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- Release of Mortgage
Release of Mortgage THIS INDENTURE made at ___________ this ____________ day of ________________ BETWEEN ABC of ___________, Indian Inhabitant, hereinafter called “The Mortgagee” (which expression shall unless it be repugnant to the context or meaning thereof include his heirs, executors and administrators) of the One Part: AND XYZ of _________, Indian Inhabitant, hereinafter called “The Mortgagor” (which expression shall unless it be repugnant to the context or meaning thereof include his heirs, executors, administrators and assigns) of the Other Part: W H E R E A S:— (a) By a Memorandum of Agreement dated 3rd day of July 1999 and registered in the office of the Sub-Registrar of Assurances at Mumbai under Serial No. _________________ of ___________ 1999 and entered into between the Mortgagor herein of the One Part and the Mortgagee of the Other Part in consideration of the sum of Rs. 10,00,000/- paid to the Mortgagor by the Mortgagee, the Mortgagor did deposit with the Mortgagee the title deeds (described in the Schedule “A” here in under written) relating to the property (described in the Schedule “B” there under as also in the Schedule “B” hereunder written) to hold the same as an equitable security for the repayment by the Mortgagor to the Mortgagee the said sum of Rs. 10,00,000/- and interest thereon at the rate and in the manner therein mentioned. (b) The Mortgagee has from time to time paid to the Mortgagee all interest due under the said equitable mortgage up to date and has agreed to pay to the Mortgagee the principal amount on the Mortgagee executing such Release of the said mortgaged property as is hereinafter contained. NOW THIS INDENTURE WITNESSETH that in consideration of the sum of Rs. ___________ (Rupees _______________________________) paid to the Mortgagee by the Mortgagor in full of all principal moneys and interest due and owing on the security of the said hereinbefore recited equitable mortgage dated the ____________ day of ____________ 2002 (the receipt whereof the said Mortgagee doth hereby admit and acknowledge and of and from the same doth hereby acquit, release and forever discharge the Mortgagor). He the Mortgagee doth hereby release and discharge the title deeds and writings specified in the schedule A hereto as also the said property described in the Schedule B hereunder written from the equitable security created thereon or in respect thereof by the said recited Mortgage dated the _______________ day of _________ 200___ and from all claims and demands in respect thereof or in anywise relating thereto AND the Mortgagee doth hereby Covenant with the Mortgagor that He the Mortgagee hath not at any time here to before made done or knowingly suffered or been party or privy to any act, deed or thing whereby or by reason or means whereof he is prevented from releasing the said deeds and writings and the said property in manner aforesaid. IN WITNESS WHEREOF the Mortgage hath set his hand at Mumbai aforesaid the day and year first hereinabove written. THE SCHEDULE “A” ABOVE RFERRED TO: (LIST OF TITLE DEEDS) THE SCHEDULE “B” ABOVE REFERRED TO: (DESCRIPTION OF THE PROPERTY) SIGNED AND DELIVERED by the ) With in named A B C ) In the presence of : ) Received this ____________ day of ____________ 200___ from the Mortgagor the sum of Rs. ___________/- (Rupees ___________________ only) being the full consideration money within expressed to be paid by him to me. WITNESS: I SAY RECEIVED (THE MORTGAGOR) Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)
- LETTER OF COMFORT
आराम के पत्र ............................... कंपनी लिमिटेड। ............................... ............................... तारीख तक: ............................... ...............................बैंक, ...............................डाली, श्रीमान, एबी कंपनी लिमिटेड को ............... रुपये का ऋण अनुदान ......... ................................... हमें आपको सूचित करना है कि एबी कंपनी लिमिटेड कंपनी अधिनियम, 1956 के तहत निगमित एक कंपनी है और इसका पंजीकृत कार्यालय ............... ...... इसके बाद उक्त कंपनी के रूप में संदर्भित, हमारी सहायक कंपनी है और हम ......................... को धारण करते हैं। उक्त कंपनी में ..% इक्विटी शेयर¬ होल्डिंग और हमारा उक्त कंपनी से समर्थन वापस लेने का कोई इरादा नहीं है। 2. हम समझते हैं कि आपने उक्त कंपनी को उसके व्यवसाय के लिए ............... का ऋण प्रदान किया है उद्देश्य और हमसे गारंटी या आराम का एक पत्र प्राप्त करना चाहते हैं। 3. उक्त कंपनी को आपके द्वारा ……………….. के अग्रिम के अनुदान पर विचार करते हुए, हम सुनिश्चित करें कि अवधि के दौरान, उक्त अग्रिम का भुगतान नहीं किया गया है, उक्त कंपनी की वित्तीय स्थिति अपने दायित्वों को पूरा करने के लिए अच्छी होगी और यदि उक्त कंपनी ब्याज, लागत और शुल्क के साथ अग्रिम भुगतान करने में विफल रहती है, तो हम देखेंगे कि उक्त कंपनी की देनदारी का परिसमापन किया जाता है। 4. यह पत्र केवल आराम का पत्र है और इसे उक्त कंपनी के ऋणों और देनदारियों की गारंटी देने वाले गारंटी पत्र के रूप में नहीं माना जाना चाहिए। आपका विश्वासी, के लिए ......................... कंपनी लिमिटेड प्रबंध संचालक Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)
- Memorandum of Entry Recording Creation of Equitable Mortgage
Memorandum of Entry Recording Creation of Equitable Mortgage MEMORANDUM OF ENTRY RECORDING that Shri ____________________________________ the Director of M/s. ABC LIMITED, a Company having its registered office at _____________________________________ (hereinafter referred to as the “Borrower”) attended the office of __________________________________ (hereinafter referred to as “the Bank”) situate at _________________ _________________ on the __________ day of ________________ 200__ and delivered to and deposited with Shri ____________________________ an authorized Officer of the Bank the documents of title relating to the immovable property of the Borrower more particularly described in the First Schedule hereunder written and which said documents of title are more particularly described in the Second Schedule hereunder written, intending to make the said deposit as security for the payment and discharge of all indebtedness and liabilities of the Borrower to the Bank under the loan documents dated ___ _____ 200__ . When making the said deposit, the said Shri ________________ ____________ on behalf of the Borrower declared, admitted and confirmed to the Bank as under:- (a) The Borrower is the Owner of and well and sufficiently seized and possessed of the immovable property described in the First Schedule hereunder (hereinafter referred to as “the said immovable property”). (b) In terms of the said loan documents, the Bank has allowed the Borrower various credit facilities by granting all or some or any of the credit facilities by way of Overdraft, Demand Loans, Loans, Cash Credits, Term Loans, pre-shipment and post-shipment credits, opening of letters of credit, issuing of guarantees, Negotiation and discounting of bills and cheques, inland as well as foreign and such other facilities as from time to time required by the said Borrower for amounts not exceeding the principal sum of Rs. ________________/- (Rupees _____________________________ only) on the terms and conditions specified therein. (c) One of the conditions of the grant of the aforesaid credit facilities is that the repayment of the said principal sum of Rs. ____________________/- (Rupees ________________only) and all accruing interest, discount, commission, charges and all kind of costs and expenses payable to or incurred by the Bank in relation thereto along with all other further dues, cost, expenses etc. shall stand secured by creation of equitable mortgage of the said immovable property in favour of the Bank. (d) By its Board Resolution passed at its meeting held on _________ day of __________200____, the Board of Directors of the Borrower, Shri ______________________, the Director of the Borrower company is authorised to create the said security by way of equitable mortgage of the said immovable property and to deposit the said title deeds with the Bank. (e) The Borrower has accordingly with intent to carry out their said obligation and to creating the said security of the said immovable property described in the First Schedule hereunder written deposited with the Bank the said title deeds more particularly described in the Second Schedule hereunder written with the intention that the said property would remain as security for such repayment. (f) That the said deposit of the title deeds by the said Shri _____________________________ was made on behalf of the Borrower with intent to create a mortgage by deposit of title deeds of the said premises in favour of the Bank as security to secure repayment of all monies including interest, costs, charges and expenses due or becoming due and payable by the Borrower to the Bank under or in respect of all or some or any of the facilities either in Indian or foreign currencies granted and/or agreed to be granted to the Borrower and for any other indebtedness and liabilities, past, present and future of the Borrower to the Bank. (g) That the documents of title now deposited with the Bank were the only documents of title in possession of the Borrower in respect of the said premises of the Borrower and that the