Deed of Release of part of lands comprised in a mortgage

THIS DEED of Release made at _______ this ________ day of _______ 20____

BETWEEN

_____________ r/o _____________ hereinafter called the Releasor.

AND

_____________ r/o _____________ hereinafter called the Mortgagor.

WHEREAS the Mortgagor is desirous of taking out lands mortgaged with the Releasor and the Releasor has agreed to release the land more particularly described in Schedule “A” annexed hereto.

NOW IT IS WITNESSETH as under:

1. In pursuance of the said agreement and in consideration of the premises the Releasor hereby grants and Releases unto the Mortgagor all that piece and parcel of land more particularly described in Schedule ‘A’ TO HOLD the same unto the Mortgagor for all the period unexpired of the said term of the mortgage as discharged from all principal moneys and interest secured by or entitled to secure by and from all claims and demands under the said mortgagor.
2. Nothing herein contained shall affect the said mortgage so far as it relates to lands covered by the mortgage and not described in Schedule “A” annexed hereto which mortgage shall remain in full force and effect in respect of those lands not covered by this agreement.

THE SCHEDULE ‘A’ ABOVE REFERRED TO:

?(Describe the boundaries, survey numbers or other indemnifying particulars of land)

 

IN WITNESS WHEREOF etc.

 

 [Signatures of the parties]