Section 4: Use and maintenance of the building

The borrower must take all reasonable care of the mortgaged property.

As stated in Article 1305-4 of the Civil Code, the debtor cannot claim the benefit of the term if he does not provide the securities promised to the creditor or if he reduces those which guarantee the obligation.

The debtor also loses the benefit of the term when he changes the use of the mortgaged property or when he refuses the creditor access to the mortgaged property to ensure that it is in a good state of maintenance and preservation or, in the case of a loan with periodic interest payments, when he defaults on one or more interest instalments. In the event of default by the borrower…