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The Car Mortgage Agreement is a fundamental document in UAE vehicle financing transactions, used when a lender provides financing for a vehicle purchase or accepts a vehicle as security for a loan. This agreement, governed by UAE law, must comply with multiple regulatory frameworks including the UAE Civil Code, Commercial Transactions Law, and Central Bank regulations. It is typically executed alongside a loan agreement and requires registration with the relevant traffic department. The document outlines comprehensive details about the vehicle, payment terms, maintenance obligations, and enforcement mechanisms. It's particularly important in the UAE market where vehicle financing is a significant component of both consumer and commercial lending, and where specific legal requirements exist for creating and enforcing security interests over vehicles.

1. Parties: Identification of the Mortgagee (lender) and Mortgagor (borrower) with full legal names and details

2. Background: Context of the agreement, including reference to the underlying loan agreement and purpose of the security

3. Definitions: Key terms used throughout the agreement, including 'Secured Property', 'Secured Obligations', 'Event of Default'

4. Grant of Security: Creation of the mortgage over the vehicle, including specific details of the security interest being created

5. Vehicle Details: Comprehensive description of the mortgaged vehicle including make, model, year, color, chassis number, and registration details

6. Secured Obligations: Description of the obligations secured by the mortgage, including principal, interest, and other charges

7. Representations and Warranties: Mortgagor's confirmations regarding ownership, condition, and absence of prior encumbrances on the vehicle

8. Covenants: Mortgagor's ongoing obligations regarding vehicle maintenance, insurance, and usage restrictions

9. Registration and Perfection: Requirements for registering the mortgage with relevant authorities and maintaining registration

10. Events of Default: Circumstances constituting default and triggering enforcement rights

11. Enforcement: Mortgagee's rights and remedies upon default, including power of sale

12. General Provisions: Standard clauses including notices, amendments, governing law, and jurisdiction