Griha Prakash Kit
Griha Prakash Kit
Griha Prakash Kit
LIC HOUSING
FINANCE
LIMITED
GRIHA PRAKASH
DOCUMENTATION KIT
-1-
LICHFL
Griha Prakssh
INDEX
3. Receipt 5
4. Loan Agreement 6 – 28
5. Power of Attorney 29 – 33
-2-
LICHFL
Griha Prakssh
-3-
LICHFL
Griha Prakssh
PROMISSORY NOTE
Date : ______________
the LIC Housing Finance Ltd., or its assigns or its successors (“LICHFL”) a sum of
together with interest at the compounding rate of ________% per annum with
monthly rests or such other rates which the LICHFL may specify from time to time
with reference to the then prevailing LHPLR. Presentment for payment and noting
1/-
-4-
LICHFL
Griha Prakssh
RECEIPT
Application No. : _______
RECEIVED from the LIC Housing Finance Limited, Area Office _____________
____________ the sum of Rs. _______/- (Rupees _______________________
only) by Cheque No. ___________ dated ___________ drawn on the
___________________________________________ Bank ______________ in the
favour of me / us my / our vendor / builder at our request and authorization being the
Full Loan / First / Second / Third _______ instalments of the Loan of Rs.
_________/- (Rupees _________________________________________ only)
sanctioned to me/us Shri / Smt. _______________ S/o W/o ________________ Shri
/ Smt. ________________________________ S/o W/o ________________ Shri /
Smt _______________________________ S/o W/o All residing at
________________________________ under the terms and conditions contained in
the Loan Agreement dated _______________ in respect of one or two or more of the
following: the purchase / construction / extension / modification / renovation / repairs
of the residential plot / house / flat at ________________________________
_______________________________________________________________ .
Witnesses :
1)
2)
Name Signature
1) _________________ ________________
2) _________________ ________________
1/-
3) _________________ ________________
4) _________________ ________________
BORROWERS
-5-
LICHFL
Griha Prakssh
LOAN AGREEMENT
This Loan Agreement (“Agreement”) made and entered into at the place and on the
date as stated in the Schedule BETWEEN LIC Housing Finance Limited, a Company
incorporated under the Companies Act, 1956, and having its Registered Office at
Bombay Life Building, 2nd Floor, 45/47, Veer Nariman Road, Mumbai – 400 001 and
an Area Office as more particularly mentioned in the Schedule herein,, hereinafter
called ‘LICHFL’ (which expression shall unless the context otherwise requires,
include its successors and assigns) of the One Part AND the Borrower/s whose
name and addresses are as stated in the Schedule, hereinafter called “Borrower/s”
(which expression shall unless repugnant to the context or meaning thereof , be
deemed to mean and include his/ her/ their respective executors, administrators,
legal heirs) of the Other Part.
The LICHFL and the Borrower/s shall wherever the context permits be referred to as
the ‘Parties’.
Article 1.
DEFINITIONS
1.1 The following definitions apply throughout this Agreement unless otherwise
stated:
a) “Schedule” means the schedule written at the end of this Agreement
and constituting the part of this Agreement.
A) In the case of a flat, the entire built-up area (and any additions
thereto), the proportionate share in the common areas of the
_________________________ -6-
Signature of the Borrower/s
LICHFL
Griha Prakssh
building in which such flat is/will be situated and the
proportionate undivided share in the land on which the said
building is situated or is being/will be built.
B) In the case of a plot/ house, entire plot of land and the house
situated thereon or on which the house will be built.
h) “Purpose” shall mean any one or two or more of the following: the
purchase / construction / extension / modification / renovation / repairs
of the residential plot / house / flat by the Borrower/s.
m) “EMI Date” shall mean the date as mentioned in the Schedule on which
EMI or PEMII payment has to be made by the Borrower/s.
n) “Term” shall mean the period of the Loan as mentioned in the Schedule
or as may be extended due to the change in the rate of interest or as
may be extended by LICHFL at its sole discretion from time to time.
1.2 Any expression not defined in this Agreement but defined in the General
Clauses Act, 1897 shall have the meaning contained in that Act.
1.4 The term “BORROWER/S”, wherever the context so requires, shall mean to be
construed as, include more than one.
Article 2.
LOAN, INTEREST Etc.
2.1 Loan Amount: The LICHFL hereby agrees to grant to the BORROWER/S
and the BORROWER/S hereby agrees to avail from the LICHFL, the LOAN
mentioned in the Schedule in the manner and on the terms and conditions as
mentioned in this Agreement.
