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Document Id : 5338
File Type : Microsoft Word
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Alberta Standard Charge Fixed Rate Mortgage
Prepare a Standard Charge Fixed Rate Closed Term Mortgage with this template form for Alberta properties.
- Renewal. Early renewal privileges, i.e. the mortgage may be renewed on any installment payment date.
- Interest. Interest will be calculated half-yearly, not in advance.
- Property Taxes. The mortgage lender may elect to pay the property taxes when they come due, or elect to have the borrower (mortgagor) pay the taxes.
- Application of Payments. All payments will be applied first to taxes and life insurance (if applicable), then to interest, then to principal, and then to any other moneys owing.
- Leasehold. Optional provisions for a leasehold mortgage.
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