Fill and Sign the Mortgage Form Template

MORTGAGE DEED This Mortgage is given by __________________ (Name of Borrower) , of ____________________________________________ (street address, city, state, zip code) , hereinafter called Borrower , of to ___________________ (Name of Lender) , a banking corporation organized and existing under the laws of the state of ______________, with its principal office located at ________________________________________________________ _____________________________________ (street address, city, state, zip code) , referred to herein as Lender, which term includes any holder of this Mortgage, to secure the payment of the PRINCIPAL SUM of $______________, together with interest thereon computed on the outstanding balance, all as provided in a Note having the same date as this Mortgage, and also to secure the performance of all the terms, covenants, agreements, conditions and extensions of the Note and this Mortgage. In consideration of the loan made by Lender to Borrower and for the purpose expressed above, the Borrower does hereby grant and convey to Lender, with MORTGAGE COVENANTS, the land with the buildings situated thereon and all the improvements and fixtures now and hereafter a part thereof, being more particularly described in Exhibit A attached hereto and made a part hereof and having a street address of ____________________________________ _______________________ (street address, city, state, zip code) , Borrower further covenants and agrees that: 1. No superior mortgage or the note secured by it will be modified without the consent of Lender hereunder. 2. Borrower will make with each periodic payment due under the Note secured by this Mortgage a payment sufficient to provide a fund from which the real estate taxes, betterment assessments and other municipal charges which can become a lien against the mortgaged premises can be paid by Lender when due. This provision shall be effective only in the event that a fund for the same purpose is not required to be established by the holder of a senior mortgage. 3. In the event that Borrower fails to carry out the covenants and agreements set forth herein, the Lender may do and pay for whatever is necessary to protect the value of and the Lender's rights in the mortgaged property and any amounts so paid shall be added to the Principal Sum due the Lender hereunder. 4. As additional security hereunder, Borrower hereby assigns to Lender, Borrower's rents of the mortgaged property, and upon default the same may be collected without the necessity of making entry upon the mortgaged premises. 5. In the event that any condition of this Mortgage or any senior mortgage shall be in default for fifteen (15) days, the entire debt shall become immediately due and payable at the option of the Lender. Lender shall be entitled to collect all costs and expenses, including reasonable attorney's fees incurred. 6. In the event that the Borrower transfers ownership (either legal or equitable) or any security interest in the mortgaged property, whether voluntarily or involuntarily, the Lender may at its option declare the entire debt due and payable. 7. This Mortgage is also security for all other direct and contingent liabilities of the Borrower to Lender which are due or become due and whether now existing or hereafter contracted. 8. Borrower shall maintain adequate insurance on the property in amounts and form of coverage acceptable to Lender and the Lender shall be a named insured as its interest may appear. 9. Borrower shall not commit waste or permit others to commit actual, permissive or constructive waste on the property. 10. Borrower further covenants and warrants to Lender that Borrower is indefeasibly seized of said land in fee simple; that Borrower has lawful authority to mortgage said land and that said land is free and clear of all encumbrances except as may be expressly contained herein. This Mortgage is upon the STATUTORY CONDITION and the other conditions set forth herein, for breach of which Lender shall have the STATUTORY POWER OF SALE to the extent existing under State law. Executed under seal this _____ day of _________________, 20_____. Borrower: _______________________________________ (Printed Name of Borrower) _______________________________________ (Signature of Borrower) Name of Lender: By:_______________________________ __________________________ (P rinted Name & Office in Corporation) ___________________________ (Signature of Officer) WITNESS #1: _______________________________________ (Signature of Witness #1) _______________________________________ (Printed or Typed Name of Witness #1) WITNESS #2: _______________________________________ (Signature of Witness #2) _______________________________________ (Printed or Typed Name of Witness #2) ACKNOWLEDGMENT (May Vary by State) State of _____________________ County of __________________ Personally appeared before me, the undersigned authority in and for the said County and State, on this ____________________ (date) , within my jurisdic tion, the within-named _____________________ (Name of Borrower) , who acknowledged that he executed the above and foregoing instrument. ________________________________ NOTARY PUBLIC My Commission Expires: ____________________ STATE OF _____________ COUNTY OF ____________ Personally appeared before me, the undersigned authority in and for the said county and state, on this _____ day of __________, 20____, within my jurisdiction, the within named ______________________ (Name of Officer) , who acknowledged that he is ______________ (Name of Office) of ____________________ (Name of Corporation) , a ________________ (name of state) corporation, and that for and on behalf of the said corporation, and as its act and deed he executed the above and foregoing instrument, after first having been duly authorized by said corporation so to do. ________________________________ NOTARY PUBLIC My Commission Expires: ____________________