Borrower is the absolute owner of the said property and that the Borrower has marketable title thereto. (h) That there is no mortgage, charge, lien or any other encumbrance or attachment on the said immovable property or any part thereof by any Government or local authority or by Income Tax Department and that no notice has been issued and/or served on the Borrower under the Rules 2, 16 or 51 or any other Rules of the Second Schedule to the Income Tax Act, 1961, or under any other law. (i) and that the Borrower has not entered into any agreement for sale, transfer or alienation thereof or any part or parts thereof and that no encumbrance hereafter will be created by the Borrower except with the express prior permission in writing of the Bank so long as the Borrower continues to be indebted to or remain liable to the Bank on any account. (j) Shri _______________________ on behalf of the Borrower also acknowledges that the maximum amount intended to be secured by the said mortgage created as aforesaid was for the purpose of Section 79 of the Transfer of Property Act, 1882 and for no other purpose and without affecting the Borrower’s full liability to the Bank under the said mortgage for all subsisting liabilities together with interest and all costs, charges and expenses thereof. THE FIRST SCHEDULE ABOVE REFERRED TO: (Description of the immoveable property) THE SECOND SCHEDULE ABOVE REFERRED TO: (List of Title Deeds) IN WITNESS WHEREOF the Bank has recorded the fact of aforesaid deposit of titled deeds by these presents the day and year first hereinabove written. SIGNED by Shri __________________, ) Asst. General Manager (Credit), ) Advances Department at ______________ ) Branch and the authorised officer of the Bank ) for and on behalf of ________________ Bank ) Note: This Memorandum records the fact of deposit of title deeds on behalf of the Mortgagee and is not a contract between the parties. It will attract only stamp duty as applicable and will not require registration. However, simultaneously a Declaration in writing in terms of this Memorandum should also be separately obtained from the person making deposit of title deeds. Download Word Document In English. (Rs.15/-) Download PDF Document In Hindi. (Rs.15/-)
- TRUST RECEIPTS GIVEN TO THE BANK BY THE PAWNOR
TRUST RECEIPTS GIVEN TO THE BANK BY THE PAWNOR TRUST RECEIPT Date: To The ................................ ……………..Bank, ……………..Branch, Dear Sir, In consideration of your delivering the documents specified in Schedule hereunder, relating to produce of goods pledged to you, we confirm and declare that we hold the said documents on trust for you and undertake as follows: 1. We will comply with all the terms and conditions mentioned in your letter No. ....................... dated……………..a copy of which has been annexed at Annexure to this receipt. 2. We will treat the said documents and goods in our books as belonging to you and hold the same on your behalf. 3. We will take delivery of the goods and produce to which such documents relate, for the purpose of manufacturing and/or sale to buyers to whom we are not indebted or under any liability. 4. On receipt of the goods on the basis of the documents and till the sale thereof, the goods shall be stored in a warehouse and the warrant shall be handed over to you or to such person to whom you direct from time to time. 5. On sale of the said goods, the proceeds of sale or any part payment shall be remitted to you forthwith without any deduction whatsoever. 6. We will keep the goods fully insured with an insurance company in our and your joint names and hold the policies and the proceeds in trust for you. In case the goods are lost, damaged or destroyed any money received from the insurance company as compensation shall be forthwith paid to you and if the full value of the said goods is not received, we will pay the balance amount to make up the deficiency. 7. We will pay the freight charges, warehouse charges and other charges and costs of and incidental to the storing and transit of the said goods. 8. We will sell the said goods to the customers on market rate and will send the copy of the sales invoice for the goods to you. We undertake that we will not sell the goods on credit or at concessional or less than current market rate of the said goods. 9. We will keep the goods separate from our own goods or goods of any other person at all times and inform the address of the place from time to time where such goods are stored or kept. 10. You or your agents or nominees will have the right to inspect the goods at all reasonable times and for that purpose to enter into the premises, factory or place where the goods are kept or stored. 11. We hereby indemnify and keep you indemnified against all actions, claims, demands, costs, expenses or liabilities of whatever nature commenced, initiated or incurred by you for anything done or omitted to be done by us in connection with or relating to the release of documents to us or relating to the goods. 12. This trust receipt will remain in full force and effect, notwithstanding winding up proceeding taken against us or any change in our constitution or amalgamation or take over of our company with any other company or concern or any settlement, compromise or adjustment of account and this will be in addition and not in substitution of any security, guarantee, right or lien held by you and your rights shall not be affected in any way by varying, releasing or otherwise enforcing any of securities, rights, guarantee or lien. 13. The liability under this receipt will continue, until the moneys due on the pledge, for which the documents were pledged and interest, costs and charges due and payable thereon are repaid to you and until such time, we will continue to be liable under this Receipt. 14. This receipt is being issued in pursuance of the Resolution of the Board of Directors passed on the day……………..20……………..a copy of which is enclosed. The Schedule above referred to Annexure Signed by ............................... ……...……………..Co. Ltd. Director Managing Director Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)
- Indenture of Second Mortgage
Indenture of Second Mortgage THIS INDENTURE OF SECOND MORTGAGE executed at _______ this _________ day of _________ 200__ between M/S. ABC LTD., a Company incorporated under the provisions of the Companies Act, 1956 having its registered office at _______________________________ _____________________________________, hereinafter referred to as “THE MORTGAGOR” (which expression shall unless it be repugnant to the context or meaning thereof mean and include its successors and assigns) of the ONE PART; AND P Q R of _______, Indian Inhabitant, having his address at ___________________________________________ ____________________________________ (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, executors and administrators) hereinafter referred to as “THE MORTGAGEE” of the OTHER PART; WHEREAS: (a) The Mortgagor is the Owner of and well and sufficiently seized and possessed of the property more particularly described in the Schedule hereunder written (hereinafter referred to as “the said property”). (b) The Mortgagor was in need of finance and has borrowed a sum of Rs. 20,00,000/- (Rupees twenty laks only) from one XYZ against the security of the said property by way of Mortgage for repayment of the principal and interest thereof. By an Indenture of Mortgage dated _______ registered with sub-Registrar of Assurances at Mumbai under No. _________, the Mortgagor herein has mortgaged the said property in favour of the said XYZ on the terms and conditions appearing therein (hereinafter referred to as “the First Mortgagee”). (c) As on date a sum of Rs. 5,00,000/- (Rupees five laks only) being the principal amount and interest thereof is due and payable by the Mortgagor to the said XYZ. (d) The Mortgagor has requested the Mortgagee to advance to the Mortgagor a sum of Rs. 5,00,000/- (Rupees five laks only) on the security of the said property and subject to the aforesaid First mortgage. (e) The Mortgagee has agreed to lend to the Mortgagor the said sum of Rs. 5,00,000/- on the repayment thereof with interest being secured to him by the Second Mortgage on the said property in the manner hereinafter expressed. NOW THIS INDENTURE WITNESSETH that in pursuance of the said agreement and in consideration of the sum of Rs. 5,00,000/- now paid to the Mortgagor by the said Mortgagee (the receipt whereof the Mortgagor doth hereby acknowledge and of and from the same doth hereby release and discharge the Mortgagee), the Mortgagor doth hereby subject to the FIRST MORTGAGE referred hereinabove grant release convey and assure unto the Mortgagee the said property more particularly described in the schedule hereunder written with all and singular the buildings, courts, compounds, yards, areas, ways, paths, passages, commons, gullies, sewers, drains, trees, plants, shrubs, wells, waters, water-courses, lights, liberties, privileges, easements, advantages and appurtenances, whatsoever to the said property or any part thereof belonging or in anywise appertain or usually held or enjoyed or occupied therewith or reputed to belong or be appurtenant thereto AND ALL