( Mortgage Deed)
For
Rs………………………………………………………………..
This
deed of mortgage is made on this ………day of ………….2009 between Sh.
………………………………son of Sh………………………….. resident of …………………………………………………………………… called
the mortgager(s) which expression shall unless the context does not so admit,
include his/her/their, heirs executors, administrator , representatives , and
assigns) of the one part and Bank of
Braoda a body corporate established and incorporated under the banking
companies( acquisition and Transfer of Undertakings) Act 1970 and having its
Head Office at Mandi, Baroda ( Gujrat) and among 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 others part.
And
whereas the mortgagor(s) has/have requested the Mortgagee to grant
…………………………………….to Sh………………………. son
of Sh …………………………….resident of ……………………………………………….. and the mortgagee has
agreed to advance the sum of Rs………………………………… under the
……………………………………………….. of the mortgagee to
Sh.………………..........................................................
son of Sh………………………….r/o…………………………….
as per the terms and conditions mentioned below for …………………….
And
whereas the mortgagor(s) has/have agreed to mortgage the said ……………. In favour
of the mortgagee in consideration of the said ……………………… of Rs
……………………………………………………….To Sh………………………….
son of Sh…………………………………..
The
other conditions of the mortgage deed are as under:-
1- That the mortgagor(s) is/are the absolute
owner/s of the aforesaid …………….. 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 a sum of
Rs…………………………………………. advanced/ to be advanced by the mortgagee to Sh…………………………..
son of Sh…………………………………………………………… in the manner described in Schedule “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
thereby transferring and conveying he/her/their interest in the said property
so mortgaged unto the mortgagee. The Mortgagor(s) Borrower(s)
Sh……………………………….son of ………………………………. Shall repay personally the said sum of
Rs……………………………………………… with interest at the rate of Rs………………………………. per annum
with …………………. rests from the date of
advance to the mortgagor(s) until repayment of realization in the manner as
stated in para no. (6) below. The mortgagor(s) borrower agree with the
mortgagee that in the event of the non payment or the sum accruing due under
this deed or remaining 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 with 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 reply the amount of …………………………………… remaining due from
them, in case the realization from the property mentioned above, false short of
the amount due 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 2 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 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 the amount due under this deed is paid in full to the mortgage. The costs
of insurance shall be born 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 taxes 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 mortgaged.
6- That the mortgaged has originally granted to the
borrower(s) the ……………… …………………………………… for a period of 12
months, subject to repayment on demand. In case of continues default, the bank
reserves the right o 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 ………………………………………. Of
Sh……………… ………… by sale of the mortgaged property and also realizing rents and
profits of premises, be entitled to have a receiver of the same appointed
through court without, prejudice to bank’s rights to recover as prided in para
no. 2 and 3 above.
8- That the mortgagor(s) /Borrower(s) has 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 mortgage unto
the mortgagee.
9- That on payment of all the dues of the said
mortgagee under these presents, the mortgage shall be bound to re-convey the
said premises fee from all encumbrances to mortgagor(s) borrower(s) and execute Deed of Discharge,
Transfer and every other writing in favour of the mortgagor(s) /Borrower(s) at
his/her /their expenses necessary for this purpose.
In witnesses
whereof the parties to these presents have set their hands on this ……. day of
……………………
Witnesses
1 Mortgagor(s) /Borrower(s)
Schedule –A details of the property/land
Part of Schedule –A
The property stands in the name
of S………………………son of………………….. resident of
Vill………………………………………………………….
Schedule –B
1- ………………………………………….. up to
Rs………………………………………………. in the name of Sh……………………… son of ………………………………………..
2-
repayment period . The ………………………………………………. Is
granted originally for a period …………………………….. in case of continues default by
the borrower(s) Mortgagor(s) the bank reserves the rights to recall the
personal expenses any time without assigns any reason.
Witnesses :
Mortgagor(borrower)
1-
2-
Mutation Letter
in favour Bank of Baroda Branch _____
To,
The Tehsildar,
__________
Dear Sir,
Sub: Entrance
and confirmation mutation in favour of the bank of Baroda, Branch ________
Sh………………….
S/o…………………r/o……………
…………………….
Has been sanctioned a loan of Rs………….. ( Rs………………………………………………..) Deed of his undermentioned property has been registered in favour of the bank. The
details of the property mortgaged with the bank are as under:-
Certified that
the contents given above are true copies of entries made in the registered deed
, which is in the custody of the bank. Therefore it is requested that the
mutation may kindly be entered and got confirmed. The duplicate copy may be
returned after compliance by the earliest possible.
Your’s
faithfully
Manager
Certified that
the mutation in favour of the bank for above mentioned property is entered
on……………….. at Sr…………………….. and same has been remarks revenue officer.
Signature of
Patwari Halka.
