This ASSIGNMENT OF CONTRACT FOR PROPERTY SALE AND PURCHASE CONTRACT ("Assignment") is made on 02 May 2024

(1)            PARTY_1_NAME whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the "Company")

(2)            PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the "Assignor") 

(2)            PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the "Assignee") 

Whereas

(A) Assignor and Company entered into a Property Sale and Purchase Contract (the "Contract") dated CONTRACT_DATE  for the premises located at PREMISES_NAME (the "Premises"). The Contract is shown as Appendix A.  

(B) The Assignor is the current purchaser of the Premises and intends to assign and transfer the Contract to the Assignee upon the terms set out below.

(C) The Assignor wishes to be released and discharged from the Contract and the parties have agreed to the assignment of the Contract and to the substitution of Assignee as a party to the Contract in place of Assignor.

It is agreed

1. Assignment

1.1 In consideration of the mutual undertakings contained in this Contract, and with effect from the date of this Assignment, ASSIGNMENT_DATE (the "Assignment Date"):

(a) the Assignor hereby assigns and transfers to the Assignee all the Assignor's right, title, benefit and interest to, in and under the Contract to hold the same unto the Assignee absolutely, free and clear of all mortgages, charges, pledges, liens, trusts, claims and other interests.

(b) Assignee undertakes to accept, observe, perform and discharge all the liabilities and obligations as an Assignor under the Contract in substitution for the Assignor; and

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