the estate, right, title, interest, claim and demand whatsoever of the Mortgagor in to and upon the said property and every part thereof TO HAVE AND TO HOLD the said property hereby granted unto and to the use of the Mortgagee subject to the proviso for redemption next hereinafter contained and subject to the First Mortgage mentioned herein. The Mortgagor doth hereby covenant with the Mortgagee as under:— (i) They shall re-pay the said amount of Rs. 5,00,000/- together with interest thereof @ 1.25 percent per month with monthly rest (payable monthly along with the principal amount) by equal 12 monthly installments, the first of such payments shall be made on the _________ day of _________ and the subsequent installments shall be made on or before 10th day of each and every succeeding month. (ii) If any payment of interest is not made on the due date (whether or not demanded) it shall be added to the principal sum and compounded accordingly and for all intents and purposes shall be chargeable upon the mortgaged property herein, however, this provision shall not in any way permit the MORTGAGOR to allow any interest to fall in arrears. PROVIDED always that if the Mortgagor shall pay to the Mortgagee the sum of Rs. 5,00,000/- (Rupees five laks only) on the ____________________ day of _______________ 200___ with the agreed rate of interest and in the foretasted manner and also all other moneys by law or under these presents payable by the Mortgagor to the Mortgagee (hereinafter collectively referred to as “the Mortgage debt”) then and in such case the Mortgagee shall at the requests, costs, charges and expenses of the Mortgagor re-convey the said property unto and to the use of the Mortgagor and in the meantime and until any default shall have been made by the Mortgagor, the Mortgagor shall remain in the possession or receipt of the rents and profits of the said property and if the Mortgagor shall fail to pay to the Mortgagee on the due date the Mortgage debt then the said property hereby granted shall not be redeemable by the Mortgagor or any other person or persons interested in the equity of redemption thereof at any time thereafter and the Mortgagee shall be entitled to refuse to accept payment of the Mortgage debt unless the Mortgagor or such person or persons shall have given to the Mortgagee three months previous notice in writing making an appointment to pay off the Mortgage debt on any working day during banking hours and shall pay the same accordingly and in conformity with such notice on such appointed day or unless and in the alternative and in default or in lieu of such notice the Mortgagor or such person or persons shall pay to the Mortgagee in addition to the Mortgage debt and at the same time a further sum equivalent to three months’ interest on the Mortgage debt at the rate of 1.25 percent per month with monthly rest and every failure on the part of the Mortgagor or such person or persons to pay off the Mortgage debt strictly in accordance with such notice as aforesaid and on the day thereby appointed shall entitle the Mortgagee to a fresh notice of the same sort or in default thereof to three month’s further interest at the rate aforesaid. Agreed, Recorded and confirmed as under:— (a) The present Mortgage is the Second Mortgage subject to the First Mortgage recited above and shall not affect the rights, authorities and powers of the said X Y Z, being the Mortgagee under the First Mortgage. (b) Upon the First Mortgage being satisfied, the Mortgagee herein will ipso facto step in the shoes of the Mortgagee under the First Mortgage with all the rights, authorities and powers of the First Mortgagee including power of appointment of Receiver and of sale without any further writing or consent from the Mortgagor as if the same were specifically granted hereunder and formed part hereof. (c) The Mortgagor shall comply with all their obligations, restrictions and covenants as recorded in the First Mortgage until the entire Mortgage debt under the Second Mortgage is paid in full as if the said obligations and covenants are conferred herein in favour of the present Mortgagee. (d) That in the event of the First Mortgagee exercising his right of sale and realising his security, all surplus sale proceeds in his hands to the extent of mortgage debt hereunder shall be receivable by the Mortgagee herein towards satisfaction of the mortgage debt. (e) That in the event of the default on the part of the Mortgagor and the Mortgagee herein being required to enforce and realize his security, subject to first payment there from of the First Mortgage, the Mortgagee herein shall be entitled to apply the surplus (after satisfying the First Mortgage) remaining towards the Mortgage debt herein and to pay over the remaining surplus, if any to the Mortgagor. THE SCHEDULE ABOVE REFERRED TO: (Description of the said property) IN WITNESS WHEREOF the parties hereto have executed these presents on the day and year find hereinabove written. THE COMMON SEAL OF the ) ABC LTD., the MORTGAGOR above named ) is hereunto affixed pursuant to the ) Resolution of its Board of Directors ) passed in that behalf, on the ______ ) day of ___________ 200___ in the presence of ) (1) _______________, Managing Director and ) (2) __________________, Director and in ) the presence of:— ) SIGNED, SEALED AND DELIVERED by ) P Q R, the MORTGAGEE ) Above named, in the presence of: — ) R E C E I P T RECEIVED the day and year first above written of and from the within named Mortgagee the sum of Rs. 5,00,000/- (Rupees five laks only) being the full consideration money as aforesaid in the following manner:— Rs. 5,00,000/- I say Received (THE MORTGAGOR) Download Word Document In English. (Rs.15/-) Download PDF Document In Hindi. (Rs.20/-)
- Deed of English Mortgage
Deed of English Mortgage Download Word Document In English. (Rs.35/-) Download PDF Document In Hindi. (Rs.45/-) THIS INDENTURE OF MORTGAGE executed at _______ this ______ day of _______ 200___ between M/S. ABC LTD., a Company incorporated under the provisions of the Companies Act, 1956 having its registered office at _____________________________________________, hereinafter referred to as “THE MORTGAGOR” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include its successors and assigns) of the ONE PART; AND X Y Z of __________, Indian Inhabitant having his address at _________________________________________________________________ (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, legal executors and administrators) hereinafter referred to as “THE MORTGAGEE” of the OTHER PART; WHEREAS: (a) The Mortgagor is the Owner of and well and sufficiently seized and possessed of the property more particularly described in the Schedule hereunder written (hereinafter referred to as “the said property”). (b) The Mortgagor being in need of finance for its business purposes, requested the Mortgagee to provide the said finance. (c) Pursuant to the said request of the Mortgagor, the Mortgagee had agreed to lend and advance and have advanced to the Mortgagor a sum of Rs. 20,00,000/- (Rupees twenty lacs only) against the security of the said property by way of Mortgage for securing repayment of the principal and interest thereof in the manner hereinafter appearing. NOW THIS INDENTURE WITNESSETH that in pursuance of the said agreement and in consideration of the sum of Rs. 20,00,000/- (Rupees twenty lacs only) paid to the Mortgagor by the Mortgagee on or before execution hereof (the receipt whereof the Mortgagor doth hereby acknowledge and of and from the same doth hereby release and discharge the Mortgagee) THEY the Mortgagor doth hereby covenant with the Mortgagee that they shall on the ____________ day of ____________ (hereinafter called “the due date”) pay to the Mortgagee the said sum of Rs. 20,00,000/- (Rupees twenty lacs only) together with interest thereof at the rate of 1.25 percent per month with monthly rest (payable monthly along with the installment of the principal amount) from the date hereof by equal twenty monthly installments, the first of such payments shall be made on the _____________ day of ________ and the subsequent payments shall be made on or before 10th day of each and every following month and will also pay after the due date so long as the said sum of Rs. 20,00,000/- (Rupees twenty lacs only) or any part thereof or interest thereof shall remain unpaid to the Mortgagee in the manner aforesaid AND IT IS HEREBY AGREED AND DECLARED that if any payment of interest is not made on the due date (whether or not demanded) it shall be added to the principal sum and compounded accordingly and shall be chargeable upon the mortgaged property for all intents and purposes recorded herein, however, this provision shall not in any way permit the Mortgagor to allow any interest to fall in arrears nor shall it in anywise interfere with, prejudice, limit or affect the powers of sale or of entry or any other powers or remedies for securing and enforcing payment of the Mortgage debt hereinafter contained. AND THIS INDENTURE ALSO WITNESSETH that the Mortgagor doth hereby grant release convey and assure unto the Mortgagee all and singular the said property more particularly described in the schedule hereunder