First Mortgage - Individual Or Corporation

FIRST MORTGAGE - INDIVIDUAL OR CORPORATION. This form is a standardized New York mortgage instrument used by attorneys to secure repayment of a loan through real property. The form establishes a lien on the mortgaged premises, including land, buildings, fixtures, and improvements, and extends to future additions or replacements. It contains detailed covenants requiring the mortgagor to repay debt, maintain fire and hazard insurance, pay taxes and assessments, and keep the property in good repair. It also assigns rents and awards from eminent domain as additional security, grants foreclosure rights, and provides conditions for acceleration of the debt. The document includes acknowledgment sections for execution inside and outside New York State. This form is expressly intended for attorney use and must be completed with legal guidance. www.FormsWorkflow.com