A Standard Clause for use in a purchase and sale agreement for commercial real estate in New York. This seller favorable clause specifies the conditions for the assignment of the seller's existing mortgage to the purchaser's lender. A purchaser intending to finance the purchase of commercial real estate in New York often negotiates for an assignment of mortgage clause in the purchase and sale agreement to save mortgage recording taxes. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips for both sellers and purchasers.