NOTE
US $ ..............................
............................., Massachusetts
City
..................................., 19 ......
Any notice to Borrower provided for in this Note shall be given by mailing such notice
by certified mail addressed to Borrower at the Property Address stated below, or to such
other address as Borrower may designate by notice to the Note holder. Any notice to the
Note holder shall be given by mailing such notice by certified mail, return receipt
requested, to the Note holder at the address stated in the first paragraph of this Note, or at
such other address as may have been designated by notice to Borrower.
The indebtedness evidenced by this Note is secured by a Mortgage, dated
.........................................., and reference is made to the Mortgage for rights as to
acceleration of the indebtedness evidenced by this Note.
..................................................
..................................................
.................................................
..................................................
Property Address
.................................................
(Execute Original Only)
by Lender at the time of application as a credit against the sums secured by this
Mortgage.
3. Application of Payments. Unless applicable law provides otherwise, all payments
received by Lender under the Note and paragraphs I and 2 hereof shall be applied by
Lender first in payment of amounts payable to Lender by Borrower under paragraph 2
hereof, then to interest payable on the Note, then to the principal of the Note, and then to
interest and principal on any Future Advances.
4. Charges; Liens. Borrower shall pay all taxes assessments and other charges. fines
and impositions attributable to the Property which may attain a priority over this
Mortgage, and leasehold payments or ground rents, if any, in the manner provided under
paragraph 2 hereof or, if not paid in such manner, by Borrower making payment, when
due, directly to the payee thereof. Borrower shall promptly furnish to Lender all notices
of amounts due under this paragraph, and in the event Borrower shall make payment
directly, Borrower shall promptly furnish to Lender receipts evidencing such payments.
Borrower shall promptly discharge any lien which has priority over this Mortgage;
provided, that Borrower shall not be required to discharge any such lien so long as
Borrower shall agree in writing to the payment of the obligation secured by such lien in a
manner acceptable to Lender, or shall in good faith contest such lien by, or defend
enforcement of such lien in, legal proceedings which operate to prevent the enforcement
of the lien or forfeiture of the Property or any part thereof.
5. Hazard Insurance. Borrower shall keep the improvements now existing or hereafter
erected on the Property insured against loss by fire, hazards included within the term
"extended coverage", and such other hazards as Lender may require and in such amounts
and for such periods as Lender may require; provided, that Lender shall not require that
the amount of such coverage exceed that amount of coverage required to pay the sums
secured by this Mortgage.
The insurance carrier providing the insurance shall be chosen by Borrower subject to
approval by Lender; provided, that such approval shall not be unreasonably withheld. All
premiums on insurance policies shall be paid in the manner provided under paragraph 2
hereof or, if not paid in such manner, by Borrower making payment, when due, directly
to the insurance carrier.
All insurance policies and renewals thereof shall be in form acceptable to Lender and
shall include a standard mortgage clause in favor of and in form acceptable to Lender.
Lender shall have the right to hold the policies and renewals thereof, and Borrower shall
promptly furnish to Lender all renewal notices and all receipts of paid premiums. In the
event of loss, Borrower shall give prompt notice to the insurance carrier and Lender.
Lender may make proof of loss if not made promptly by Borrower.
Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be
applied to restoration or repair of the Property damaged, provided such restoration or
repair is economically feasible and the security of this Mortgage is not thereby impaired.
Any amounts disbursed by Lender pursuant to this paragraph 7, with interest thereon.
shall become additional indebtedness of Borrower secured by this Mortgage. Unless
Borrower and Lender agree to other terms of payment, such amounts shall be payable
upon notice from Lender to Borrower requesting payment thereof. and shall bear interest
from the date of disbursement at the rate payable from time to time on outstanding
principal under the Note unless payment of interest at such rate would be contrary to
applicable law, in which event such amounts shall bear interest at the highest rate
permissible under applicable law. Nothing contained in this paragraph 7 shall require
Lender to incur any expense or take any action hereunder.
8. Inspection. Lender may make or cause to be made reasonable entries upon and
inspections of the Property, provided that Lender shall give Borrower notice prior to any
such inspection specifying reasonable cause therefor related to Lender's interest in the
Property.
