Common use of Agreement to mortgage land Clause in Contracts

Agreement to mortgage land. If you own any land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property section of the disclosure statement this paragraph 11 applies to you a) You must sign in favour of the lender and at the cost of the borrowers a registrable mortgage over that land. b) If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money when the lender demands it or you fail to do other things you must do under this guarantee, the lender may sell the land to pay the guaranteed money. c) The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 or, at the lender’s option, any form to the same or similar effect more recently published by the Society and required by the lender. The terms of that memorandum shall be incorporated into this guarantee. d) The priority figure for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its mortgage, the lender’s mortgage will have priority over that later mortgage up to the larger amount of (a) and (b). e) You charge your land as set out in this paragraph 11 and in addition to paragraph 5 of this guarantee the provisions of the loan agreement relating to or in connection with security over land shall apply to the security interest which you give to us.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property – The land to be mortgaged section of the disclosure statement statement. If there is a description and you own any of that land this paragraph 11 3 applies to you a) a. You must sign in our favour of the lender and at the your cost of the borrowers a registrable mortgage over that land. b) b. If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance to us and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) c. The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 2015/4326 or, at the lender’s option, any form to the same or similar effect more recently published by the Auckland District Law Society and required by the lenderIncorporated. The terms of that memorandum shall be incorporated into this guaranteeagreement. d) d. The stated priority figure limit for the purposes of section 92(1) of the Property Law Act 2007 Xxx 0000 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its we register our mortgage, the lender’s our mortgage will have priority over that later mortgage up to the larger amount of (a) and (b). e) e. You must not mortgage your land any further without our written consent and if you do we may accelerate payment of the unpaid balance. f. You charge your land as set out in this paragraph 11 and in addition to paragraph 5 of this guarantee the provisions of the loan agreement relating to or in connection with security over land shall apply to the security interest which you give to us3.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property – The land to be mortgaged section of the disclosure statement this paragraph 11 applies to youthe a) a. You must sign in our favour of the lender and at the your cost of the borrowers a registrable mortgage over that land. b) b. If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance to us and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) c. The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 2015/4326 or, at the lender’s option, any form to the same or similar effect more recently published by the Society and required by the lender. The terms of that memorandum shall be incorporated into this guaranteeagreement. That means that the mortgage we use is one which is commonly used by lawyers in New Zealand and the obligations are standard so that it is a security for all of your obligations to the lender. d) d. The priority figure for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its we register our mortgage, the lender’s our mortgage will have priority over that later mortgage up to the larger amount of (a) and (b) e. You must not mortgage your land any further without our written consent, and if you do we may accelerate payment of the unpaid balance. e) f. You charge your land as set out in this paragraph 11 and in addition 3 g. What does that mean? If you have agreed to paragraph 5 give a mortgage of your land we may sign it on your behalf under the power of attorney. Once we have a mortgage we may register it against the title to your land. If you do not pay the money you owe under this guarantee the provisions of agreement, we may call up the loan agreement relating (accelerate payment) and we may sell the land and use the money to or in connection with security over pay the money you owe. You may not mortgage your land shall apply to the security interest which you give to usanyone else without our consent.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property – The land to be mortgaged section of the disclosure statement statement. If there is a description and you own any of that land this paragraph 11 3 applies to you. a) You must sign in our favour of the lender and at the your cost of the borrowers a registrable mortgage over that land. b) If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 or, at the lender’s option, any form to the same or similar effect more recently published by the Society and required by the lenderSociety. The terms of that memorandum shall be incorporated into this guaranteeagreement. That means that the mortgage we use is one which is commonly used by lawyers in New Zealand and the obligations are standard so that it is a security for all of your obligations to the lender. The land will remain security for future advances you receive from us. d) The stated priority figure limit for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its mortgage, the lender’s our mortgage will have priority over that later mortgage up to the larger amount of (a) and (b). e) You must not mortgage your land any further without our written consent and if you do we may accelerate payment of the unpaid balance. f) You charge your land as set out in this paragraph 11 and in addition to paragraph 5 of this guarantee the provisions of the loan agreement relating to or in connection with security over land shall apply to the security interest which you give to us3.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTSSecurity Interests” Real Property section of the disclosure statement statement. If there is a description and you own any of that land this paragraph 11 3 applies to you: a) a. You must sign in favour of the lender and at the cost of the borrowers a registrable mortgage over that land. b) b. If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) c. The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 or, at the lender’s our option, any form to the same or similar effect more recently published by the Auckland District Law Society and required by the lenderIncorporated. The terms of that memorandum shall be incorporated into this guaranteeagreement. d) d. The stated priority figure limit for the purposes of section 92(1) of the Property Law Act 2007 Xxx 0000 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greaterinterest. If you grant a mortgage to someone else after the lender registers its mortgage, the lender’s mortgage will have priority over that later mortgage up to the larger amount of (a) and (b)mortgage. e) e. You must not mortgage your land any further without our written consent and if you do we may accelerate payment of the unpaid balance if the loan is not already at call. f. You charge your land as set out in this paragraph 11 3. What does that mean? If you have agreed to give a mortgage of your land we may sign it on your behalf under the power of attorney. Once we have a mortgage we may register it against the title to your land. If you do not pay the money you owe under this agreement when it is due we may sell the land and in addition use the money to paragraph 5 of this guarantee pay the provisions of the loan agreement relating money you owe. You may not mortgage your land to or in connection with security over land shall apply to the security interest which you give to usanyone else without our consent.