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Registration of Bank Special Security Regulations (SOR/92-301)

Regulations are current to 2020-02-11

SCHEDULE I(Subsection 8(1))

Special Security in Respect of Hydrocarbons or Minerals, or Other Property Described in Section 426 of the Bank Act

For good and valuable consideration, the undersigned hereby assigns over to theblank lineBank, hereinafter called “the bank”, as continuing security for the payment of all loans and advances that have been or that may be made by the bank to (insert the words “the undersigned” if signatory is the borrower; if not, insert name of borrower) or renewals of such loans and advances, or substitutions therefor, and interest on such loans and advances and on any such renewals or substitutions, the following property of which the undersigned is now or may hereafter become the owner, to wit

(description and location of property of any or all of the kinds mentioned in section 426 of the Bank ActFootnote *)

  • Return to footnote *The description and location of property may be set out or continued on the back of the form or in a schedule annexed thereto.

This security is given under section 426 of the Bank Act.

The property now owned by the undersigned and hereby assigned is free from any mortgage, lien or charge thereon, other than previous assignments, if any, to (the bank or other person, as the case may be), and the undersigned warrants that the property that may hereafter be acquired by the undersigned and is hereby assigned shall be free from any mortgage, lien or charge thereon, other than any previous assignments to (the bank or other person, as the case may be).

Dated atblank linetheblank lineday ofblank line, 19blank line.

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(Signature)
  • SOR/95-171, s. 2
 
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