MORTGAGE AGREEMENT
THIS AGREEMENT (the “Agreement”), is made this 1st day of July, 2010, by and among
________with a principal address of__________ (hereinafter, known as “Mortgagor”) and
______________with a principal address of__________ (hereinafter, known as “Mortgagee”)
both of whom agree as follows;
IN CONSIDERATION OF the matters described above and of the mutual benefits and
obligations set forth in this Agreement, the receipt and sufficiency of which consideration is
hereby acknowledged, the Company and the model (individually the “Party” and collectively
“The Parties” to this agreement) agree as follow:
TERMS
1. TERM OF AGREEMENT
The term of this agreement (the “Term”) will begin on the date on this agreement and
will remain on full force and effect until the completion of the services, subject to earlier
termination as provided in this Agreement. The Term may be extended with the written
consent of the parties.
2. BACKGROUND
The Mortgagor is the registered owner of the property described. The property is 2589 E
Dorchester Drive, Deltona FL 32738.
The Mortgagee offers loan to the interested party.
The parties enter into a loan agreement of $50000 (the principal) the receipt of which the
mortgagor acknowledges.
3. AUTHORITY TO ENTER AGREEMENT
Each Party warrants that the individuals who signed this Agreement have the actual legal
power, right and authority to make this agreement and bind each respective Party.
4. WARRANTIES
2
The Mortgagor warrants that, he possesses legal and good to the property mortgaged. The
mortgagor shall preserve and defend the title against any claim form any person and
likewise
Warrants to have the authority and title to mortgage the property.
5. PROMISE TO PAY
6. FOR VALUE RECEIVED, Mortgagor promises to repay the sum of 50000.00 dollars
together with interest thereon at a rate of 11 percent (%) per annum.
7. PENALTY FOR LATE PAYMENT
In the instance where it is not paid at that date, extend for up to 3 months & begin
payments of $459/month.
8. INDEMNIFICATION
Should any party materially breach this agreement, the non-breaching party shall be
indemnified by the breaching party for its reasonable attorney’s fees and out-of-pocket
costs which in any way relate to, or were precipitated by, the breach of this agreement.
The term “out-of-pocket costs”, as used herein, shall not include lost profits.
9. INTERGRATION
This Agreement, including the attachments mentioned in the body as incorporated by
reference, sets forth the entire agreement between the Parties with regard to the subject
matter hereof. All prior agreements, representations and warranties, express or implied,
oral or written, with respect to the subject matter hereof, are superseded by this
agreement. This is an integrated agreement.
10. CONFIDENTIALITY
Except as otherwise expressly permitted in this Agreement, the parties shall not disclose
or use in any manner, directly or indirectly, any Confidential Information either during
the term of this Agreement or at any time thereafter, except as required to perform their
respective duties and responsibilities or with the other party’s prior written consent. Both
parties agree that all Confidential Information disclosed and received shall remain secret
3
and confidential during the term of this Agreement and continue thereafter for 10 years
after this Agreement is terminated or expires.
11. NOTICES
In the instance of cancellation, a notice of 1 week will be required. All notices under this
Agreement shall be in writing and sent to the address of the recipient specified herein.
Any such notice may be delivered by hand, by overnight courier, certified mail with
return receipt, or first class pre-paid letter, and will be deemed to have been received (1)
if delivered by hand – at the time of delivery; (2) if delivered by overnight courier – 24
hours after the date of delivery to courier with evidence from the courier; (3) if delivered
by certified mail with return receipt – the date as verified on the return receipt; (4) if
delivered by first class mail – three (3) business days after the date of mailing.
12. DISPUTE RESOLUTION
If the parties are unable to solve any dispute that may arise through informal negotiations,
the dispute will be solved through mediation.
13. SEVERABILITY
If any term, covenant, condition, or provision of this Agreement is held by a court of
competent jurisdiction to be invalid, void, or unenforceable, the remainder of the
provisions shall remain in full force and effect and shall in no way be affected, impaired,
or invalidated.
14. FORCE MAJEURE
Neither party shall be liable for any failure to perform under this Agreement when such
failure is due to causes beyond that party’s reasonable control, including, but not limited
to, acts of State or governmental authorities, acts of terrorism, natural catastrophe, fire,
storm, flood, earthquakes, accident, and prolonged shortage of energy.
4
15. GOVERNING LAW
This Agreement shall be governed under the laws in the State of Florida.
16. AMENDMENT AND MODIFICATION
No supplement, modification or amendment of this Agreement shall be binding unless
executed in writing and signed by both parties
17. WAIVER
No waiver of any default shall constitute a waiver of any default or breach, whether of
the same or other covenant or condition. No of any service voluntarily given or
performed by a Party shall give the other Party any contractual right by contractual right
or otherwise.
IN WITNESS WHEREOF, this Agreement was signed by the parties under the hands of their
duly authorized officers and made effective as of the undersigned date.
Mortgagor`s Signature __________________________ Date ________________
Name ____________________________
Mortgagee`s Signature __________________________ Date ________________
Name ____________________________
5
At Legal writing experts, we would be happy to assist in preparing any legal document you need. We are international lawyers and attorneys with significant experience in legal drafting, Commercial-Corporate practice and consulting. In the last few years, we have successfully undertaken similar assignments for clients from different jurisdictions. If given this opportunity, The LegalPen will be able to prepare the legal document within the shortest time possible. You can send us your quick enquiry ( here )