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property – The land to be mortgaged section of the disclosure statement statement. If there is a description and you own any of that land this paragraph 11 3 applies to you. a) You must sign in our favour of the lender and at the your cost of the borrowers a registrable mortgage over that land. b) If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 2015/4326 or, at the lender’s option, any form to the same or similar effect more recently published by the Society and required by the lender. The terms of that memorandum shall be incorporated into this guaranteeagreement. That means that the mortgage we use is one which is commonly used by lawyers in New Zealand and the obligations are standard so that it is a security for all of your obligations to the lender. d) The priority figure for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its mortgage, the lender’s our mortgage will have priority over that later mortgage up to the larger amount of (a) and (b). e) You must not mortgage your land any further without our written consent and if you do we may accelerate payment of the unpaid balance. f) You charge your land as set out in this paragraph 11 and in addition 3. g) What does that mean? If you have agreed to paragraph 5 give a mortgage of your land we may sign it on your behalf under the power of attorney. Once we have a mortgage we may register it against the title to your land. If you do not pay the money you owe under this guarantee the provisions of agreement, we may call up the loan agreement relating (accelerate payment) and we may sell the land and use the money to or in connection with security over land shall apply to pay the security interest which money you give to usowe.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTSSecurity Interests” Real Property section of the disclosure statement statement. If there is a description and you own any of that land this paragraph 11 3 applies to you: a) a. You must sign in favour of the lender and at the cost of the borrowers a registrable mortgage over that land. b) b. If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) c. The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 or, at the lender’s our option, any form to the same or similar effect more recently published by the Auckland District Law Society and required by the lenderIncorporated. The terms of that memorandum shall be incorporated into this guaranteeagreement. d) d. The stated priority figure limit for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greaterinterest. If you grant a mortgage to someone else after the lender registers its mortgage, the lender’s mortgage will have priority over that later mortgage up to the larger amount of (a) and (b)mortgage. e) e. You must not mortgage your land any further without our written consent and if you do we may accelerate payment of the unpaid balance if the loan is not already at call. f. You charge your land as set out in this paragraph 11 3. What does that mean? If you have agreed to give a mortgage of your land we may sign it on your behalf under the power of attorney. Once we have a mortgage we may register it against the title to your land. If you do not pay the money you owe under this agreement when it is due we may sell the land and in addition use the money to paragraph 5 of this guarantee pay the provisions of the loan agreement relating money you owe. You may not mortgage your land to or in connection with security over land shall apply to the security interest which you give to usanyone else without our consent.

Agreement to mortgage land. If you own any land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property section of the disclosure statement this paragraph 11 12 applies to you a) You must sign in favour of the lender and at the cost of the borrowers a registrable mortgage over that land. b) If you default the lender we may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money sum when the lender demands it or you fail to do other things you must do under this guarantee, the lender may sell the land to pay the guaranteed moneysum. c) The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 2015/4326 or, at the lender’s option, any form to the same or similar effect more recently published by the Society and required by the lender. The terms of that memorandum shall be incorporated into this guarantee. That means that the mortgage we use is one which is commonly used by lawyers in New Zealand and the obligations are standard so that it is a security for all of your obligations to the lender. d) The priority figure for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its mortgage, the lender’s mortgage will have priority over that later mortgage up to the larger amount of (a) and (b). e) You charge your land as set out in this paragraph 11 and in addition to paragraph 5 of this guarantee the provisions of the loan agreement relating to or in connection with security over land shall apply to the security interest which you give to us12.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property – The land to be mortgaged section of the disclosure statement statement. If there is a description and you own any of that land this paragraph 11 3 applies to you a) a. You must sign in our favour of the lender and at the your cost of the borrowers a registrable mortgage over that land. b) b. If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance to us and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) c. The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 2015/4326 or, at the lender’s option, any form to the same or similar effect more recently published by the Auckland District Law Society and required by the lenderIncorporated. The terms of that memorandum shall be incorporated into this guaranteeagreement. d) d. The stated priority figure limit for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its we register our mortgage, the lender’s our mortgage will have priority over that later mortgage up to the larger amount of (a) and (b). e) e. You must not mortgage your land any further without our written consent and if you do we may accelerate payment of the unpaid balance. f. You charge your land as set out in this paragraph 11 and in addition to paragraph 5 of this guarantee the provisions of the loan agreement relating to or in connection with security over land shall apply to the security interest which you give to us3.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property – The land to be mortgaged section of the disclosure statement statement. If there is a description and you own any of that land this paragraph 11 3 applies to you. a) You must sign in our favour of the lender and at the your cost of the borrowers a registrable mortgage over that land. b) If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 or, at the lender’s option, any form to the same or similar effect more recently published by the Society and required by the lenderSociety. The terms of that memorandum shall be incorporated into this guaranteeagreement. That means that the mortgage we use is one which is commonly used by lawyers in New Zealand and the obligations are standard so that it is a security for all of your obligations to the lender. The land will remain security for future advances you receive from us. d) The stated priority figure limit for the purposes of section 92(1) of the Property Law Act 2007 Xxx 0000 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its mortgage, the lender’s our mortgage will have priority over that later mortgage up to the larger amount of (a) and (b). e) You must not mortgage your land any further without our written consent and if you do we may accelerate payment of the unpaid balance. f) You charge your land as set out in this paragraph 11 and in addition to paragraph 5 of this guarantee the provisions of the loan agreement relating to or in connection with security over land shall apply to the security interest which you give to us3.

