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ATTACHMENT 12 9/1/04 PROMISSORY NOTE ASSIGNMENT 1. FOR VALUE RECEIVED, the undersigned PARKING AUTHORITY OF THE CITY OF SANTA MONICA (Authority), hereby assigns, transfers and sets over unto CITY
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How to Fill Out Promissory Note Assignment:

01
Start by writing the date at the top of the promissory note. This is important as it establishes when the agreement was made.
02
Identify the parties involved. Clearly write the names and contact information of both the borrower (the person borrowing money) and the lender (the person lending the money). Include their full names, addresses, and phone numbers.
03
Specify the amount of money being borrowed. Write down the exact amount in both numeric and written form. For example, if the borrower is borrowing $1,000, write "One Thousand Dollars ($1,000)."
04
Define the terms and conditions of repayment. Clearly state the interest rate, if applicable, and the time frame in which the borrower should repay the loan. Include any penalties or late fees that may apply.
05
Outline the payment schedule. Specify how often the borrower should make payments (e.g., monthly, quarterly) and the due dates for each payment. Include details on the preferred method of payment, such as check or bank transfer.
06
Include any additional terms or conditions. If there are any special agreements between the borrower and lender, such as collateral or specific actions required in case of default, make sure to include them in the promissory note.

Who Needs Promissory Note Assignment:

01
Individuals borrowing money: If you need to borrow money from a friend, family member, or business associate, a promissory note helps establish the terms of the loan and protects both parties.
02
Lenders or creditors: If you are lending money to someone, a promissory note provides legal documentation of the agreement, ensuring repayment and potentially allowing for legal action in case of default.
03
Small business owners: If you are a small business owner extending credit to customers or suppliers, using a promissory note can help clarify terms of repayment and protect your business interests.
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A promissory note assignment is the transfer of ownership of a promissory note from one party to another.
The party receiving the promissory note assignment is required to file the assignment.
To fill out a promissory note assignment, include details of the transferor, transferee, date of assignment, and terms of the promissory note.
The purpose of a promissory note assignment is to legally transfer the rights and obligations of a promissory note from one party to another.
The promissory note assignment should include details of the original note, parties involved in the assignment, date of assignment, and signatures of all parties.
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