Otero County Mortgage Secured by Promissory Note Form

Additional New Mexico and Otero County documents included at no extra charge:

Where to Record Your Documents

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Cities and Jurisdictions in Otero County

Properties in any of these areas use Otero County forms:

• Alamogordo
• Bent
• Cloudcroft
• High Rolls Mountain Park
• Holloman Air Force Base
• La Luz
• Mayhill
• Mescalero
• Orogrande
• Pinon
• Sacramento
• Sunspot
• Timberon
• Tularosa
• Weed

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Use this form for financing residential property, small commercial, rental property (up to 4 units), condominiums and planned unit developments. This is a comprehensive 12-page form that has stringent default terms.

Use this form for financing residential property, small commercial, rental property (up to 4 units), condominiums and planned unit developments. This is a comprehensive 12-page form that has stringent default terms.

Promissory Note includes late charges. 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.

Default Rate: I payment is/are at least 30 days past due, then the principal balance shall bear interest at default rate of (____%) over the interest rate stated. Said default rate shall begin on the ____ day following the due date of the payment(s) until payment(s) is/are brought
current. Payment(s) is/are first applied to accrued interest and penalties, then to principal.

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.

This Note and the Loan Documents shall be governed by the State of New Mexico.

(New Mexico Mortgage Package includes forms, guidelines, and completed examples)

Important: Your property must be located in Otero County to use these forms. Documents should be recorded at the county recording office listed above.

This Mortgage Secured by Promissory Note meets all recording requirements specific to Otero County.

Our Promise

The documents you receive here are guaranteed to meet or exceed the applicable Otero County recording format requirements. If there is a rejection caused by our formatting, we will correct the issue or refund your payment. This guarantee applies to document formatting only and does not extend to information entered by the user, the selection of the form, or the legal effect of the completed document.

Save Time and Money

Get your Otero County Mortgage Secured by 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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