Mortgage Deed

Step 1 of 11

9%
  • On what date will this deed become effective?

MORTGAGE DEED

THIS DEED OF MORTGAGE made and entered into on ${input_48_3} , by and between ${input_48_3} hereinafter referred to as "Mortgagor," currently residing at ${input_48_6_1} , ${input_48_6_3} , ${input_48_6_4} ${input_48_6_5} , in the County of ${input_48_6_6} and ${input_48_9} ${input_48_10} , hereinafter referred to as "Mortgagee," currently located at ${input_48_11_1} , ${input_48_11_3} , ${input_48_11_4} , ${input_48_11_5} , in the County of ${input_48_11_6} by which term includes any holder(s) of this Mortgage, with mortgage covenants, to secure payment of $ ${input_46_41} , the Principal sum to be paid, with interest on said sum until paid at the rate of ${input_48_17} % (percent) computed on the outstanding balance, as provided in this mortgage, and also to secure the performance of all agreements, terms, covenants, conditions and extensions of this Mortgage incorporated herein as referenced.

THIS DEED RECORDS THAT in pursuance to the said agreement and in consideration of the sum $ ${input_48_20} , at or before the execution of this DEED, paid by the MORTGAGEE to the MORTGAGOR, the Mortgagor hereby agrees that he will make prompt and timely payment to the Mortgagee on the ${input_48_23} day of each month (herein after known as the "due date"), the monthly sum of $ ${input_48_26} with interest at the rate of ${input_48_17} % until such time as the repayment of the sum in full has been paid in full.

THIS DEED FURTHER RECORDS THAT in consideration of the aforementioned, the Mortgagor hereby expressly consents that the real estate property is located at ${input_48_29_1} , in the City of ${input_48_29_3} in the State of ${input_48_29_4} ${input_48_29_5} , within the County of ${input_48_29_6} , bearing the following exact legal description of "Property" as:

NOTE: Insert complete and exact legal description of the property conveyed to the Mortgagor (Lot No., size, direction etc.) along with any encumbrances that the mortgage and Mortgagor will be subject

THEREFORE , the aforementioned real estate property will be held and retained by the Mortgagee as security for repayment of the aforementioned sum with interest, under the condition(s) that the Mortgagor, his/her heirs, executors, administrators or delegates will pay to the Mortgagee, his/her heirs, executors, administrators or delegates the monthly sum of $ ${input_48_26} , which includes interest, until such time as the aforementioned sum has been repaid in full to the Mortgagee, his/her heirs, executors, administrators or delegates, and that during such time, the Mortgagor, his/her heirs, executors, administrators or delegates shall retain, maintain and have full use of the real estate property aforementioned.
IT IS HEREBY AGREED AND DECLARED , that should the Mortgagor fail to make any of the agreed upon payments to the Mortgagee with interest on the agreed upon date that payment becomes due and payable, the Mortgagee shall then have the right and become entitled take possession of the aforementioned real estate property with the purpose of selling said real estate property in an effort to recover any and all outstanding balance that may be due to Mortgagee out of the sale proceeds of the real estate property.
IT IS HEREBY FURTHER AGREED AND DECLARDED , by the Mortgagor that throughout the duration of the mortgage, and during such time that the real estate property be retained as security for the mortgage amount, the Mortgagor shall obtain and maintain insurance on said property in the joint name of the Mortgagor and Mortgagee, and that said policy will remain in full force and effect through the payment of the premium. At any time, should the Mortgagor fail to maintain insurance on said property, the Mortgagee can at such time, insure the real estate property and the premium paid will then be added to the mortgage amount due, if the premium is not paid by the Mortgagor when requested or demanded to do so by the Mortgagee.
IT IS FURTHER AGREED , that the Mortgagor has the right to grant a lease of the aforementioned real estate property with the written consent of the Mortgagee.
IN CONCLUSION , the Mortgagor agrees that s/he will accept full responsibility with regards to stamp duty, registration charges and any other out of pocket expense that may be related to the execution and registration of this deed or the transfer of the deed back to the original owner. It is further agreed that both parties, will accept cost and professional charges of his/her Solicitor/Advocate.
IN WITNESS WHEREOF , this Mortgage is executed under seal, and the parties have placed their hands on this date of ${input_48_3}

__________________________________________________________
(First Mortgagor Signature)

__________________________________________________________
(Second Mortgagor Signature – if any)

__________________________________________________________
(First Mortgagee Signature)

__________________________________________________________
(Second Mortgagee Signature – if any)

Signed, sealed and delivered in the presence of:

__________________________________________________________
(Signature of Notary)

My commission expires:______________________________________