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The House Loan Agreement is a crucial document used in the United Arab Emirates for property financing transactions between financial institutions and borrowers. It serves as the primary contract governing residential property loans, whether through conventional or Islamic financing structures. The agreement must comply with UAE federal laws, including the UAE Civil Code, Banking Laws, and specific emirate-level property regulations. It typically includes detailed terms about loan amount, interest/profit rates, repayment schedule, security arrangements, and borrower obligations. The document is essential for both UAE nationals and expatriates seeking property financing, and must be structured to meet the requirements of the UAE Land Department and relevant mortgage registration authorities. Given the UAE's unique legal framework, the House Loan Agreement often incorporates provisions for both traditional mortgages and Sharia-compliant financing options.

1. Parties: Identification of the Lender (Bank/Financial Institution) and the Borrower, including full legal names, addresses, and relevant identification numbers

2. Background: Context of the loan agreement, including property details and purpose of the loan

3. Definitions: Definitions of key terms used throughout the agreement

4. Loan Details: Principal amount, interest rate/profit rate, tenure, and purpose of the loan

5. Disbursement Terms: Conditions precedent to disbursement and mechanism of fund release

6. Repayment Terms: Payment schedule, installment amounts, and method of payment

7. Security Arrangements: Details of mortgage/charge over the property and any additional security required

8. Borrower's Representations: Warranties and representations by the borrower regarding their capacity and property details

9. Borrower's Covenants: Ongoing obligations of the borrower including property maintenance and insurance

10. Events of Default: Circumstances constituting default and consequences thereof

11. Bank's Rights and Remedies: Lender's rights in case of default including foreclosure procedures

12. Property Insurance: Requirements for property insurance and assignment of policies

13. Fees and Charges: All applicable fees, charges, and expenses

14. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction of UAE courts