9. Condemnation. The proceeds of any award or claim for damages, direct or
consequential. in connection with any condemnation or other taking of the Property, or
part thereof. or for conveyance in lieu of condemnation. are hereby assigned and shall be
paid to Lender.
In the event of a total taking of the Property. the proceeds shall be applied to the sums
secured by this Mortgage. With the excess. if any, paid to Borrower. In the event of a
partial taking of the Property, unless Borrower and Lender otherwise agree in writing.
there shall be applied to the sums secured by this Mortgage such proportion of the
proceeds as is equal to that proportion which the amount of the sums secured by this
Mortgage immediately prior to the date of taking bears to the fair market value of the
Property immediately prior to the date of taking. with the balance of the proceeds paid to
Borrower.
If the Property is abandoned by Borrower. or if. after notice by Lender to Borrower that
the condemnor offers to make an award or settle a claim for damages. Borrower fails to
respond to Lender within 30 days after the date such notice is mailed. Lender is
authorized to collect and apply the proceeds. at Lender's option. either to restoration or
repair of the Property or to the sums secured by this Mortgage.
Unless Lender and Borrower otherwise agree in writing. any such application of
proceeds to principal shall not extend or postpone the due date of the monthly
installments referred to in paragraphs 1 and 2 hereof or change the amount of such
installments.
10. Borrower Not Released. Extension of the time for payment or modification of
amortization of the sums secured by this Mortgage granted by Lender to any successor in
interest of Borrower shall not operate to release. in any manner, the liability of the
original Borrower and Borrower's successors in interest. Lender shall not be required to
commence proceedings against such successor or refuse to extend time for payment or
otherwise modify amortization of the sums secured by this Mortgage by reason of any
demand made by the original Borrower and Borrower's successors in interest.
devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of
any leasehold interest of three years or less not containing an option to purchase, Lender
may, at Lender's option, declare all the sums secured by this Mortgage to be immediately
due and payable. Lender shall have waived such option to accelerate if, prior to the sale
or transfer. Lender and the person to whom the Property is to be sold or transferred reach
agreement in writing that the credit of such person is satisfactory to Lender and that the
interest payable on the sums secured by this Mortgage shall be at such rate as Lender
shall request. If Lender has waived the option to accelerate provided in this paragraph 17,
and if Borrower's successor in interest has executed a written assumption agreement
accepted in writing by Lender, Lender shall release Borrower from all obligations under
this Mortgage and the Note.
If Lender exercises such option to accelerate, Lender shall mail Borrower notice of
acceleration in accordance with paragraph 14 hereof. Such notice shall provide a period
of not less than 30 days from the date the notice is mailed within which Borrower may
pay the sums declared due. If Borrower fails to pay such sums prior to the expiration of
such period, Lender may, without further notice or demand on Borrower, invoke any
remedies permitted by paragraph 18 hereof.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as
follows:
18. Acceleration; Remedies. Except as provided in paragraph 17 hereof, upon
Borrower's breach of any covenant or agreement of Borrower in this Mortgage, including
the covenants to pay when due any sums secured by this Mortgage, Lender prior to
acceleration shall mail notice to Borrower as provided in paragraph 14 hereof specifying:
(1) the breach; (2) the action required to cure such breach; (3) a date, not less than 30
days from the date the notice is mailed to Borrower, by which such breach must be cured;
and (4) that failure to cure such breach on or before the date specified in the notice may
result in acceleration of the sums secured by this Mortgage and sale of the Property. The
notice shall further inform Borrower of the right to reinstate after acceleration and the
right to bring a court action to assert the non-existence of a default or any other defense
of Borrower to acceleration and sale. If the breach is not cured on or before the date
specified in the notice, Lender at Lender's option may declare all of the sums secured by
this Mortgage to be immediately due and payable without further demand and Lender
may invoke the STATUTORY POWER OF SALE and any other remedies permitted by
applicable law. Lender shall be entitled to collect all reasonable costs and expenses
incurred in pursuing the remedies provided in this paragraph 18, including, but not
limited to, reasonable attorney's fees.
If Lender invokes the STATUTORY POWER OF SALE, Lender shall mail a copy of a
notice of sale to Borrower, and to any other person required by applicable law, in the
manner provided by applicable law. Lender shall publish the notice of sale and the
Property shall be sold in the manner prescribed by applicable law. Lender or Lender's
designee may purchase the Property at any sale. The proceeds of the sale shall be applied
in the following order: (a) to all reasonable costs and expenses of the sale, including
reasonable attorney's fees and costs of title evidence; (b) to all sums secured by this
Mortgage; and (c) the excess, if any, to the person or persons legally entitled thereto.