2.2 Interest
(a) In the event the BORROWER/S opts for the Floating Rate of Interest
offered by LICHFL, the special offer rate of interest stipulated in the
schedule shall be reviewed after the three (3) months from the date of
first disbursement and thereafter the interest shall be based on the LIC
Housing Prime Lending Rate (LHPLR) plus/minus the spread as
prevailing at the time of sanction (subject to quarterly review) as fixed
by LICHFL from time to time. The Revised Floating Rate of Interest will
be applicable with effect from 1 st January, 1st April, 1st July or 1st
October, as the case may be.
(b) In the event the Borrower/s opts for the Fixed scheme of interest for 3
years or for 5 years or 10 years as mentioned in the schedule ( “Period
of Interest “ ),, the rate of interest offered by LICHFL shall be the fixed
rate of Interest as provided in the Schedule for the Period of Interest
.However after expiry of the Period of Interest, the LOAN shall attract
Floating rate of interest based on the LIC Housing Prime Lending Rate
(LHPLR) plus/minus the spread prevailing at the time of sanction.
(c) The BORROWER/S shall reimburse or pay such amount as may have
been paid or payable by LICHFL to the Central or State Government on
account of any tax levied on interest (and/or other charges including
the PEMII) on the LOAN by the Central or State Government. The
reimbursement or payment shall be made by the BORROWER/S as
and when called upon to do so by LICHFL.
2.4 Details of Disbursement: LICHFL shall disburse the LOAN in one lump sum
or in suitable installments having regard to the needs of the BORROWER/S.
The Loan shall be disbursed after the Borrower/s’s own contribution has been
made for the same to the builder / developer /vendor, and such proof is
furnished to LICHFL by the BORROWER/S, as may be necessary or desired
by LICHFL. The disbursal towards construction/improvement of PROPERTY
shall be made only after the BORROWER/S commences the construction /
improvement work on the PROPERTY, and such proof is furnished to LICHFL
by the BORROWER/S, as may be necessary or desired by LICHFL. The
disbursal shall be in stages as per the progress of work as prescribed in the
internal guidelines of LICHFL, as applicable from time to time. The decision of
LICHFL in this regard shall be final, conclusive and binding on the
BORROWER/S. The BORROWER/S shall acknowledge the receipt, in the
form required by LICHFL, of each amount so disbursed.
(b) LICHFL shall have the right to adjust PEMII or any other dues against
undisbursed amount.
2.6 Amortization
i. Subject to Article 2.2 and the provision for variation of interest rates, etc.
contained in this Agreement the Borrower/s will amortize the Loan as
_________________________ -9-
Signature of the Borrower/s
LICHFL
Griha Prakssh
stipulated in the schedule, subject however that in the event of delay or
advancement of disbursement for any reason whatsoever, the date of EMI
shall be the date mentioned in the Schedule hereinbelow or as mutually
decided by the parties.
ii. In addition to (i) above, the Borrower/s shall pay to LICHFL, PEMII every
month, if applicable.
iii. Notwithstanding what is stated in Article 2.6(i) above and in the schedule,
LICHFL shall have the right at any time, to review and reschedule the
repayment terms of the Outstanding Amount thereof. In such event/s the
Borrower/s shall repay the Outstanding Amount thereof as per the revised
schedule as may be determined by LICHFL in its sole discretion.
iv. Save and except as provided under sub-article (v) below, for administrative
convenience the Equated Monthly Installment is intended to be kept
constant irrespective of variation in the Floating Rate, and as a result of
this the number of Equated Monthly Installments is liable to vary. No
intimation shall be given by LICHFL as to the number of Equated Monthly
Installments required to be paid by the Borrower/s upon each revision of
Floating Rate. The information as to the revision of applicable/applied
Floating rate during the financial year of LICHFL and the number of
Equated Monthly Installments payable from the last revision of Floating
Rate during such year shall be intimated by LICHFL to the Borrower/s
annually. The Borrower/s shall pay Equated Monthly Installments until the
LOAN together with interest is repaid in full.
vi. LICHFL shall have the right to vary its LIC Housing Prime Lending Rate
(LHPLR) / Floating Rate from time to time in such manner as LICHFL may
deem fit in its own discretion.
