```markdown
# MORTGAGE AGREEMENT
**This Mortgage Agreement ("Agreement") is made and entered into on [Date] by and between:**
**Borrower:**
[Borrower's Full Name]
[Borrower's Address]
[City, State, Zip Code]
[Email Address]
[Phone Number]
**Lender:**
[Lender's Full Name]
[Lender's Address]
[City, State, Zip Code]
[Email Address]
[Phone Number]
## 1. LOAN AMOUNT
The Lender agrees to loan the Borrower the sum of **[Loan Amount]** (the "Loan"), which shall be secured by a mortgage on the property located at:
[Property Address]
[City, State, Zip Code]
## 2. PURPOSE OF LOAN
The Loan shall be used by the Borrower for the purpose of purchasing the above-mentioned property.
## 3. INTEREST RATE
The Loan shall bear interest at the rate of **[Interest Rate]% per annum**, calculated on a [fixed/variable] basis.
## 4. LOAN TERM
The term of this Loan shall be **[Loan Term in Years]** years, starting from [Start Date] and ending on [Maturity Date].
## 5. REPAYMENT
Repayment of the Loan shall be made in equal monthly installments of **[Monthly Payment Amount]**. Payments are due on the [Payment Due Date of Each Month] of each month until the Loan is paid in full.
## 6. PREPAYMENT
The Borrower may prepay all or any portion of the principal amount of the Loan without penalty. Any prepayments shall first be applied to accrued interest and then to the principal balance.
## 7. DEFAULT
If the Borrower fails to make any payment due hereunder within [Number of Days] days after it is due, it shall be considered a default under this Agreement. In the event of default, the Lender may accelerate the Loan and call the entire unpaid balance for immediate payment.
## 8. MORTGAGE
As security for the Loan, the Borrower hereby grants and conveys to the Lender a mortgage on the property located at [Property Address]. The Borrower agrees to execute and deliver to the Lender any and all documents necessary to perfect and record the mortgage.
## 9. INSURANCE AND TAXES
The Borrower shall maintain homeowners insurance on the property and shall pay all applicable property taxes. Proof of insurance shall be provided to the Lender upon request.
## 10. GOVERNING LAW
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
## 11. ENTIRE AGREEMENT
This Agreement constitutes the entire agreement between the parties and supersedes all prior written or oral agreements with respect to the subject matter hereof.
## IN WITNESS WHEREOF, the parties hereto have executed this Mortgage Agreement as of the date first above written.
**Borrower Signature:**
__________________________
[Borrower's Full Name]
**Lender Signature:**
__________________________
[Lender's Full Name]
**Date:** [Date]
---
**NOTARY PUBLIC**
State of [State]
County of [County]
This instrument was acknowledged before me on [Date] by [Borrower's Full Name] and [Lender's Full Name].
______________________________
Notary Public Signature
My Commission Expires: [Date]
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### Instructions:
- Fill in all placeholders (e.g., [Date], [Borrower's Full Name], etc.) with the appropriate information.
- Customize any sections to better fit your specific circumstances or requirements.
- Have the document reviewed by a qualified attorney or professional before use to ensure it complies with local laws and regulations.