written with all and singular the buildings, courts, compounds, yards, areas, ways, paths, passages, commons, gullies, sewers, drains, trees, plants, shrubs, wells, waters, water-courses, lights, liberties, privileges, easement, advantages and appurtenances, whatsoever to the said property or any part thereof belonging or in anywise appertaining or usually held or enjoyed or occupied therewith or reputed to belong or be appurtenant thereto AND ALL the estate, right, title, interest, claim and demand whatsoever of the Mortgagor into and upon the said property and every part thereof (hereinafter referred as “the said premises”) TO HAVE AND TO HOLD the said premises hereby granted unto and to the use of the Mortgagee subject to the proviso for redemption next hereinafter contained. PROVIDED always that if the Mortgagor shall pay to the Mortgagee the said sum of Rs. 20,00,000/- (Rupees Twenty lacs only) on the ____________ day of ___________ 2003 together with the agreed rate of interest and in the aforestated manner and also all other moneys by law or under these presents payable by the Mortgagor to the Mortgagee (hereinafter collectively referred to as “the Mortgage debt”) then and in such case the Mortgagee shall at the requests, costs, charges and expenses of the Mortgagor recovery the said property unto and to the use of the Mortgagor and in the meantime and until any default is made by the Mortgagor, the Mortgagor shall remain in the possession or receipt of the rents and profits of the said property and if the Mortgagor shall fail to pay to the Mortgagee on the due date the Mortgage debt then the said property hereby granted shall not be redeemable by the Mortgagor or any other person or persons interested in the equity of redemption thereof at any time thereafter and the Mortgagee shall be entitled to refuse to accept payment of the Mortgage debt unless the Mortgagor or such person or persons shall have given to the Mortgagee three months previous notice in writing making an appointment to pay off the Mortgage debt on any working day during banking hours and shall pay the same accordingly and in conformity with such notice on such appointed day or unless and in the alternative and in default or in lieu of such notice the Mortgagor or such person or persons shall pay to the Mortgagee in addition to the Mortgage debt and at the same time a further sum equivalent to three months’ interest on the Mortgage debt at the rate of 1.25 percent per month with monthly rest and every failure on the part of the Mortgagor or such person or persons to pay off the Mortgage debt strictly in accordance with such notice as aforesaid and on the day thereby appointed shall entitle the Mortgagee to a fresh notice of the same sort or in default thereof to three month’s further interest at the rate aforesaid. PROVIDED ALWAYS AND IT IS HEREBY AGREED that nothing hereinbefore contained shall affect the right of the Mortgagee to call for payment at any time after the due date of the money for the time being due and owing to him on the security of these presents. AND the Mortgagor doth hereby covenant with the Mortgagee that the Mortgagor now has good right and full power to grant the said property hereby granted or expressed so to be and every part thereof unto and to the use of the Mortgagee in manner aforesaid and that if default shall be made in payment of the principal or interest thereof in the manner provided above, the Mortgagee may at any time thereafter enter into and upon the said property or any part thereof in the name of the whole and shall thenceforth quietly possess and enjoy the same and receive the rents and profits thereof without any lawful interruption or disturbance whatsoever by the Mortgagor or any other person or persons lawfully claiming under them, free from all encumbrances whatsoever and further that they the Mortgagor and all other persons having or lawfully or equitably claiming any estate or interest in the said property or any part thereof shall and will from time to time and at all times hereafter upon the request of the Mortgagee and at the cost of the Mortgagor during the continuance of this security and afterwards of the persons requiring the same to do and execute or cause to be done and executed all such acts, deeds and things, whatsoever for further and more perfectly assuring the said property unto and to the use of the Mortgagee in manner aforesaid as shall or may be reasonably required by the Mortgagee and also that the Mortgagor shall from time to time and at all times during the continuance of this security keep the said property hereby granted or expressed so to be in a good and substantial state of repairs and shall pay all the rates and taxes, assessment dues and duties payable in respect of the same and in the event of default it shall be lawful for the Mortgagee [without being bound to do so] to keep the said property in such repairs and to pay such rates, taxes, assessments, dues and duties as aforesaid and the Mortgagor shall and will from time to time on demand pay to the Mortgagee all sums of money so paid or expended together with interest thereon at the rate of 1.25 percent per month (to be compounded monthly) from the time the same shall have been so paid or expended and until so repaid the same shall be a charge upon the said property in addition to the principal sum and interest thereof and also that the Mortgagor will so long as any moneys shall remain due on the security of these presents keep all the messuages and buildings hereby granted or expressed so to be, insured with some reputed Fire Insurance Company in Mumbai against loss or damage by fire in the sum of Rs. 30,00,000/- (Rupees Thirty lacs) at the least and pay all premiums and sums of money necessary for such purpose at least within thirty days from the date hereof and will on demand deliver to the Mortgagee such insurance policy and the receipt for every such payment duly endorsed and assigned in favour of the Mortgagee and that the Mortgagor will not at any time hereafter during the continuance of any such insurance as aforesaid do any act or commit any default whereby the said insurance may be rendered void or voidable or an increased premium become payable therefore and shall and will in case at any time during the continuance of this security the said insurance shall by any means become void or voidable forthwith at his own costs effect a new insurance in lieu of such void or voidable insurance in the name of the Mortgagee and that if default shall be made in insuring or keeping the said premises insured as aforesaid it shall be lawful for the Mortgagee on giving 24 hours notice to insure and keep insured the said property and that the Mortgagor will on demand repay to the Mortgagee every sum of money expended for that purpose by him with interest thereon at the rate aforesaid from the time of the same respectively having been so expended and that until such repayment the same shall be a charge upon the said property and it is hereby agreed and declared that all sums of moneys received under or by virtue of any such insurance as aforesaid shall at the option of the Mortgagee either be forthwith applied in or towards substantially rebuilding, reinstating and repairing the said property or in or towards the payment of the principal money and interest for the time being remaining due on the security of these presents provided always and it is hereby agreed and declared that in the event of any damage happening to the said property hereby granted by fire, tempest, earthquake, lightning, rain or otherwise howsoever or if the Mortgagor is wound up and/or ordered to be wound up or commits any act of bankruptcy or becomes incapable of managing it’s affairs at any time or times after the execution hereof so as to materially impair the security hereby created then and in such case notwithstanding anything herein contained to the contrary the whole of the Mortgage debt shall at once at the option of the Mortgagee become immediately payable as if the due date had then elapsed and in such case all such rights and remedies shall be available to the Mortgagee as would be available to him under the terms of these presents or by law upon default being made in payment of the principal money and interest hereby secured. PROVIDED ALWAYS AND IT IS RECORDED that the principal and interest shall be paid every month regularly as provided above and if the same remains unpaid for a period of three months then and in that case the whole of mortgage debt shall become payable on demand as if the due date had then elapsed and in such case all such rights and remedies including the power of sale shall be available to the Mortgagee as would be available to him under or by virtue of these presents or by law upon default being made in payment of Mortgage debt hereby secured. And it is hereby further recorded that it shall be lawful for the Mortgagee, without any further consent of the Mortgagor, to appoint, such person as he thinks fit to be the Receiver, Agent and Attorney from time to time in the name of the Mortgagor or otherwise to receive the rents and profits of the said property from the present and future tenants and occupiers thereof and