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1. Parties: Identification of the mortgagor (property owner), mortgagee (typically a bank), and any guarantors
2. Background: Context of the mortgage agreement, including reference to any underlying loan or credit agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the mortgaged property, including land register details
5. Creation of Security Interest: Express creation of the mortgage (Grundschuld) and its registration requirements
6. Secured Obligations: Definition of the secured obligations, including principal amount, interest, and costs
7. Representations and Warranties: Mortgagor's representations regarding property ownership, condition, and encumbrances
8. Mortgagor's Obligations: Ongoing obligations including maintenance, insurance, and payment of taxes
9. Events of Default: Circumstances constituting default and triggering enforcement rights
10. Enforcement Rights: Mortgagee's rights upon default, including foreclosure procedures
11. Insurance Requirements: Required property insurance and assignment of insurance claims
12. Costs and Expenses: Allocation of costs related to creation, maintenance, and enforcement of the mortgage
13. Notices: Process for delivering formal notices between parties
14. Governing Law and Jurisdiction: Confirmation of German law application and jurisdiction
1. Third Party Rights: Required when there are additional beneficiaries or security holders
2. Priority Arrangements: Needed when there are multiple mortgages or security interests on the property
3. Property Management: Include when specific property management requirements are necessary
4. Environmental Provisions: Required for commercial properties or when environmental risks are present
5. Construction Provisions: Include when the property is under construction or development
6. Rental Income Assignment: Required when rental income is part of the security package
7. Consumer Protection Clauses: Required when the mortgagor is a consumer under German law
8. Cross-Default Provisions: Include when the mortgage secures multiple facilities or relates to other agreements
1. Property Details Schedule: Detailed property description, including maps, plans, and land register excerpts
2. Secured Obligations Schedule: Detailed breakdown of all secured obligations and payment terms
3. Insurance Schedule: Specific insurance requirements and current policy details
4. Form of Land Register Application: Template for the land register registration application
5. Existing Encumbrances: List of existing mortgages, easements, or other encumbrances
6. Form of Notice: Standard forms for various notices required under the agreement
7. Power of Attorney: Form of power of attorney for registration and enforcement purposes
8. Due Diligence Documents: List of property-related documents and certificates
Banking
Real Estate
Financial Services
Construction
Property Development
Insurance
Legal Services
Commercial Property
Residential Property
Asset Management
Legal
Finance
Real Estate
Credit Risk
Compliance
Property Management
Securities Administration
Mortgage Operations
Risk Management
Corporate Banking
Real Estate Lawyer
Banking Lawyer
Finance Manager
Credit Risk Officer
Property Manager
Mortgage Advisor
Legal Counsel
Compliance Officer
Real Estate Manager
Banking Relationship Manager
Security Trustee
Property Valuer
Notary
Land Registry Officer
Real Estate Investment Manager
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