Deed
of English Mortgage
THIS
INDENTURE OF
MORTGAGE
executed at _______ this ______ day of _______ 200___ between M/S.
ABC LTD., a Company incorporated under the provisions of the
Companies Act, 1956 having its registered office at
_____________________________________________, hereinafter referred
to as ?THE
MORTGAGOR?
(which expression shall unless it be repugnant to the context or
meaning thereof be deemed to mean and include its successors and
assigns) of the ONE
PART;
AND X Y Z of __________, Indian Inhabitant having his address at
_________________________________________________________________
(which expression shall unless it be repugnant to the context or
meaning thereof be deemed to mean and include his heirs, legal
executors and administrators) hereinafter referred to as ?THE
MORTGAGEE?
of the OTHER PART;
WHEREAS:
(a) The
Mortgagor is the Owner of and well and sufficiently seized and
possessed of the property more particularly described in the Schedule
hereunder written (hereinafter referred to as ?the
said property?).
(b) The
Mortgagor being in need of finance for its business purposes,
requested the Mortgagee to provide the said finance.
(c) Pursuant
to the said request of the Mortgagor, the Mortgagee had agreed to
lend and advance and have advanced to the Mortgagor a sum of Rs.
20,00,000/- (Rupees twenty lacs only) against the security of the
said property by way of Mortgage for securing repayment of the
principal and interest thereof in the manner hereinafter appearing.
NOW
THIS INDENTURE WITNESSETH that in pursuance of the said agreement and
in consideration of the sum of Rs. 20,00,000/- (Rupees twenty lacs
only) paid to the Mortgagor by the Mortgagee on or before execution
hereof (the receipt whereof the Mortgagor doth hereby acknowledge and
of and from the same doth hereby release and discharge the Mortgagee)
THEY the Mortgagor doth hereby covenant with the Mortgagee that they
shall on the ____________ day of ____________ (hereinafter called
?the
due date?)
pay to the Mortgagee the said sum of Rs. 20,00,000/- (Rupees twenty
lacs only) together with interest thereof at the rate of 1.25 percent
per month with monthly rest (payable monthly along with the
installment of the principal amount) from the date hereof by equal
twenty monthly installments, the first of such payments shall be made
on the _____________ day of ________ and the subsequent payments
shall be made on or before 10th
day of each and every following month and will also pay after the due
date so long as the said sum of Rs. 20,00,000/- (Rupees twenty lacs
only) or any part thereof or interest thereof shall remain unpaid to
the Mortgagee in the manner aforesaid AND IT IS HEREBY AGREED AND
DECLARED that if any payment of interest is not made on the due date
(whether or not demanded) it shall be added to the principal sum and
compounded accordingly and shall be chargeable upon the mortgaged
property for all intents and purposes recorded herein, however, this
provision shall not in any way permit the Mortgagor to allow any
interest to fall in arrears nor shall it in anywise interfere with,
prejudice, limit or affect the powers of sale or of entry or any
other powers or remedies for securing and enforcing payment of the
Mortgage debt hereinafter contained.
AND
THIS INDENTURE ALSO WITNESSETH that the Mortgagor doth hereby grant
release convey and assure unto the Mortgagee all and singular the
said property more particularly described in the schedule hereunder
written with all and singular the buildings, courts, compounds,
yards, areas, ways, paths, passages, commons, gullies, sewers,
drains, trees, plants, shrubs, wells, waters, water-courses, lights,
liberties, privileges, easement, advantages and appurtenances,
whatsoever to the said property or any part thereof belonging or in
anywise appertaining or usually held or enjoyed or occupied therewith
or reputed to belong or be appurtenant thereto AND ALL the estate,
right, title, interest, claim and
