Gold coast chapter 12 questions with correct answers

the instrument that contains the amount of the loan, interest rate, payment provisions, and other terms of the loan is the blank blank - Answer Promissory note A mortgage is a blank blank blank - Answer Pledge of security the clause in a mortgage that protects the borrowers interest and requires the lender to acknowledge performance by the borrower is the blank clause - Answer Defeasance The clause that allows a parcel of property to be sold free and clear of a blanket mortgage is the blank clause - Answer Release a blank blank is a written agreement in which a lender agrees with the property owner to change the priorities of liens - Answer Subordination agreement if a borrower was in default, and the lender wish to call the entire balance of the loan due and payable, the mortgage would have to contain a blank clause - Answer Acceleration If a buyer where to take over the balance of an existing mortgage in such a way that the seller remain solely responsible for a deficiency judgment, the property was sold blank blank blank blank - Answer Subject to the mortgage when A lender allows a new borrower to take responsibility for a mortgage and note, and releases the original borrower from a liability for the mortgage and note, the process is called blank blank blank - Answer Assumption