2.8 Pre-payment of LOAN: LICHFL may, in its sole discretion and on such
terms, as to pre-payment charges etc. as mentioned in the Schedule herein,
prescribe / permit prepayment / acceleration in payment of Equated Monthly
Installments (EMI) at the request of the BORROWER/S. In the event LICHFL
permits any prepayment/ acceleration, the repayment schedule for the Loan
may be amended /altered by LICHFL for giving effect to such prepayment /
acceleration, and such amended/altered repayment schedule shall be binding
upon the BORROWER/S. In the event of prepayment, the new repayment /
amortization schedule shall be effective from EMI Date of the subsequent
month.
2.11 Upfront Fees: BORROWER/S has / have paid to LICHFL the Upfront Fees
as notified in the Sanction Letter issued by the LICHFL to the Borrower.
BORROWER/S shall pay to LICHFL a commitment Fees as mentioned in the
schedule.
2.12 Liability of the BORROWER/s to be Joint and Several: Where the LOAN is
provided to more than one BORROWER/S or where the payment obligations
are secured by any guarantee, notwithstanding any thing herein stated, the
liability of the BORROWER/s / guarantors to repay Outstanding Amount and
to observe the terms and conditions of this Agreement and terms and
conditions of any other agreement/s / document/s that may be executed by
the BORROWER/S with LICHFL in respect of the LOAN or any other loan or
loans shall be joint and several.
ARTICLE 3
COVENANTS FOR SECURITY
3.1 Security for the loan: The Borrower/s covenants that the Loan and the
Outstanding Amount under this Agreement shall be secured by the Security
as LICHFL shall determine in its sole discretion, with the right to decide the
place, timing and type of the Security including the manner of its creation
and/or additional Security it may require and the Borrower/s shall create the
Security as may be decided by LICHFL: -
_________________________ - 11 -
Signature of the Borrower/s
LICHFL
Griha Prakssh
b) Assign in favour of LICHFL life insurance policy (ies) under such plan and
for such sum assured as may be required and approved by the LICHFL;
(b) Shall be in addition to and not in derogation of any other Security which
LICHFL may at any time hold in respect of the dues of BORROWER/S;
and
(c) Shall be available to LICHFL until all accounts between LICHFL and
the BORROWER/S in respect of the Outstanding Amount / Loan are
ultimately settled to the satisfaction of LICHFL.
Article 4
Conditions Precedent to Disbursement of LOAN
4.1 The obligation of LICHFL to make any disbursements shall be subject to:
_________________________ - 12 -
Signature of the Borrower/s
LICHFL
Griha Prakssh
iii. Utilization of prior Disbursement: The BORROWER/S shall have
provided, to LICHFL, proof to the satisfaction of LICHFL regarding
utilization of the proceeds of any prior disbursement.
(i) Evidence that all consents, approvals and permissions required for
availing of the LOAN and/or creation of Security have been obtained or
evidence to the effect that these are not required.
Article 5
COVENANTS
(c) Notify causes of delay: LICHFL shall promptly be notified of any event
or circumstances which might cause a delay in the commencement or
completion of the Construction of the PROPERTY or delay in the
acquisition of the PROPERTY.
(f) Compliance with rules etc.: All the terms and conditions of holding the
PROPERTY and all the rules, regulations, bye-laws, etc., of the
concerned Co-operative Society, Association, Limited company or any
other Competent Authority will be complied with. Maintenance and
other charges for the upkeep of the PROPERTY any other dues, as
may be payable in respect of the PROPERTY and/or for the use
thereof will be paid within due dates.
5.2 Notify Additions, Alterations: The Borrower/s shall notify and furnish details of
any additions to or alterations in the PROPERTY or the use of the Property
which might be proposed to be made during the pendency of the LOAN.
5.3 LICHFL’s Right to Inspect: The BORROWER/S agrees that any person
authorized by LICHFL shall have free access to the PROPERTY for the
purpose of inspection/supervising and inspecting the progress of construction
and the accounts of construction to ensure proper utilization of the LOAN. The
Borrower/s further agrees that LICHFL shall have free access to the property
for the purpose of inspection at any time during the pendency of LOAN.
(i) Costs, charges, expenses, incidental charges and other monies that may
have been expended by LICHFL in connection with recovery;
(iv) PEMII;
(v) EMI;
(vi) Loan.
(i) Let out or give on leave & license or otherwise part with the possession of
the PROPERTY or any part thereof.
(iii) Enter into any agreement or arrangement with any person, institution or
local or Government body for the use, occupation or disposal of the
PROPERTY or any part thereof.
(iv) Change use of the PROPERTY. Provided that if the PROPERTY is used
for any purpose other than the approved / permitted purpose, in
addition to any other action which LICHFL might take, LICHFL shall be
entitled to charge, in its sole discretion, such higher rate of interest as
might fix in the circumstances of the case.
