Mortgage Deed

{{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”)

AND

{{mortgagee_name}} of {{mortgagee_address}} (hereinafter referred to as the “Mortgagee”)

RECITALS

WHEREAS, the Mortgagor is the registered owner of the property more fully described in Schedule A hereto (hereinafter referred to as the “Mortgaged Property”).

WHEREAS, the Mortgagee has agreed to advance a loan facility to the Mortgagor in the principal amount of {{loan_amount}} ({{loan_amount_words}}) (hereinafter referred to as the “Loan”).

WHEREAS, the Mortgagor has agreed to secure the repayment of the Loan with interest and all other monies due hereunder by mortgaging the Mortgaged Property to the Mortgagee.

COVENANTS OF THE MORTGAGOR

The Mortgagor hereby covenants with the Mortgagee as follows:

1. That the Mortgagor has good right, full power, and absolute authority to mortgage the Mortgaged Property.

2. That the Mortgaged Property is free from all encumbrances, charges, and liens whatsoever, save as disclosed herein.

3. To keep the Mortgaged Property in good repair and insured against loss or damage by fire and other usual risks, with the policy endorsed in favor of the Mortgagee.

4. To pay all rates, taxes, and other outgoings affecting the Mortgaged Property as and when they become due.

5. Not to sell, alienate, or further encumber the Mortgaged Property without the prior written consent of the Mortgagee.

TERMS OF REPAYMENT

The Mortgagor shall repay the Loan together with interest at the rate of {{interest_rate}}% per annum in {{number_of_installments}} equal monthly installments of {{installment_amount}} each, commencing on {{first_installment_date}} and continuing until the full amount of the Loan and interest is repaid, as per the attached Loan Agreement dated {{loan_agreement_date}}.

DEFAULT AND REMEDIES

Upon the occurrence of an Event of Default as defined in the Loan Agreement, including but not limited to failure to pay any installment when due, the Mortgagee shall have the right to:

1. Enter upon and take possession of the Mortgaged Property.

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

3. Exercise any other rights or remedies available to a mortgagee under the laws of {{jurisdiction}}.

GOVERNING LAW

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

SCHEDULE A: DESCRIPTION OF MORTGAGED PROPERTY

{{property_description}}

Title Deed Number: {{title_deed_number}}

Erf/Stand Number: {{erf_number}}

Measuring: {{property_size}}

IN WITNESS WHEREOF

The parties hereto have executed this Mortgage Deed on the day and year first above written.

_____________________________

Mortgagor (Full Name: {{mortgagor_full_name}})

ID Number: {{mortgagor_id_number}}

_____________________________

Mortgagee (Full Name: {{mortgagee_full_name}})

ID Number/Company Registration Number: {{mortgagee_id_or_reg_number}}

WITNESSES:

1. _____________________________

Name: {{witness1_name}}

ID Number: {{witness1_id_number}}

2. _____________________________

Name: {{witness2_name}}

ID Number: {{witness2_id_number}}