抵押的

In the last part, the paper appraises mortgage value using the former and improved capitalization rate respectively. Making using of the method of appraisal bias, the paper concludes that using the former capitalization rate results in overrating the appraisal result, while using the improved capitalization rate does not exist overrating problem. Based on that, the paper compares the former and improved capitalization rate from the following six aspects- mortgager, financial institution, appraisal institution, conservative principle of appraisal of mortgage, default risk, mortgage rate, and finally concludes that the improved capitalization rate is more scientific and accurate.

通过案例分析分别运用改进前后的资本化率进行评估，运用评估bias方法对评估结果进行研究，得出运用改进前的资本化率进行评估存在高估的现象，而运用改进后的资本化率进行评估则不存在高估的问题，在此基础上从抵押人、金融机构、评估机构、保守性估价原则、违约风险、抵押利率六个方面对改进前后的资本化率进行了系统的比较，得出改进后的资本化率更加科学精确的结论。

I also think that in China there are indeed too many people and a series of other problems, the lender of the information detailed understanding very difficult, such as we sometimes impossible for a person's information is very understanding, and sometimes he To say what his loan collateral can be secured, but sometimes he may have collateral security to the pawn shop, etc., these banks are sometimes difficult to understand, so understanding of information in China is relatively difficult.

我也觉得在中国的确存在着人太多以及其他的一系列问题，对贷款人的资讯方面去详细的了解很困难，比如我们有时候不可能对一个人的资讯情况非常的了解，有时候他来贷款说他有什么抵押物可以抵押，但是有时候他的抵押物可能已经抵押给了当铺等等，这些情况银行有时候会很难了解，所以资讯了解在中国是比较困难的。

By expounding the legal doctrine of asset securitization and the complicated legal relationships among them, with the help of the comparative research on the related legal systems in our country and other countries with mature asset securitization in the world, this dissertation discusses the jurisprudential foundations and realistic significance with which our country makes housing mortgage loan as point of tangency of asset securitization, analyzes a lot of legal barriers that our country shall face when carry out securitization of housing mortgage loan under current social environment for the legal system, and thereupon the author brings up the legislative suggestions of asset securitization which conform to national conditions of our country.

本文通过阐释资产证券化的法律原理和其中所蕴涵的复杂法律关系，借助于我国与国际上资产证券化成熟国家相关法律制度的比较研究，探讨了我国以住房抵押贷款作为资产证券化的切入点的学理依据和现实意义，以及在目前的法制环境下，我国实行住房抵押贷款证券化所面临的诸多法律障碍，从而提出符合我国国情的资产证券化立法建议。

Pointed out that from the financial point of view, countries in the current macroeconomic policy, the bank's second-hand housing loan requirements of the subject matter of strict than before, and the proportion of loans and repayment period is more stringent; in the process of a direct impact on second-hand housing transactions to the mortgage, that is, there are all kinds of unreasonable, then there are now many banks have stopped the process to switch mortgage business, real estate transactions on the secondary impact is relatively large.

胡景辉指出，从金融角度来看，国家在目前的宏观经济政策，银行的二手房贷款需求的主题事项严格比以前的比例贷款和还款期是更严格；的过程中，直接影响了二手房交易抵押贷款，也就是说，有各种各样的不合理的，那么现在有许多银行已停止的进程切换抵押贷款业务，房地产交易的次要影响比较大的。

7 Subject as hereinafter provided, any such Receiver may, for the purpose of defraying any costs, charges, losses or expenses which shall be incurred by him in the exercise of the powers, authorities and discretion vested in him and for all other purposes hereof or any of them, raise and borrow money on the security of the Property or any part thereof or any interest therein either in priority to the moneys hereby secured and the security hereby constituted or otherwise and at such rate of interest and generally on such terms and conditions as he may think fit and no person lending any such money shall be concerned to enquire as to the propriety or purpose of the exercise of this power or to see to the application of any moneys so raised or borrowed provided however that a Receiver shall not exercise this present power without first obtaining the prior written consent of the Lender

11.7 除下文另有规定外，任何接管人为支付在行使获赋予的权力、权限及酌情决定权时所招致的任何费用、收费、损失或开支，并为本契据所有其他目的或其中任何目的，可按其认为适当的利率，并一般而言按其认为适当的条款及条件，将物业或其任何部份或其中任何权益作抵押，以筹集与借取款项，该款项可排在以本契据担保归还的款项及以本契据构成的抵押之前，或依照其他先后次序。借出上述款项的人士，无须关注查究行使此权力是否恰当或为何目的，或关注如何应用上述筹集或借贷所得款项，但接管人未经贷款人事先书面同意，不得行使此权力

Despite the central bank's mortgage policy adjustment program introduced now appears to be nowhere in sight, but Judging from the recent central bank and commercial banks in mortgage interaction term,"prevention and control of overheating," the work of thinking has not been the outbreak of SARS epidemic and have a significant change.

