Deed Of Charge (for A Debt) Deeds Mortgages And Pledges 1621 - Legal Draft

............between Mr 'A' of .......... of the one part and Mr 'B' of .............. of the other part
WHEREAS
The Parties hereto were coparceners of their Hindu Joint Family and as such were entitled to certain immoveable properties.
By deed of partition made on the .........day of ............. between the Parties here to and registered under serial number ............. at the office of the Sub Registrar at ........     The said properties were partitioned between the Parties hereto in the manner therein mentioned both the parties hereto are liable to pay the same equally. At the time of the said deed of partition it was agreed between the Parties hereto that each of them will discharge his liability in respect of the said debt and indemnify and keep indemnified the other against the same. In order to secure liability of each party it is agreed that the Parties should execute this mutual agreement creating a charge on the property of one party as security for the liability of the other. Now it is agreed by and between the parties hereto as follows:
Mr' A the party of the first part agrees that the payment by him of the half share of the said debt due to Mr 'X' with interest thereon is here charged and will be a charge on the property described in the First Schedule hereunder written coming to the share of 'A' under the said deed of partition, in favour of the said 'B' party of the second part and in the event of 'A' failing to pay the said half share with interest and cost to the said 'X' and the said 'B' being required to pay the same the said 'B' will be entitled to enforce the charge by sale of the said property described in the first schedule hereunder written through a Competent Court and to realise the amount so paid by 'B' together with all costs charges and expenses incurred by him to realise the same . Similarly the said 'B' hereby agrees that the payment of the other half share of the said debt to Mr 'X' with interest thereon and costs by him is hereby charged and will be a charge on the property described in the Second Schedule hereunder written coming to the share of the said 'B' under the said Deed of partition in favour of the said 'A' party of the first part and in the event of 'B' failing to pay the said half share with interest and cost to the said Mr 'X' and the said 'A' being required to pay the same, the said 'A' will be entitled to be enforce the said charge by sale of the said property described in the Second Schedule hereunder written through a Competent Court to realise the amount so paid by 'A' together with all costs charges and expenses incurred by him to realise the same.
THE FIRST SCHEDULE ABOVE REFERRED (description of the plot)

THE SECOND SCHEDULE ABOVE REFERRED TO (description of the flat)
Signed and delivered by the
withinnamed Vendor Mr 'A' and 'B'