19. Borrower's Right to Reinstate. Notwithstanding Lender's acceleration of the sums
secured by this Mortgage, Borrower shall have the right to have any proceedings begun
by Lender to enforce this Mortgage discontinued at any time prior to the earlier to occur
of (i) the fifth day before sale of the Property pursuant to the power of sale contained in
this Mortgage or (ii) entry of a judgment enforcing this Mortgage if: (a) Borrower pays
Lender all sums which would be then due under this Mortgage, the Note and notes
securing Future Advances, if any, had no acceleration occurred; (b) Borrower cures all
breaches of any other covenants or agreements of Borrower contained in this Mortgage;
(c) Borrower pays all reasonable expenses incurred by Lender in enforcing the covenants
and agreements of Borrower contained in this Mortgage and in enforcing Lender's
remedies as provided in paragraph 18 hereof, including, but not limited to, reasonable
attorney's fees; and (d) Borrower takes such action as Lender may reasonably require to
assure that the lien of this Mortgage, Lender's interest in the Property and Borrower's
obligation to pay the sums secured by this Mortgage shall continue unimpaired. Upon
such payment and cure by Borrower, this Mortgage and the obligations secured hereby
shall remain in full force and effect as if no acceleration had occurred.
20. Assignment of Rents; Lender in Possession. As additional security hereunder,
Borrower hereby assigns to Lender the rents of the Property, provided that Borrower
shall, prior to acceleration under paragraph 18 hereof or abandonment of the Property,
have the right to collect and retain such rents as they become due and payable.
Upon acceleration under paragraph 18 hereof or abandonment of the Property, Lender
shall be entitled to enter upon, take possession of and manage the Property and to collect
the rents of the Property including those past due. All rents collected by Lender shall be
applied first to payment of the costs of management of the Property and collection of
rents, including, but not limited to, reasonable attorney's fees, and then to the sums
secured by this Mortgage. Lender shall be liable to account only for those rents actually
received.
21. Future Advances. For the purposes permitted by applicable law and upon request
of Borrower, Lender, at Lender's option prior to release of this Mortgage, may make
Future Advances to Borrower. Such Future Advances, with interest thereon, shall be
secured by this Mortgage when evidenced by promissory notes stating that said notes are
secured hereby. At no time shall the principal amount of the indebtedness secured by this
Mortgage, not including sums advanced in accordance herewith to protect the security of
this Mortgage, exceed the original amount of the Note plus US
$.................................................................................................
22. Release. Upon payment of all sums secured by this Mortgage, Lender shall
discharge this Mortgage without cost to Borrower. Borrower shall pay all costs of
recordation, if any.
.....................................................
-Borrower
.....................................................
-Borrower
to
dated
Book
Deeds,
holder,
(If by assignment, or in any fiduciary capacity, give reference)
for breach of the conditions of said mortgage and for the purpose of foreclosing the same
will be sold at
Public Auction at
o'clock
day of
A. D. 19
M on the
,
(Place)
Signed ............................................................
...............................19
...........................................................
Present holder of said mortgage
SAMPLE LEASE
BASIC RENTAL AGREEMENT AND/OR LEASE
This Rental Agreement and/or Lease shall evidence the complete terms and conditions
under which the parties whose signatures appear below have agreed.
Landlord/Lessor/Agent, _____________________________, shall be referred to as
"OWNER" and Tenant(s)/Lessee, _____________________________, shall be referred
to as "RESIDENT." As consideration for this agreement, OWNER agrees to rent/lease to
RESIDENT and RESIDENT agrees to rent/lease from OWNER for use solely as a
private residence, the premises located at
_____________________________________________in the city of
__________________________________.
1. TERMS: RESIDENT agrees to pay in advance $______ per month on the ____ day of
each month. This agreement shall commence on _____,___ and continue; (check one)
A.__ until _______, ___ as a leasehold. Thereafter it shall become a month-to-month
tenancy. If RESIDENT should move from the premises prior to the expiration of this
time period, he shall be liable for all rent due until such time that the Residence is
occupied by an OWNER approved paying RESIDENT and/or expiration of said time
period, whichever is shorter.
