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Deed Of Real Estate Mortgage
"I need a Deed of Real Estate Mortgage for a residential property in Auckland, New Zealand, with a loan amount of NZD 850,000 from ANZ Bank, to be executed by March 2025, with provision for future advances up to NZD 100,000."
1. Parties: Identifies the mortgagor (property owner) and mortgagee (lender), including their full legal names and addresses
2. Background: Sets out the context of the mortgage, including reference to any facility agreement or loan contract
3. Definitions and Interpretation: Defines key terms used in the mortgage deed and establishes rules of interpretation
4. Grant of Mortgage: The operative clause creating the mortgage over the property
5. Property Description: Detailed legal description of the mortgaged property, including title reference
6. Secured Money: Definition and scope of the obligations secured by the mortgage
7. Mortgagor's Covenants: Core obligations of the property owner, including maintenance, insurance, and payment obligations
8. Events of Default: Circumstances that constitute default under the mortgage
9. Mortgagee's Powers: Rights and remedies of the lender upon default, including power of sale
10. General Provisions: Standard clauses covering notices, costs, assignment, and governing law
1. Future Advances: Optional clause allowing the mortgage to secure future loans or advances
2. Priority Arrangements: Required when there are multiple mortgages or security interests over the property
3. Guarantee Provisions: Included when there is a guarantor for the mortgage obligations
4. Environmental Matters: Required for commercial properties or when environmental risks are identified
5. Leasing Provisions: Included when the property is or may be leased
6. Cross-Collateralization: Used when the mortgage secures obligations related to multiple properties or facilities
1. Property Schedule: Detailed property description, including title references and encumbrances
2. Standard Terms: Reference to or incorporation of standard mortgage terms (if using institutional lender's standard form)
3. Insurance Requirements: Specific insurance requirements and minimum coverage amounts
4. Secured Obligations: Details of the loan agreement or other secured obligations
5. Special Conditions: Any property-specific or transaction-specific conditions
6. Memorandum of Priority: Required when documenting priority arrangements with other security holders
Authors
Banking
Real Estate
Financial Services
Legal Services
Property Development
Construction
Mortgage Lending
Property Investment
Legal
Credit Risk
Mortgage Operations
Property Services
Compliance
Real Estate Operations
Document Management
Investment
Business Development
Customer Relations
Property Lawyer
Banking Lawyer
Mortgage Advisor
Real Estate Agent
Property Manager
Bank Manager
Credit Manager
Legal Counsel
Conveyancing Manager
Loan Officer
Risk Manager
Compliance Officer
Property Development Manager
Investment Manager
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