Sale of the Equity of Redemption
THIS SALE is made the . . . . . day of . . . . . , 20 . . . , BETWEEN A. B., aged . . . . . . . . ., etc., (hereinafter called ‘‘the Mortgagee’’) of the first part, AND C. D., aged . . . . . . . . ., etc., (hereinafter called ‘‘the Seller’’) of the second part, AND E. F., aged . . . . . . . . . etc., (hereinafter called ‘‘the Purchaser’’) of the third part.
WHEREAS by a deed of mortgage, dated the . . . . . . . . . day of . . . . . ,
20. . . . . . and made between the said C. D. of the one part and the said A. B. of the other part, the messuages and hereditaments hereinafter described and intended to be hereby conveyed, together with two other dwelling houses were mortgaged by the said C. D. to the said A. B., by way of simple mortgage for securing the repayment of the principal sum of rupees five thousand (Rs 5000) only, with interest as therein mentioned;
AND WHEREAS the said principal sum of Rs 5000 remains due and owing on the security of the hereinbefore mentioned mortgage deed, but all interest for the same has been paid up to the date of these presents;
AND WHEREAS the said C.D. has agreed with the said E. F., for the absolute sale to him of the hereditaments hereinafter described free from all encumbrances except the sum of rupees two thousand only (part of the said principal sum of Rs 5000), and interest hereafter accruing at the rate and manner prescribed in the said deed of mortgage for the same at the price of rupees ten thousand (Rs 10,000) only;
AND WHEREAS it has been mutually agreed between the parties hereto that the said sum of Rs 5000 shall be apportioned in the manner following, that is to say, as to the sum of rupees two thousand only, part thereof, upon the said house hereinafter described and intended to be sold and in exoneration of the remainder of the property comprised in the hereinbefore recited deed of mortgage and as to the sum of Rs 3000 the balance of the said principal sum of Rs 5000 upon the remaining said property hereinafter described and intended to be hereby conveyed;
AND WHEREAS the said A. B. has agreed to join in these presents in the manner hereinafter appearing;
NOW THIS DEED WITNESSES that in consideration of the sum of rupees ten thousand (Rs 10,000) only paid in the manner following, that is to say, the sum of rupees four hundred (Rs 400) only, on . . . . . . . . . by way of earnest money and the residue of rupees nine thousand and six hundred (Rs 9,600) only, before the Sub-Registrar at the time of the registration of these presents by the said E. F. to C. D., which said total sum of rupees ten thousand (Rs. 10,000) only, the said C. D. hereby acknowledges as having received, THE SAID C. D. as beneficial owner hereby transfers by way of absolute sale unto the said E. F. ALL THAT double-storeyed dwelling house with compound, outhouses, gardens, garage and appurtenances belonging thereto commonly called and known as KAMALA COTTAGE, situate at No. . . . . . . . ., on the. . . . . . . . Road in the city of . . . . . . . . . and bounded on the East by . . . . . . . . ., on the West by . . . . . . . . ., on the South by . . . . . . . . . , and on the North by . . . . . . . . .and presently occupied by Shri . . . . . . . . ., on a monthly tenancy paying a rent of Rs. . . . . . . . . .p.m., delineated and coloured red on the plan attached; TOGETHER WITH ALL rights, easements and appurtenances to the said property hereby transferred, belonging or reputed to belong or usually held, occupied or enjoyed therewith, TO HOLD the same absolutely and forever, BUT SUBJECT to the hereinafter recited deed of mortgage and to the sum of Rs 2000 (part of the said principal sum of Rs 5000) thereby secured and all interest henceforth accruing due in respect of the said sum of Rs 2000 UNTO AND TO THE USE of the said E. F. absolutely and forever, AND the said E. F. hereby covenants with the said C. D. to pay the sum of Rs 2000 so apportioned to the said dwelling house hereinbefore described and interest hereinafter to become due thereon and at all times hereafter to keep indemnified the said C. D. from and against the payment of the said sum of Rs 2000 and the interest thereon and from and against all actions, claims and demands for and on account of the same or in any wise relating thereto. AND each of them, the said A. B. and C. D., hereby acknowledges the right and promises the delivery and production of all documents of title pertaining or relating to the property hereby transferred on satisfaction of the said sum of Rs 2000 and all interest thereon and in the meantime the right of E. F. to copies of all such documents. AND the said A. B. hereby covenants with the said E. F. that as between the said A. B. and E. F. the property hereinbefore described, that is to say, the property hereby transferred shall be considered charged exclusively with the repayment of the said sum of Rs 2000 and interest as specified and agreed in the said mortgage deed in exoneration of the two other dwelling houses comprised in the said mortgage deed and shall be wholly exonerated and discharged from any demand in respect of the remaining sum of Rs 3000, the balance of the full sum of Rs 5000 which it is hereby declared shall be exclusively charged upon the said two remaining houses comprised and subject of the aforesaid deed of mortgage and that any right of consolidation the said A. B. may, now or at any time hereafter, have in respect of mortgages held by him from the said C. D. shall not attach to the property hereby conveyed.
IN WITNESS whereof, the said A. B., C. D. and E. F. have hereto at. . . . . . . . . . . .signed the day and the year first abovewritten.
Witness: Sd. A. B.
Sd. C. D.
Sd. E. F.