Promissory Note Secured by Real Estate | USA

Replace the property which is collateral for a mortgage with a different one under this Collateral Substitution Agreement.

Purpose of Agreement

This Collateral Substitution Agreement would be used by a mortgage lender in circumstances where a borrower wants to sell their mortgaged property in order to buy another property of approximately equal value.

The original real estate property is released from the mortgage, and the borrower's new property replaces the original one as collateral for the mortgage.

Original Provisions to Remain in Effect

The provisions of the original promissory note and all other loan documentation respecting the mortgage will remain in full force and effect against the borrower and the new property.

Format and Scope of Use

The Collateral Substitution Agreement is available in MS Word format and is fully editable and reusable, making it flexible and cost-effective.

This legal document is intended for use within the the United States. It does not contain any state-specific references.

USA lenders, serve a debtor with this Notice of Intention to Sell Property before the sale, in accordance with applicable laws in your State.

• The property was pledged as collateral security for a loan from the lender to the debtor.
• The lender (secured party) prepares and serves the Notice to advise the debtor that the property will be sold either through private sale or at public auction, to cover all or part of the outstanding debt, following default by the debtor in making payment.
• The form includes a Certificate of Service, to record how the Notice was served on the debtor.
• This Notice form is available as a MS Word template document which is downloadable and easy to use.
• The form can be used in States that do not have a statutory form.

Every commercial loan transaction should require the borrower to sign a Security Agreement. Use this customizable downloadable template.

• This form is only for use in the United States.
• The borrower (debtor) grants the lender (secured party) a security interest in certain property of the borrower, as collateral to secure repayment of the borrower's indebtedness under a promissory note.
• The parties intend the agreement to be a security agreement under the Uniform Commercial Code.
• The secured party has the right to take whatever action it considers necessary to protect its security interest.
• All amounts secured by the agreement become immediately due and payable if the borrower files for bankruptcy or becomes insolvent.
• The debtor waives any statute of limitations with respect to enforcement of the secured party's lien.

No lender should be without a standard form Security Agreement. If you don't have one yet, download your copy now.

When you loan money to a business, you want some assurances that the loan will be repaid even if the business does not survive. Get a shareholder, partner or proprietor of the business to execute this Unconditional Guarantee as security.

• The Guarantee sets out the guarantor's obligation to repay the loan in the event that the borrower defaults.
• The guarantor waives all of his/her rights with respect to notices of default or demand, and any rights regarding redemption or disposition of collateral.
• The guarantor must preserve the collateral pledged under the guarantee.
• The guarantor agrees to pay all of lender's costs to enforce the guarantee.
• This legal template is solely for use in the United States.

Buy and download the Unconditional Guarantee template, and get it signed with each business loan you make.