Appendix 4 Sample Memorandum of Mortgage

• Pages: 277-279

(under Real Property Ordinance, Ch 27, No 11)

WHEREAS [name of proprietor] of [address of proprietor] in the Island

of Trinidad is registered as Proprietor of an estate in fee simple (hereinafter called

‘the Landowner’) subject however to such mortgages and encumbrances as are noti-

fied by memorial underwritten or endorsed herein in the parcel of land described

in the Schedule hereto.

AND WHEREAS [name of borrower] of [address of borrower] in

the Island of Trinidad (hereinafter referred to as ‘the Borrower’) has requested the

[name of mortgagee bank], a Company duly incorporated in Trinidad and

Tobago with its registered oce situate at [address of mortgagee bank] in the

Island of Trinidad (hereinafter called ‘the Bank’, to make and/or continue to make

advances and/or give and/or continue to give accommodation to me and/or other

persons as the Bank may hereafter in its discretion and, if and so long as it shall

think fit to do so, and/or continue to make advances and/or give accommodation

to me and/or other persons in compliance with such request upon having the same

and such other monies and liabilities as are hereinafter mentioned secured to it in

manner hereafter appearing.

NOW THEREFORE I, the Borrower aforesaid, in pursuance and in consider-

ation of the premises do hereby jointly and severally covenant with the Bank that

Ishall pay to the Bank on demand in writing the balance which on my account with

the Bank shall for thetime being (and whether on or at any time after such demand)

be due and owing to the Bank by either solely or jointly with any other persons

firms or companies, and whether as principal or surety for or in respect of bills or

notes discounted or paid or other lands payments credit or advances on banking

account or otherwise made to or on account of or for the accommodation of or at

my request or for interest discount commission or other lawful charges in respect

of any of the matters aforesaid or for keeping my account, and will thereupon also

retire all bills or notes that may for the time being be under discount with the Bank

and which Iam party to either as drawer acceptor, maker or indorser without any

deduction whatsoever.

AND Ithe Borrower do hereby further covenant with the Bank that Iwill at all

times hereafter during the continuance of this security pay and discharge all rates,

charges and assessments that shall become due, payable or imposed on or in respect

of the said lands and all of the buildings thereon, and will also keep and maintain

all of the said buildings in good, complete and substantial repair and condition and

will at all reasonable times allow and permit the Bank and its agents and servants to

enter into and upon the said lands and buildings thereon and to view and inspect the

state and condition thereof, and if when required will repair and remedy any defects

that may be found therein, and also will insure and keep all of the said buildings

insured against loss or damage by fire (and during war if possible against loss or

damage by aircraft or arising out of aerial warfare or if the Bank shall think neces-

sary by bombardment by hostile guns not landed on the Island of Trinidad) in its

proper values in some insurance oce approved of by and in the name of the Bank,

and will pay the premiums in respect of such insurance as and when the same shall

APPENDIX 4

SAMPLE MEMORANDUM OF MORTGAGE