the persons liable to pay the same respectively, and in case of the non-payment thereof to use all or any lawful remedies for recovering and obtaining payment of the same as fully and effectually as the Mortgagor could do and the Mortgagor doth hereby direct the present and future tenants and occupiers of the said property and the persons liable to pay the same respectively, to pay the rents and profits of the said property unto such Receiver and to any future Receiver to be appointed as hereinafter mentioned and it is further recorded that the receipt of the Receiver for the time being shall be an effectual discharge to such tenants, occupiers and persons for such rents and profits and the Receiver shall have power to make such allowances to and arrangements with such tenants, occupiers and other persons as he shall think fit and to give notice to quit and bring and take actions and proceedings for ejectment and recovery of possession of any of the said premises on the expiration or determination or forfeiture of any tenancy or otherwise and to relet the same or any part thereof from time to time to such person or persons as he shall think fit at the best rents which may be reasonably obtainable and it is hereby agreed that the Receiver shall out of the rents and profits received by him in the first place pay all ground rents, rates, taxes, charges, assessments and outgoings (including cost of repair and insurance) for the time being payable in respect of the said property and in the next place pay the expense of collection and management and deduct and retain for his own use so much not exceeding ten percent of the total amount received as in the opinion of the Mortgagee the Receiver shall be reasonably entitled to for his trouble and in the next place pay to the Mortgagee by equal payments the interest from time to time accruing due on the security of these presents and shall allow the surplus if any of the said rents and profits to accumulate and pay the same to the Mortgagee in reduction of the principal amount due to him Provided always that the Receiver may be removed and a new Receiver may be appointed from time to time by the Mortgagee and it is recorded that the Receiver shall be deemed to be in all respects the agent of the Mortgagor and that the Mortgagee shall not under any circumstances be answerable for any loss or misapplication of the said rents and profits or any part thereof by reason of any default, neglect or breach of trust of or by the Receiver or for any other loss or damage occasioned by the acts or defaults of the Receiver but such loss, misapplication and damage and every Receiver’s salary shall be wholly borne and paid by the Mortgagor Provided also and it is hereby agreed that the aforesaid power of appointing a Receiver conferred on the Mortgagee shall not be exercised by him unless payment of interest shall be in arrears for three months or unless some event has happened whereby the Mortgagee shall be entitled to exercise his power of sale or the Mortgagor having committed any breach and it is recorded that once the Receiver is appointed by the Mortgagee no one including tenant/occupants shall be entitled to question and/or dispute the appointment and powers of the Receiver. It is hereby recorded, agreed and declared that it shall be lawful for the Mortgagee at any time or times hereafter without any further consent on the part of the Mortgagor to sell the said property or any part or parts thereof by public auction or private treaty in the manner and on the terms and conditions deemed fit and proper by the Mortgagee with power to postpone such sale from time to time and buy the same at any sale by public auction, without being answerable for any loss or diminution in price occasioned thereby and for the purposes aforesaid or any of them to make agreements, execute assurances, give effectual receipts or discharges for the purchase money, and do all other acts and things for completing the sale Provided always and it is hereby recorded that such power of sale shall not be exercised by the Mortgagee unless and until:— (a) if any payment of any money secured by this deed is not paid on the dates on which they are payable, whether demanded or not and the same or any part thereof remains unpaid even after notice in writing (giving three calendar months time to rectify such breach) as required by Section 69 sub-Section (2) of the Transfer of Property Act is served upon the Mortgagor requiring payment of the said amount. (b) if the Mortgagor commits any act of bankruptcy or otherwise becomes incapable of managing it’s affairs or is wound up and/or ordered to be wound up; (c) if the power of appointing a Receiver becomes exercisable; and (d) if the Mortgagor commits default in observing or fulfilling any of its obligations herein and does not make good the default within clear 30 days from the day of service of notice by the Mortgagee specifying the default. And it is hereby declared that any such notice as aforesaid as well as any other notice required to be served upon the Mortgagor shall be deemed to have been duly served on the Mortgagor by delivering a copy of such notice to the Mortgagor or sending the same through Post addressed to it’s last known place or place of abode or by leaving or affixing the same upon or to some part of the Mortgaged premises and shall be sufficient and valid and it is hereby further agreed and declared that without prejudice to all rights conferred on the Mortgagee by Section 69 of the Transfer of Property Act no purchaser upon any sale to be made under the powers hereinbefore contained shall be bound or concerned to see or inquire whether either of the case mentioned in the proviso lastly hereinbefore contained has happened or whether any such default has been made or whether any money remains owing on this security or whether any such notice has been given or the steps before exercising the power of sale are properly exercised and notwithstanding any such irregularity, impropriety or want of necessity such sale shall as far as regards the safety or protection of the purchaser or purchasers be deemed to be within the aforesaid power in that behalf and be valid and effectual accordingly and the remedy of the Mortgagor in respect of any breach of the proviso lastly herein before contained for any irregularity in any such sale shall be in damages only and it is hereby agreed and declared that upon any such sale as aforesaid the receipt of the Mortgagee for the purchase money of the property sold shall be effectual discharge for the money expressed to be received and that no purchaser shall be concerned to see to the application of the purchase money or be answerable for any loss, misapplication or non-application thereof and it is hereby further agreed and declared that the Mortgagee shall hold the moneys to arise from any such sale in the first place, there from to reimburse himself or pay and discharge all the costs, charges and expenses attending to or incurred in or about such sale or otherwise in respect of the said property and in the next place to apply such moneys in or towards satisfaction of all and singular the moneys for the time being owing on the security of these presents and to pay the surplus if any of the said moneys unto the Mortgagor and it is declared that the Mortgagee shall not be answerable or accountable for any involuntary losses which may happen in or about the exercise or execution of the aforesaid powers or any of them and it is hereby further agreed and declared that on the said property or any portion thereof being at any time acquired by any authority or by any other public body for a public purpose the Mortgagee shall be entitled to receive the compensation to which the Mortgagor may be entitled and to apply the same towards repayment of the moneys for the time being due to him under these presents including interest in lieu of notice and all proceedings for ascertainment and apportionment of the compensation payable for the said property shall be conducted by the Mortgagee through his Advocates and the Mortgagor shall repay on demand to the Mortgagee all costs, charges and expenses that may be incurred by the Mortgagee with interest thereon at the rate aforesaid from the time the same having been incurred and that until such repayment the same shall be a charge upon the said property AND IT IS HEREBY FURTHER AGREED AND DECLARED that the Mortgagor will pay all costs, charges and expenses in any manner incurred or made by the Mortgagee of and incidental to these presents or of and incidental to or in connection with this security including the stamp duty and registration charges as well for the assertion or defense of the right of the Mortgagee as for the protection and security of the said property and for the demand realization and recovery of the amount of principal and interest secured by these presents or any part thereof or for the exercise of any of the powers contained in these presents and the same shall be paid on demand by the Mortgagor to the Mortgagee with interest thereon at the rate aforesaid from the time of the same having been so incurred and that until such repayment the same shall be a charge upon the said property hereby granted. Until the repayment of the entire Mortgage debt in full, it is agreed, recorded, confirmed and covenanted by the Mortgagor as under:— (i) They shall keep the said property free from all encumbrances, liens and reasonable doubts. (ii) They shall not without the written consent of the Mortgagee create any lease and/or any kind of third party rights of whatsoever nature in respect of the said property. (iii) They shall not transfer or create any new tenancies in respect of the tenements in the said property. THE SCHEDULE ABOVE REFERRED TO: (Description of the said property) IN WITNESS WHEREOF the parties hereto have executed these presents on the day and year find hereinabove written. THE COMMON SEAL OF the ) ABC LTD., the MORTGAGOR above named ) is hereunto affixed pursuant to the ) Resolution of its Board of Directors ) passed in that behalf, on the ______ ) day of ___________ 200___ in the presence of ) (1) _______________, Managing Director and ) (2) __________________, Director and in ) the presence of:— ) SIGNED, SEALED AND DELIVERED by ) X Y Z, the MORTGAGEE ) Above named, in the presence of:— ) R E C E I P T RECEIVED the day and year first above written of and from the withinnamed Mortgagee the sum of Rs. 20,00,000/- (Rupees Twenty lacs only) being the full consideration money as aforesaid. Rs. 20,00,000/- We say Received (THE MORTGAGOR)
