Notes On The Deed Of Release Essay

962 WordsMay 18, 20164 Pages
DEED OF RELEASE This Deed of Release is dated ___________ 2016 and is made Between: 1) RAMS Mortgage Corporation Limited ABN 48 065 912 932 (the Lender) 2) Paul James Buckley and Vicki Lynne Buckley (the Continuing Borrower) 3) Earl Keith Howard (deceased) and Lynette Carole Howard (beneficiary of the deceased estate (the Released Borrower) Background: A. The Continuing Borrower and the Released Borrower enter into this deed in connection with the Loan Agreement. B. For the consideration separately agreed to between the parties, the Lender agrees, on the terms set out in this deed, to enter into this deed and discharge the Released Mortgage. It is agreed as follows: 1. Interpretation 1.1. Definitions In this deed, words and phrases defined in the Loan Agreement have the same meaning when used in this deed unless otherwise defined in this deed, and: Continuing Mortgage means registered mortgage AC42882 over 23 Kurrawa Crescent, Koonawarra NSW 2530, granted by the Continuing Borrower (who are joint tenants) as mortgagor to the Lender as mortgagee. Loan Agreement means the agreement between the Lender, the Continuing Borrower and the Released Borrower titled “RAMS Low Doc Home Loan Agreement Details” dated on or around 29 November 2005 (which incorporates the Home Loan Agreement General Terms dated 1 March 2005), secured by the Continuing Mortgage and the Released Mortgage. Release Date means the date on which all of the conditions precedent in Clause 2.1 are
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