Mortgage amount in the Notary documents

This is my situation:
The bank did an evaluation of the house = 300K
We refinance for 230K plus HELOC 10K total 240K.

I received the paperwork for the Notary and the amount of the mortgage is set to 300K?? Should not be 240K only?


the HELOC it's only 10K and not 70K?
The bank told me that the max amount of credit is 300K (the evaluation) - 20% = 240K. That's why I was expecting to see on the Notary's papers 240K not 300... 


The bank registers for $300K against the property, while lending you a total of $240K, because a conventional mortgage can only be 80% of property value. If property value goes up to the point where they can lend you $300K against it then they can increase your HELOC without requiring to refile legal documents (costs hundreds of dollars).