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A Private Mortgage Note is a crucial document in Pakistani property financing transactions, used when a lender provides funds to a borrower with real property serving as collateral. This document type is governed by multiple Pakistani laws, including the Transfer of Property Act 1882 and the Registration Act 1908, and must be properly stamped and registered to be legally enforceable. The Private Mortgage Note contains essential details such as loan amount, payment schedule, property description, and enforcement mechanisms, and can be structured either as a conventional or Islamic financing instrument. It's commonly used in both institutional lending and private lending arrangements, requiring careful attention to legal compliance and documentation requirements specific to Pakistani jurisdiction.

1. Parties: Identification of the lender (mortgagee) and borrower (mortgagor) with complete details including CNIC numbers and addresses

2. Background: Context of the loan arrangement and brief description of the mortgaged property

3. Definitions: Definitions of key terms used throughout the document including 'Property', 'Mortgage Amount', 'Interest Rate' (if applicable), 'Default', etc.

4. Loan Amount and Terms: Specification of the principal amount, payment terms, and duration of the loan

5. Security Details: Description of the mortgaged property and nature of the security interest being created

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of early or late payment

7. Interest Calculation: Method of interest calculation and application (if conventional financing)

8. Default Provisions: Definition of default events and consequences of default

9. Rights and Obligations: Specific rights and obligations of both mortgagor and mortgagee

10. Property Maintenance: Obligations regarding maintenance and insurance of the mortgaged property

11. Representations and Warranties: Standard declarations about property ownership, authority to enter agreement, and absence of encumbrances

12. Governing Law: Specification of Pakistani law as governing law and relevant jurisdiction