Additional Property Identifier(s) and/or Other information
Additional Property Identifier(s) and/or Other information
The amount of principal money secured by this Charge is the sum of ________________________________ Dollars ($____________) (the “Principal Amount”) and any additional principal amounts advanced by the Chargee to the Chargor from time to time under this Charge, and the rate of interest chargeable thereon is _______ per centum ( _________ %) per annum (the “Charge Rate”) calculated half-yearly not in advance, as well after as before maturity of this Charge, and both before and after default and judgment until paid.
Defeasance:
PROVIDED this Charge to be void upon the Chargor, his heirs, executors, administrators, successors or assigns or any of them paying to the Chargee, its successors or assigns in lawful money of Canada, the Principal Amount with interest thereon at the Charge Rate, calculated half-yearly, not in advance, as well after as before maturity and both before and after default and judgment until paid, as follows:
Interest at the Charge Rate on the amounts from time to time advanced, computed from the respective dates of such advances until ______________ ____________ ____________
(Month) (Day) (Year)
shall become due and be paid on the date last mentioned (hereinafter referred to as the “date for adjustment of interest”). Provided that the Chargee may require such interest at the Charge Rate on the principal advances from time to time, computed from the respective dates of such advances, to become due and payable in monthly instalments on the ____________day of the month next following the first advance, and on the _______ day of each and every month thereafter and the balance, if any, of the aforesaid interest on advances shall become due and be paid on the date for adjustment of interest. At the option of the Chargee, interest so due and payable may be deducted from such advances. Thereafter, the Principal Amount, together with interest thereon at the Charge Rate computed from the date for adjustment of interest, shall become due and be paid by monthly instalments of __________________________________________ Dollars ($____________) each (which include principal and interest) on the __________ day of each and every month in each and every year from and including ________________
(Month)
_____________, _____________ to and including ________________ _____________,
(Day) (Year) (Month) (Day)
___________ and the balance, if any, of the Principal Amount and interest thereon shall
(Year)
become due and payable on the date last mentioned; and also paying to the Chargee, its successors or assigns in lawful money of Canada, any additional principal amounts advanced by the Chargee to the Chargor from time to time under this Charge with interest thereon; and paying any taxes, rates, levies, charges or assessments upon the Charged Premises no matter by whom or what authority imposed and observing and performing all covenants, provisos and conditions contained in this Charge.
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FOR OFFICE USE ONLY
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