Power Of Attorney To Raise Moneys And Mortgage Property Legal Draft Template

To All To Whom These

Presents Shall Come I. Mr. ... residing at ... .Whereas I am the

owner of an immovable property situate at ... and more particularly described

In the Schedule hereunder written.and Whereas as I am

in need of money for my business I propose to raise a loan of Rs. ... on the

security of a mortgage of the said property.And Whereas I am,

however, unable to attend to the matters An respect of raising a loan and mortgaging

the said property and 1, therefore, wish to appoint Mr. ... as my true and

lawful attorney or agent to carry out the said transaction and which he has

agreed to do.NOW KNOW YOU ALL AND

THESE PRESENTS WITNESS that, I Mr hereby appoint and constitute the said

Mr. ..... to be my true and lawful attorney or agent with full authority and

power; to do and execute the following acts. deeds and things for me, in my

name and on my behalf viz.1.

To

negotiate with any Bank in ... for a loan of Rs. ... on the security of a

mortgage of the said property described in the schedule hereunder written and

on such terms and conditions as to interest payable, period of repayment etc.

as the said attorney shall think proper and in my Interest.2.

To

execute, on the loan being sanctioned by the Bank, a promissory note and other

Incidental documents as may be required by the Bank.3.

To

receive the amount of the loan and give valid receipt or discharge for the

same.4.

To

credit the amount of the loan to my Bank Account with the Bank ... after

deducting therefrom all expenses incurred as herein provided.5.

To

create a first mortgage on the said property described in the Schedule

hereunder written In such form as the Bank may require.6.

In

case of an equitable mortgage, to deposit the title deeds relating to the said

property with the Bank with intent to create a security on the said property

for repayment of the loan with interest and cost and to execute such writings

or documents evidencing such deposit as the Bank may require.7.

In

case of an English Mortgage or simple mortgage to execute a Deed of Mortgage

containing such terms and conditions as the Bank may require and the said

attorney may think proper and usual in respect of the said property.8.

To

lodge the document of mortgage for registration In the office of the Sub

Registrar and to admit execution thereof.9.

To

pay the stamp duty, registration charges in respect of such document or

documents and to pay the fees of the Banks as well as of the advocate engaged

by the attorney If any.10.

To

engage an advocate or solicitor for advice and preparation and approval of the

documents to be executed and for help in investigation for making out a

marketable title to the said property.11.

To

apply for and obtain Income Tax Certificate or Certificates under See. 230A of

the Income Tax Act for registration of any document or documents executed by

the said attorney pursuant to these presents if required.12.

To

do all other acts and things required to be done incidental to the powers

hereinbefore contained.AND I agree to ratify

all acts and things lawfully done by the said attorney pursuant to the powers

hereinbefore contained.IN WITNESS WHEREOF I,

Mr.... have put my hand this ... day of...,2000.THE SCHEDULE ABOVE,

REFERRED TOSigned and delivered

by the withinnamed Mr. in the presence of