(vi) Create any right of way or any other easement on the PROPERTY.
(vii) Stand surety for anybody or guarantee the repayment of any loan or
overdraft or the purchase of any asset other than the present Loan.
(viii) Leave India for employment or business or for long term stay abroad
for any other purpose without fully repaying Outstanding Amount as per
the rules of LICHFL then in force. Whether the stay is long term or not
shall be decided solely by LICHFL.
(ix) Execute any document, such as Power of Attorney, or any other similar or
other deed, in favor of any person to deal with the PROPERTY in any
manner.
_________________________ - 15 -
Signature of the Borrower/s
LICHFL
Griha Prakssh
5.6 The BORROWER/S, his heirs, legal representatives, executors,
administrators and successors are bound by the terms and conditions of this
Agreement. However, the BORROWER/S shall not be entitled to transfer or
assign any of his rights and obligations under this Agreement.
Article 6
BORROWERS’ REPRESENTATION AND WARRANTIES
c) That the BORROWER/S will promptly give written notice to LICHFL of:
_________________________ - 16 -
Signature of the Borrower/s
LICHFL
Griha Prakssh
f) Due payments of public and other demands: That the BORROWER/S
has paid and/or will pay when due, all public demands such as Income
Tax, Property taxes and all the other taxes and revenues payable to the
Government of India or to the Government of any State or to any local
authority and that at present there are no arrears of such taxes and
revenues due and outstanding.
h) That all the necessary approvals for availing the LOAN and creating
the Security / securities have been obtained or shall be obtained.
n) That until any moneys are due or outstanding under this Agreement,
the BORROWER/S shall ensure that the Insurance Policy/ies (wherein
LICHFL is a payee/beneficiary/assignee) are valid, subsisting and
operative by complying with the terms of issue of such insurance
policy/ies including the timely payment of the premium for such
policy/ies, and agrees to produce the necessary proof / receipts of such
validity / subsistence / operativeness to LICHFL whenever required.
q) The Borrower/s has/have not applied for loan from any other housing
finance companies/banks/NBFCs for financing the cost of acquisition of
the property nor has created any encumbrances in or over the property
in favour of any thirds party.
Article 7
REMEDIES OF LICHFL
If one or more of the events specified in “Events of default” shall have happened,
then LICHFL, by a written notice to the BORROWER/S may declare that the
Outstanding Amount payable by the BORROWER/S shall become payable forthwith
by the BORROWER/S to LICHFL under or in terms of this Agreement and/or any
other agreement/s, document/s subsisting between the BORROWER/S and
LICHFL, and upon such declaration the same shall become due and payable
forthwith and the Security created in favor of LICHFL shall become enforceable.
7.2 In case of the Event of Defaults or in case of any of the events happening as
stated hereinbefore, LICHFL would have the full rights to realize the
Outstanding Amount by selling, disposing off the Security or any part thereof
on such terms and for such price that the LICHFL thinks fit, and apply the net
proceeds towards the satisfaction of the Outstanding Amount under intimation
to the Borrower/s.
(ii) The collection of amounts due under the LOAN shall be charged to
the BORROWER/S and reimbursed by the BORROWER/S as
LICHFL shall specify.
7.5 Issue of certificates: LICHFL may issue any certificate as regards payment
of any amounts paid by the Borrower/s to LICHFL in terms of this Agreement
only if the Borrower/s has paid all amount due under the Agreement to
LICHFL and the Borrower/s has complied with all the terms of this Agreement.
Article 8
WAIVERS
Article 9
EFFECTIVE DATE OF TERMS AND CONDITIONS
This Agreement shall come in force from the date of signing of this Agreement and
shall remain in force and effect until all the Outstanding Amount due and payable to
LICHFL under the LOAN as well as other agreements/ documents that may be
subsisting/executed between the BORROWER/S and LICHFL is fully paid.
Article 10
Miscellaneous
10.1. LICHFL may return the Security to either or any of the Borrowers or their
representatives , guarantors or person in possession of the property notwithstanding
any contrary advice/intimation from either/any of the Borrowers at a later date. Any
such return or release or handing over of the Security shall discharge LICHFL of any
obligations in respect of the Security and none of the Borrower/s shall dispute or
challenge the same.
(a) All monies due and payable by the BORROWER/S to LICHFL under or
in terms of the Loan / Agreement shall be paid at the address
mentioned in the Schedule hereto or at such other place or address as
LICHFL may require or stipulate.
