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The Memorandum of Common Provisions would contain all the other elements that made up the formal mortgage document or lease. … It is possible, however, to create a provision in a memorandum in general terms, to achieve both compliance with the Statutes and the wishes of the parties.


Memorandum of Common Provisions of MortgageMemorandum of Common

Provisions of Mortgage

Regular use is made of a Memorandum of Common Provisions (MCP) to include provisions in Instruments and plans e.g. covenants in mortgages, restrictive covenants and easements in transfers and covenants in leases.

 

Memorandum of common provisions being the standard mortgage terms & conditions drafted by Kalde & Associates and lodged with NSW Land Registry Services for incorporation by reference.

We have also included an unbranded version (without the author’s logo), and a Word version so that you can include your own branding if you wish.

33 Pages Long

MORTGAGE MEMORANDUM OF COMMON PROVISIONS

  1. DEFINITIONS AND INTERPRETATION
  2. CONSIDERATION
  3. OBLIGATION TO PAY AND DISCHARGE THE SECURED MONEY
  4. MORTGAGE
  5. OBLIGATIONS TO DEPOSIT CERTIFICATES OF TITLE AND OTHER DOCUMENTS
  6. REPRESENTATIONS AND WARRANTIES
  7. GENERAL AND FINANCIAL UNDERTAKINGS
  8. OBLIGATIONS RELATING TO MORTGAGED PROPERTY
  9. INSURANCE
  10. ACCESS
  11. FURTHER ASSURANCES
  12. INDEMNITIES
  13. DEFAULT
  14. OBLIGATIONS TO GIVE NOTICE OR PROVIDE INFORMATION
  15. POWERS OF THE MORTGAGEE
  16. RECEIVERS
  17. EXERCISE OF POWERS
  18. RECEIPT AND APPLICATION OF MONEY
  19. NO OBLIGATION TO EXERCISE RIGHTS OR GIVE CONSENT
  20. CONTINUING SECURITY
  21. PRESERVATION OF MORTGAGEE’S RIGHTS
  22. SET‑OFF
  23. POWER OF ATTORNEY
  24. ILLEGALITY, FORCE MAJEURE
  25. AMENDMENT IN WRITING
  26. MORTGAGE AS A DEED
  27. COSTS
  28. ENTIRE AGREEMENT
  29. SEVERABILITY
  30. MORATORIUM LEGISLATION
  31. ASSIGNMENT
  32. NOTICES
  33. JURISDICTION

 

 

 

KALDE LEGAL

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