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Alberta Mortgage Form

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Alberta Mortgage Form Powered By Docstoc
					                                                                                  Charge/Mortgage of Land
                                                                                       Province of Alberta

This Mortgage is made

BETWEEN




                                                                              “borrower” “you” and “your”

- AND -

                   Macquarie Financial Ltd.




                                                                         “Macquarie”, “we”, “our” and “us”

1.        The legal description of your property is:




          (the “property”)

2.        The principal amount is:_________________________________________________________
          ($___________________) Dollars

3.        The mortgage initially secures:

          a)                 Fixed Interest Rate

          b)                 Adjustable Mortgage Rate – Fixed Payment

          c)                 Adjustable Mortgage Rate – Adjustable Payment

4.        Interest Rate Provisions:

          a)                 Fixed Interest Rate: The Fixed Interest Rate is ____________% calculate half
                             yearly not in advance; or

          b)                 Adjustable Mortgage Rate The Adjustable Mortgage Rate is the Macquarie
                             prime rate plus ________ % per annum, calculated monthly not in advance.

                             On the date of executing the mortgage the Macquarie prime rate was _______ %
                             per annum, calculated monthly not in advance. Therefore the Adjustable
                             Mortgage Rate at that time was ________ % per annum, calculated monthly not
                             in advance, which is equivalent to ________ % per annum, calculated half-
                             yearly, not in advance.
5.    Payment Provisions:

      a)      The interest adjustment date is: _____________________________________________

      b)      The payment date (if applicable) is:__________________________________________

      c)      The first payment date (if applicable) is: _____________________________________

      d)      The monthly payment is: __________________________________________________
              _______________________________________________________________________
              ($____________________) Dollars

      e)      The balance due date is: __________________________________________________

      f)      The last payment date is: __________________________________________________

6.    The mortgage is:

      i)                 Open for Prepayment; or

      ii)                Closed to prepayment.

7.    For purposed of mortgage default insurance and the Law of Property Act (Alberta), the Mortgage
      is:

      i)                 An Insured Mortgage (Insured Mortgage means insured by the Canada
                         Mortgage and Housing Corporation, Genworth Financial Mortgage Insurance
                         Company Canada or any other mortgage insurer approved by us); or

      ii)                Not an Insured Mortgage (per note re Insured Mortgage above); or

      iii)               A High Ratio Mortgage

8.    Interest Mortgaged:        Freehold ____             Leasehold _____

9.    Permitted Encumbrances:

      _______________________________________________________________________________
      _______________________________________________________________________________
      _______________________________________________________________________________
      _______________________________________________________________________________
      _______________________________________________________________________________
      _______________________________________________________________________________

10.   The Guarantor is (are): ___________________________________________________________

11.   Other Covenants and Terms:

      a)       You covenant that you are the registered owner of an estate in your property
      as indicated in Paragraph 8 above, subject, however, to the registered encumbrances,
      liens and interests indicated in Paragraph 9 above.
        b)       You:
                 i)       have good title to your property;
                 ii)      have the right to mortgage your property;
                 iii)     agree that on default, Macquarie will have quiet possession of your property free
                          from all encumbrances except Permitted Encumbrances set out in Paragraph 9
                          above;
                 iv)      will execute such further assurance of your property as may be requisite; and
                 v)       have done no act to encumber your property, except for the Permitted
                          Encumbrances as set out in Paragraph 9 above.

        c)       You acknowledge that this charge/mortgage of your property consists of the terms
                 contained herein and is subject to the terms contained in the Set of Standard Mortgage
                 Terms that was filed with the Registrar under the Land Titles Act as number
                 __________________. You acknowledge that you understand the nature of the
                 foregoing statement and that the mortgage consists of the terms set out herein and the
                 terms set out in the Set of Standard Mortgage Terms referred to herein.

        d)       If the Mortgage is a High Ratio Mortgage, the following applies:

                 This Mortgage is a high ratio mortgage to which sections 43(4.1) and (4.2) and
                 44(4.1) and (4.2) of the Law of Property Act apply. You and anyone who, expressly
                 or impliedly, assumes this Mortgage from you, could be sued for any obligations
                 under this Mortgage if there is a default by you or by a person who assumes this
                 Mortgage.

