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 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
- DEFINITIONS AND INTERPRETATION
- CONSIDERATION
- OBLIGATION TO PAY AND DISCHARGE THE SECURED MONEY
- MORTGAGE
- OBLIGATIONS TO DEPOSIT CERTIFICATES OF TITLE AND OTHER DOCUMENTS
- REPRESENTATIONS AND WARRANTIES
- GENERAL AND FINANCIAL UNDERTAKINGS
- OBLIGATIONS RELATING TO MORTGAGED PROPERTY
- INSURANCE
- ACCESS
- FURTHER ASSURANCES
- INDEMNITIES
- DEFAULT
- OBLIGATIONS TO GIVE NOTICE OR PROVIDE INFORMATION
- POWERS OF THE MORTGAGEE
- RECEIVERS
- EXERCISE OF POWERS
- RECEIPT AND APPLICATION OF MONEY
- NO OBLIGATION TO EXERCISE RIGHTS OR GIVE CONSENT
- CONTINUING SECURITY
- PRESERVATION OF MORTGAGEE’S RIGHTS
- SET‑OFF
- POWER OF ATTORNEY
- ILLEGALITY, FORCE MAJEURE
- AMENDMENT IN WRITING
- MORTGAGE AS A DEED
- COSTS
- ENTIRE AGREEMENT
- SEVERABILITY
- MORATORIUM LEGISLATION
- ASSIGNMENT
- NOTICES
- JURISDICTION