Delaware Mortgage Secured and Promissory Note

This Mortgage secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 6 to protect the security of this Mortgage, and (c) the performance of Borrower' covenants and agreements under this Mortgage and the Note. (d) This Mortgage shall secure not only the existing indebtedness at any given time, but shall also secure future advances, which may under the above referenced obligation be made at the option of the Mortgagee, to the same extent as if other future advances were made on the date of the execution of this Mortgage, pursuant to 25 Del. C. Section 2118, as the same hereafter may be amended. For this purpose, Borrower does hereby mortgage, grant and convey to Lender the following described property located in Sussex County.

Governing Law. This Mortgage shall be governed by the Federal Law applicable to Lender, and to the extent not preempted by Federal Laws, the laws of the State of Delaware without regard to its conflicts of law provisions. This Mortgage has been accepted by Lender in the State of Delaware.

Waiver of Jury Trial: All parties to this Mortgage hereby waive the right to any jury trial in any action, proceeding or counterclaim brought by any party against any other party.

Typical uses include residential property, condominiums, rental property, small commercial, vacant land and planned unit developments. Delaware has three counties; each one has different recording requirements.


For use in Delaware only.