- REVIVAL LETTER TO BE OBTAINED FROM BORROWER BEFORE EXPIRY OF LIMITATION PERIOD
REVIVAL LETTER TO BE OBTAINED FROM BORROWER BEFORE EXPIRY OF LIMITATION PERIOD To X Bank …………….. …………….. …………….. Dear Sir, We refer to the Agreement dated the……………..day of……………..20………entered into by us with you, in respect of the loan granted to us and the charge by way of Hypothecation created by us on our Current Assets as mentioned therein to secure all sums standing at the foot of the Cash Credit Account(s) or other Account(s) with you in respect of the loan, interest and other costs payable on the said loan in terms of the said agreement. 2. We do hereby confirm that all the Security Documents executed by us in favour of you in respect of such loan are subsisting, valid and effective and are fully enforceable against us. 3. We do hereby acknowledge for the purposes of section 18 of the Indian Limitation Act, 1963 and in order to preclude any question being raised on limitation regarding our liability to you for the payment of the outstanding amounts in respect of the present as well as the future indebtedness and liabilities under the said loan together with interest, costs, charges, expenses and other moneys due and payable in terms of the said Agreement, our liability shall remain in full force with all relative securities, agreements and obligations as mentioned therein. For and on behalf of ....................... Ltd. Managing Director Download Word Document In English. (Rs.5/-) Download PDF Document In Hindi. (Rs.5/-)
- RELEASE DEED
RELEASE DEED This Indenture made at this……………..day of.....................20……………..between A, son of……………..resident of.....................I hereinafter referred to as the "Mortgagee" of the ONE PART and B, son of……………..resident of……………..hereinafter referred to as the "Mortgagee" of the, OTHER PART. WHEREAS by an Agreement dated……………..and registered in the office of Sub Registrar of Assurances at……………..under SI. No. .................... of ……………..:,…………….. 20 ……………..the Mortgagor deposited title deeds relating to the piece or parcel of land, described in the Schedule thereunder as also in the Schedule I hereunder written in consideration of the sum of Rs . ……………..paid by the Mortgagee to the Mortgagor and the Mortgagee was to hold the said title deeds as an equitable security for the repayment of Rs …………….. and interest at the rate of ……………..% p.a. by the Mortgagor to the Mortgagee; AND WHEREAS the Mortgagor has paid to the Mortgagee interest from time to time due under the said equitable mortgage upto date AND WHEREAS the Mortgagee has desired the Mortgagor to pay principal sum due to him as aforesaid, which the Mortgagor has agreed to pay subject to Mortgagee executing Release Deed as is hereinafter contained. NOW THIS INDENTURE WITNESSETH THAT in consideration of……………..the sum of Rs ……………..(Rupees……………..) to the Mortgagee by the Mortgagor in full and final payment on the equitable mortgage dated……………..(the receipt whereof the said Mortgagee doth hereby admit and acknowledge), the Mortgagee doth hereby release and discharge the title deeds and writing specified in the Schedule 11 hereto and also the piece or parcel of land described in the Schedule I hereunder written from the equitable security created thereon in respect thereof by the said mortgage dated the……………..and from all claims, demands and rights in respect thereof or in any wise relating to and the said Mortgagee hereby covenant with the Mortgagor that he has not done or knowingly suffered anything to be done whereby the said property or any part thereof may be encumbered. IN WITNESS WHEREOF the said Mortgagee has set his hands at.....................the day and year first hereinabove written The Schedule I above referred to The Schedule II above referred to WITNESSES Signed and delivered by the withinnamed 1 . 2. Receipt Received this……………..day of……………..20…………….. from the withinnamed the sum of Rupees……………..only being the full consideration money payable to me. WITNESSES I say Received 1 . ..................... 2. Mortgagee Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)
- Transfer of Mortgage
Transfer of Mortgage THIS DEED OF TRANSFER OF MORTGAGE executed at _______ this _________ day of _________ 200__ Between PQR of _______, Indian Inhabitant, having his address at _________________________________ ______________, hereinafter referred to as “THE TRANSFEROR” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, executors and administrators) of the FIRST PART; M/S. ABC LTD., a Company incorporated under the provisions of the Companies Act, 1956 having its registered office at ______________________________________________, hereinafter referred to as “THE MORTGAGOR” (which expression shall unless it be repugnant to the context or meaning thereof mean and include its successors and assigns) of the SECOND PART; AND XYZ of ______________, Indian Inhabitant having his address at ___________________________________________ hereinafter referred to as “THE TRANSFEREE” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, executors administrations and assigns) of the THIRD PART; WHEREAS:— (a) The Mortgagor is the Owner of immoveable property more particularly described in the Schedule hereto below (hereafter referred to as “the said property”) (b) By a Registered Deed of Mortgage dated _________ registered with the sub-Registrar of Assurances on ______ day of ______ under No. ________ and executed by the Mortgagor in favour of the Transferor (therein referred to as “the Mortgagee”), the Mortgagor has created mortgage of the said property in favour of the Transferor with a view to securing a sum of Rs. 20,00,000/- (Rupees twenty laks only) lent and advanced by the Transferor to the Mortgagor along with accruing interest thereon and subject to the provision for redemption thereof by the Mortgagor as more specifically provided in the said Deed of Mortgage. The Mortgagor has continued to be in possession of the said property. (c) As on ______________________, a sum of Rs. ____________/- (Rupees ________________ only) being the principal sum and a sum of Rs. _________/- (Rupees __________________ only) towards arrears of interest aggregating in all to Rs. _______/- (Rupees _______________ only) are due and payable by the Mortgagor to the Transferor on the security of the said property under the said Deed of Mortgage dated 1-5-2001. (d) At the request of the Mortgagor, the Transferor has agreed to receive from the Transferee, on behalf of the Mortgagor the aforesaid sum of Rs. ________/- (Rupees __________________ only) in fulfillment of the Mortgagor’s obligation under the said Deed of Mortgage dated __________ and to assign the Mortgage debt and transfer the mortgaged property being the security comprised under the said Indenture of Mortgage dated ____________ to the Transferee in the manner appearing hereinafter. NOW THIS INDENTURE WITNESSETH that in pursuance of the said request of the Mortgagor and in consideration of the sum of Rupees ________ (Rupees ____________________ only) received by the Transferor from the Transferee on or before execution hereof and paid at the request of the Mortgagor (the receipt whereof the Transferor doth hereby admit and acknowledge and of and from the same doth hereby release and discharge the Transferee), the Transferor Doth hereby assign and the Mortgagor doth hereby confirm unto the Transferee all and singular the said principal sum of Rupees ________ and Rupees _________ for arrears of interest making in the aggregate Rs. _____________ being the mortgage debt secured under the aforesaid Indenture of Mortgage dated _____________ together with all interest henceforth to become due in respect of the same and the full benefits of the covenants, rights, powers and provisions contained therein for securing the payment of the said principal