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</o:shapelayout></xml><![endif]--></head><body lang=EN-US link="#0563C1" vlink="#954F72"><div class=WordSection1><p class=MsoNormal>Hello Listmates:<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Party A, a lender, has executed a promissory note & its DoT with Party B, a borrower. Party C, a third party, has paid Party A for the assignment of the note so that Party C receives future loan payments from Party B. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>Party B and Party C now want to modify terms and conditions of the assigned note. <o:p></o:p></p><p class=MsoListParagraph><o:p> </o:p></p><p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]>It is my understanding that, in absence of a separate assumption agreement, Party A still remains liable for any contractual obligations arising from the note. Doesn’t this mean that Party B and Party C still need Party A’s consent to change the terms and conditions of the assigned note? <o:p></o:p></p><p class=MsoListParagraph><o:p> </o:p></p><p class=MsoListParagraph style='text-indent:-.25in;mso-list:l0 level1 lfo1'><![if !supportLists]><span style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]>Party B is not completely happy with the very basic assignment agreement executed between Party A and Party C. Party B wants no chance of seeing a future dispute as to who has the DoT and the rights to receive payments. Party A and Party C do not mind re-executing a fuller assignment agreement but do not plan to hire their respective attorneys—that reminds Party B of the primary cause for their having the current assignment agreement poorly worded. Any advice for Party B?<o:p></o:p></p><p class=MsoListParagraph><o:p> </o:p></p><p class=MsoNormal>Kind regards,<o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal style='margin-bottom:8.0pt;line-height:105%'>Oscar Y. Yang, Esq. (NY, WA)<o:p></o:p></p><p class=MsoNormal style='margin-bottom:8.0pt;line-height:105%'>ES BERRY LAW PC <o:p></o:p></p><p class=MsoNormal style='margin-bottom:8.0pt;line-height:105%'>2155 112th Ave NE<o:p></o:p></p><p class=MsoNormal style='margin-bottom:8.0pt;line-height:105%'>Bellevue, WA 98004 <o:p></o:p></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'><img width=63 height=52 style='width:.6562in;height:.5416in' id="Picture_x0020_1" src="cid:image001.png@01D194B4.A2E0F150" alt=ESBERRYv2><o:p></o:p></span></p><p class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto'><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>DISCLAIMER FROM ES BERRY LAW PC: This e-mail contains proprietary information some of which may be legally privileged, confidential or protected. It is for the intended recipient only. If an addressing or transmission error has misdirected this e-mail, please notify the author by replying to it and delete it. This email is for informational purposes only and does not constitute legal advice. Unauthorized disclosure, printing, forwarding, copying, distribution or other similar use of such information is strictly prohibited. Unless specifically and clearly expressed otherwise, this email also should not be interpreted as an electronic/digital signature that can be used to authenticate a contract or other legal document. <o:p></o:p></span></p></div></body></html>