Home Equity Line Agreement Template for Canada

1. Insurance Requirements: Detailed insurance obligations - included when the lender requires specific insurance coverage beyond standard property insurance

2. Guarantor Provisions: Terms applicable to guarantors - included when there are third-party guarantors

3. Construction Draws: Procedures for construction-related draws - included when the HELOC is being used for construction purposes

4. Multiple Borrowers: Joint and several liability terms - included when there are multiple borrowers

5. Property Management: Requirements for property maintenance and leasing - included for investment properties

6. Cross-Collateralization: Terms for multiple properties securing the facility - included when multiple properties are involved

7. Electronic Communications: Terms for electronic document delivery and communications - included when offering digital services

1. Schedule A - Property Description: Legal description of the property securing the credit facility

2. Schedule B - Fee Schedule: Detailed breakdown of all applicable fees and charges

3. Schedule C - Payment Terms: Detailed payment terms, including payment options and frequency

4. Schedule D - Interest Rate Calculation: Detailed explanation of interest rate calculation methodology

5. Schedule E - Standard Charge Terms: Reference to standard charge terms filed with land registry

6. Appendix 1 - Cost of Borrowing Disclosure: Regulatory required disclosure of borrowing costs and APR

7. Appendix 2 - Privacy Policy: Lender's privacy policy and information handling practices

8. Appendix 3 - Risk Disclosure: Disclosure of risks associated with variable rate HELOC products