sum and interest upon the said mortgaged property together with full power to demand, sue for and give effectual receipts and discharges for the same in the name of the Transferor, his heirs, executors and administrators AND ALL the right title interest property claim and demand of him the Transferor against the Mortgagor in respect of the said mortgage debt and the mortgaged property and security therein TO HAVE RECEIVE and TAKE the said principal sum and interest and all other the several premises hereby assigned or expressed so to be unto and to the use of the Transferee absolutely AND THIS INDENTURE ALSO WITNESSETH that in pursuance of the said agreement and for the consideration aforesaid He the Transferor doth hereby grant and the Mortgagor doth hereby grant and confirm unto the Transferee ALL AND SINGULAR the land here determents and premises comprised in and assured by the said hereinabove recited Indenture of Mortgage or expressed so to be and more particularly described in the Schedule hereunder written AND ALL the estate right, title, interest, property claim and demand whatsoever of him the Transferor against the Mortgagor in and to the said premises and every part thereof TO HAVE and TO HOLD the said land here determents and premises hereby assured or expressed so to be unto and to the use of the Transferee subject to such right or equity of redemption as is now subsisting in the Mortgagor under or by virtue of the said hereinabove recited Indenture of Mortgage AND the Transferor doth hereby for himself, his heirs, executors and administrators covenant with the Transferee that he Transferor hath not at any time heretofore done, executed or knowingly suffered or been party or privy to anything whereby the said principal sum and interest or the land here determents and premises hereby assigned and granted or expressed so to be or any part thereof are is can or may be released affected or encumbered in anywise howsoever AND IT IS HEREBY AGREED between the Mortgagor and the Transferee that the due date comprised in the said hereinabove recited Indenture of Mortgage which has presently expired is hereby extended to the _________ day of _______and that the Mortgagor will pay all interest and will observe and perform all the covenants and conditions contained in the said hereinabove recited Indenture of Mortgage AND the Mortgagor doth hereby further covenant with the Transferee that He the Mortgagor now hath in himself good right and lawful authority to grant and confirm the said lands, here determents and premises unto and to the benefit of the Transferee in manner aforesaid AND ALSO that if default shall be made in payment of the Mortgage debt or interest or any part thereof respectively on the respective days on which the same shall be payable as hereinbefore mentioned then and in such case it shall be lawful for the Transferee to enter into and upon the said land, here determents and premises and thenceforth to quietly possess and enjoy the same and receive the rents and profits thereof without any interruption claim or demand from or by the Mortgagor or from any person or persons claiming under them AND that freed and discharged from or otherwise by the Mortgagor well and sufficiently saved, harmless and indemnified of from and against all estates, encumbrance, claims and demands whatsoever AND FURTHER that THEY the Mortgagor and all other persons lawfully or equitably claiming any estate right or interest in or to the said land here determents and premises or any part thereof shall and will from time to time and at all times (until foreclosure or sale at the cost of the Mortgagor and afterwards of the person/s requiring the same) execute and do every such assurance and thing for the further or more perfectly granting and confirming the said land here determents and premises unto and to the use of the Transferee as by the Transferee shall be reasonably required. THE SCHEDULE ABOVE REFERRED TO: (Description of the said property) IN WITNESS WHEREOF the parties hereto have executed these presents on the day and year first hereinabove written. SIGNED, SEALED AND DELIVERED by ) the within named PQR the TRANSFEROR ) in the presence of:— ) THE COMMON SEAL OF the within named ) ABC LTD., the MORTGAGOR ) is hereunto affixed pursuant to the ) Resolution of its Board of Directors ) passed in that behalf, on the ____________ ) day of ___________ 200__ in the presence of ) (1) _______________, Managing Director and ) (2) __________________, Director and in ) the presence of:— ) SIGNED AND DELIVERED by ) the within named XYZ, the TRANSFEREE ) in the presence of:— ) RECEIPT RECEIVED the day and year first herein above written of and from the within named Transferee the sum of Rs. ____________/- (Rupees _________________ only) by cheque No.__________ dated __________ drawn on _______________________ being the agreed amount to be paid by them to me as within mentioned. Rs. ___________/- 1. 2. I SAY RECEIVED (THE TRANSFEROR) WITNESSES: Download Word Document In English. (Rs.15/-) Download PDF Document In Hindi. (Rs.15/-)
- Deed of Re-conveyance of Mortgaged Property
Deed of Re-conveyance of Mortgaged Property THIS DEED OF RECONVEYANCE OF MORTGAGED PROPERTY made at ________ this ______ day of _________ Two thousand ____ BETWEEN ABC of ________, Indian Inhabitant, having his address at _______________________________, hereinafter called “THE MORTGAGEE” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include his heirs, executors and administrators) of the ONE PART and THE XYZ HOTELS LTD., a company registered under the Companies Act, having it’s registered address at ___________________________ ____________________________, hereinafter called “THE MORTGAGOR” (which expression shall unless it be repugnant to the context or meaning thereof be deemed to mean and include its administrators, successors and assigns) of the OTHER PART; WHEREAS:— (a) The Mortgagor is the owner of the property more particularly described in the Schedule hereunder written and hereinafter referred to as “the said property”. (b) By a Deed of Mortgage dated __________ registered in the office of the Sub-Registrar of Assurances at __________ under Serial No._________ of ___________, the Mortgagor created mortgage of the said property in favour of the Mortgagee for securing repayment of amounts advanced by the Mortgagee to the Mortgagor as mentioned in the said Deed of Mortgage. (c) The Mortgagor has paid off all the dues of the Mortgagee under the said Deed in full and the Mortgage debt stands satisfied in full. (d) In the circumstances, the Mortgagor has requested the Mortgagee to execute the re-conveyance of Mortgaged property to which the Mortgagee has agreed as appearing hereinafter. NOW THIS DEED OF RECONVEYANCE OF MORTGAGED PROPERTY WITNESSETH that in consideration of the said sum of Rs._____________/- (Rupees _______________ only) together with all accrued interest thereof paid to the Mortgagee by the Mortgagor in full of all principal moneys and interest comprising of the entire Mortgage debt due and owing to the Mortgagee on the security of the said equitable Mortgage recited above (the receipt whereof the Mortgagee doth hereby admit and acknowledge and of and from the same doth hereby acquit, release and forever discharge the Mortgagor) HE the Mortgagee doth hereby grant, convey and release forever unto the Mortgagor all and singular the said property described in the Schedule hereunder written and referred in hereinbefore recited Deed of Mortgage dated _________ AND all the estate of the Mortgagee TO HAVE AND TO HOLD the said property hereby granted, conveyed and released or otherwise assured or intended so to be with their rights, easements and appurtenances unto and to the use of the Mortgagor forever freely and absolutely discharged of and from all the principal money and interest intended to be secured by the said Deed of Mortgage dated _________ and of and from all actions, suits, accounts, reckonings, claims and demands whatsoever either at law or in equity for upon on account or in respect of the said Deed of Mortgage dated _______ or of any act, deed, matter or thing in anywise relating to the said property AND the Mortgagee for himself doth hereby covenant with the Mortgagor that the Mortgagee hath not at any time here to before made, done or executed or knowingly or willingly permitted suffered or been party or privy to any act, deed or thing whereby or by reason or means whereof the said property hereby granted, conveyed and released or intended so to be or any of them or any part thereof are is can shall or may be impeached, affected or encumbered in title, estate or otherwise howsoever AND it is recorded that the Mortgagor has on or before execution hereof returned all the title deeds in respect of the said property to the Mortgagee. IN WITNESS WHEREOF the said Mortgagee hath hereunto set his hand the day and year first hereinabove written. THE SCHEDULE OF THE PROPERTY: (Give detailed description of the property) SIGNED, AND DELIVERED by the ) With in named Mortgagee ABC ) In the presence of ) 1. 2. NOTE: Suitable changes should be made depending the nature of the mortgage. Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)
