Basic Deed
BASIC DEED
THIS MORTGAGE DEED is made on this day of , 20 by and between [YOUR NAME], residing at [YOUR COMPANY ADDRESS], herein referred to as the “Borrower” and [Bank's/Lender's Name], herein referred to as the "Lender".
I. The Property
The property located at (property address), State of .
II. The Loan
The Borrower agrees to pay the total principal amount of dollars (USD $ ), plus interest accrued thereon at the rate of percent ( % ) per annum.
III. Repayment Terms
The principal amount together with the interest accrued thereon shall be repaid in ( ) equal successive monthly installments.
IV. Default
In the event of default, the Lender may declare the outstanding balance, together with the interest accrued thereon, immediately due and payable.
V. Security
For the repayment of the Loan, the Borrower mortgages and warrants to the Lender the Property.
VI. Signatures
Name: [YOUR NAME]
Date:
Name: [Bank's/Lender's Name]
Date:
