Multiple Indebtedness Mortgage Louisiana

State:
Louisiana
Control #:
LA-706-M
Format:
Word; 
Rich Text
Instant download

Description

In this document, a borrower mortgages immovable property as collateral for present and future obligations to a lender. This may be done whether those obligations are represented by paraphed promissory notes or otherwise. See La. R.C.C. Article 3298, as amended. In accordance with La R.C.C. Article 3288, an aggregate limit is indicated. As the mortgage itself does not specify the amounts, terms, maturity and conditions of default for the particular obligations contemplated, and does not contain agreements to lend, these matters must be carefully documented within additional unrecorded agreements.
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Multiple Indebtedness Mortgage Louisiana