Deed Of Mortgage By Way Of Additional Security Deeds Mortgages And Pledges 1634 - Legal Draft

............ and Co. Pvt. Ltd., a company registered under the Companies Act 1956 and having its registered office at ............. hereinafter referred to as the Mortgagor of the One Part and Bank of ...............a banking Corporation constituted under the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1970, having its Head Office at ..................hereinafter referred to as the Mortgagee of the other part.
WHEREAS
Mortgagor and the Mortgagee and registered at the office of the Sub Registrar at ............under Serial No .........of Book No. 1 on the .........day of ......the Mortgagor in consideration of the sum of Rs ...............lent and advanced by the Mortgagee to the Mortgagor granted and conveyed to the Mortgagee the land and premises situate at ...............and more particularly described in the Schedule thereunder written ( and which is also more particularly described in the First Schedule hereunder written) by way of security for the said loan and interest thereon and all other moneys due and payable under the said Deed with the benefit of all powers, provisions covenants, terms and conditions therein mentioned but subject to the covenant for redemption therein contained.

The loan is still subsisting and so also the said security but in the opinion of the Mortgagee the said security that is the property described in the First Schedule hereunder written has very much depreciated in value and has become inadequate to secure the said mortgage debt in full. The Mortgagee has therefore called upon the mortgagor to provide additional security failing which the mortgagee proposed to enforce the said security. The Mortgagor is also absolutely seized and possessed of or otherwise sufficiently entitled to another piece of land with a structure thereon and which is situate at ................ and which is more particularly described in the Second Schedule hereunder written and which the mortgagor offered as additional security for the said mortgage debt.

Now therefore this Deed Witnesseth that pursuant to the said agreement and in the premises and in consideration of the sum of Rs ............lent and advanced by the Mortgagee to the Mortgagor under the said Deed of Mortgage and all other of the Mortgage debt due and payable by the Mortgagor to the Mortgagee under the said Deed of Mortgage herein before recited he the Mortgagor doth hereby grant and transfer unto the Mortgagee all that the said piece of land with the buildings and structures standing thereon and to be erected thereon or any part thereof situate at ........ and more particularly described in the Second Schedule hereunder written together with all and singular all the things attached thereto and standing thereon and all the right, liberties, privileges, easements, advantages and appurtenances whatsoever to the said land and premises or any part thereof belonging to or in any wise, appurtening thereto or usually held or enjoyed or occupied therewith or reported to belong or be appurtenant thereto. AND all the estate, right title and interest of property, claim or demand whatsoever of the Mortgagor thereto and every part thereof To HOLD the said land and other premises hereby granted or expressed so to be unto and to the use of the Mortgagee absolutely as and by Way of an additional security for repayment of all the moneys payable by the Mortgagor to the Mortgagee under and by virtue of the said Deed of Mortgage hereinbefore recited, but subject to the provisions for redemption hereinafter contained.
AND it is hereby agreed and declared that if the Mortgagor, pursuant to the covenant in that behalf contained in the said Deed of Mortgage, pay to the Mortgagee the said sum of Rs ............. with interest for the same at the rate and in the manner mentioned in the said Deed of Mortgage and also all other moneys costs charges or expenses by law or under the said Deed of Mort g age payable by the Mortgagor to the Mortgagee then and in such case the mortgagee shall upon the request and costs of the Mortgagor retransfer the said land and premises described in the Second Schedule hereunder written and hereby granted and transferred or expressed so to be along with the land and premises described in the First Schedule hereunder written unto the Mortgagor or the person entitled to such retransfer or as he may direct.
AND it is hereby further agreed and declared that all the powers and provisions covenants terms and conditions applicable to the land and premises comprised in the said Deed of Mortgage as security and exer cisable by the Mortgagee under the said Deed of Mortgage shall be applicable to and exercisable by the Mortgagee in respect of the said land and premises here by granted and transferred as if the said land and premises described in the Second Schedule hereunder and other premises hereby granted were comprised in or included in the said Deed of Mortgage hereinabove recited or as if all the powers and provisions covenants terms and conditions contained in the said Deed of Mortgage were incorporated in these Presents in relation to the said land and other premises hereby granted to the Mortgagee.
AND it is hereby agreed and declared that for all purposes and particularly for the purpose of enforcing the security created by the said Deed of Mortgage this Deed will be treated as part and parcel of the said Deed of Mortgage.
AND the Mortgagor doth hereby covenant that he is absolutely seized and possessed of the said land and premises described in the Second Schedule hereunder and he has a right to grant and transfer the same as aforesaid; that the said land and premises described in the Second Schedule hereunder are free and clear and freely, and clearly and absolutely forever released and discharged or otherwise by the Mortgagor and well and sufficiently saved, defended, kept harmless and indemnified of and from land against all former and other estate title charges encumbrances whatsoever had made executed, occasioned or suffered by the Mortgagor or any other person or persons lawfully claiming or to claim by from under or in trust for the mortgagee. And the Mortgagor and all other persons having or lawfully claiming any estate or interest in the said Mortgaged premises or any of them or any part thereof shall and will from time to time and at all times hereafter upon the request and at the costs of the Mortgagor during the continuance of this security and afterwards of the person requiring the same do and execute or cause to be done and executed all such acts and deeds and things whatsoever for further and more perfectly assuring all or any of the said premises unto and to the use of the mortgagee in manner aforesaid as shall or may be reasonably required.
In Witness whereof the Mortgagor has put his hand the day and year first hereinabove written:
THE FIRST SCHEDULE ABOVE REFERRED TO
X XXX
THE SECOND SCHEDULE ABOVE REFERRED
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Signed by the within - named
Mortgagor in the presence of
Mr ....... in the presence of
1.
2.