Form of English Mortgage by Shiva.

Form of English Mortgage

THIS INDENTURE is made the . . . . . . . . . . . day of . . . . . . . . . . ., 20 . . . . . . . . . . ., BETWEEN A.B., aged (give description of party) . . . . . . . . . . . , (hereinafter called ‘‘the Mortgagor’’) of the one part AND C.D., aged (give description of party) . . . . . . . . . . .(hereinafter called ‘‘the Mortgagee’’) of the other part:

WITNESSETH that in consideration of the sum of Rupees . . . . . . . . (Rs . . . . . . . . . . .) only received by the said A.B. from the said C.D., the receipt whereof the said A.B. hereby acknowledges the said A.B. doth hereby for himself, his heirs, representatives and assigns grants, conveys and transfers unto the said C.D., his heirs, representatives and assigns ALL THAT (describe in detail the property) AND the said Mortgagor for himself and his heirs, representatives and assigns hereby covenants with the said Mortgagee, his heirs, representatives and assigns as follows:

1. That the said Mortgagor has a good, perfect and clear title to the properties hereby transferred and that the same are free from all charges, encumbrances, attachments and liens, whatsoever.

2. That the said Mortgagee shall have power to enter upon and peaceably possess and enjoy the said properties with all the rights and title of an absolute owner.

3. That upon default of payment within the period herein provided the sale shall become absolute.

4. That the Mortgagor shall on the . . . . . . . . . . . day of . . . . . . . ,
20 . . . . . . . . , repay to the said Mortgagee the said sum of Rupees . . . . . (Rs . . . . . . ) only with interest thereon at the rate of . . . . . . . . . . per cent per annum to be paid half-yearly until the said . . . . . . . . . . . day of . . . . , 20 . . . . . . . . . . .

5. That the Mortgagee shall have no power or authority to waste, transfer, sell, charge or otherwise encumber the property hereby transferred till the said . . . . . . . . . . . . . .day of . . . . . . . . . . ., 20 . . . . . . .

6. That on payment before the said . . . . . . . . . . .day of . . . . . . . . . ., 20 . . . . . . . . . . ., of the said sum of Rupees (Rs . . . . . . . . . . .) only with all interest due the Mortgagee shall at the cost of the Mortgagor reconvey and reassure unto the said Mortgagor, his heirs, representatives and assigns the properties hereby transferred in their original condition:

PROVIDED that the possession of the Mortgagor for any length of time from the date hereof over and on the properties hereby transferred shall be deemed to be that of a tenant occupying the same on such terms and conditions as may be hereafter agreed AND THAT the terms ‘‘the Mortgagor’’ and ‘‘the Mortgagee’’ herein used shall include the heirs, representatives and assigns of the parties and the singular shall include the plural, and the male shall include the female.

IN WITNESS whereof the said A.B. and C.D. have hereunto at . . . . . . . . . . . . . . . . set their hands the day and the year first abovementioned.

Witnesses:

1.                                                                     Sd. A.B.

Mortgagor.

2.                                                                     Sd. C.D.

Mortgagee.

SCHEDULE OF PROPERTY (FULL DESCRIPTION)

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