Deed of Agreement for the Further Charge

 

  THIS DEED OF AGREEMENT FOR FURTHER CHARGE IS MADE ON THIS THE _____ DAY OF _____________, 2012.

 BETWEEN

(i) Md. Mojibur Rahman, Date of Birth:_______________son of Md. Arshad Ali Khan, (ii) Mrs. Beauti Begum, Date of Birth:_______________wife of Md. Mojibur Rahman, of permanent address at Village: Vairob Pasha, Police Station: Nalcity, District: Zhalkati & present address of House No. 81/1, North Rajashan., Police Station : Savar, District: Dhaka, hereinafter referred to as the MORTGAGORS (which expression shall unless excluded by or repugnant to the context mean and include his heirs, legal representatives, executors, administrators and assignees) of the ONE PART.

 AND

UNITED COMMERCIAL Bank Limited, a scheduled bank incorporated under the Companies Act, 1994 and governed by the Banking Companies Act, 1991, carrying out its banking business having its Head Office situated at House # CWS(A) 1, Gulshan  Avenue, Dhaka-1212, alongwith one of its branch Offices namely “Savar Branch” Sugandha Super Market, Savar Bazar Bus Stand, Savar, Dhaka, hereinafter referred to as the ‘Mortgagee Bank’ (which expression shall unless excluded by or repugnant to the context be deemed to mean and include its successors-in-interest, legal representatives, administrators and assignees) of the SECOND PART.

WHEREAS:

  1. The BORROWERS,-MORTGAGORS, (i) Md. Mojibur Rahman (Applicant), son of Md. Arshad Ali Khan bearing Tax Payer’s Identification Number (T.I.N.) __________________________, & (ii) Mrs. Beauti Begum (Co Applicant), wife of Md. Mojibur Rahman, bearing Tax Payers Identification Number (T.I.N.)__________________________, has already availed a Home Loan of Tk.15,00,000.00 (Taka fifteen lac) only from the MORTGAGEE BANK.
  1. As security for the said facility, the MORTGAGORS created legal mortgage upon the property described in Schedule below in favour of the MORTGAGEE BANK by executing Deed of Mortgage being no. ____________________ dated ________________ (the ‘Legal Mortgage).
  1. Upon request of the BORROWERS the MORTGAGEE BANK has further sanctioned a renewal with enhancement of Home Loan Limit from Tk.15,00,000.00 (Taka fifteen lac) only to Tk.23,00,000.00 (Taka twenty three lac) only (hereinafter referred to as the ‘Credit’) vide its Sanction Letter No. UCBL/SAVAr/RETAIL/2012/882 dated June 25, 2012 on conditions inter alia that the MORTGAGORS will create equitable mortgage in favour of the MORTGAGEE BANK on the same property and create further charge and he will not redeem the Legal Mortgage created earlier without first redeeming the equitable mortgage contemplated hereby.
  1. The MORTGAGORS have agreed to create further charge on the scheduled property for securing the entire amount availed by (i) Md. Mojibur Rahman (Applicant), son of Md. Arshad Ali Khan bearing Tax Payer’s Identification Number (T.I.N.) _____________________________, & (ii) Mrs. Beauti Begum (Co Applicant), wife of Md. Mojibur Rahman, bearing Tax Payers Identification Number (T.I.N.) ______________________________, and the MORTGAGORS do hereby create and execute this further charge.
  1. The MORTGAGORS have agreed to the condition.

NOW THIS DEED OF AGREEMENT FOR FURTHER CHARGE WITNESSETH AS FOLLOWS:

  1. That the MORTGAGORS  have already created the Legal Mortgage in favour of the MORTGAGEE BANK for an amount of Tk.15,00,000.00 (Taka fifteen lac) only allowed by the MORTGAGEE BANK to the BORROWER.
  1. That the MORTGAGORS  hereby undertake and covenant that the Legal Mortgage already created in favour of the MORTGAGEE BANK shall be a continuing security and shall also cover the entire Credit amount of Tk.23,00,000.00 (Taka twenty three lac) only. This deed of agreement for further charge will thereby be applicable for all further sanction, excess drawings or limits exceeding due to application of profits.
  1. That the MORTGAGORS  hereby undertake and covenant that they will not redeem the Legal Mortgage created earlier without first redeeming the equitable mortgage created covering the entire Credit amount of Tk.40,00,000.00 (Taka forty lac) only upon full adjustment of the dues with all other profits and charges thereon.
  1. That if the BORROWER fails to repay the Credit to the MORTGAGEE BANK in the manner stated in the Credit sanction letter or in any other manner so agreed between the BORROWER and the MORTGAGEE BANK, then the MORTGAGEE BANK shall be entitled to recover the outstanding dues from the MORTGAGORS under these presents by sale of the mortgaged properties without intervention of the Court of law.
  1. That the MORTGAGEE BANK, if necessary, shall be entitled to sell the mortgaged properties without intervention of any Court of law at its own discretion as provided in section 69 of the Transfer of Property Act and the same shall be regarded as valid and binding on all the parties, to which the MORTGAGORS  will not object.
  1. That on repayment of the Credit and on payment of all profits and other charges due thereon the MORTGAGORS at their own costs, will be entitled to redeem the mortgaged properties from the MORTGAGEE BANK free from all encumbrances and charges accruing on the MORTGAGEE BANK and on such redemption this mortgage shall be deemed to have been extinguished.

SCHEDULE OF THE PROPERTY AS MENTIONED ABOVE

All that piece and parcel of land measuring 6.50 (six point five zero) decimals situated within District-Dhaka, Police Station & Sub-Registry Office-Savar, Under Dhaka Collectorate Touzi, J. L. No. Sabek 185, Hal 175, Mouza-Razason, S.A. Khatian No. 112 (one hundred twelve), R.S. Khatian No. 84 (eighty four), Sabek & S. A. Dag No. 116 (one hundred sixteen), R.S. Dag No. 87 (eighty seven); butted & bounded by:

                On the North    :    Road;

                On the South   :    Land of Mohiuddin;

                On the East     :    Sold Land of Golsahera;

                On the West    :    Sold land of Kamala Bibi.

along with all structures and building constructed and to be constructed therein together with all rights, interests, title, easements etc. attached thereto or appertaining to the scheduled property.

IN WITNESS WHEREOF, THE MORTGAGORS AND THE MORTGAGEE BANK HEREUNTO SET MY SIGNATURE ON THE DAY, MONTH AND YEAR MENTIONED ABOVE.

For and on behalf of the MORTGAGEE BANK

________________________

Name:

Designation:

  

 

 

 

 

 

                 ___________________________

             (i) Md. Mojibur Rahman

               ___________________________

              (ii) Mrs. Beauti Begum

(Signature of the MORTGAGORS)

Signed in the presence of

(Signatures, names and

addresses of the witnesses):

1.

2.

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