№ files_lp_3_process_7_057067
Statutory mortgage instrument establishing a variable rate demand loan secured by registered land in Alberta and setting out repayment terms, interest calculation, security provisions, and obligations of the mortgagor under provincial law.
Jurisdiction: Province of Alberta, Canada
Governing Legislation: Land Titles Act; Law of Property Act (Alberta), Regulation 89/2004
Type of Document: Variable Rate Demand Mortgage
Mortgagee: ATB Financial (formerly Alberta Treasury Branches)
Mortgagor: Registered owner or entitled owner of the described lands
Subject Property: Lands located in the Province of Alberta as described in the Certificate of Title or Schedule “A”
Principal Sum: Specified principal amount in lawful money of Canada
Interest Rate: Variable rate equal to a stated percentage above the Mortgagee’s Prime Lending Rate
Repayment Terms: Principal and interest payable on demand
Security: Charge against the Lands including buildings and improvements
Obligations of Mortgagor: Payment of taxes, claims, costs, insurance, and other secured amounts
High Ratio Mortgage Provision: Applicable where principal exceeds 75% of market value as defined by Regulation 89/2004
Price: 8 / 10 USD
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