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The Mortgage Contract Agreement is a fundamental legal document used in the United Arab Emirates for securing property financing transactions. It creates a legally binding arrangement between a lender (typically a bank or financial institution) and a borrower, establishing a security interest over real property. The document must comply with UAE federal laws, including UAE Federal Law No. 14 of 2008 (The Mortgage Law) and relevant emirate-specific regulations. It may incorporate Islamic finance principles when required and includes essential elements such as property details, payment terms, enforcement mechanisms, and regulatory compliance requirements. This agreement is crucial for property purchases, refinancing, or using real estate as security for financing, and must be registered with relevant UAE authorities to be legally enforceable.

1. Parties: Identification of the Mortgagor (borrower), Mortgagee (lender), and any guarantors with full legal names and addresses

2. Background: Context of the mortgage agreement, including property purchase details and financing purpose

3. Definitions: Comprehensive list of defined terms used throughout the agreement

4. Property Details: Legal description of the mortgaged property including title deed number and registration details

5. Loan Amount and Terms: Principal amount, interest rate/profit rate, payment schedule, and loan duration

6. Security Creation: Legal creation of the mortgage security interest over the property

7. Representations and Warranties: Statements of fact and assurances from the borrower regarding their capacity and property ownership

8. Borrower Covenants: Ongoing obligations of the borrower including property maintenance and insurance requirements

9. Events of Default: Circumstances constituting default and consequences thereof

10. Enforcement Rights: Lender's rights and remedies in case of default, including property sale procedures

11. Insurance Requirements: Mandatory property insurance and other insurance obligations

12. Payment Terms: Detailed payment mechanisms, dates, and processing procedures

13. Costs and Expenses: Allocation of fees, charges, and expenses related to the mortgage

14. Notices: Communication procedures and contact details for all parties

15. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant court jurisdiction