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Deed In Lieu Of Foreclosure Affidavit And Indemnity Agreement

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DEED IN LIEU OF FORECLOSURE AFFIDAVIT AND INDEMNITY AGREEMENT

NOTE: THIS FORM IS TO BE USED ONLY IN SITUATIONS WHICH HAVE BEEN SPECIFICALLY

APPROVED BY AN UNDERWRITER PRIOR TO CLOSING

This DEED IN LIEU OF FORECLOSURE AFFIDAVIT AND INDEMNITY AGREEMENT (hereinafter “Agreement”) made and entered

into as of the _____ day of ___________________, 20____, by and between

(collectively, and jointly and severally if more than one, hereinafter "Affiant"), and SUMMIT TITLE INSURANCE, LLC, AGENT FOR

___________________________________________ (hereinafter "Company"). Affiant, first being duly sworn, deposes, says, and

agrees as follows:

That the Affiant has personal knowledge of the facts stated herein and gives this affidavit based upon such personal

knowledge.

This affidavit is made with respect to the sale by deed in lieu of foreclosure of a deed of trust executed by the above named

Seller in favor of ________________________ (“Lender”), for the property described in Exhibit A (the “Property”).

Lender is the holder of or agent for the holder of the indebtedness secured by the above-referenced deed of trust.

The conveyance is being made for adequate consideration: the market value of the property is $___________; the

outstanding balance of the indebtedness secured by the above–referenced deed of trust is $_____________________.

The Seller is not insolvent or in bankruptcy.

The Seller is making the conveyance voluntarily and is not under duress, undue influence or coercion by the Lender.

Seller agrees to indemnify agrees to indemnify and hold Chicago Title Insurance Company and any parties insured or

who may be insured under said title insurance commitment(s) and/or policy or policies harmless of and from any and

all loss, costs, damage and expense of every kind, including attorney’s fees, which Company and/or said parties shall

or may incur or become liable for as a result of the deed in lieu of foreclosure, directly or indirectly, including but not

limited to diminution in value, unmarketability of title and actions to enforce this Agreement.

IN WITNESS WHEREOF, this Agreement is executed as of the day and year first above written.

(SEAL)

ENTITY NAME

Printed/Typed Name:

Address:

By:

Printed/Typed Name:

(SEAL)

Title:

Printed/Typed Name:

By:

Address:

Printed/Typed Name:

Title:

(SEAL)

Printed/Typed Name:

Entity Address:

Address:

State of

County of

Signed and sworn to (or affirmed) before me this day by

[insert name(s) of principal(s)],

and I certify that each of the aforesaid person(s) personally appeared before me this day acknowledging to me that he or she signed

the foregoing document.

Date:

, Notary Public

Notary’s Printed or Typed Name

(Official/Notarial Seal)

My commission expires:

Deed In Lieu Of Foreclosure Affidavit And Indemnity Agreement

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