Essex County Mortgage and Promissory Note Form (New York)

The following New York and Essex County supplemental forms are included as a courtesy with your order:

When using these Mortgage and Promissory Note forms, the subject real estate must be physically located in Essex County. The executed documents should then be recorded in the following office:

Local jurisdictions located in Essex County include:

• Bloomingdale
• Crown Point
• Elizabethtown
• Essex
• Jay
• Keene
• Keene Valley
• Lake Placid
• Lewis
• Minerva
• Mineville
• Moriah
• Moriah Center
• New Russia
• Newcomb
• North Hudson
• Olmstedville
• Paradox
• Port Henry
• Port Kent
• Ray Brook
• Schroon Lake
• Severance
• Ticonderoga
• Upper Jay
• Westport
• Willsboro
• Wilmington
• Witherbee

A mortgage is a conveyance of title to property that is given as security for a loan until the grantor (borrower) repays the lender according to terms defined in an attached promissory note. It contains a lien against the security property that ends when the debt is repaid.

Use this form for financing real property- residential, rental units, condominiums, vacant land, small commercial and planned unit developments.

Mortgage covenants

Transfer of Rights in the Property. The Mortgagor hereby mortgages to the Mortgagee the Property described in this Mortgage. Mortgagor can lose the Property for failure to keep the promises in this Mortgage.

Applicable Law. Mortgagee shall have all the rights set forth in Section 254 of the New York Real Property Law in addition to Mortgagee's rights set forth in this Mortgage, even if the rights are different from each other.

Non-Judicial Foreclosure. Mortgagee shall have the power of sale under Article 14 of the Real Property Actions and Proceedings Law, as it may be amended from time to time, and under any successor statute or statute of similar impo1t and effect which may subsequently be enacted providing for non-judicial sale of the Property, subject to the requirements and restrictions applicable to such statutory process.

Promissory Note

A promissory note is a negotiable instrument that contains an unconditional written promise, signed by the borrower, to repay the lender or its designated agent. The promissory note also defines the amount and specific terms of the loan between borrower (maker) and lender (payee/holder).
The promissory note is not recorded on its own. Instead, it is presented for recording along with its related deed of trust or mortgage.
A mortgage that includes a power of sale clause and a promissory note that includes stringent default terms can be beneficial to the lender

(New York Mortgage Package includes forms, guidelines, and completed examples) For use in New York only.

Our Promise

The documents you receive here will meet, or exceed, the Essex County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

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