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This deed of Mortgage made the
........................................ day of
......................................... Between of etc., (hereinafter called
"the
Mortgagor") of the one part and of etc. (hereinafter called
"the Mortgagee"), of the other part.
Whereas
the Mortgagor is absolutely seized and possessed of or
otherwise is well and sufficiently entitled to the property
intended to be hereby mortgaged which is free from all
encumbrances and attachments, AND WHEREAS the Mortgagee has
agreed to lend and advance a sum of Rs....................... to the Mortgagor at
his request upon having the repayment thereof, with interest
at the rate hereunder stated and secured in the manner
hereinafter expressed; NOW THIS DEED WITNESSES, that in
pursuance of the said agreement and in consideration of the
sum of Rupees….. paid to the morgagor by the Mortgagee
simultaneously with the execution of these presents the
receipt whereof the Mortgagor do hereby admit, acknowledge and
confirm, the Mortgagor do hereby agree with the Mortgagee that
the Mortgagor will on or before the
................................................ day of...................................... pay or
cause to be paid to the Morgagee the sum of Rupees..................................... with
interest for the same in the meantime at the rate of Rs........................... per
cent per annum, such interest to be paid monthly and every
month on the of each following month without any delay or
default AND This deed further witnesseth that as a security
for the repayment of the said loan with interest, the said do
hereby charge, assure land mortgage, by way of simple
mortgage, unto and in favour of the said ALL THAT, etc.,
(describe the property). (Further agreement allowing
mortgagee’s remedies in case of failure to pay the mortgage
money, as in previous precedent).
Usual
covenants as to title, right to mortgage and non-encumbrances
as in previous precedent.
The
Schedule above referred to
IN
WITNESS, etc.,
Signed,
sealed & delivered.
NOTE:- Stamp duty 3% on the loan amount under
Article 35 (b) of Schedule IA Registration fees 1% upto
Rs.50,000 and 0.50% there after. |