This Deed of Mortgage
made at ...................... this ................ day of ...................
Between X, son of ............................... resident of
............................ hereinafter called as a mortgagor of the ONE PART
and Y, son of ...................... resident of .................. hereinafter
called as a mortgagee of the OTHER PART.Whereas the mortgagor
is absolutely seized and possessed of or otherwise well and sufficiently
entitled to the house bearing municipal no................ situated on
........................ Road, ....................... more particularly
described in the Schedule hereunder written;And Whereas the
mortgagor has requested the mortgagee to lend him a sum of Rs.
........................ which the mortgagee has agreed on the mortgagor
mortgaging his property.Now This Deed
Witnesseth That in pursuance to the said agreement and in consideration of the
sum of Rs. .................. at or before the execution of these presents paid
by the mortgagee to the mortgagor (the receipt whereof, the mortgagor doth
hereby admit and acknowledge and of and from the same hereby release and
discharge the mortgagee), the mortgagor hereby covenants with the mortgagee
that he will pay on the ..................... day of .................
(hereinafter called "the said date"), the said sum of Rs.
................. with interest @ ........ % per annum from the date of these
presents till the repayment of the said sum in full, every quarter the first
installment of interest to be paid on the ................... day of ..........
2000 and each subsequent installment on the ................ day of July,
October, January and April of each succeeding year until the said sum is repaid
in full.And This Deed Further
Witnesseth ThatIn consideration
aforesaid, the mortgagor doth hereby transfer by way of mortgage his house
bearing municipal no ................. situated on .............. Road .
...................... and more particularly described in the Schedule
hereunder written as a security for repayment of the said sum with interest @
................ per annum with the condition that the mortgagor, his heirs,
executors, administrators or assigns shall on the said the pay to the
mortgagee, his heirs, executors, administrators or assigns the said sum of Rs
.............. together with interest thereon at the rate mentioned above, the said
mortgagee, his heirs, executors, administrators, or assigns shall at any time
thereafter upon the request and at the cost of the mortgagor, his heirs,
executors, administrators or assigns reconvey the said house, hereinbefore
expressed to be mortgaged unto or to the use of the mortgagor, his heirs,
executors, administrators or assigns or as he or they shall direct.And It Is Hereby
Agreed And Declared that if the mortgagor does not pay the said mortgage amount
with interest when shall become due and payable under these presents, the
mortgagee shall be entitled to sell the said house through any competent court
and to realise and receive the said mortgage amount and interest, out of the
sale proceeds of the house.And It Is Further
Agreed And Declared by the mortgagor that during the period, the mortgage
amount is not paid and the said house remains as a security for the mortgage
amount, the mortgagor shall insure the said house and take out an insurance
policy in the joint names of the mortgagor and mortgagee and continue the said
policy in full force and effect by paying premium and in case of default by the
mortgagor to insure or to keep the insurance policy in full force and effect,
the mortgagee can insure the said house and the premium paid by the mortgagee
will be added to the mortgage amount, if not paid by the mortgagor on demand.And It Is Further
Agreed That the mortgagor can grant lease of the said house with the consent of
the mortgagee in writing.And It Is Further
Agreed by the Mortgagor that he shall bear stamp duty, registration charges and
other out of pocket expenses for the execution and registration of this deed
and reconveyance deed but however each party will bear cost and professional
charges of his Solicitor/Advocate.IN WITNESS WHEREOF
the parties have put their hands the day and year first hereunder written.The Schedule above
referred toSigned and delivered
by X the within named mortgagorSigned and delivered
by Y the within named mortgageeWITNESSES;1.2