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Glossary
Adjustment date means every day on which an interest adjustment is made in this mortgage.
Balance due date means the date on which this mortgage money is due and payable as shown in box 6 (i) of the registered document, or a revised date that the mortgagee may establish.
Borrower you and your” means each person or corporation who is, or is entitled to be, the registered owner of the land and who is described in box 1 and who signs in box 7 of this mortgage as mortgagor(s).
Borrower mailing address means the postal address of the borrower shown on the registered document or the most recent postal address provided in a written notice given by the borrower to the lender under these standard mortgage terms.
Borrower’s promises and agreements means any one or more of the
borrower’s obligations, promises and agreements contained in this mortgage.
Box means a box, designated by its number, on the registered document. Where any information contained in a box is amended by agreement, a reference in these Standard Charge Mortgage Terms to information in a box will include the information in any amending agreement.
Charge means an encumbrance, lien or interest in the land.
Covenantor means any person who, although not a registered owner of land, is named as covenantor in box 1 and has signed as covenantor in box 9.
Default includes each of the events of default listed in section 19 of these standard mortgage terms.
First payment date means the date on which the first instalment payment is payable as shown on the registered document, or a revised date that the mortgagee may establish.
Instalment payment means the amount of each periodic payment shown on the registered document, or a revised amount that the mortgagee may establish.
Instalment payment date means each payment date commencing on the first payment date shown on the registered document, or a revised date that the mortgagee may establish.
Interest means interest at the interest rate shown on the registered document.
Interest adjustment date means the interest adjustment date shown in box 6(d) on the registered document as amended from time to time and is the date on which you agree to pay interest accrued from the date of advance of funds. If there is a change to the interest adjustment date, we will notify you of the amended date.
Interest calculation period means the period or periods for the calculation of interest shown in box 6(c)on the registered document.
Interest rate means the interest rate shown in box 6(b) on the registered document, or a revised rate that the mortgagee may establish.
Land means all the mortgagor’s present and future interest in the land described in box 2 of the registered document including every incidental right, benefit or privilege attaching to that land or running with it and all buildings and improvements that are now or later constructed on or made to that land.
Last payment date means the date on which the last instalment payment is due as shown in box 6(g) on the registered document, or a revised date that the mortgagee may establish.
Lease means the leasehold interest, if any, of the mortgagor referred to in the registered document.
Lender, we, our and us means the person or persons named in box 3 of the registered document as a mortgagee and includes any person to whom the lender transfers this mortgage.
Lender mailing address means the postal address shown in box 4 on the registered document or the most recent postal address provided in a written notice given by the lender to the borrower under these standard mortgage terms.
Loan amount means the principal amount, interest and all other amounts owing to us from time to time under this mortgage.
Maturity date means the balance due date shown in box 6(i) on the registered document, or a revised date that the mortgagee may establish, and is the date on which all unpaid mortgage money is due and payable, or such earlier date on which the mortgagee can lawfully require payment of the mortgage money.
Mortgage means the mortgage given to us under the Act and regulations to secure payment of the loan amount and to secure performance of all of your other obligations under the mortgage. It includes the registered document, these Standard Charge Mortgage Terms, any schedule attached and any future renewals, amendments or extensions. It also includes any amendments and replacements or substitutional forms which may be prescribed.
Mortgage money means the principal amount, interest and any other money owed by the mortgagor under this mortgage, the payment of which is secured by this mortgage.
Principal amount means the amount of money shown as the principal amount in box 6(a) on the registered document as reduced by payments made by the mortgagor from time to time, or increased by the advance or re-advance of money to the mortgagor by the mortgagee from time to time, and includes all money that is later added to the principal amount under these standard mortgage terms.
Paragraph refers to a numbered paragraph in this set of standard mortgage terms.
Registered document means the mortgage or charge, which is part of this mortgage and any schedules attached to it, as amended from time to time, that is or will be registered against title to your property.
Receiver means a receiver or receiver manager appointed by the mortgagee under this mortgage.
Registrar means a court or judge having jurisdiction in any matter arising out of this mortgage.
Regulations means any regulations made under the Act from time to time.
Schedule means any schedule attached to the registered document. It may contain certain additional terms which apply to the mortgage or may amend the terms herein.
Taxes includes all taxes, rates and assessments of every kind which are now or afterward payable by any person in connection with this mortgage, the land or its use and occupation, or arising out of any transaction between the mortgagor and the mortgagee (including local improvement levies and school taxes), but does not include the mortgagee’s income tax; taxes will be deemed to be due on the day on which they are levied by the applicable authority.
This mortgage means the combination of the registered document, this set of standard mortgage terms, all schedules and addenda to the registered document; and any renewals or amendments thereto.
Your property means the land described in the registered document, all buildings and structures now on the land or later added, and anything now or later attached to or fixed to the building or the land, including additions, alterations, substitutions and improvements made to any building, structure or the land.
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