B.__ until ____________, ______ on a month-to-month tenancy until either party shall
terminate this agreement by giving a written notice of intention to terminate at least 30
days prior to the date of termination.
2. PAYMENTS: Rent and/or other charges are to be paid at such place or method
designated by the owner as follows _____________________________________. All
payments are to be made by check or money order and cash shall be acceptable. OWNER
acknowledges receipt of the First Month's rent of $__________, and a Security Deposit
of $__________, and additional charges/fees for ______________________________,
for a total payment of $__________. All payments are to be made payable to
__________________________________.
3. SECURITY DEPOSITS: The total of the above deposits shall secure compliance with
the terms and conditions of this agreement and shall be refunded to RESIDENT within
_____ days after the premises have been completely vacated less any amount necessary
to pay OWNER; a) any unpaid rent, b) cleaning costs, c) key replacement costs, d) cost
for repair of damages to premises and/or common areas above ordinary wear and tear,
and e) any other amount legally allowable under the terms of this agreement. A written
accounting of said charges shall be presented to RESIDENT within _____ days of moveout. If deposits no not cover such costs and damages, the RESIDENT shall immediately
pay said additional costs for damages to OWNER.
4. LATE CHARGE: A late fee of $_____, (not to exceed ___% of the monthly rent),
shall be added and due for any payment of rent made after the ____________ of the
month. Any dishonored check shall be treated as unpaid rent, and subject to an additional
fee of $_________.
5. UTILITIES: RESIDENT agrees to pay all utilities and/or services based upon
occupancy of the premises except ____________________________________.
6. OCCUPANTS: Guest(s) staying over 15 days without the written consent of OWNER
shall be considered a breach of this agreement. ONLY the following individuals and/or
animals, AND NO OTHERS shall occupy the subject residence for more than 15 days
unless the expressed written consent of OWNER obtained in advance
__________________________________________________.
7. PETS: No animal, fowl, fish, reptile, and/or pet of any kind shall be kept on or about
the premises, for any amount of time, without obtaining the prior written consent and
meeting the requirements of the OWNER. Such consent if granted, shall be revocable at
OWNER'S option upon giving a 30 day written notice. In the event laws are passed or
permission is granted to have a pet and/or animal of any kind, an additional deposit in the
amount of $_________ shall be required along with additional monthly rent of $_______
along with the signing of OWNER'S Pet Agreement. RESIDENT also agrees to carry
insurance deemed appropriate by OWNER to cover possible liability and damages that
may be caused by such animals.
8. LIQUID FILLED FURNISHINGS: No liquid filled furniture, receptacle containing
more than ten gallons of liquid is permitted without prior written consent and meeting the
requirements of the OWNER. RESIDENT also agrees to carry insurance deemed
appropriate by OWNER to cover possible losses that may be caused by such items.
9. PARKING: When and if RESIDENT is assigned a parking area/space on OWNER'S
property, the parking area/space shall be used exclusively for parking of passenger
automobiles and/or those approved vehicles listed on RESIDENT'S Application attached
hereto. RESIDENT is hereby assigned or permitted to park only in the following area or
space ____________________________. The parking fee for this space (if applicable is
$________ monthly. Said space shall not be used for the washing, painting, or repair of
vehicles. No other parking space shall be used by RESIDENT or RESIDENT'S guest(s).
RESIDENT is responsible for oil leaks and other vehicle discharges for which
RESIDENT shall be charged for cleaning if deemed necessary by OWNER.
10. NOISE: RESIDENT agrees not to cause or allow any noise or activity on the
premises which might disturb the peace and quiet of another RESIDENT and/or
neighbor. Said noise and/or activity shall be a breach of this agreement.
11. DESTRUCTION OF PREMISES: If the premises become totally or partially
destroyed during the term of this Agreement so that RESIDENT'S use is seriously
impaired, OWNER or RESIDENT may terminate this Agreement immediately upon
three day written notice to the other.
