Covenant
A covenant is a clause in a legal document which, in the case of a mortgage, gives the parties to the mortgage the right to do a certain thing or not to do a certain thing. For example, a covenant to a mortgage commits them to pay the mortgage if the mortgagor defaults.
A borrower can also be obliged to make mortgage payments in certain amounts on certain dates.
A mortgage document consists of covenants agreed to by the borrower and the
lender.
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