[Leasehold] Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing
(Acquisition Loan) (FL)

Summary

The [Leasehold] Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing is used in an acquisition loan transaction to secure the payment of indebtedness and obligations of borrower under the loan by granting an interest to the lender in borrower's real property located in Florida. This mortgage includes practical guidance, drafting notes, alternate clauses, and optional clauses. The mortgage will be recorded in the applicable recorder's office to provide notice to third parties of the mortgage lien on the property. This mortgage is suggested for use in Florida; however, local counsel should be engaged to ensure that all state specific requirements are met and that the mortgage complies with Florida law. This template may be used to secure borrower's leasehold interest in real property by inserting the bracketed terms throughout the mortgage. For more information on real estate financing in Florida, see Commercial Real Estate Financing (FL).