Immovable Hypothecary Deed on Specific Property

Quebec English Civil law Unannotated

Immovable Hypothecary Deed on Specific Property

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Immovable Hypothecary Deed on Specific Property

The immovable hypothec on specific property is the legal instrument by which a financial institution agrees to grant a business an operating line of credit secured by a hypothec on an immovable asset. This type of agreement is a cross between a movable hypothec agreement and a loan agreement and, as such, the parameters of these two agreements must be taken into account when interpreting this agreement.

It should be noted that this template is drafted from a commercial perspective and does not take into account the particular requirements of the Quebec Consumer Protection Act.

Immovable Hypothecary Deed on Specific Property

We recommend using this agreement in the event of a commercial partnership, where the borrower wishes to grant an hypothec on one of his or her immovable assets as a security for the sums that the creditor agrees to lend. Note that both theses operations, the loan and the hypothec, are in this case put in the same document, even though they may be the subject of two distinct contracts.

Immovable Hypothecary Deed on Specific Property

0.00 INTERPRETATION
0.01 Terminology
0.01.01 Activities
0.01.02 Closing Date
0.01.03 Dangerous Material
0.01.04 Deed
0.01.05 Environmental Laws
0.01.06 Essential Stipulations
0.01.07 Events of Default
0.01.08 Immoveable
0.01.09 Incorporating Act
0.01.10 Land Taxes
0.01.11 Legal Representatives
0.01.12 Loan
0.01.13 Offer
0.01.14 Operating Costs
0.01.15 Pre-authorized Installments
0.01.16 Surety
0.02 Financial Expressions
0.03 Precedence
0.04 Jurisdiction
0.04.01 Governing Law
0.04.02 Presumption
0.04.03 Adaptation
0.05 Miscellaneous
0.05.01 Cumulative Rights
0.05.02 Computation of Time
0.05.03 Currency
0.05.04 Gender and Number
0.05.05 Headings
1.00 LOAN
1.01 Grant
1.02 Disbursement
2.00 CONSIDERATION
2.01 Non-disbursed Funds
2.02 Funds Advanced
3.00 TERMS OF PAYMENT AND REIMBURSEMENT
3.01 Installments
3.02 Adjustments
3.03 Place of Payment
3.04 Anticipated Reimbursement
3.05 Expiry of Term
3.06 Arrears
4.00 SECURITY FOR PAYMENT
4.01 Main Hypothec
4.02 Additional Hypothec
4.03 Hypothec of Rent
4.03.01 Creation
4.03.02 Authorization
4.03.03 Documentation
4.03.04 Administration
4.03.05 Accountability
4.03.06 Non-liability
4.03.07 Use and Imputation
4.03.08 Continuation
4.04 Surety
4.04.01 Declaration
4.04.02 Undertaking
4.04.03 Recognition
4.04.04 Election
5.00 REPRESENTATIONS OF THE BORROWER
5.01 Status
5.02 Canadian Resident
5.03 Property
5.04 Capacity
5.05 Accessories
5.06 Work
5.07 Land Taxes
5.08 Insurance
5.09 Operating Costs
5.10 Leases
5.11 Environment
5.12 Financial Situation
5.13 Essential Stipulations
6.00 OBLIGATIONS OF THE LENDER
6.01 Disbursement
6.02 Information
6.03 Registration
6.04 Remittance
6.05 Release
6.06 Indemnity
7.00 OBLIGATIONS OF THE BORROWER
7.01 Use
7.02 Maintenance
7.03 Alienation
7.04 Construction
7.05 Expropriation
7.06 Insurance
7.06.01 Coverage
7.06.02 Transport
7.06.03 Default
7.06.04 Loss
7.07 Land Taxes
7.08 Environment
7.08.01 Compliance
7.08.02 Authorizations
7.08.03 Inspection
7.08.04 Infraction
7.08.05 Modification
7.09 Operating Costs
7.10 Indemnification
7.11 Dispute
7.12 Financial Statements
7.13 Honorarium and Disbursements
8.00 SPECIAL PROVISIONS
8.01 Assignment
8.02 Proof of Default
8.03 Indivisibility
9.00 GENERAL PROVISIONS
9.01 Schedules
9.02 Notices
9.03 Choice of Venue
9.04 Amendment
9.05 Non-Waiver
10.00 COMING INTO FORCE
11.00 SCOPE


SCHEDULE A - EXTRACT FROM THE RESOLUTION OF THE BORROWER
SCHEDULE B – CREDIT OFFER
SCHEDULE C – TABLE OF MONTHLY INSTALLMENTS PAYABLE BY THE BORROWER
SCHEDULE D – LIST OF CHARGES ON IMMOVEABLE
SCHEDULE E – DISBURSEMENT CALENDAR
SCHEDULE F – HYPOTHEC SUMMARY
SCHEDULE G – INTERVENTION OF THE SPOUSE OF THE BORROWER

Immovable Hypothecary Deed on Specific Property

  1. Documents

  2. $124.99

  3. $174.99

  4. $124.99