Real Estate Security Agreement

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					A Real Estate Security Agreement is a document that establishes a debtor-creditor
relationship to secure a debt with regard to real property. The debtor grants a security
interest in the debtor’s real property and the secured party, the lender, agrees to loan
certain monies to the debtor. The agreement contains provisions common to other
security agreements, such as an acceleration clause, a list of events of default, and
representations, warranties and covenants made by the debtor. This template
agreement can be used by debtors seeking to use real property as collateral to obtain a
loan, lenders seeking to grant a secured loan, or either party’s legal representative.
                    REAL ESTATE SECURITY AGREEMENT
                  THIS REAL ESTATE SECURITY AGREEMENT made this __ day of _____,
2_____.

B E T W E E N:

                                   __________________, a Company incorporated under the laws of
                                   the Province/State of ________________, having its registered
                                   office in the ______________, in the Province/State of
                                   ______________,

                                   or

                                   ___________________,        an   individual  residing          in   the
                                   ________________,
                                   in the Province/State of _______________________,

                                   (hereinafter referred to as the "Secured Party")

                                                                                        OF THE FIRST PART,

                                                           - and -


                                   ____________________, a Company incorporated under the laws of
                                   the Province/State of _____________, having its registered office in
                                   the    _________________,       in    the    Province/State       of
                                   ________________,

                                   or

                                   ___________________,        an   individual  residing          in   the
                                   ________________,
                                   in the Province/State of _______________________,


                                   (hereinafter referred to as the "Debtor")

                                                                                      OF THE SECOND PART.


1.00               RECITALS

                   WHEREAS:

1.01           The Secured Party has guaranteed and/or will guarantee certain obligations of the
Debtor in favour of various institutional and private lenders; and

1.02           The Secured Party has advanced monies to the Debtor (and will advance further
monies to the Debtor from time to time),


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                NOW THEREFORE THIS AGREEMENT WITNESSES that for value
received and in consideration of the guarantees given and monies advanced, both past and future,
on the part of the Secured Party and in consideration of the covenants and agreements herein
contained, the Parties hereto covenant and agree as follows:


2.00               SECURITY INTEREST

2.01            The Debtor hereby grants to the Secured Party by way of mortgage, charge,
assignment and transfer, a security interest (herein called the "Security Interest") in the real
property of the Debtor as described in Schedule 2.01 hereof, now owned or hereafter owned or
acquired by or on behalf of Debtor (including such as may be returned to or repossessed by the
Debtor) and in all proceeds and renewals thereof, accretions thereto and substitutions
therefore(herein collectively called the "Collateral").

3.00               INDEBTEDNESS SECURED

3.01             The Security Interest granted hereby secures payment and satisfaction of any and
all obligations, indebtedness and liability of the Debtor to the Secured Party (including interest
thereon), present or future, direct or indirect, absolute or contingent, matured or not, extended or
renewed, wheresoever and howsoever incurred and any ultimate unpaid balance thereof and
whether the same is from time to time reduced and thereafter increased or entirely extinguished
and thereafter incurred again and whether the Debtor be bound alone or with another or others
and whether as principal or surety and shall include any and all amounts for which the Secured
Party may become liable to any person as guarantor of the obligations of the Debtor (herein
collectively called the "Indebtedness").

4.00               REPRESENTATIONS AND WARRANTIES OF DEBTOR

4.01            The Debtor represents and warrants and so long as this Security Agreement
remains in effect shall be deemed to continuously represent and warrant that:

              (a) the Collateral is genuine and owned by the Debtor free of all security, interests,
                  mortgages, liens, claims, charges or other encumbrances (herein collectively
                  called "Encumbrances"), save for any Encumbrances, if any, that have been
           
				
DOCUMENT INFO
Description: A Real Estate Security Agreement is a document that establishes a debtor-creditor relationship to secure a debt with regard to real property. The debtor grants a security interest in the debtor’s real property and the secured party, the lender, agrees to loan certain monies to the debtor. The agreement contains provisions common to other security agreements, such as an acceleration clause, a list of events of default, and representations, warranties and covenants made by the debtor. This template agreement can be used by debtors seeking to use real property as collateral to obtain a loan, lenders seeking to grant a secured loan, or either party’s legal representative.
This document is also part of a package Purchase of Real Estate Starter Kit 15 Documents Included