(b) LICHFL shall apportion the monies credited to the account of the
BORROWER/S with its office as aforesaid towards repayment of LOAN
and Interest in accordance with this Agreement. Any amount deposited
by the BORROWER/S before the date on which it is to be appropriated
for repayment of any amount due to it shall be appropriated by LICHFL
towards repayment of the amounts due only on its due date and no
interest shall be paid for the unappropriated amount or for interim
period till the dues are actually appropriated.
_________________________ - 21 -
Signature of the Borrower/s
LICHFL
Griha Prakssh
10.4 The BORROWER/S shall permit inspection, of all books of accounts and
other records maintained by him, by LICHFL in respect of the LOAN to the
persons authorized by LICHFL.
10.5 Terminal Benefits: The entire Outstanding Amount, shall be payable by the
BORROWER/S to LICHFL, if the BORROWER/S opts for any scheme or
accepts any offer from his employer providing any benefit on resigning or
retiring from the employment prior to superannuation or upon the employer
terminating his employment for any reason or upon the BORROWER/S
resigning or retiring from the service of the employer for any reason
whatsoever. The outstanding dues may be paid from the amount or amounts
receivable by him from the employer under such scheme or offer or any
terminal benefit as the case may be. Provided however in the event of the
said amount or amounts being insufficient to repay the said sums to LICHFL
in full, the unpaid amount remaining due to LICHFL shall be paid by the
BORROWER/S in such manner as LICHFL may in its sole discretion decide
and the payment will be made by the BORROWER/S accordingly. LICHFL is
irrevocably authorized to communicate with and receive the said amounts
from the employer of BORROWER/S directly. The BORROWER/S shall also
authorize his employers to pay its terminations/retirement benefits direct to
LICHFL and shall give discharge to his employers for the payment so made
direct, to LICHFL.
_________________________ - 22 -
Signature of the Borrower/s
LICHFL
Griha Prakssh
10.7 Sharing of Information: The BORROWER/S hereby authorizes LICHFL or its
subsidiaries / affiliates and their agents to exchange, share or part with all the
information relating to the BORROWERS’ LOAN details and repayment
history, information and all information pertaining to and contained in this
Agreement to affiliates / subsidiaries of LICHFL/ Banks / Financial
Institutions / Credit Information Bureaus / Agencies / Statutory Bodies as may
be required and undertakes not to hold affiliates / subsidiaries of LICHFL and
their agents liable for use of the aforesaid information.
10.9 Without prejudice to rights of LICHFL under Chapter XVII of the Negotiable
Instrument Act. 1881 or their rights under this Agreement, the BORROWER/S
shall pay charges to LICHFL, as decided by LICHFL from time to time, in case
of dishonor of the cheque or ECS mandate on the first and subsequent
presentations. LICHFL shall have the right to debit the Borrower/s’ account
pending the recovery of the charges.
10.10 Any and all stamp duties, legislation fees or other taxes/levies, in respect of
the LOAN and/or in respect of the documents evidencing/concerning the
LOAN and/or any penalty/is that may be imposed, shall be borne and paid for
only by the BORROWER/S. If the BORROWER/S fails to pay the same,
LICHFL will make such payments, in which event such amounts paid by
LICHFL will form part of the principal amount of the LOAN disbursed.
To the BORROWER/S:
_________________________ - 23 -
Signature of the Borrower/s
LICHFL
Griha Prakssh
The address as stated in the Loan Application or at the option of LICHFL at
the PROPERTY address described in the Loan Application. The Notice shall
be deemed to be received by the Borrower/s: - (i) if sent by post on the
expiration of 3 days after the same shall have been delivered to the post
office; (ii) if given by telegram, on the expiration of 24 hours after the telegram
shall have been delivered to the telegraph office for transmission; and (iii)_if
delivered personally, when left at the address of the BORROWER/S as
aforesaid, and a certificate by an officer of LICHFL who sent such notice or
communication that the same was so given or made shall be final and
conclusive..
To LICHFL
When it shall have been actually received by the concerned office of LICHFL
10.12 Change in address: The Borrower/s shall keep LICHFL informed as regards
any changes in his address for service of notice.
10.13 Jurisdiction
(a) The Parties hereby agree that any legal action or proceedings arising
out of this Agreement shall be brought in the courts or tribunals at
Mumbai in India and irrevocably submit themselves to the Jurisdiction
of such courts and tribunals. LICHFL may, however, in their absolute
discretion commence any legal action or proceedings arising out of this
Agreement in any other court, tribunal or other appropriate forum
BORROWER/S hereby consents to that jurisdiction.
