The Mortgage and Security Agreement is a crucial document in UAE real estate financing transactions, used to secure lending facilities against real property assets. This document is essential when providing or obtaining secured financing in the UAE real estate market, whether for commercial, residential, or industrial properties. It must comply with UAE federal laws, including the Civil Code and Commercial Transactions Law, as well as specific emirate-level property regulations. The agreement typically includes detailed provisions on the secured obligations, property maintenance requirements, enforcement mechanisms, and registration procedures with relevant land departments. It can be adapted for both conventional and Islamic financing structures, making it versatile for various financing arrangements in the UAE market. The document is particularly important given the UAE's strict requirements for property security and the need for formal registration of real estate mortgages.

1. Parties: Identification of the Mortgagor (property owner), Mortgagee (lender), and any guarantors or additional security providers

2. Background: Context of the mortgage arrangement, reference to any facility agreements, and description of the secured property

3. Definitions and Interpretation: Key terms used throughout the agreement, including property definition, secured obligations, and relevant legal concepts under UAE law

4. Creation of Mortgage: Express provisions creating the mortgage and security interest over the property in compliance with UAE law

5. Secured Obligations: Detailed description of the obligations secured by the mortgage, including principal, interest, and other secured amounts

6. Representations and Warranties: Mortgagor's confirmations regarding property ownership, authority to grant security, and absence of other encumbrances

7. Covenants: Ongoing obligations of the Mortgagor regarding property maintenance, insurance, payment of taxes, and other property-related duties

8. Property Insurance: Requirements for insuring the mortgaged property and assignment of insurance proceeds

9. Events of Default: Circumstances constituting default under the agreement, including cross-default provisions

10. Enforcement Rights: Mortgagee's rights upon default, including power of sale and appointment of receivers, in accordance with UAE law

11. Registration and Perfection: Requirements and procedures for registering the mortgage with relevant UAE authorities

12. Costs and Expenses: Allocation of costs related to preparation, registration, and enforcement of the mortgage

13. Notices: Process for serving notices between parties

14. Assignment and Transfer: Provisions regarding the transfer of rights under the mortgage

15. Governing Law and Jurisdiction: Confirmation of UAE law as governing law and jurisdiction of UAE courts