Fillable Printable Mortgage Splitter Agreement
Fillable Printable Mortgage Splitter Agreement
Mortgage Splitter Agreement
MORTGAGE SPLITTER AGREEMENT
AGREEMENT made this day of , 20 , by and between , with an address of
( a domestic corporation organized and existing under the laws of the State of New York
having an office at ) (hereinafter “Mortgagor”), and , a bank organized and existing
under the laws of the State of New York and having a principal place of business at
(hereinafter “Mortgagee”).
WHEREAS, the Mortgagee is the holder of a certain Note dated executed by in the
sum of $ the “Note”) secured by the Mortgage(s) described on Schedule A hereto (the
“Mortgage”), upon which Mortgage there is now due and owing the principal sum of $ , with
interest thereon pursuant to said Note; and
WHEREAS, the Mortgagor is desirous of severing, splitting and dividing the lien of the Mortgage
so as to constitute separate liens, as set forth on Schedule B hereto; and
WHEREAS, Mortgagee hereby consents to the severing, splitting and dividing of the lien of the
mortgage upon the terms, conditions and provisions set forth herein.
NOW, THEREFORE, in consideration of the representations, warranties, covenants and
agreements of the Mortgagor herein contained, and the mutual promises of the parties hereto, and
for other good and valuable consideration, the adequacy and receipt of which is hereby
acknowledged, it is agreed as follows:
1. The aforesaid Mortgage, now a lien on Parcels A, B , be and the same is hereby
severed, split and divided so that the same shall hereafter constitute but one first
mortgage lien securing the principal sum of $ and interest upon Parcel A only; one
first mortgage lien securing the principal sum of $ and interest upon Parcel B only;
(add statement for each additional Parcel).
2. In consideration of the severing, splitting and division of the Mortgage as herein
provided, the Mortgagor does hereby represent, warrant, covenant and agree as
follows:
a) Mortgage A is a valid first lien on Parcel A, for the full amount of principal in the sum
of $ and interest thereon, and that there are no offsets and/or defenses to said
Mortgage A and the Note or other obligations it secures;
b) Mortgage B is a valid first lien on Parcel B, for the full amount of principal in the sum
of $ and interest thereon, and that there are no offsets and/or defenses to said
Mortgage B and the Note or other obligations it secures;
c) (Continue for each additional Parcel)
d) That all the terms, conditions and/or provisions of said Notes and mortgages, except
as herein modified and amended, shall remain in full force and effect and shall be
binding until further modified by subsequent agreement between Mortgagor and
Mortgagee.
IN WITNESS WHEREOF, the Mortgagor and Mortgagee have caused this instrument to be duly
executed as of the day and year first above written.
MORTGAGOR MORTGAGEE
__________________________________ __________________________________
By: ______________________________ By: ______________________________
(Name and Title) (Name and Title)
ACKNOWLEDGEMENTS
Acknowledgement taken in New York State
STATE OF NEW YORK
COUNTY OF , ss:
On the day of , in the year 20 , before me the undersigned, personally appeared
personally known to me or proved to me on the basis of satisfactory evidence, to be the individual(s) whose name(s)
is (are) subscribed to the within instrument and acknowledged to me that (he) (she) (they) executed the same in (his)
(her) (their) capacity(y)(ies), and that by (his) (her) (their) signature(s) on the instrument, the individual(s) or the
person upon behalf of which the individual(s) acted, executed the instrument.
_______________________________
Notary Public
Acknowledgement taken outside New York State
*STATE OF
COUNTY OF , ss:
* (or insert District of Columbia, Territory, Possession or Foreign Country)
On the day of , in the year 20 , before me the undersigned, personally appeared
personally known to me or proved to me on the basis of satisfactory evidence, to be the individual(s) whose name(s)
is (are) subscribed to the within instrument and acknowledged to me that (he) (she) (they) executed the same in (his)
(her) (their) capacity(y)(ies), and that by (his) (her) (their) signature(s) on the instrument, the individual(s) or the
person upon behalf of which the individual(s) acted, executed the instrument, and that such individual(s) made such
appearance before the undersigned in the
(add the city or political subdivision and the state or country or other place the acknowledgment
was taken).
_______________________________
Notary Public
Acknowledgement by Subscribing Witness taken in New York State
STATE OF NEW YORK
COUNTY OF , ss:
On the day of , in the year 20 , before me the undersigned, personally appeared the
subscribing witness to the foregoing instrument, with whom I am personally acquainted, who being by me duly sworn,
did depose and say, that (he) (she) (they) reside(s) in ; that (he) (she) (they) know(s) to be the individual
described in and who executed the foregoing instrument; that said subscribing witness was present and saw said
execute the same; and that said witness at the same time subscribed (his) (her) (their) name(s) as a witness
thereto.
_______________________________
Notary Public
SCHEDULE A
SCHEDULE OF MORTGAGES
SCHEDULE B
SCHEDULE OF SEVERED MORTGAGES
