Transfer Of Mortgage At The Instance Of The Mortgagor Deeds Mortgages And Pledges 1664 - Legal Draft

......(2) ..... and (3) .........being the present partners of the Firm of M/s ....... having their office at .........hereinafter referred to as the Mortgagees of the Second Part, and (1) ....... (2) ........ (3) .........being the present partners of the Firm of M/s ........... having their office at ............hereinafter referred to as the Transferees of the Third Part;
WHEREAS -
(1) By a Deed of Mortgage dated ............and made between the Mortgagor of the One Part and the Mortgagees of the Other Part and registered at the office of the Sub Registrar at ........... under Sr. No .... of Book No. I, the Mortgagor in consideration of the sum of Rs ....... lent and advanced by the Mortgagees to the Mortgagor, the Mortgagor covenanted to repay the said amount with interest at the rate of Rs ................per cent per annum on or before the ............. day of ............. and did grant and transfer unto the Mortgagees his immoveable property situated at .............. and more particularly described in the Schedule thereunder written being the same as described in the schedule hereunder written and all other the premises therein mentioned TO HAVE AND TO HOLD the same unto and to the use of the Mortgagees subject to the covenant for redemption therein contained and together with all powers and provisions therein provided.
(2) There is now due and payable by the Mortgagor to the Mortgagees
a sum of Rs ...............for principal and a sum of Rs ............for interest aggregating to Rs .............. under the said Deed of Mortgage.
(3) As the Mortgagees are pressing for repayment of the said Mortgage debt, the due date for repayment having expired, the Mortgagor has requested the Transferees to pay the said amount to the Mortgagees and which the Transferees have agreed to do on the Mortgagees and the Mortgagor executing this deed for transferring the said debt and security to the Transferees.
NOW THIS DEED WITNESSETH that in pursuance of the premises and in consideration of the said sum of Rs ............. paid by the Transferees at the request of the Mortgagor to the Mortgagees on the execution of these presents (receipt whereof the Mortgagees do and each of them doth hereby admit) they Mortgagees do and each of them doth at the instance of the Mortgagor hereby assign the said sum of Rs ........... secured by the said Deed of Mortgage and all interest and cost and other things henceforth to become due and payable in respect of the same together with the full benefit of all the covenants and powers including the power to sell the property out of court and other provisions in the said Deed of Mortgage contained for securing repayment of the said sum and interest together with full power to demand, sue for, recover and give effectual receipts and discharge for the same respectively and all the right, title and interest property, claim and demand of the Mortgagees in the said moneys and other premises, TO HAVE, TO Receive and Take the said sum of Rs ............for principal interest and all other the premises hereby assigned or expressed for to be unto the transferees absolutely.
AND THIS DEED ALSO WITNESSETH that in pursuance of the premises and in consideration aforesaid the Mortgagees do and each of them doth hereby grant and transfer unto the Transferees and the Mortgagor also cloth hereby grant and confirm unto the Transferees all and singular the said land and premises described in the Schedule to the said Deed of Mortgage being the same as described in the Schedule hereunder written and all other the premises comprised in and granted or otherwise assured by the said Deed of Mortgage and all their and his rights, title and interest or claim therein TO HAVE AND TO HOLD the said land and other the premises hereby granted or expressed so to be unto and to the use of the Transferees, subject to the right of redemption now subsisting in the said premises under and by virtue of the said Deed of Mortgage.
And the Mortgagees do and each of them doth covenant with the Transferees that the Mortgagees have not at any time done or knowingly suffered or been party or privy to any act, deed or thing whereby they are prevented from transferring and granting the said mortgage debt and interest thereon and the securities therefor in the manner hereinbefore contained.
And it is hereby agreed and declared between the parties hereto that nothing in these presents contained shall be deemed to impose any liability on the Mortgagees or any of them for title to the said property or render the Mortgagees or any of them liable for or in respect of the Mortgage debt hereby assigned or any part thereof or for insufficiency of the security arising in any manner whatsoever.
And it is agreed and declared by and between the Mortgagor and the Transferees that the due date for repayment of the Mortgage debt mentioned in the said Deed of Mortgage is extended to ... and the said date shall be the due date within the meaning of the provisions of the said Deed of Mortgage.
IN WITNESS WHEREOF the Mortgagor and the Mortgagees have put their respective hands the day and year first hereinabove written.
THE SCHEDULE ABOVE REFERRED TO
xxxxxxxxxxxxxxxxxxxxxxx
Signed and delivered by the )
withinnamed Mortgagor )

in the presence of )
Signed and delivered by the )
withinnamed Mortgagees )

1 )
2 )
3 )
of M/s.  )
in the presence of )