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The Private Mortgage Note is a crucial document in Belgian real estate financing, used when a lender provides funds secured against real property. This instrument, subject to Belgian civil law and mortgage regulations, serves as both evidence of debt and security documentation. It must be executed before a notary and registered with the mortgage registry to be legally effective. The document typically includes comprehensive details about the loan terms, property description, parties' obligations, and enforcement procedures. Private Mortgage Notes are commonly used in Belgium for various lending scenarios, from private individual loans to institutional lending, and must comply with both domestic legislation and relevant EU directives. The document's format and content are specifically designed to meet Belgian legal requirements while protecting both lender and borrower interests.

1. Parties: Identification of the lender and borrower with full legal names, addresses, and national registration numbers as required under Belgian law

2. Background: Context of the loan agreement and brief description of the property being mortgaged

3. Definitions: Key terms used throughout the document, including technical and legal terminology specific to Belgian mortgage law

4. Loan Amount and Purpose: Specification of the principal amount, currency, and intended use of the loan funds

5. Interest Rate: Details of the applicable interest rate, calculation method, and any adjustment mechanisms

6. Term and Repayment: Duration of the loan and detailed repayment schedule including payment amounts, dates, and methods

7. Security Interest: Description of the mortgage security, including property details and ranking of the mortgage

8. Property Description: Detailed legal description of the mortgaged property including cadastral references as required under Belgian law

9. Representations and Warranties: Borrower's declarations regarding property ownership, authority to enter agreement, and absence of prior encumbrances

10. Covenants: Ongoing obligations of the borrower including property maintenance, insurance, and payment of taxes

11. Events of Default: Circumstances that constitute default and trigger enforcement rights

12. Enforcement Rights: Lender's rights and remedies in case of default, compliant with Belgian enforcement procedures

13. Costs and Taxes: Allocation of notarial fees, registration duties, and other transaction costs

14. Governing Law and Jurisdiction: Confirmation of Belgian law application and competent courts