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Mortgage Agreement

Principal and Interest Details

Amount of Principal:

$

What is the Interest Rate?

What is the Interest Adjustment Date?

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Payment Details

How often will Principal and Interest payments be made?

e.g. First, Second, Tenth

How much is each Principal and Interest payment?

$

Maturity Date:

Address for payments is Mortgagee's address?

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Annual Prepayment

Allow annual prepayment of Principal without penalty?

What percent of the Principal can the Mortgagor prepay each year?

Can the Mortgagor prepay any amount not prepaid in a previous year?

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Entire Prepayment & Power of Sale

Allow prepayment of entire balance owing?

Will there be a penalty for paying off the entire balancing owing?

What will be the penalty?

Do you wish to include a power of sale clause?

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