Deed of Simple Mortgage (Another Form) by Shiva.

Deed of Simple Mortgage

(Another Form)

THIS SIMPLE MORTGAGE is made the . . . . . . . . . .day of . . . . . . . . . ., 20 . . . . . . . . . ., by me, A.B. aged . . . . . . . . . ., etc. AND WITNESSES that being in urgent need of funds to defray the marriage expenses of my younger sister whose marriage is fixed to be performed in the next month I have this . . . . . . . . . . day of . . . . . . . . . ., 20 . . . . . . . . . ., borrowed from C.D., aged . . . . . . . . . ., etc. the sum of Rupees . . . . . . . . . . (Rs . . . . . . . . . .) only which sum I have received before the registering officer and which said sum I agree to repay with interest @. . . . . . . . . .% per annum, all interest payable each month and if any interest remains unpaid for a period of six months it shall be added to the principal sum advanced and bear interest at the aforesaid rate of . . . . . . . per cent per annum.

I also promise that if I pay any money it shall first be credited towards interest and thereafter it shall be applied towards the satisfaction of the principal and that any sum amounting to less than Rupees one hundred only credited towards the principal will not entitle me to claim any reduction in the interest.

AND I agree to repay the said sum together with all interest then due on or before the . . . . . . . . day of . . . . . . . ., 20 . . . . . . . . . .

As security for the said loan, I do hereby transfer by way of SIMPLE MORTGAGE my unencumbered entire ancestral house together with the compound appurtenant thereto situate at No. . . . . . . . . . ., Road . . . . . . . . . ., in the city of . . . . . . . . . . and more specifically described in the Schedule hereto annexed; AND further declare that in the event of my failure to observe any of the conditions of this deed the Mortgagee shall have full power and authority to cause the said property hereby mortgaged to be sold with a view to satisfy his claim, and should his claim, including all interest which might be then due and the cost of such sale be not then satisfied the Mortgagee shall be at liberty to recover the remaining sum from my person and other property.

I also agree and bind myself that the property hereby mortgaged shall not at any time hereafter be alienated or encumbered by me in any manner whatsoever.

These covenants shall not only bind me but my heirs, executors, representatives and assigns as well. I have duly and deliberately executed this deed and put my signature hereto after fully understanding the meaning, purport and intent of this deed.

SIGNED before . . . . . . . . . . and . . . . . . . . . . who have also signed in my presence as witnesses.

Witnesses:

1.                                                                   ?   Sd. A.B.

Mortgagor

2.

SCHEDULE OF PROPERTY

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.