Deed of Simple Mortgage Deed: Mr. - , Son of Mr. - , Aged About - Years
Deed of Simple Mortgage Deed: Mr. - , Son of Mr. - , Aged About - Years
Deed of Simple Mortgage Deed: Mr. - , Son of Mr. - , Aged About - Years
TO AND IN FAVOUR OF
-2-
WHEREAS the MORTGAGOR is in need of funds for his Business
Development / family expensesand has therefore approached the
mortgagee herein for a MORTGAGE / LOAN OF Rs.__________/-(Rupees
_____________ Only) and the MORTGAGEE has agreed to lend the same
on the security of the property referred to above and more particularly
described in the Schedule hereunder;
4) In case the amount becomes due and payable for any reason either
by operation of above said clauses or by operation of law, it shall be open to
the Mortgagee to exercise all the powers contained in the Transfer of property
Act; 1882,this shall be without prejudice to his right to file suit against the
Mortgagor for the sale of the Property;
6) In case a sale is held and the Sale proceeds are found insufficient for
the payment of the principal amount with interest, the balance amount shall be
made good by the Mortgagor, personally from his other properties,
8) The Mortgagor doth hereby covenant that he has got a good and
valid title to the Mortgaged Property and that he has not done anything in
derogation of the same; and that he has not created any other mortgage,
charge or other encumbrancesto any other person, over the schedule
mentioned Property;
10) The Mortgagor doth hereby also assures that hewill not allow the
security to be impaired within the meaning of section 69, 69A of theTransfer
of Property Act, 1882.
11) The Mortgagor assures that hehas paid all the taxes and outgoings
in relation to the Property hereby mortgaged and further agrees that he will
properly and regularly pay all the taxes and other charges in respect of the
Schedule Property;
12)Any notice sent or left at the address of the Mortgagor given in this
deed of mortgage shall be deemed to be a good service of any notice;
MORTGAGOR
Witnesses:
1.
2.
DRAFTED BY :-