Agreement to mortgage land. If you own any 12.1 The owner of the land described specified in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTSGRANT OF SECURITY INTERESTS” Real Property section of the disclosure statement this paragraph 11 applies agrees to you a) You must sign a mortgage in our favour of the lender and at the cost of the borrowers a registrable mortgage over that land. b) If you default land on the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money following terms and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money when the lender demands it or you fail to do other things you must do under this guarantee, the lender may sell the land to pay the guaranteed money. c) conditions: The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 2015/4326 or, at the lender’s option, any form to the same or similar effect more recently published by the Auckland District Law Society and required by the lenderIncorporated. The terms of that memorandum shall be incorporated into this guarantee. d) agreement. That means that the mortgage we use is one which is commonly used by lawyers in New Zealand and the obligations are standard so that it is a security for all of your obligations to us. The stated priority figure limit for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement unpaid balance plus $150,000 plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. and costs of enforcement If you grant a mortgage to someone else after the lender registers its we register our mortgage, the lender’s our mortgage will have priority over that later mortgage up to the larger amount figure reached by that calculation. You must not mortgage your land any further without our written consent and if you do we may accelerate payment of (a) and (b). e) the unpaid balance. You charge your land as set out in this paragraph 11 and in addition 12. What does that mean? If you have agreed to paragraph 5 give a mortgage of your land we may sign it on your behalf under the power of attorney. Once we have a mortgage we may register it against the title to your land. If you do not pay the money you owe under this guarantee the provisions of agreement, we may call up the loan agreement relating (accelerate payment) and we may sell the land and use the money to or in connection with security over pay the money you owe. You may not mortgage your land shall apply to the security interest which you give to usanyone else without our consent.

Agreement to mortgage land. If you own any There may be a description of land described in the “WHAT COULD HAPPEN IF YOU FAIL TO MEET YOUR COMMITMENTS” Real Property – The land to be mortgaged section of the disclosure statement statement. If there is a description and you own any of that land this paragraph 11 4 applies to you a) a. You must sign in our favour of the lender and at the your cost of the borrowers a registrable registerable mortgage over that land. b) b. If you default the lender may sell your land. The mortgage of the land is to secure payment to the lender of the guaranteed money unpaid balance to us and also to secure the performance of all other terms of this agreement and of any associated loan agreement. If you do not pay the guaranteed money make any payment when the lender demands it is due and payable or if you fail to do other things you must do under this guaranteeagreement, the lender may sell the land to pay the guaranteed moneyunpaid balance. c) c. The mortgage shall be in an all obligations form published by the Auckland District Law Society Incorporated so as to incorporate memorandum number 2018/4346 2015/4326 or, at the lender’s option, any form to the same or similar effect more recently published by the Society and required by the lender. The terms of that memorandum shall be incorporated into this guaranteeagreement. That means that the mortgage we use is one which is commonly used by lawyers in New Zealand and the obligations are standard so that it is a security for all of your obligations to the lender. d) d. The priority figure for the purposes of section 92(1) of the Property Law Act 2007 shall be (a) twice the total amount of payments shown in the PAYMENTS section of the disclosure statement plus interest or (b) twice the total advances plus $50,000 plus interest whichever is the greater. If you grant a mortgage to someone else after the lender registers its mortgage, the lender’s mortgage will have priority over that later mortgage up to the larger amount of (a) and (b). However, you must not do that without our written consent. e) e. You charge must not mortgage your landany further without our written consent and if you do we may accelerate payment of the unpaid balance. f. You change your land as set out in this paragraph 11 and in addition 4 g. What does that mean? If you have agreed to paragraph 5 give a mortgage of your land we may sign it on your behalf under the power of attorney. Once we have a mortgage we may register it against the title to your land. If you do not pay the money you owe under this guarantee the provisions of agreement, we may call up the loan agreement relating (accelerate payment) and we may sell the land and use the money to or in connection with security over land shall apply to pay the security interest which money you give to usowe.