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Mortgage And Promissory Note
"Need a Mortgage and Promissory Note for a commercial property purchase in Singapore valued at SGD 2.5 million, with a 20-year term and variable interest rate, where the borrower is a foreign-owned company requiring additional foreign ownership clauses."
1. Parties: Identification of mortgagor and mortgagee with full legal names and addresses
2. Background: Context of the mortgage arrangement and property details
3. Definitions: Key terms used throughout the document
4. Loan Amount and Terms: Principal amount, interest rate, and loan duration
5. Security: Description of mortgaged property and security arrangements
6. Repayment Terms: Payment schedule, installment amounts, and payment methods
7. Mortgagor's Covenants: Obligations of the borrower including property maintenance and insurance
8. Events of Default: Circumstances constituting default and consequences
9. Enforcement Rights: Mortgagee's rights upon default
1. HDB Compliance: Required for HDB properties, containing specific HDB requirements
2. Foreign Ownership: Additional requirements for foreign buyers
3. Early Repayment: Terms for early loan settlement
4. Property Management: Specific requirements for property maintenance
1. Property Details Schedule: Detailed property description, boundaries, and title information
2. Payment Schedule: Detailed breakdown of payment installments and dates
3. Insurance Requirements: Specific insurance coverage requirements and terms
4. Property Valuation Report: Professional valuation of the mortgaged property
5. Land Title Documents: Copies of relevant title documents and certificates
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