describes, in full detail, the terms which may
have been agreed upon.

The interest is usually made payable half-
yearly, and in the event of its payment not
being kept up, or the lender desiring the return
of his money, the principal sum can be called
up, the lender giving six months' notice of his
intention to do so. If the borrower fails to pay,
a process of law has to be instituted, called a
foreclosure suit, which, if successful, transfers
the absolute ownership of the property into the
hands of the lender, so that he can receive the
rents as his own, or, if he pleases, sell the
property under legal authority. In view of such
a contingency the value of the property should
considerably exceed the amount of the money
advanced, so as not only to cover the principal
sum, but also any arrears of interest, together
with law costs and expenses. The usual pro-
portion of an advance on mortgage is two-thirds
of the ascertained value of the property, but
there might be circumstances which would war-
rant some variation in the proportion.

The mortgage deed should be prepared by the
lender's own solicitor, who would see that the
property had a good title and use all the pre-
cautions necessary in transactions of this kind
to guard against fraud and loss; and in many