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All Somerset County specific forms and documents listed below are included in your immediate download package:
The Following New Jersey and Somerset County supplemental forms are included as a courtesy with your order.
County Cover Sheet (Somerset County Document)
Nonresident Seller Tax Declaration GIT/REP-1 (Somerset County Document)
Affidavit of Consideration for Seller / RTF-1 (Somerset County Document)
Certificate of Acknowledgment (Somerset County Document)
Resident Decedent Estate Tax Return (Somerset County Document)
Nonresident Seller Tax Prepayment Receipt GIT/REP-2 (Somerset County Document)
Affidavit of Consideration for Buyer / RTF-1EE (Somerset County Document)
Jurat (Somerset County Document)
Affidavit of Resident Decedent Requesting Real Property Tax Waiver / L-9 (Somerset County Document)
Seller Residency Certification/Exemption GIT/REP-3 (Somerset County Document)
Waiver of Seller Filing Requirement GIT/REP-4 (Somerset County Document)
Waiver for Corrected Deed GIT/REP-4a (Somerset County Document)
Seller Tax Form FAQs (Somerset County Document)
Affidavit of Consideration for Buyer / RTF-1EE (New Jersey Document)
Affidavit of Consideration for Seller / RTF-1 (New Jersey Document)
Seller Tax Form FAQs (New Jersey Document)
Waiver of Seller’s Filing Requirement of GIT/REP Forms and Payment GIT/REP-4 (New Jersey Document)
Affidavit of Resident Decedent Requesting Real Property Tax Waiver / L-9 (New Jersey Document)
Waiver for Corrected Deed GIT/REP-4a (New Jersey Document)
Resident Decedent Estate Tax Return (New Jersey Document)
Certificate of Acknowledgment (New Jersey Document)
Jurat (New Jersey Document)
Including:
This Mortgage and Promissory Note have stringent default provisions that are typically suited for owner financing or private lender when financing residential property, small commercial property, rental property (up to 4 units), Condominiums, planned unit developments and vacant land.
DEFAULT. The Lender may declare that Borrower is in default on the Note and this Mortgage if:
(a) Borrower fails to make any payment required by the Note and this Mortgage within fifteen (15) days after its due date;
(b) Borrower fails to keep any other promise in this Mortgage;
(c) The ownership of the Property is changed for any reason;
(d) The holder of any lien on the Property starts foreclosure proceedings;
(e) Bankruptcy, insolvency or receivership proceedings are started by or against Borrower; or
(f) Borrower defaults with respect to any other loan from Lender to an affiliate of Borrower.
PAYMENTS DUE UPON DEFAULT. If the Lender declares that Borrower is in default, Borrower must immediately pay the full amount of all unpaid principal, interest, other amounts due on the Note and this Mortgage and the Lender's costs of collection and reasonable attorney fees.
The Promissory Note can be used for installment or balloon payments. Includes default rates (interest rate that occurs when borrower is in default)
In addition to any other remedies available to Lender if this Note is not paid in full at the Maturity Date, Borrowers shall pay to Lender an Overdue Loan Fee, which fee shall be due at the time this Note is otherwise paid in full. The "Overdue Loan Fee" shall be determined based upon the outstanding principal balance of this Note as of the Maturity Date and shall be:
(a)one percent (1.0%) Of such principal balance if the Note is paid in full on or after thirty(30)days after the Maturity Date but less than sixty (60) days after the Maturity Date, or
(b)two percent (2.0%) of such principal balance if the Note is paid in full on or after sixty(60)days after the Maturity Date.
Late Payment Fees. Any payment which is at least ___ days past due, shall be subject to a late charge of $___ And an additional $___ per day until the payment is received. If any balloon payment is late, it shall be subject to a late fee of $___ per day.
For use in New Jersey only.
The documents you receive here will meet, or exceed, the Somerset County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.
Get your Somerset County Mortgage Secured and Promissory Note form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.
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