Deed of Further Charge on Mortgaged Property

Deed of Further Charge on Mortgaged Property

This deed of further charge made this ………….. day of ……………. 2000 BETWEEN AB son of ……………………………… residing at ……………………. hereinafter called the MORTGAGOR (which term shall include his heirs, successors, executors, administrators and assigns) of the one part and CD son of …………….. residing at ………….  hereinafter called the MORTGAGEE (which term shall include his heirs, successors, executors, administrators and assigns) of the other part, and supplemental to a deed of mortgage (hereinafter called the principal deed), dated the. ……………… day of …………. and made BETWEEN the same parties, and registered in Book I, Vol. ………. pages ……… etc. etc., for securing the sum of Rs. ……….. and interest at the rate of ………. per cent per annum, on the property at, etc. WITNESSES, that in consideration of a further sum of Rs. ……………  now paid to the MORTGAGOR by the MORTGAGEE (the receipt of which sum the MORTGAGOR hereby acknowledges), the MORTGAGOR hereby agrees with the MORTGAGEE to pay or cause to be paid to him on the ………….  day of ………… the said sum of

Rs. ……., with interest thereon in the meantime at the rate of Rs. ……. per cent  per annum; and also as long thereafter as any principal money remains due under this further charge, to pay to him interest thereon at the same rate by equal half-yearly instalments on the half-yearly days as mentioned in the Principal Deed for payment of interest.

For the same consideration, the MORTGAGOR hereby further agrees with the MORTGAGEE that the entire property as comprised in the principal deed fully mentioned and described in the Schedule hereto shall remain charged also for the payment to the MORTGAGEE of the said further sum of Rs. ………… and the interest thereon hereunder agreed to be paid, as well as the sum of Rs. ………. and interest secured by the principal deed, and that all the provisions of the principal deed shall mutatis mutandis apply as if the principal sum (Rs. ……….) and the interest thereon had been originally secured by the principal deed.

The Schedule above referred to

In witness whereof the parties hereto have executed these presents on the day, month and year first above-written.

Signed, sealed and delivered by

AB the MORTGAGOR in the presence of:

Signed, sealed and delivered by

CD the MORTGAGEE in the presence of:

Memo of Consideration

Disclaimer:

The information contains in this web-site is prepared for educational purpose. This site may be used by the students, faculties, independent learners and the learned advocates of all over the world. Researchers all over the world have the access to upload their writes up in this site. In consideration of the people’s participation in the Web Page, the individual, group, organization, business, spectator, or other, does hereby release and forever discharge the Lawyers & Jurists, and its officers, board, and employees, jointly and severally from any and all actions, causes of actions, claims and demands for, upon or by reason of any damage, loss or injury, which hereafter may be sustained by participating their work in the Web Page. This release extends and applies to, and also covers and includes, all unknown, unforeseen, unanticipated and unsuspected injuries, damages, loss and liability and the consequences thereof, as well as those now disclosed and known to exist.  The provisions of any state’s law providing substance that releases shall not extend to claims, demands, injuries, or damages which are known or unsuspected to exist at this time, to the person executing such release, are hereby expressly waived. However the Lawyers & Jurists makes no warranty expressed or implied or assumes any legal liability or responsibility for the accuracy, completeness or usefulness of any information, apparatus, product or process disclosed or represents that its use would not infringe privately owned rights. Reference herein to any specific commercial product process or service by trade name, trade mark, manufacturer or otherwise, does not necessarily constitute or imply its endorsement, recommendation or favouring by the Lawyers & Jurists. The views and opinions of the authors expressed in the Web site do not necessarily state or reflect those of the Lawyers & Jurists. Above all, if there is any complaint drop by any independent user to the admin for any contents of this site, the Lawyers & Jurists would remove this immediately from its site.