And for better securing to Macquarie the repayment in the manner set out in this Mortgage of the loan
amount and interest (and other amounts hereby secured), I (we) hereby mortgage to Macquarie, all my
(our) estate and interest in the property.

Each of the Borrowers has signed this Mortgage this _____ day of _______________, 20____.

SIGNED AND DELIVERED                      )
In the presence of:                       )
                                          )
                                          )
                                          )
                                          )
_________________________________________ ) _________________________________________
                                          )
                                          )
                                          ) _________________________________________
                              DOWER - CONSENT OF SPOUSE
I, _________________________ being married to the within named _____________________________
do hereby give my consent to the disposition of our homestead, made in this instrument, and I have
executed this document for the purpose of giving up my life estate and other dower rights in the said
property given to me by The Dower Act to the extent necessary to give effect to the said disposition.

                                              ______________________________________________




                      CERTIFICATE OF ACKNOWLEDGEMENT
1.      This document was acknowledged before me by _____________________________ apart from
*her husband/his wife.

2.      _______________________________ acknowledged to me that *she/he:

(a)     Is aware of the nature of the disposition;
(b)     Is aware that The Dower Act gives *her/him a life estate in the homestead and the right to prevent
        disposition of the homestead by withholding consent;
(c)     Consents to the disposition for the purpose of giving up the life estate and other dower rights in
        the homestead given to *her/him by The Dower Act to the extent necessary to give effect to the
        said disposition;
(d)     is executing the document freely and voluntarily without any compulsion on the part of *her
        husband/his wife.

DATED at ___________ in the Province of ______________, this ____ day of ____________, 20____.

Sworn before me at ____________________________               )
in the Province of ______________________________             )
this ____ day of _____________________, 20______              )
                                                              ) _________________________________
                                                                                Signature of Solicitor
_____________________________________________
A Commissioner for Oaths In and For the Province of Alberta
A Notary Public In and For the __________ of ___________
                                            DOWER AFFIDAVIT

I, ____________________, of__________________________, ______________ (occupation) make oath
and say:
1.        I am the borrower (or the agent acting under power of attorney in my favour registered in the Land
          Titles Office on ______________________ , __________ as instrument number
          _________________ granted by the borrower) named in the within instrument.

2.        I am (or My principal is) not married.
OR
          Neither myself nor my spouse (or my principal nor his/her spouse) have resided on the within
          mentioned land at any time since our (or their) marriage.
OR

          I am (or My principal is) married to __________________________ being the person who
          executed the release of dower rights registered in the Land Titles Office on
          _____________________ , ______ as instrument number ____________________.
OR
          A judgment for damages was obtained against me by my spouse (or my principal by his/her
          spouse) and registered in the Land Titles Office on __________________ , _______ as
          instrument number _____________________.

Sworn before me at _____________________                        )
in the Province of _______________________                      )   ________________________________
this ____ day of __________________, 20___.                     )
_____________________________________
A Commissioner for Oaths In and For the Province of Alberta
A Notary Public In and For the _____________ of _____________




                                      AFFIDAVIT OF EXECUTION
I, ________________________________, of___________________, ________________ (occupation)
make oath and say:

        (1) THAT I was personally present and did see __________________ and ___________________
            named in the within instrument, who is/are personally known to me to be the person(s) named
            therein, duly sign, seal and execute the same for the purposes named therein.

        (2) THAT the same was executed at the _________________ of ________________ in the
            Province of ________________ and that I am a subscribing witness thereto.

        (3) THAT I know the said___________________________ and _________________________
            and he/she/they/is/are in my belief of the full age of eighteen years.

Sworn before me at _____________________                    )
in the Province of _____________________                    )   _________________________________
this _____ day of ________________,______                   )

________________________________________

A Commissioner for Oaths In and For the Province of Alberta
A Notary Public In and For the _____________ of _____________

				
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