Mortgage Drafting Assignment- this is ONE question. PLEASE HELP ITS FOR REAL ESTATE LAW! Sam and Sue Smith succeeded in purchasing the home from Dr. Joshua Denial. The date of their closing will be on March 30, 2023. You are to prepare their Mortgage. They settled on a purchase price of $235,000. Because they are putting 20% down, or $47,000, they need to borrow the balance of the amount ($188,000). They are borrowing the money from First National Bank of Sweet Dreams, Wisconsin. The bank is located at 737 East Prairie Lane, Sweet Dreams, Wisconsin 54926. The Promissory Note will be dated the same date as the Mortgage, which is the same date as the closing on the house. Use March 30, 2023 as the date. It is not Homestead property and this is not a purchase money mortgage. However, in the mortgage they waive the homestead exemption. Regarding the security, under paragraph 12, you will choose Option A. Parcel Number: 35-18746 As you learned in the Deed Drafting Assignment, they have an Easement on the property. To recap: