Mortgage Deed

{{company_logo}}

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

MORTGAGE DEED

THIS MORTGAGE DEED is made and entered into on this {{day}} day of {{month}}, {{year}}

BETWEEN:

{{mortgagor_name}} of {{mortgagor_address}} (hereinafter referred to as "the Mortgagor", which expression shall unless repugnant to the context or meaning thereof include his heirs, executors, administrators and assigns) of the ONE PART.

AND

{{mortgagee_name}} of {{mortgagee_address}} (hereinafter referred to as "the Mortgagee", which expression shall unless repugnant to the context or meaning thereof include its successors-in-interest and assigns) of the OTHER PART.

RECITALS

WHEREAS the Mortgagor is the absolute owner of the property more fully described in the Schedule attached hereto (hereinafter referred to as "the Mortgaged Property").

AND WHEREAS the Mortgagor has requested the Mortgagee to grant a loan of {{loan_amount}} ({{loan_amount_words}}) to the Mortgagor.

AND WHEREAS the Mortgagee has agreed to grant the said loan to the Mortgagor on the terms and conditions hereinafter appearing, and upon the Mortgagor securing the repayment of the said loan with interest thereon by way of a mortgage of the Mortgaged Property.

COVENANTS OF THE MORTGAGOR

1. The Mortgagor hereby covenants with the Mortgagee that the Mortgagor has good right, full power, and absolute authority to mortgage the Mortgaged Property as herein provided.

2. The Mortgagor shall promptly pay all taxes, rates, duties, assessments, and outgoings whatsoever now or hereafter imposed upon the Mortgaged Property.

3. The Mortgagor shall keep the Mortgaged Property in good and substantial repair and condition.

4. The Mortgagor shall insure the Mortgaged Property against loss or damage by fire and other customary risks in an insurance office approved by the Mortgagee, for a sum not less than {{insurance_amount}}.

5. The Mortgagor shall not without the prior written consent of the Mortgagee sell, transfer, lease, or otherwise encumber the Mortgaged Property or any part thereof.

TERMS OF THE LOAN

1. The Mortgagor shall repay the principal sum of {{loan_amount}} along with interest thereon at the rate of {{interest_rate}}% per annum.

2. The loan and interest shall be repaid in {{number_of_installments}} equal monthly installments of {{installment_amount}} each, commencing from {{start_date}} and continuing until the entire loan and interest are fully repaid.

3. In the event of default in payment of any installment, the Mortgagor shall be liable to pay a penal interest at the rate of {{penal_interest_rate}}% per annum on the defaulted amount from the date of default until the date of actual payment.

EVENTS OF DEFAULT

The following shall constitute events of default:

1. Failure by the Mortgagor to pay any installment of principal or interest on its due date.

2. Breach by the Mortgagor of any covenant, undertaking, representation, or warranty contained in this Deed.

3. Institution of any insolvency proceedings against the Mortgagor.

4. If the Mortgaged Property is attached or distrained upon by any third party.

REMEDIES OF THE MORTGAGEE

Upon the occurrence of an event of default, the Mortgagee shall have the right, without prejudice to any other rights or remedies available at law or in equity, to:

1. Call upon the Mortgagor to forthwith repay the entire outstanding loan amount with accrued interest and other charges.

2. Take possession of the Mortgaged Property.

3. Sell the Mortgaged Property by public auction or private treaty.

4. Appoint a receiver for the Mortgaged Property.

GOVERNING LAW AND JURISDICTION

This Mortgage Deed shall be governed by and construed in accordance with the laws of {{country}}.

Any dispute or difference arising out of or in connection with this Deed shall be subject to the exclusive jurisdiction of the courts in {{city}}, {{country}}.

SCHEDULE OF THE MORTGAGED PROPERTY

All that piece and parcel of land/immovable property bearing Plot No. {{plot_no}}, Survey No. {{survey_no}}, situated at {{property_address}}, admeasuring approximately {{area_sqm}} square meters, and more particularly described as follows:

Boundaries:

North: {{north_boundary}}

South: {{south_boundary}}

East: {{east_boundary}}

West: {{west_boundary}}

Together with all buildings, structures, fixtures, and appurtenances now or hereafter erected thereon.

IN WITNESS WHEREOF

The Mortgagor and the Mortgagee have executed this Deed on the day, month, and year first above written.

SIGNATURES

SIGNED, SEALED AND DELIVERED by the within-named Mortgagor:

_____________________________

{{mortgagor_name}}

In the presence of:

Witness 1: ___________________

Name: {{witness1_name}}

Address: {{witness1_address}}

Witness 2: ___________________

Name: {{witness2_name}}

Address: {{witness2_address}}

SIGNED, SEALED AND DELIVERED by the within-named Mortgagee:

_____________________________

For {{mortgagee_name}}

{{authorised_signatory_name}}

{{authorised_signatory_title}}

In the presence of:

Witness 1: ___________________

Name: {{witness3_name}}

Address: {{witness3_address}}

Witness 2: ___________________

Name: {{witness4_name}}

Address: {{witness4_address}}