MORTGAGE BY DEPOSIT OF TITLE DEEDS





THIS EQUITABLE MORTGAGE is made the __________. day of __________, 20 __________, BETWEEN A.B., aged __________.etc. of the one part AND BB., aged __________, etc. of the other part.

WHEREAS the said BB. has advanced to the said AA. the sum of Rupees __________ (Rs __________) only, the receipt whereof the said AA. has on various dates given to the said BB. NOW IN CONSIDERATION of such advances aggregating the aforesaid sum of Rupees __________ (Rs __________ ) only and for further securing the repayment thereof, on demand, with interest thereon, at the rate of __________% per annum from the date hereof the said AA. has this day deposited with the said BB, the deeds and documents pertaining to his title to the house No__________ on the __________ Road in the city of __________belonging absolutely to him and does hereby CHARGE the premises comprised in the said deeds and documents with the repayment of the said sum of Rs __________ (Rs __________) only with interest thereon at the rate of __________% per annum, such interest to be payable half-yearly on the __________ day of __________ and the __________ day of __________ each year.

AND IT IS HEREBY AGREED AS FOLLOWS:

1. That should any interest remain unpaid for a period of more than six months from its accrual and/or after the expiry of the period specified herein the said BB. shall have the right to call in or enforce payment of the sums due under this mortgage.

2. That AA. shall repay the interest as stated above and on failure it shall be added to the principal and such principal shall in any case be repaid on or before the __________day of __________, 20 __________

3. That the said AA. shall on demand by the said BB. and at his cost execute a SIMPLE MORTGAGE of the property hereby mortgaged on the terms and conditions as to interest and manner of payment specified herein and such other conditions as may be imposed by BB.

IN WITNESS whereof, the said AA. has hereto signed at ________ the day and the year first abovementioned.

Witnesses:

1. Sd. AA. Mortgagor.

2.

SCHEDULE OF PROPERTY



List of documents deposited with BB. relating to the property comprising house No__________ .on the __________ Road in the city of __________, bounded as below:

East :

West :

South :

North :

1. Sale deed, dated __________, executed by __________, in favour of __________, uncle of AA., registered at __________ on __________ in Book I, Vol__________on __________ pages __________ to __________ as No_________

2. Will, dated __________, executed by __________, uncle of AA. bequeathing the said property to AA. (part of 3).

3. Probate of the said will issued on __________Case No__________ decided on __________, by the District Judge of __________

4. Registry Certificate showing that no charge or mortgage has been created within 12 years of the date hereof over the property aforesaid.

*MEMORANDUM: I, BB, do hereby acknowledge to have this day received the above-listed deeds and documents and undertake to redeliver the same intact (damage by fire or other inevitable accident only excepted) to the said AA. on receipt by me of the moneys secured by the equitable mortgage of even date.

DATED this the __________day of __________¸20 __________

Sd. BB

Mortgagee.

*Receipt of documents to be given by the Mortgagee to the Mortgagor.