Canada Mortgage Amending or Renewal Agreement

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					                           MORTGAGE AMENDING AGREEMENT
THIS AGREEMENT is made and effective the _____ day of _____________, ________.

BETWEEN:
                                             «MORTGAGEE»
                                                of [address]
                               (hereinafter referred to as “the Mortgagee”)

                                                                                    OF THE FIRST PART
                                                  - and -

                                           [MORTGAGOR(S)]
                                                of [address]
                               (hereinafter referred to as “the Mortgagor”)

                                                                                OF THE SECOND PART

WHEREAS by a Mortgage dated the ____ day of _______________, ________, and registered in the Land
Titles Office for the __________________ Land Registration District as Instrument Number
_______________ on ______________, _______, the Mortgagor did grant and mortgage all and singular
that certain parcel or tract of land and premises described as:

        (LEGAL DESCRIPTION)

(hereinafter referred to as the “Lands”)

unto the Mortgagee, to secure payment of the principal sum of $_______________, and interest thereon as
therein set out (which mortgage, as subsequently amended by any registered or unregistered agreement
is hereinafter referred to as the “Mortgage”);

AND WHEREAS the principal balance outstanding under the Mortgage as of _________ will be
$_____________;

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises and
covenants herein contained and the sum of One ($1.00) Dollar paid by the Mortgagor to the Mortgagee,
the receipt and sufficiency of which is hereby acknowledged, the Mortgagor and Mortgagee agree that the
terms of the Mortgage shall be further amended as follows:

1.      The principal balance loaned under and secured by the Mortgage is hereby further amended
        from         ______________________________          ($__________)        DOLLARS         to
        ____________________________ ($_________) dollars and the Mortgagor hereby agreeS to pay to
        the Mortgagee the said amount, as hereby amended, pursuant to those terms and conditions
        pertaining to the repayment of the principal sum set out in the Mortgage, as amended by this
        Agreement.

2.      The rate of interest set out in the Mortgage and exigible on those amounts therein secured shall be
        amended from the rate of ________ (____%) percent per annum to the rate of ______________
        (____%) percent per annum, calculated half yearly, not in advance and effective from the ______
        day of __________, ______.

3.      The required monthly installments of principal and interest set out in the Mortgage shall be
        _________________________ DOLLARS ($_________) each; provided that notwithstanding the
                                             -2-


       forgoing, to include payment of principal and interest, computed on the amounts outstanding on
       the Mortgage (as herein amended) for time to time, will be payable on the _____ day of
       _________, _____ ( the “Amended Interest Adjustment Date”), and the term of the Mortgage, and
       th
				
DOCUMENT INFO
Description: Amend or renew a mortgage on a residential property in Canada with this Mortgage Amending or Renewal Agreement. The mortgagor (borrower) and mortgagee (lender) agree to renew the mortgage and amend the following provisions of the original loan: - the term of the renewal period, - the adjusted interest rate, - the adjusted payment amount, - the payment frequency (monthly, weekly, bi-monthly). This Canada Mortgage Amending or Renewal Agreement for Residential Property is provided in MS Word format.
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