A mortgage is a type of loan in which the borrower agrees to mortgage real estate as collateral in order to ensure repayment to the lender. In the case of a typical mortgage, the buyer of the house agrees to transfer ownership of the house to the bank if the bank does not receive payment in full and in accordance with the terms of the mortgage agreement. The credit must be “secured” by real estate guarantees. 4. The repayment of the aforementioned principal and interest as well as all costs, charges and charges payable by the Mortgagor is secured by a first mortgage of this property described in the list below. Create, download and print a custom mortgage contract even today with our customizable mortgage contract template and form builder. 13. If the security is not marketable as indicated above, or if the Mortgagor does not conclude the transaction through the execution of the mortgages and other documents, as indicated above, within the aforementioned period or within another period extended by the mortgage borrowers, or in violation of any provision of this agreement, the mortgage borrowers are entitled to terminate this agreement up to fifteen days before the notification of the Mortgagor or his lawyer. 2. Interest at the above-mentioned interest rate shall be paid every three months, i.e. with quarterly balances, and, in the event of late payment of interest, as indicated above, mortgages shall be entitled to calculate interest on the amount of default interest corresponding to the interest rate corresponding to the abovementioned interest rate, so that withdrawal interest is activated as previously indicated by compound interest. However, this does not affect the right of mortgage borrowers to take measures to recover mortgage debt and default interest, in accordance with any legal procedure available to them, if the payment of interest is late quarterly as indicated above.
10. The transaction of the hypothec shall be concluded within three months from the date of this Agreement. If the transaction is not concluded, mortgage borrowers may, without prejudice to the right of mortgage borrowers to terminate this contract, calculate interest corresponding to the above-mentioned interest rate on the amount of the above-mentioned capital from the expiry of the said period until the execution of the mortgage agreement, and the same is deducted from the principal amount. Unless it is paid separately by the Mortgagor. A mortgage contract contains the details of the mortgage debtor and the mortgage lender, information about the property and any additional clauses that the debtor must comply with during the mortgage contract. . . .