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Assignment and Assumption Agreement

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Title:

Assignment and Assumption Agreement

Entities:

FiNet.com, Inc.

Date:

2000

Size:

4KB total

Price:

$36

ID:

#346410

► Legal ► Assumption ► Assignment & Assumption Agreements
► Financial ► Consumer Financial Services

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                       ASSIGNMENT AND ASSUMPTION AGREEMENT







         THIS ASSIGNMENT AND ASSUMPTION AGREEMENT (this "Agreement") is entered

into as of June __, 2000 by and between Lowestrate.com, Inc., a Pennsylvania

corporation ("Lowestrate"), Robert J. Ross ("Shareholder") and FiNet.com, Inc.,

a Delaware corporation ("FiNet").



                               W IT N E S S E T H:



         WHEREAS, the parties hereto entered into an Asset Purchase Agreement

dated as of August 20, 1999 (the "Asset Purchase Agreement") relating to the

sale to FiNet of certain of the assets of Lowestrate; and



         WHEREAS, pursuant to the Asset Purchase Agreement the parties entered

into certain related agreements including a Registration Rights Agreement (the

"Registration Rights Agreement"), an Escrow Agreement (the "Escrow Agreement"),

a Loan and Security Agreement (the "Loan and Security Agreement") and an

Promissory Note (the "Note") ; and



         WHEREAS, thereafter on May 24, 2000 the parties entered into a First

Amendment to Loan and Security Agreement pursuant to which the Note and the

related guaranty were amended (the "Amended Promissory Note") (the Asset

Purchase Agreement, the Registration Rights Agreement, the Loan and Security

Agreement and the Amended Note are hereinafter collectively referred as the

"Assigned Agreements"); and



         WHEREAS, Lowestrate and Shareholder desire to wind up, dissolve and

liquidate Lowestrate and, in connection therewith, assign to Shareholder certain

of Lowestrate's assets including its rights pursuant to the Assigned Agreements;

and



         WHEREAS, Shareholder desires to assume all of the liabilities of

Lowestrate pursuant to the Assigned Agreements; and



         WHEREAS, the consent of FiNet is required to accomplish the foregoing,

which consent FiNet desires to give all on the terms and conditions provided

below.



         NOW, THEREFORE, in consideration of the mutual promises made herein,

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