Mortgage

1.	DESCRIPTION OF PROPERTY SUBJECT TO LIEN: "PREMISES"

2.	EQUITY OF REDEMPTION

3.	COVENANTS OF MORTGAGOR

a.	Secured Indebtedness
b.	Performance of Note, Mortgage
c.	Extent Of Payment Other Than Principal And Interest
d.	Insurance
e.	Care of Property
f.	Prior Mortgage

4.	DEFAULTS

a.	Event of Default
b.	Options Of Mortgagee Upon Event Of Default

5.	PRIOR LIENS

6.	NOTICE, DEMAND AND REQUEST

7.	MEANING OF WORDS

8.	SEVERABILITY

9.	GOVERNING LAW

10.	DESCRIPTIVE HEADINGS

11.	ATTORNEY'S FEES

12.	EXCULPATION

Document Description:

A Mortgage agreement is a legally binding contract used when a Borrower (a “Mortgagee”) secures a loan from a Lender (a “Mortgagor”) to finance the purchase of real estate. The agreement defines the payment periods and interest rates, and specifies that the Borrower shall give the Lender a lien on the property as collateral for the loan.

Purchasing and selling real estate requires careful consideration and proper documentation. It is essential to have your Mortgage Agreement in writing, as a simple oral contract will not suffice. This is an excellent template, suitable for both commercial and residential mortgages, containing all the necessary clauses to bind and protect both parties, including provisions in the event of default.