MORTGAGE DEED
For Rs. 3372000/-
This Deed of mortgage is made
on this 16th day of Jan 2014 between sh. Prahlad Singh __________________________
called the curators which expression shall
unless the context does not so admit include his/her/there, heirs
executors, administrator, representatives and assigns) of the one part an BANK
OF BRAODA a body corporate established and incorporated under the banking companies ( acquisition and Transfer of
Undertaking ) Act 1970 and having its Head Office at Mandi, Baroda( Gujrat) and
amount others a branch office at Palwal District Palwal ( HR)hereinafter called
“the Mortgagee” which expression shall unless repugnant to the context does not
so admit include its successors and assigns) of the other part
And whereas the mortgagor(s)
has/have requested the Mortgagee to grant for Term Loan (Poly house) Rs.3372000/-
to Shri. Prahlad Singh _______________________ and the
mortgagee has agreed to advance the sum of Rs. 3372000/- under the Term
Loan (Poly house) of the mortgagee to shri Prahlad Singh
________________________ as per terms and conditions mentioned below for agrl. Purpose.
And whereas the mortgagor (s) has/have
agreed to mortgaged the said agrl. Land in favour of the mortgagor in
consideration of the said Term Loan (Poly house) of Rs. 3372000 To
shri. Prahlad Singh
_______________________.
The
other conditions of the mortgage deed are as under:-
1- That the mortgagor(s) is/are the absolute
owner/s of the aforesaid agrl. Land and is also in possession thereof together
with all rights and easements of all kinds thereto and the mortgagor (s) is/are
entitled to sell, transfer or alienate the said property.
2- That in consideration of sum of Rs. 3372000
Advanced /to be advanced by the mortgagee to shri. Prahlad Singh
__________________ in the manner described in scheduled…B…attached and on the
terms and conditions mentioned in the sanction letter. The mortgagor(s) hereby
mortgage by way of simple mortgage
without possession the said land and also the construction and superstructure
to be built thereon, more particularly
descried in the schedule marked A and as per plan attached there by
transferring and conveying he/her /their
interest in the said property so mortgaged unto the mortgagee. The Mortgagor(s)
Borrower(s) shri. Prahlad Singh Son __________________shall repay personally
the Term Loan (Poly house) said sum of Rs. 3372000 with interest at the
rate of 3% above Base Rate ( Base Rate Presently 10.25) hence applicable Rate
13.25 P.A. Per annum) (if subvention is provided ………….. on Poly house) with
monthly rests from the date of advance to the mortgagor(s) until repayment of realization in the manner as
stated in part no……………(6) below. The mortgagor(s) borrower agree with the mortgagee that in the event of the not payment or the sum accruing due from the mortgagor(s)
borrower to mortgagee the said mortgagee shall be entitled to recover and
realizes its dues with interest under
this presents together it the costs incurred by it in this behalf by sale of the property hereby mortgaged.
3-That the mortgagor (s) borrower(s) shall be
personally liable to repay the amount of Term Loan (Poly house) remaining due
from them, in case the realization from
the property mentioned above, false shout of the amount due to the mortgagee
for the principal and interest accruing due under this Deed to the mortgagee
for the principal and interest accruing
due under this deed to the mortgagee in addition to the personal liability
of the mortgagor(s) borrower(s) herein provided in para …………….. in this
para the mortgagee shall be entitled to
recover the amount of loan from other movable and immovable properties of the
mortgagor(s) and appropriate and
adjust and other movable and immovable properties of the
mortgagor(s) and appropriate and adjust the same towards the mortgage debt
under theses presents.
4- That mortgagor(s) borrower (s) further agree(s)
to keep the securities charged to the bank fully insured for its full market
value of the mortgagor(s) Borrower(s) against risks or damage and loss,
destruction by fire with the necessary banker clause and keep up such insurance
until and amount due under this deed is paid in full to the mortgage. The costs
of insurance shall be borne by the mortgagor(s) Borrower(s) in case the
mortgagor(s) Borrower(s) fail(s) at any time to insure and pay the necessary
premium, the bank may, but it will not be bound to insure the debit the costs
of the premium to the mortgagor(s) Borrower(s) account. The amount of premium
not paid to the bank will carry interest as at the rate of amount advanced and
become a part of the principal amount.
5- That the mortgagor(s) Borrower(s) shall also
continue to pay all rates and texts accruing due in respect of the said
premises under any law or rule for the time being in force and perform all the
terms and conditions of the documents of
title on which he/she/they/holds the land mortgage.
6-That the mortgaged has originally granted to the
borrowers(s) the & Term Loan (Poly house) limit of Rs. 3372000/- for
period of 84 month , subject to repayment on demand. In case of
continues default, the ban reserves the right to recall the said advance
facility at any time without assigning any reason.
7- That the
mortgagee shall be entitled to recover and realize the outstanding dues and interest
in the Term Loan (Poly house) A/C of shri. Prahlad Singh by sale of the
mortgaged property and also realizing
rents and profits of premises, by entitled
to have a receiver of the
same appointed through court without, prejudice to bank’s rights to
recover as provided in para no……… and ……above.
8-That the
mortgagor(s) Borrower(s) have ensured the mortgagee that the said property is
free from all encumbrances and that the mortgagor is/are entitled to convey the
same by way of simple mortgagor unto the mortgagee.
9- That on
payment of all the dues of the said mortgagor under their presents, the
mortgage shall be bound to re-cover the said premises fee from all encumbrances
to mortgagor(s) borrower(s) and execute Deed of Discharge, Transfer and every
other writing in favor of the mortgagor (s) Borrower(s) at his/her /their
expenses necessary for this purpose.
In witnesses whereof the parties to these
presents have sit their hands on this 16 day Jan month 2014 years.
Witnesses.
1.
Signature…………………...
Name………………………..
Address………………..…….
…………………….…..…….
2.
Signature……………………
Name………………………..
Address………………..…….
…………………….…..…….
Mortgagor(s) Borrower(s)
PART OF SCHEDULE-A
The
property stands in the name of shri.
Prahlad Singh _______________.
SCHEDULE-B
Term
Loan for (Poly house) Rs. 3372000 Sh.
Prahlad Singh _______________________.
2- Repayment Period the Term Loan (Poly house) Limit of Rs.
3372000 is granted originally for a period 84 month in case of continues default by the Borrower (s) Mortgagor(s) the bank
reserves the right to recall the
personal expenses any time without assigns any reason.
Mortgagor (Borrower)
Witnesses.
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