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Mortgage Bond
MORTGAGE BOND
KNOW ALL MEN BY THESE PRESENT, that [Name of Obligor] does hereby acknowledge that Obligor is indebted to [Name of Obligee] having an office at [Address of Obligee], County of [County of Obligee], State of [State of Obligee], in the principal sum of $ [Amount of principal sum] dollars, which sum with interest on the unpaid balances to be computed from the date hereof at the rate of [percent per annum] % percent per annum, Obligor does covenant to pay to Obligee, at the office of Obligee in [Office of Obligee], or such other place as Obligee may designate in writing, $ [Initial payment] dollars on [Date of Initial payment], and thereafter in payments of $ [Amount of installment] dollars on the first day of each subsequent month, until the principal and interest are fully paid, except that the final payment of the entire indebtedness evidenced hereby, shall be due and payable on [Date of final payment]. The whole or any part of the principal sum and of any other sums of money secured by the mortgage given to secure this Bond shall, at the option of Obligee, become due and payable if default be made in any payment under this Bond or upon the happening of any default that, by the terms of the mortgage given to secure this Bond, shall entitle the mortgagee to declare the principal sum, or any part thereof, to be due and payable; and all the covenants, agreements, terms, and conditions of the mortgage are incorporated in this Bond with the same force and effect as if set forth at length. If more than one person joins in the execution of this Bond, the relative words herein shall be read as if written in the plural, and the words "Obligor" and "Obligee" shall include their heirs, executors, administrators, successors and assigns.
Signed this [Date of agreement].
Obligor