- SIMPLE MORTGAGE BY MANAGER OF JOINT HINDU FAMILY FOR LEGAL NECESSITY
SIMPLE MORTGAGE BY MANAGER OF JOINT HINDU FAMILY FOR LEGAL NECESSITY This mortgage is made at…………..on the…………..day…………..of…………..20…… between X etc., Y etc., Z etc. and A etc. acting through X, the manager of joint Hindu family, hereinafter called the mortgagors, of the ONE PART and B, son of resident of ..................... hereinafter called the mortgagee of the other part. WHEREAS the said X, Y, Z and A form a joint Hindu family governed by the Mitakshara school of Hindu law and A is the manager or karta of the said joint Hindu family. AND WHEREAS X, Yand Zare the major sons of A; AND WHEREAS the property bearing…………..Plot No.................Survey No…………situate, lying and being at village………….. Taluka …………..Dist…………..within the Registration District and sub dist. of hereinafter called the said property, is owned by the said joint Hindu family; AND WHEREAS the joint Hindu family carries on the business of.............at………….. under the name and style of M/S . AND WHEREAS the mortgagors are in need of Rs…………..for purposes of their business, marriage of daughter of Shri X, and repairing of the joint Hindu family properties, which they are not able to arrange and therefore the mortgagors requested the mortgagee to lend Rs …………..for the aforesaid purposes; AND WHEREAS the mortgagee after satisfying about the title of the said property and bona fide requirement of the loan amount for a legal necessity, has agreed to lend the said sum at the interest of per cent per annum on the mortgagors securing the repayment of the same by mortgage of the said property. NOW THIS DEED WITNESSETH that in pursuance of the said agreement and in consideration of the sum of Rs…………..at or before the execution of these presents paid to the mortgagors by the mortgagee (the receipt whereof the mortgagors do hereby admit and acknowledge), hereinafter called the mortgage amount, the mortgagors covenant with the mortgagee that they will pay to the mortgagee on the.................day of………….. (hereinafter called the due date) the said sum of Rs…………………with interest for the same in the meantime at the rate of…………………% per annum from the date of these presents by quarterly payments, first of such payments shall be made on the ..................day…………………now and the subsequent payment shall be made at the expiration of three months thereafter, so long as the said sum of Rs …………………or any part thereof shall remain unpaid to the mortgagee, interest for the same at the rate mentioned above. And the mortgagors further covenant with the mortgagee that if any instalment of interest is not paid on the due date, the mortgagors will be liable to pay interest on the said instalment in default at the same rate as aforesaid from the date of default until payment of such instalment as and by way of compound interest provided that the payment of compound interest will not prejudice or affect the mortgagee's rights or remedies vested in him by law or by this deed. And it is also agreed that in the event of the mortgagors committing default in payment of any four instalments of interest or in payment of the principal and interest on the due date or committing breach of any other term of these presents, the whole amount of principal then due with interest thereon, will at the option of the mortgagee become payable forthwith as if the said due date has expired. AND THIS DEED FURTHER WITNESSETH that in consideration aforesaid, the mortgagors hereby transfer by way of simple mortgage to the mortgagee the said property described in the Schedule hereunder written belonging to the mortgagors with the intent that the said property shall remain and to be charged as security for the payment to the mortgagee of the said mortgage money, interest and costs payable under these presents. 2. The mortgagors hereby covenant with the mortgagee as follows: a) That the mortgagors are absolutely seized and possessed of or otherwise well and sufficiently entitled to the said property and the said property is free from encumbrances. (b) That during the pendency hereby created and until repayment of mortgage amount, the mortgagors, will get insured and keep insured the said property against loss and damages due to fire and other accident for a sum of Rs . with Insurance Co. Ltd .................. Bombay in the joint names of mortgagors and mortgagee and shall hand over the insurance policy to the mortgagee. (c) That in the event of the mortgagors failing to pay the said mortgage amount, interest and cost when the same shall become due and payable under these presents, the mortgagee will be entitled to have the said property sold through the court having jurisdiction and to realise and receive the said mortgage amount, interest and cost out of the net sale proceeds of the said property. (3) Provided always that it is hereby agreed between the parties that if the mortgagors pay to the mortgagee the sum of Rs . with interest on the due date, then the mortgagee shall upon the request and at the costs, expenses and charges of the mortgagors, recanve~ the sald propertl herebl qranted or exgressed so to be unto and to the use of the mortgagors or as they direct. (4) It is hereby declared that for the purposes of these presents, the expressions "mortgagors" and "mortgagee" shall include their or his legal heirs, administrators, executors or assigns. IN WITNESS WHEREOF the parties hereto have hereunto put their signatures, the day and year first above written. The Schedule above referred to WITNESSES Signed and delivered by X, Y, Z and A, the withinnamed mortgagors Signed and delivered by B, the withinnamed mortgagee Download Word Document In English. (Rs.15/-) Download PDF Document In Hindi. (Rs.15/-)
- MORTGAGE BY CONDITIONAL SALE
MORTGAGE BY CONDITIONAL SALE This Deed of sale is made at………………this………………day of...............20 ………………between A, son of………………resident of.................... hereinafter called the "Vendor" of the ONE PART and A son of………………resident of……………… hereinafter called the"Purchaser" of the OTHER PART WHEREAS the Vendor is absolutely seized and possessed of or otherwise well and sufficiently entitled to the land and premises bearing Plot No ………………Survey No …………Municipal No ………………situated, being and lying at village………………Taluka…………Dist……... within the Registration District of………………and more particularly described in the Schedule hereunder written. AND WHEREAS the Vendor is in need of Rs . ………………for his business purposes and requested the purchaser to lend him the said sum, which the purchaser has agreed to do on the Vendor executing these presents. NOW THIS DEED WITNESSETH THAT in pursuance of the agreement and in consideration of the sum of Rs ……………….paid by the purchaser to the Vendor (the receipt of which the Vendor hereby acknowledges) the Vendor hereby transfers and delivers vacant possession of all that the land and premises more particularly described in the Schedule hereunder written, together with all the rights and privileges appurtenant thereto unto the said Purchaser to hold the same for ever subject to the condition that if and when the Vendor repays the said sum of Rs ………………with interest thereon at the rate of………………% per annurn compoundable annually, to the Purchaser on the………………day of 20 hereinafter referred to as the due date, the grant and transfer of the said property as hereinbefore provided shall become void and in that event the purchaser shall reconvey the said house and premises free from all encumbrances and redeliver vacant possession to the vendor together with the documents of title relating to the said house and premises and this deed and in case of default in payment of the said amount with interest aforesaid on the said date, the transfer hereby made shall become an absolute sale in favour of the Purchaser (2) The vendor hereby covenants with the Purchaser that he is the absolute owner of the said house and premises and that the same is free from any encumbrance, charge or lien whatsoever. (3) The purchaser shall keep the said house in tenantable condition and he shall bear the expenses for repairs and maintenance of the said house. The mortgagor shall also defray all taxes, assessments, land revenue and other charges payable in respect of the said house and premises to the State of………………Municipal corporation of………………or any other public or local authority. All the expenses incurred and payments made by the purchaser will be added to the said money and shall be recoverable with interest by the purchaser from the vendor (4) The Purchaser covenants with the vendor that he shall not let out the said house to any person or persons and he shall keep the said house in his own possession. (5) If the vendor makes default in paying the said money with interest on the due date as aforesaid, the purchaser shall have the right to foreclose the vendors equity of redemption IN WITNESS WHEREOF the parties hereto have hereunto set their hands the day and year first hereinabove written. The Schedule above referred to WITNESSES Signed and delivered by the withinnamed A 2 Signed and delivered by the withinnamed B Download Word Document In English. (Rs.10/-) Download PDF Document In Hindi. (Rs.10/-)