Mortgage
(Acquisition Loan, Short Form) (FL)

Summary

This template is for a mortgage that may be used in an acquisition loan transaction to secure the payment of indebtedness and obligations of a borrower under a loan by granting an interest to the lender in the borrower's real property located in Florida. This template includes practical guidance, drafting notes, alternate clauses, and optional clauses. This mortgage is a short form template and should be used in a simple acquisition financing transaction. For a long form Florida mortgage template, see [Leasehold] Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing (Acquisition Loan). This mortgage should be recorded in the applicable recorder's office to provide notice to third parties of the mortgage lien on the property. For further guidance on templates for Florida mortgages and related documents, see 13-246 Southeast Transaction Guide § 246.01 et seq. This mortgage template 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.