Spouses and other parties or interests Sample Clauses

Spouses and other parties or interests. Every person who is a party to the mortgage who is a spouse consents to the mortgage where it affects the interest of the person's spouse, and postpones every claim of the person to the mortgage. Every person who is a party to the mortgage, other than you and us, and including a spouse or guarantor, agrees with us as follows. Where the person has an interest in the property or its proceeds, and the interest is not being mortgaged under other terms of the mortgage, the person gives us security over the interest in the same way as if the person was you, or agrees to do so. This applies whether the interest exists when the mortgage is given, or comes into existence after then. As to the interest, the person grants, mortgages, charges, bargains, sells, releases all claims on, assigns, gives a security interest in, transfers, and subleases, the property to us and our heirs and successors in the ways set out in the mortgage. As to the interest, the person agrees to be subject to all of the terms of the mortgage, and gives us all of the powers under the mortgage, as if the person was you. Where the person has a claim on money that leads to payment obligations, the person releases us from any liability for the claim. The person enters into this mortgage in return for, among other things, one dollar, which the person has received. You confirm that you have received a copy of this mortgage, including our General Mortgage Terms. Each other person signing this mortgage confirms receiving a copy of this mortgage, including our General Mortgage Terms. Schedule Description of Land Detailed description of land
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Spouses and other parties or interests. Every person who is a party to the mortgage who is a spouse consents to the mortgage where it affects the interest of the person's spouse, and postpones every claim as spouse to the mortgage. Every person who is a party to the mortgage, other than you and us, and including a guarantor, agrees with us as follows. Where the person has an interest in the property and the interest is not being mortgaged under other terms of the mortgage, the person gives us security over the interest in the same way as if the person was you, or agrees to do so. This applies whether the interest exists when the mortgage is given, or comes into existence after then. As to the interest, the person grants, mortgages, charges, bargains, sells, releases all claims on, assigns, gives a security interest in, transfers, and subleases, the property to us and our heirs and successors in the ways set out in the mortgage. As to the interest, the person agrees to be subject to all of the terms of the mortgage, and gives us all of the powers under the mortgage, as if the person was you. Where the person has a claim on money that leads to payment obligations, the person releases us from any liability for the claim. The person enters into this mortgage in return for, among other things, one dollar, which the person has received. You confirm that you have received a copy of this mortgage, including our Standard Mortgage Terms, and a copy of the Operating Agreement. Each other person signing this mortgage confirms receiving a copy of this mortgage, including our Standard Mortgage Terms. [signature page follows] SIGNED, SEALED and DELIVERED ) in the presence of: ) ● ) Witness: ) ) ) Name: ) [Barrister (NL), Commissioner for Oaths (NL), ) Notary Public (NL) or Justice of the Peace (NL.] ) Name: Delete whichever does not apply, or all if none apply. ) ● If signed by a notary public or a commissioner for ) oaths, witness should also impress his or her stamp. ) ) If signed and witnessed out of the Province of NL: ) ) [A Notary Public or Commissioner for Oaths in and ) for . My ) commission expires on , ) 20 .] ) Name: ● Delete whichever does not apply, witness should also ) impress his or her stamp. ) Name: Newfoundland Mortgage Standard Mortgage Terms In the mortgage, you are each person by whom security is given under the mortgage (and your and yours refer to each such person). We are each person to whom security is given under the mortgage (and us, our and ours refer to each such person). The mort...
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Related to Spouses and other parties or interests

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