While the primary agreement already requires the guarantor to maintain professional liability insurance, similar insurance companies are often included in the warranty agreement. The amount of insurance that must be maintained must be clearly stated (including the basis on which it is held, . B, for example, on each or all rights basis), as well as the guarantor`s obligation to provide evidence to the beneficiary of the detained insurance. The period during which the insurance must be taken out should also be agreed and, preferably, related to the liability period under the guarantee contract (for example. B, 6 years or 12 years after the practical closure of the project). Some beneficiaries may also benefit from the possibility of taking out this insurance and recovering costs from the guarantor party. The terms “mortgage” and “lot” are often interchangeable in terms of property security. As a general rule, references to mortgages and fees relate to the fixed security of the real estate assets in question. The terminology is different from the fact that in Ireland there were historically two different land registry systems: the Register of Deeds and the Cadastre. Security has been established on real estate registered in the register of deeds by a mortgage and on real estate registered in the land registry as a fee. Credit mortgages are only used to cover the obligations of debtors under a given loan contract or in connection with a given loan contract, while bank mortgages insure all amounts owed by the borrower to the lender, including, but not limited to a specific loan contract, and can therefore cover various loans granted (or granted) by the same lender. , or even the lender`s claims on the lender for other reasons. There should be provisions that restrict the transfer of the administrator`s interest in the administrative agreement, so that the lender can retain control and who operates the property.
Any new administrative official should be required to exercise due diligence under the same conditions as the withdrawal treaty. Similarly, the management agreement should not be amended without the lender`s consent. Unlike a home loan, a mortgage home contract does not need to be notarized to be valid, because a private deed is sufficient. The mortgage may be granted through any type of personal assets of the debtor concerned, including future assets (excluding future bank accounts), but the guarantee will not be effective until the debtor has acquired rights to the assets concerned and the guaranteed commitment is created. To be effective against third parties, a mortgage property contract must be registered in the Romanian national register for the publication of the security. As part of a security assignment, landowners generally reject receivables and receivables on leases, bank guarantees, construction contracts, property and wealth management contracts and insurance policies. Although the effectiveness of the assignment does not require a declaration of consent or notification to debtors (unless required by the underlying agreement), banks generally require proof of the transmission of notifications to debtors as a precondition for payment of the loan. No enforcement procedure is applicable because the bank becomes a creditor at the time of the transfer or on another date specified in the security agreement under the agreements ceded.