Sale of Mortgage Rights
THIS DEED OF SALE made on the . . . . . . . . . day of . . . . . . , 20. . . . . . . . BETWEEN A. B. etc. (hereinafter called ‘‘the Vendor’’) of the one part AND C. D. etc. (hereinafter called ‘‘the Purchaser’’) of the other part.
WHEREAS by a deed of mortgage dated . . . . . . . . . one X. Y. usufructuarily mortgaged the property mentioned in the Schedule hereto to the Vendor for Rs. . . . . . . .;
AND WHEREAS the Vendor has agreed with the Purchaser to assign and transfer to him the said mortgage debt and all his right, title and interest under the hereinbefore recited deed of mortgage for the sum of Rs . . . . . . . . .;
NOW THIS DEED WITNESSES as follows:
1. In pursuance of the said agreement and in consideration of the sum of Rs. . . . . .paid on or before the execution of these presents by the Purchaser to the Vendor (the receipt of which the Vendor hereby acknowledges) the Vendor hereby assigns to the Purchaser ALL THAT principal sum of Rs . . . . . . . . . secured by the hereinbefore recited deed of mortgage and the full benefit of all powers, rights, remedies and securities contained in the said deed of mortgage and thereby expressly or impliedly conferred upon the Vendor TO HOLD the same to the Purchaser absolutely.
2. In further pursuance of the said agreement and for the consideration aforesaid the Vendor hereby transfers to the Purchaser ALL that property comprised in the said deed of mortgage and set forth in the Schedule hereto and all the estate, right, title and interest of the Vendor to and upon the same TO HOLD the same to the Purchaser subject to such right or equity of redemption as is now subsisting in the said property under or by virtue of the said deed of mortgage.
3. The Vendor hereby covenants with the Purchaser as follows:
(1) In consideration of the sum of Rs. . . . . . . . . . . . . . paid by the Purchaser to the Vendor on the . . . . . . . . . day of . . . . . . . . . . , 20 . . . . , (the receipt of which the Vendor hereby acknowledges) the Vendor as owner hereby transfers to the Purchaser by way of sale ALL that pucca house standing on the land measuring 27 ft. by 10 ft. fully described in the Schedule hereto and for greater clearness delineated on the plan hereto annexed and thereon shown with its boundaries coloured red TO HOLD the same to the Purchaser as absolute owner.
(2) The Vendor hereby covenants with the purchaser as follows:
(i) 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.
(ii) 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.
(iii) The interest hereby transferred subsists and the Vendor has power to sell the same.
(iv) The property hereby sold is free from encumbrances.
(3) The Vendor has not at any time heretobefore done or executed or knowingly suffered or been party or privy to anything whereby the said principal sum and the property hereby respectively assigned and transferred or any part thereof respectively is, can or may be released, affected or encumbered in any way howsoever:
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 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.