Sale Deed: Part Consideration left with Purchaser to pay to Mortgagee by Shiva.

Sale Deed: Part Consideration left with
Purchaser to pay to Mortgagee

THIS DEED OF SALE is made on the . . . . . . . . day of . . . . . . . . . , 20 . . . . . . . , BETWEEN A. B., of etc. (hereinafter called ‘‘the Vendor’’) of the one part AND C. D., of etc. (hereinafter called ‘‘the Purchaser’’) of the other part.

WHEREAS the Vendor is owner of the land described in the Schedule hereto;

AND WHEREAS by a mortgage bond dated the . . . . . . . . . executed by the Vendor in favour of one E. F. the said land was mortgaged to secure the principal sum of Rs . . . . . . . . . and interest in accordance with the covenants therein contained;

AND WHEREAS the said principal sum of Rs . . . . . . . . . with interest thereon from the date of the aforesaid bond up to the date thereof remains owing on the security of the said bond;

AND WHEREAS the Vendor has agreed with the Purchaser for the sale to him of the said land free from encumbrances for the sum of Rs . . . . . . . . . of which the sum of Rs . . . . . . . . . has been agreed to be retained by the Purchaser for the redemption of the said mortgage of the said E. F.

NOW THIS DEED WITNESSES as follows:

1. In consideration of the price of Rs. . . . . . . . ., out of which the sum of Rs. . . . . . . . . . has been paid by the Purchaser to the Vendor (the receipt of which the Vendor hereby acknowledges) and the sum of Rs. . . . . . . . . . has been retained by the Purchaser for payment to the said E. F. in pursuance of the aforesaid agreement and the remaining Rs. . . . . . . . . .will be paid by the Purchaser to the Vendor within three months, the Vendor hereby transfers by way of sale to the Purchaser ALL that property described in the Schedule hereto TO HOLD the same to the Purchaser as absolute owner.

2. The Vendor hereby covenants with the Purchaser as follows:

(1)   The said premises shall be quietly entered into and upon and held and enjoyed and the rents and profits received therefrom by the Purchaser without any interruption or disturbance by the Vendor or any person claiming through or under him and without any lawful disturbance or interruption by any other person whomsoever.

(2)   The Vendor will at the cost of the person requiring the same execute and do every such assurance or thing necessary for further more perfectly assuring the said premises to the Purchaser, his heirs or assigns as may reasonably be required.

(3)   The said premises are free from encumbrances except the encumbrance created by the aforesaid mortgage deed.

(4)   If the amount due to E. F., mortgagee, on the said mortgage bond dated . . . . . . . . . on the date of execution of this deed is found to exceed Rs. . . . . . . . . . the Vendor will pay the excess to the Purchaser with interest at . . . . .  per cent per annum from the date hereof.

3. The Purchaser hereby covenants with the Vendor as follows:

(1)   He will pay the said sum of Rs. . . . . . . . . . to the Vendor within three months from the date hereof; and

(2)   He will at all times keep indemnified the Vendor and his estate from and against the claim of the said E. F. under the aforesaid mortgage deed dated the . . . . . . . . .:

4. PROVIDED ALWAYS and it is hereby agreed that wherever such an interpretation would be requisite to give the fullest possible scope and effect to any contract or covenant herein contained the expressions ‘‘the Vendor’’ and ‘‘the Purchaser’’ hereinbefore used shall include their respective heirs, legal representatives, successors and assigns.

IN WITNESS WHEREOF the parties hereto have signed this deed on the dates mentioned against their respective signatures.

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