Fixed Rate Closed Term Mortgage | Canada

Use this template Collateral Mortgage and Promissory Note for credit facilities in Alberta.

• A collateral mortgage can be used to secure a line of credit, a revolving loan, or other credit facility where the balance owing changes from time to time.
• The borrower is responsible for insuring, repairing, and maintaining the mortgaged property and for paying all taxes and assessments.
• The lender is appointed as the borrower's attorney (agent) for the purpose of recovering any insurance proceeds with respect to the property.
• The lender has power of attorney to sell, lease or encumber the property if the borrower defaults in its obligations.
• The full balance owing is immediately payable if the borrower sells the property or, if the borrower is a corporation, there is a change in control.
• This is a downloadable legal template in MS Word format.
• Intended for use in the Province of Alberta, 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.

Amend or renew a mortgage on a residential property in Canada with this Mortgage Amending or Renewal Agreement.

• Any changes to the mortgage, and any renewal of the mortgage, must be done in writing and signed by both parties. The mortgagor (borrower) and mortgagee (lender) agree to renew the mortgage and amend the following provisions of the original loan:
  • the term of the renewal period,
  • the adjusted interest rate,
  • the adjusted payment amount,
  • the payment frequency (monthly, weekly, bi-monthly).
• NOTE: This is not a bank form. Each commercial lender has its own forms. This form is for privately placed mortgages.
• Available in MS Word format.
• Intended to be used only in Canada.

Download this free Statement of Amount Owing on Mortgage for Canadian mortgage lenders.

• This form is typically used when a mortgaged property is being sold and the mortgage is being paid out from the sale proceeds.
• The Statement sets out the principal and interest amounts owing up to the date of the statement, with a per diem thereafter, and the terms of repayment.
• This is a free downloadable MS Word document.
• Intended for use only in Canada.

Ontario lenders can use this template form to prepare Standard Charge Terms for a straight charge or mortgage under Section 9 of the Land Registration Reform Act.

• When you file your initial set of Standard Charge Terms with the Land Titles Office, they issue you a filing number.
• Each time you submit a Form 2 Charge / Mortgage of Land to secure a loan, you refer to the filing number.
• That will ensure that the loan agreement secured by the mortgage is governed by this set of standard terms.

To get your copy of the Standard Terms for Straight Charge / Mortgage, add it to your cart, check out and pay, and download the form to your computer.