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    Directors Resolutions to Grant a Mortgage | Canada


    Before a Canadian corporation can grant a mortgage to a lender, the Board of Directors must pass these resolutions to approve the action.

    • The directors authorize the corporation to mortgage certain property to a lender as security for a loan, an operating line or other amounts advanced by the lender to the corporation.
    • This downloadable template can be used by corporations incorporated under the Canada Business Corporations Act or under any provincial Business Corporations Act.
    • A French language translation may be required for use in Quebec.
    • The Directors Resolution to Grant Mortgage form for Canada is a fully editable and easy-to-use MS Word template.
    Download Type: Microsoft Word
    Last Updated: 27-June-2018
    SKU: 73
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    Canada Fixed Rate Closed Term Mortgage


    Prepare a Fixed Rate Closed Term Mortgage with this template form for Canada, which can be customized for use in most Canadian provinces.

    Standard provisions of the mortgage include:
    • Equal monthly payments of blended principal and interest (and taxes, if the lender requires).
    • On default, the lender has the right to take possession of the property by distress warrant or by foreclosing on the property.
    • The lender has the right to bring legal action to recover mortgage arrears and costs, plus interest and any other amounts owing.
    This Canada Fixed Rate Closed Term Mortgage is a MS Word document, and is fully editable.