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The Private Mortgage Loan Agreement is a crucial document used in Pakistan when an individual or institution provides a loan secured by real property. This agreement is essential for protecting both lender and borrower interests in mortgage transactions, combining elements of conventional banking and Pakistani legal requirements. It typically includes detailed terms about the loan amount, interest calculations, repayment schedule, and security creation. The document must comply with various Pakistani laws including the Transfer of Property Act, Registration Act, and relevant banking regulations. It's particularly important for private lending transactions where the lender isn't a traditional banking institution, requiring careful attention to legal compliance and enforcement mechanisms.

1. Parties: Identification of the lender and borrower with complete details including CNIC numbers, addresses, and contact information

2. Background: Context of the loan agreement, including purpose of the loan and brief description of the property being mortgaged

3. Definitions: Definitions of key terms used throughout the agreement

4. Loan Amount and Purpose: Specification of the principal loan amount, purpose, and any conditions precedent to disbursement

5. Interest Rate and Calculations: Details of interest rate, calculation method, and payment frequency

6. Repayment Terms: Schedule of repayments, payment methods, and prepayment provisions

7. Security and Mortgage Details: Description of the mortgaged property and terms of the security interest

8. Representations and Warranties: Statements of fact and assurances by the borrower regarding their capacity and the property

9. Covenants: Ongoing obligations of the borrower during the loan term

10. Events of Default: Circumstances constituting default and consequences thereof

11. Enforcement Rights: Lender's rights and remedies in case of default

12. Expenses and Taxes: Allocation of costs, stamp duties, and taxes related to the loan and property

13. Notices: Method and addresses for serving notices between parties

14. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and jurisdiction for disputes