§ 2-4.604. Form of Assignment.

The assignment, agreement by assignor, statement of, and agreement of, the savings and loan association, and the name of the appropriate officer shall be in substantially the following form:

ASSIGNMENT

SECURITY FOR: ___________ hereinafter called ASSIGNOR, whose principal place of business is _____

_____ (Street)	_____ (City)

 

do (does) hereby assign, and set over to the City of Modesto, all right, title, and interest of whatever nature, of assignor, in and to the insured account of assignor in the _____

(Name of Savings and Loan Asso.)

evidenced by a FULLY PAID CERTIFICATE (or SHARE or SHARES) in the amount of $_______ numbered ;RULE;, which is delivered to the City of Modesto herewith. Assignor agrees that this assignment carries with it the right in the insurance of the account by the Federal Savings and Loan Insurance Corporation, and includes and gives the right to the City of Modesto to redeem, collect and withdraw the full amount of such account at any time WITHOUT NOTICE TO ASSIGNOR. This assignment is given as security for liability for ___________, including interest and penalties, and to insure compliance with the applicable Part or Parts of the Modesto Municipal Code.

Assignor hereby notifies the above-named Savings and Loan Association of this assignment.

Dated this _______ day of ________, 19___

_______
;eol_______

RECEIPT FOR NOTICE OF ASSIGNMENT

Receipt is hereby acknowledged to the City of Modesto of written notice of the assignment to said City of the account and Certificate (or Share or Shares) identified above. We have noted in our records the City's interest in said account as shown by the above assignment and have retained a copy of this sheet. We certify that this account is fully insured by the Federal Savings and Loan Insurance Corporation and that we have received no notice of any lien, encumbrance, hold, claim, or obligation of the above-identified account prior to the assignment to the City of Modesto. We agree to make payment to the City of Modesto upon request in accordance with the savings and loan laws applicable to this association.

Dated this _______ day of ________, 19___

_____
(Name of Savings and Loan Asso.)	(Street)	(City)
By _____ (Name and Title of Officer)

 

RECEIPT FOR CERTIFICATE
(or SHARE or SHARES)
AND DIRECTION TO PAY EARNINGS

Receipt is acknowledged of the above assignment and the Certificate (or share or shares) identified in the above assignment. The savings and loan association named in the above assignment is hereby authorized and directed to pay any earnings on the above identified account to the above-named assignor until otherwise notified in writing by the ___________ of the City of Modesto.

Dated this _______ day of ________, 19___

CITY OF MODESTO
By _____ (Authorized Officer or Employee)

 

(Added by Ord. 545-C.S., effective 12-25-62)