Collateral Mortgage & Promissory Note (Nova Scotia)

Nova Scotia lenders, use this ready-made template to prepare a Land Mortgage collateral to a promissory note. The file also contains a Promissory Note form. Provisions of the Collateral Mortgage include:

• The borrower (mortgagor) will continue to hold the land and is responsible for paying all taxes, rates and assessments levied against the land.
• The borrower is responsible for insuring the buildings on the land for full insurable value.
• If the borrower defaults, the lender has the right to appoint a receiver of the property.

This Nova Scotia Collateral Mortgage and Promissory Note is in MS Word format, and is fully editable.