12. CONDITION OF PREMISES: RESIDENT acknowledges that he has examined the
premises and that said premises, all furnishings, fixtures, furniture, plumbing, heating,
electrical facilities, all items listed on the attached property condition checklist, if any,
and/or all other items provided by OWNER are all clean, and in good satisfactory
condition except as may be indicated elsewhere in this Agreement. RESIDENT agrees to
keep the premises and all items in good order and good condition and to immediately pay
for costs to repair and/or replace any portion of the above damaged by RESIDENT, his
guests and/or invitees, except as provided by law. At the termination of this Agreement,
all of above items in this provision shall be returned to OWNER in clean and good
condition except for reasonable wear and tear and the premises shall be free of all
personal property and trash not belonging to OWNER. It is agreed that all dirt, holes,
tears, burns, and stains of any size or amount in the carpets, drapes, walls, fixtures, and/or
any other part of the premises, do not constitute reasonable wear and tear.
13. ALTERATIONS: RESIDENT shall not paint, wallpaper, alter or redecorate, change
or install locks, install antenna or other equipment, screws, fastening devices, large nails,
or adhesive materials, place signs, displays, or other exhibits, on or in any portion of the
premises without the written consent of the OWNER except as may be provided by law.
14: PROPERTY MAINTENANCE: RESIDENT shall deposit all garbage and waste in a
clean and sanitary manner into the proper receptacles and shall cooperate in keeping the
garbage area neat and clean. RESIDENT shall be responsible for disposing of items of
such size and nature as are not normally acceptable by the garbage hauler. RESIDENT
shall be responsible for keeping the kitchen and bathroom drains free of things that may
tend to cause clogging of the drains. RESIDENT shall pay for the cleaning out of any
plumbing fixture that may need to be cleared of stoppage and for the expense or damage
caused by stopping of waste pipes or overflow from bathtubs, wash basins, or sinks.
15. HOUSE RULES: RESIDENT shall comply with all house rules as stated on separate
addendum, but which are deemed part of this rental agreement, and a violation of any of
the house rules is considered a breach of this agreement.
16. CHANGE OF TERMS: The terms and conditions of this agreement are subject to
future change by OWNER after the expiration of the agreed lease period upon 30-day
written notice setting forth such change and delivered to RESIDENT. Any changes are
subject to laws in existence at the time of the Notice of Change Of Terms.
17. TERMINATION: After expiration of the leasing period, this agreement is
automatically renewed from month to month, but may be terminated by either party
giving to the other a 30-day written notice of intention to terminate. Where laws require
"just cause", such just cause shall be so stated on said notice. The premises shall be
considered vacated only after all areas including storage areas are clear of all
RESIDENT'S belongings, and keys and other property furnished for RESIDENT'S use
are returned to OWNER. Should the RESIDENT hold over beyond the termination date
or fail to vacate all possessions on or before the termination date, RESIDENT shall be
liable for additional rent and damages which may include damages due to OWNER'S loss
of prospective new renters.
submitted/reported to a credit and/or tenant reporting agency, and may create a negative
credit record on your credit report.
26. LEAD NOTIFICATION REQUIREMENT: For rental dwellings built before 1978,
RESIDENT acknowledges receipt of the following: (Please check)
___ Lead Based Paint Disclosure Form
___ EPA Pamphlet
27. ADDITIONS AND/OR EXCEPTIONS
_______________________________________________________________
_______________________________________________________________.
28. NOTICES: All notices to RESIDENT shall be served at RESIDENT'S premises and
all notices to OWNER shall be served at
_______________________________________________________________.
29. INVENTORY: The premises contains the following items, that the RESIDENT may
use. _______________________________________________________________.
30. KEYS AND ADDDENDUMS: RESIDENT acknowledges receipt of the following
which shall be deemed part of this Agreement: (Please check)
___ Keys #of keys and purposes ___________________________________________
___ House Rules ___ Pet Agreement ___ Other ________________________________
31. ENTIRE AGREEMENT: This Agreement constitutes the entire Agreement between
OWNER and RESIDENT. No oral agreements have been entered into, and all
modifications or notices shall be in writing to be valid.
32. RECEIPT OF AGREEMENT: The undersigned RESIDENTS have read and
understand this Agreement and hereby acknowledge receipt of a copy of this Rental
Agreement.
RESIDENT'S Signature ___________________________________________________
Date__________________
RESIDENT'S Signature ___________________________________________________
Date__________________
OWNER'S or Agent's Signature ____________________________________________
Date__________________