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1. Parties: Identification of the mortgagee (financial institution) and mortgagor (borrower)
2. Background: Details of the original mortgage agreement, including date, registration details, and reason for extension
3. Definitions: Key terms used in the agreement, including references to original mortgage terms
4. Extension Terms: Specific details of the extension including new maturity date and any modified payment terms
5. Confirmation of Original Terms: Confirmation that all other terms of the original mortgage remain in effect
6. Representations and Warranties: Updated confirmations from the borrower regarding their ability to pay and status of the property
7. Conditions Precedent: Conditions that must be met before the extension becomes effective
8. Fees and Charges: Any fees or charges associated with the extension, ensuring Sharia compliance
9. Governing Law and Jurisdiction: Confirmation of Saudi law application and Sharia compliance
10. Execution: Signature blocks and execution requirements
1. Additional Security: Required if additional security is being provided as part of the extension
2. Modified Payment Schedule: Include if payment terms are being modified beyond just the extension of time
3. Guarantor Confirmation: Required if the original mortgage included guarantors who need to confirm the extension
4. Property Valuation: Include if a new property valuation is required as part of the extension
5. Insurance Requirements: Include if insurance arrangements need to be updated or modified
6. Default Provisions: Include if default terms are being modified from the original agreement
1. Schedule 1 - Original Mortgage Details: Copy or summary of key terms from the original mortgage agreement
2. Schedule 2 - Updated Payment Schedule: Detailed schedule of revised payment dates and amounts
3. Schedule 3 - Property Details: Updated property description and registration details
4. Appendix A - Sharia Board Approval: Confirmation of Sharia compliance from relevant religious authority
5. Appendix B - Required Consents: Copies of any regulatory or third-party consents required for the extension
6. Appendix C - Updated Property Documents: Any new or updated property documentation required for the extension
Banking & Finance
Real Estate
Islamic Finance
Property Development
Construction
Housing Finance
Commercial Property
Residential Property
Legal
Real Estate Finance
Islamic Banking
Compliance
Risk Management
Property Services
Credit Administration
Documentation
Corporate Banking
Retail Banking
Legal Counsel
Islamic Finance Specialist
Mortgage Officer
Real Estate Manager
Compliance Officer
Banking Relationship Manager
Property Finance Manager
Risk Assessment Officer
Sharia Compliance Officer
Senior Loan Officer
Real Estate Finance Director
Legal Documentation Specialist
Banking Operations Manager
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