applicable in Quebec only). The Customer herby irrevocably assigns to

the Bank its interest in the Site Lease, including any amendments and

renewals. This assignment is conditional upon the occurrence of either of

the events referred to in Section 7 hereof.

2. (Inapplicable in Quebec). This assignment is security for the payment and

satisfaction of any and all obligations, indebtedness and liability of the

Customer to the Bank (including interest thereon), present or future,

direct or indirect, absolute or contingent, matured or not, extended or

renewed, wheresoever and howsoever incurred and the ultimate unpaid

balance thereof and whether the same is from time to time reduced and

thereafter increased or entirely extinguished and thereafter incurred again

and whether the Customer be bound alone or with another or others and

whether as principal or surety.

Assignment Of Site Lease

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