尽管中央银行的抵押贷款政策的调整计划介绍现在似乎遥遥无期，但是从近期中央银行和商业银行抵押贷款的互动来看，&预防和控制经济过热，&的工作思路还没有爆发的SARS疫情，并发生了重大变化。

1 If the Borrower shall on demand as aforesaid pay to the Lender in full the secured sum together with interest thereon at the rate and in manner aforesaid and if there shall be no breach of any covenants, terms, agreements and conditions herein contained on the part of the Borrower to be observed and performed then and in such event the Lender shall at the request and cost of the Borrower upon production to the Lender of all receipts of management fees, rates, Crown rent and property tax chargeable on the Property or other payments which the Borrower may be liable to pay hereunder during the subsistence of this Legal Charge/Mortgage execute a receipt or otherwise discharge the security hereby constituted as required by the Borrower.

6.1 若借款人如上文所述，在贷款人要求下将有抵押款项连同依上述利率及方式计算的利息，全数付予贷款人，且并无违反本契据所载须由借款人遵守及履行的任何契诺、条款、协议及条件，则在借款人向贷款人出示下述各项的收据后，贷款人须应借款人请求并在借款人承担费用的情况下，签立收据或以其他方式解除本契据构成的抵押：就物业可收取的管理费、差饷、地租及物业税或借款人在本法律押记／按揭存续期间可能须付的其他款项。

I direct that all federal estate taxes and state inheritance or succession taxes payable upon or resulting from or by reason of my death (herein "Death Taxes") attributable to property which is part of the trust estate of the MICHAEL JACKSON FAMILY TRUST, including property which passes to said trust from my probate estate shall be paid by the Trustee of said trust in accordance with its terms.

我特此授权遗嘱执行人拥有出售，租赁，抵押，交换等处置我财产的全部权力。所有处理办法的最终目标如下：继续我的公司经营业务，购买资产，支付保险费，以及处理我的合同，抵押贷款和销售凭据。另外，我给予遗嘱执行人投资和再投资房地产基金以及其它财产的权力。

In the event either party should desire to sell, encumber, convey or otherwise dispose of or realize upon his or her Separate Property or any part or parts thereof, the other party will, upon request of a request, join in such deeds, bills of sale, mortgages, renunciations of survivorship or other rights created by law or otherwise, or other instruments, as the party desiring to sell, encumber, convey or otherwise dispose or realize upon may request and as may be necessary and appropriate to consummate the sale, encumbrance, or conveyance provided, however, that the other party shall not be obligated under this agreement to sign any agreement making his or her Separate Property subject to any debt, mortgage or encumbrance.

如果任何一方要愿意卖、质押、运送或处置或实现对自己独立的财产或任何部分或零件，对方会要求的请求，参与这项行动，法案买卖、抵押、放弃的存活率或其他权利，造成法律与否，或其他工具作为党欲出售、质押、运送或处置或认识后可以要求，并在必要和适当的完善的销售、产权、运输工具，但条件是对方不得有根据这项协议签署任何协议作出自己独立的财产受任何债务，抵押权或抵押。

Generally, the process of getting loans on the basis of the existence of different risk factors, personal loans purchase at least three types of business risk protection : First, the housing mortgage property insurance, the main victims of accidents and protect property damaged by natural disaster risks; Second, lenders regular credit life insurance, mainly in the loan owing on the loan period of injury as a result of illness or accident and incapacity or death of bank guarantee safe recovery loans to the families of those who continue to live; Third mortgage purchase insurance performance bond, mainly because when the guarantor of death, unemployment causes an inability owing on the loan, insurance companies on behalf of their debt to banks liquidated I, at the same time exercise the right to recover from the collateral, or to the insured recover compensation awards.

一般而言，根据贷款买房过程中存在的不同风险因素，个人贷款购房业务至少需要三类风险保障：一是抵押住房的财产保险，主要保障房产遭受意外事故和自然灾害毁损的风险；二是贷款者的定期信用人寿保险，主要是在还贷期内贷款人因疾病或意外伤害而丧失工作能力或死亡的情况下，保证银行能安全收回贷款，贷款者的家人能继续居住；三是抵押贷款购房履约保证保险，主要是在当被担保人因为死亡、失业等约定原因无力还贷时，保险公司代其向银行清偿余债，同时行使追偿权，从抵押物中得到补偿或向投保人追回赔款。

Do you know, i need you to come back

你知道吗，我需要你回来

Yang yinshu、Wang xiangsheng、Li decang,The first discovery of haemaphysalis conicinna.

1〕 杨银书，王祥生，李德昌。安徽省首次发现嗜群血蜱。