Tianjin Personal Housing Provident Fund(combination)
Mortgage Contract
Contract number:
Lender(Party A):China Construction Bank,
Address:
Legal representative;
Post code:
Contact number:
Borrower(Party B):
Address:
Post code:
Contact number:
Personal Housing Provident Fund(combination)
Mortgage Contract
Lender:(Party A)China Construction Bank,
Borrower:(Party B)
In order to ensure performance of the Loan Contract signed on2002,between China Construction Bank Tianjin Nankai Branch and,Party B is willing to provide its own property as mortgage property.According to the Guarantee Law of PRC,Tianjin Personal housing Provident fund loan Management,China Construction Bank Personal housing loan Measurements,Tianjin Personal housing Guarantees Measurements,and relevant laws,rules, and regulations,Party A and B sign this contract,to specify the rights and obligations of parties involved and comply with the following articles.
Article1.borrows from Party A RMB Yuan,for purchasing the house located in,including house provident fund loan RMB(in capital)Yuan, with monthly interest rate3.375‰;and bank commercial mortgage loan RMB(in capital) Yuan,with monthly interest rate4.2‰.The period of loan starts from to.
Article2.Party B uses its house located in,which is in accordance with the Guarantee Law of PRC and Tianjin Personal housing Provident fund loan Management and approved by Party A,as mortgage property,and handle mortgage registration process in registration authority.Party A keeps the ownership certificate or other rights of building. (mortgage property list is attached)
On November1,2002,mortgage house was appraised by real estate appraising institute and approved by loan bank.The estimated value was RMB Yuan,the mortgage rate was69.78%.
Article3.The scope of the mortgage guarantee includes the loan Yuan,interest,and expenses of realizing mortgage right.
Article4.Borrower purchases house insurance for mortgage house and sets Party A as the first priority beneficiary.The starting day of insurance cannot be later than the day of contact effectiveness,and the ending day cannot be earlier than the day of contract termination.
During the mortgage period,Party B cannot cancel the insurance arbitrarily.The house insurance policy is kept by Party A.
Article5.Party B uses and safe keeps the mortgage house.During the mortgage period, Party B has the responsibility to repair,maintain and keep the house complete,and should be ready to accept Party A’s reasonable check.
During the insurance period,if mortgage property is damaged,Party B shall inform Party A. In case that insurer takes liability of compensation,Party A receives compensation as the first priority beneficiary and treats the compensation as repayment by the borrower.In case that Party B takes liability of compensation,borrower has the obligation to provide new mortgage property which is accordance with regulations in this contract,or repay corresponding loan principal, interest,and other expenses that borrower shall pay to Party A.
Article6.During the mortgage period,if Party B transfers mortgage property,it shall inform Party A and get approval in written form.The transfer proceeds shall be used to liquid guaranteed creditor rights.
Article7.If any following condition occurs,Party A has the right to dispose mortgage property.The proceeds will be used to repay the debt regulated in article3.
(1).Borrower fails to repay the loan principal and interests within three months after the loan due day;
(2).During the loan period,Borrower fails to repay the loan principal and interest in consecutive six months;
(3).Before the contract expiring,Borrower loses work capacity,dies,be missing,or immigrates abroad,and its custodian,heir,donee,or property keeper refuses to repay the loan;
(4).Borrowerfails to handle the guarantee process according to the contract;