Deed of Sub-mortgage

Deed of Sub-mortgage

This deed of Sub-mortgage made this …….………. day of …………….2000 between AB son of ……………………………… residing at ……………………. hereinafter called the SUB-MORTGAGOR (which term shall include his heirs, successors, legal representatives and assigns) of the one part and CD son of …………….. residing at …………. hereinafter called the sub-mortgagee (which term shall include his heirs, successors, legal representatives and assigns) of the other part.

WHEREAS by a deed of mortgage deed dated the ………… day of …………. and registered in Book I, vol. ……….,  pages ………. to. ……….. being No. ………. in the office of………….. the properties described in the Schedule hereto were mortgaged by XY to the SUB-MORTGAGOR AB as security for repayment of the sum of Rs. …………… lent and advanced by the SUB-MORTGAGOR AB to XY with interest thereon at the rate of …………. per cent per annum ………. subject to the terms and conditions thereunder contained AND WHEREAS the said XY has paid from time to time an aggregated sum of Rs. …….. in part payment of interest due on such mortgage AND WHEREAS a sum of Rs. ………. as principal and a further sum of Rs. ………..  as interest are still due and owing to the said AB by the said XY upon the said mortgage AND WHEREAS the sub-mortgagee has agreed to lend and advance to the sub-mortgagor a sum of Rs. ………….. upon the security of the amount due under and by virtue of the said mortgage and against sub-mortgage of the said properties now this deed of sub-mortgage witnesses that in pursuance of the said agreement and in consideration of the sum of Rs. ……….. lent and advanced by the sub-mortgagee to the SUB-MORTGAGOR (the receipt whereof the sub-mortgagor hereby acknowledges) the SUB-MORTGAGOR does hereby covenant with and agree to repay the SUB-MORTGAGOR the said sum of Rs. ………  with interest thereon at the rate of Rs. ……………per cent per annum on or before the ……….. day of ……….. and as security for the same hereby transfers all the debt secured by the aforesaid mortgage deed and benefits of the charge of and all securities thereunder created on all properties mortgaged as also all rights, remedies and benefits expressly or impliedly conferred upon the SUB-MORTGAGOR under and by virtue of the said mortgage-deed or otherwise by law or in equity.

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 SUB-MORTGAGOR in the presence of:

Signed, sealed and delivered by CD

the SUB-MORTGAGEE in the presence of:

Memo of Consideration

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