Mortgage Amending Agreement (Canada)

Agreement between a mortgage lender and a mortgage borrower amending the terms of the mortgage.

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This agreement is between a mortgage lender and a mortgage borrower amending the terms of the original mortgage.

This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon.
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Mortgage Amending Agreement

 

 

 

THIS AGREEMENT made as of [Effective Date of Mortgage Amendment]
B E T W E E N:
[NAME OF MORTGAGOR (MORTGAGE BORROWER)]
(the “Mortgagor”)
- and -
[NAME OF MORTGAGEE (MORTGAGE LENDER)]
(the “Mortgagee”)
WHEREAS:
(A)   By a Mortgage dated [Date of Mortgage] and registered/recorded in the Registry Office [Municipality of Registration] on [Date of Mortgage Registration] as number [Mortgage Registration Number] (the “Mortgage”), the Mortgagor gave to the Mortgagee a mortgage upon the property municipally known as [Municipal Address of Property] and legally described as [Legal Description of Property] (the “Property”) to secure the payment of the principal sum of [Amount of Mortgage (ie. $150,000.00)] with interest as therein set out upon the terms therein mentioned; and
(B)   The parties hereto have agreed to amend certain terms of the said Mortgage as hereinafter set out;
NOW THEREFORE in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
1.   The parties agree that the recitals above are true and correct in all material respects.
2.   The parties agree that the Mortgage is hereby modified and amended as of the date hereof as follows.
(a)   [List First Amendment];
(b)   [List Second Amendment];
3.   The parties hereby confirm that all other terms and conditions of the Mortgage are in full force and effect, unamended except as expressly provided in this Agreement.
4.   Nothing herein contained shall create any merger or alter the rights of the Mortgagee as against any subsequent encumbrancer or other persons interest in the Property, nor affect the liability of any person not a party hereto who may be liable to pay the said Mortgage money or the rights of any such person all of which rights are hereby reserved.
5.   The provisions of this document shall enure to and be binding upon the executors, administrators, successors and assigns of each party and all covenants, liabilities and obligations shall be joint and several.
6.   This Agreement may be executed in several counterparts each of which when so executed shall be deemed to be an original and which counterparts together shall constitute one and the same instrument. The parties hereby acknowledge and agree that for the purpose of offer, acceptance and execution of this Agreement, an executed facsimile copy shall constitute an original executed copy.
IN WITNESS WHEREOF this Agreement has been executed by the parties hereto as of the date first above written.
 
 
 
 
Witness
 
[NAME OF MORTGAGOR]
 
 
 
[NAME OF MORTGAGEE]
 
 
 
 
Per:
 
 
 
 
Name:   
Title:   
 
Number of Pages4
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28702
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Mortgage Amending Agreement

 

 

 

THIS AGREEMENT made as of [Effective Date of Mortgage Amendment]
B E T W E E N:
[NAME OF MORTGAGOR (MORTGAGE BORROWER)]
(the “Mortgagor”)
- and -
[NAME OF MORTGAGEE (MORTGAGE LENDER)]
(the “Mortgagee”)
WHEREAS:
(A)   By a Mortgage dated [Date of Mortgage] and registered/recorded in the Registry Office [Municipality of Registration] on [Date of Mortgage Registration] as number [Mortgage Registration Number] (the “Mortgage”), the Mortgagor gave to the Mortgagee a mortgage upon the property municipally known as [Municipal Address of Property] and legally described as [Legal Description of Property] (the “Property”) to secure the payment of the principal sum of [Amount of Mortgage (ie. $150,000.00)] with interest as therein set out upon the terms therein mentioned; and
(B)   The parties hereto have agreed to amend certain terms of the said Mortgage as hereinafter set out;
NOW THEREFORE in consideration of the premises and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:
1.   The parties agree that the recitals above are true and correct in all material respects.
2.   The parties agree that the Mortgage is hereby modified and amended as of the date hereof as follows.
(a)   [List First Amendment];
(b)   [List Second Amendment];
3.   The parties hereby confirm that all other terms and conditions of the Mortgage are in full force and effect, unamended except as expressly provided in this Agreement.
4.   Nothing herein contained shall create any merger or alter the rights of the Mortgagee as against any subsequent encumbrancer or other persons interest in the Property, nor affect the liability of any person not a party hereto who may be liable to pay the said Mortgage money or the rights of any such person all of which rights are hereby reserved.
5.   The provisions of this document shall enure to and be binding upon the executors, administrators, successors and assigns of each party and all covenants, liabilities and obligations shall be joint and several.
6.   This Agreement may be executed in several counterparts each of which when so executed shall be deemed to be an original and which counterparts together shall constitute one and the same instrument. The parties hereby acknowledge and agree that for the purpose of offer, acceptance and execution of this Agreement, an executed facsimile copy shall constitute an original executed copy.
IN WITNESS WHEREOF this Agreement has been executed by the parties hereto as of the date first above written.
 
 
 
 
Witness
 
[NAME OF MORTGAGOR]
 
 
 
[NAME OF MORTGAGEE]
 
 
 
 
Per:
 
 
 
 
Name:   
Title:   
 

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