1St Mortgage Holder Per Title Search

1st Mortgage Holder per title search

Address:

[Date]

[Address of First Mortgagee]

“Via REGISTERED MAIL”

Re: Mortgage [Insert LTO Registration No. of First Mortgage]

We refer to the mortgage registered by you in the [Insert name of Land Title Office] Land Title Office under No. [Insert Registration No. of First Mortgage] against the following lands:

[Insert Legal Description]

(The “Property”)

Pursuant to Section 28 (2) of the Property Law Act of British Columbia we hereby notify you that Spectrum-Canada Mortgage Services Inc. has registered a subsequent mortgage of the Property.

The collection use and disclosure of the personal information in this document is governed by the Spectrum-Canada Group privacy policy (a copy of which is available on request or online at www.spectrum-canada.com).

Spectrum-Canada Mortgage Services Inc.

By: ______

Authorized Signatory

Irrevocable And Unconditional Direction

To Not Re-Advance To Borrower

Delivered via fax, mail ,registered mail & courier

Date:

From: Borrowers Name

Re: Address of property

I/We HEREBY give notice to First mortgage lender ( the “Lender”) of this irrevocable and unconditional direction as to the following:

It is acknowledged that my/our mortgage, loan instrument and/or line of credit with the Lender, registered in the appropriate Land Title Office under registration number ______in respect of the above-referenced property, legally described as:

PID LEGAL DESCRIPTION

______

may secure a current or running account and be a line of credit, re-advanceable mortgage, multi-purpose mortgage, all-encompassing mortgage or similar mortgage intended to include as part of such credit facility, overdraft protection, credit cards and/or other personal loans or other loan instruments or facilities which would be secured by the same said instrument’s priority registered against property owned by the undersigned (the “Credit Facility”).

I/We Irrevocably and Unconditionally Direct the Lender not to advance any funds that would result in the aggregate amount of all sums secured by Mortgage # ______to exceed $______or otherwise provide any further funds pursuant to the Credit Facility to the undersigned which shall exceed $______unless the Lender has first received written consent of, ______, their assignees or transferees (collectively the "Subsequent Lender"). It being the intent that such Credit Facility may be advanced and readvanced to such $ ______aggregate and maintain its priority position for such $______limit.

I/We FURTHER INSTRUCT that a copy of this document be placed in my file and that a notice be attached to my borrowing capacity with the Lender regarding this direction.

As a customer of the Lender, I expect the Lender to comply with this instruction. This document further provides notice to the Lender that the Subsequent Lender, is / are relying upon the information within this Irrevocable Direction with the expectation that the Lender will take all steps necessary to comply with the instructions stated herein.

Regardless and apart from the foregoing, this document further gives notice to the Lender that any funds advanced to the undersigned after the Lender has received this notice would be secured under a priority position behind that of a subsequent mortgage(s) which I have arranged with the Subsequent Lender.

______

Witness Signature Borrowers Signatures