Mortgage to Secure Commercial Loan (Canada)

Canadian lenders, use this template to prepare a Mortgage on land in Canada owned by a corporate borrower. The mortgage is being granted as security for a commercial loan or other monies advanced to the business by the lender.

• Interest is calculated annually and payable semi-annually. Payments are made against combined principal and interest.
• The mortgage is given as general and continuing collateral security for all indebtedness of the borrower, including current or running accounts, revolving lines of credit, and other liabilities.
• The mortgage contains clauses covering condominium properties.
• The mortgage also sets out the lender's remedies if the property is condemned or expropriated.

This Canada Mortgage to Secure Commercial Loan is provided in MS Word format, and is easy to download, fill in and print.