1.
2.
Signed and Delivered by the )
withinnamed Borrower/s )
)
in the presence of )
1.
2.
I have read out and explained the contents of the Agreement and all other
documents incidental to availing the Loan from LICHFL to the Borrower/s i.e. Mr./Ms.
___________________________ and he/she/they have understood the same and
do hereby agree to abide by all the terms and conditions of the Loan and clauses of
the same.
I declare that whatever I have stated hereinabove is true and correct to the best of
my knowledge and belief.
Signed
Name: ______________________
Relation to Applicant: _________
Signature of Applicant/ Co-applicant
signing in Vernacular Language /
Affixing of thumb impression
Date: _______________________
_________________________ - 25 -
Signature of the Borrower/s
LICHFL
GRIHA PRAKASH
SCHEDULE
Loan Application Number
1. Place of Execution
2. Date of Execution.
6 Rate of Interest
(Indian Rupees )
13 Amortization
14 Additional Interest
- 26
LICHFL
GRIHA PRAKASH
18 Address of LICHFL where the
payment can be made by the
Borrower/s
SIGNED, SEALED AND DELIVERED )
by LIC Housing Finance Limited by the )
hand of its Authorised Signatory / )
Constituted Attorney Mr.____________)
In the presence of
1.
2.
Signed and Delivered by the )
withinnamed Borrower/s )
)
in the presence of )
1.
2.
I have read out and explained the contents of the Agreement and all other
documents incidental to availing the Loan from LICHFL to the Borrower/s i.e. Mr./Ms.
___________________________ and he/she/they have understood the same and
do hereby agree to abide by all the terms and conditions of the Loan and clauses of
the same.
I declare that whatever I have stated hereinabove is true and correct to the best of
my knowledge and belief.
Signed
Name: ______________________
Relation to Applicant: _________
Signature of Applicant/ Co-applicant
signing in Vernacular Language /
Affixing of thumb impression
Date: _______________________
(Not to be attested)
- 27
LICHFL
GRIHA PRAKASH
IRREVOCABLE POWER OF ATTORNEY
SEND GREETINGS:
WHEREAS I / We are absolutely seized and well possessed of the premises being
the residential plot / house / flat situated at ________________________
______________________________________________________, hereinafter
referred to as “Premises” more particular description of which is given in the
schedule hereunder written.
AND WHEREAS in consideration of I/We having taken a loan for a sum of Rs.
________/- (“Loan”) from LIC Housing Finance Limited, a Company incorporated
under the provision of the companies ACT, 1956 and having its Registered Office at
Bombay Life Building, 2nd Floor, 45/47, Veer Nariman Road, Mumbai – 400 001 and
an Area Office __________________________ __________________________
(“LICHFL”) for any one or two or more of the following: the purchase / construction /
extension / modification / renovation / repairs of the Premises (“Purpose”) have
executed a Loan Agreement dated ___________ entered between me / us and
LICHFL (“Loan Agreement”).
AND WHEREAS one of the securities stipulated in the sanctioned terms and as
reproduced in the Loan Agreement was execution of an irrevocable Power of
Attorney to create charge on the property more specifically described in schedule on
my / our behalf in the form and in the manner as provided by LICHFL.
NOW KNOW YE ALL AND THESE PRESENT WITNESSETH that I/we the above
named do hereby irrevocably nominate, constitute and appoint LICHFL (hereinafter
referred to as “the Attorney”), acting through any of its directors or employees or
officers, to be my/our true and lawful attorney for me/us, in my/our name and on
my/our behalf and at my/our cost and risk to from time to time do, execute and
perform all or any of the following acts, deeds, matters and things , that is to say:
- 28
LICHFL
GRIHA PRAKASH
1. To create and execute mortgage (in a form and on terms and conditions to
be determined by the Attorney in its sole discretion) including Equitable
Mortgage / Mortgage by Deposit of Title Deeds over and in respect of the
Premises (or any part thereof) in favour of the Attorney and /or any
assigns / nominee of the Attorney.
3. To apply for and obtain the necessary certificate(s) and permissions under
Section 281(1) and/or any other provisions of the Income Tax Act, 1961
and/or under the Urban Land (Ceiling & Regulation) Act, or writings that
may be necessary for registration of the said deed(s) / mortgage and all
other deeds documents and writings and for the above purpose to make
and sign any application, declarations and other writing as may be
required and to appear for and on behalf of me/us before the concerned
authorities and pay and discharge all sums and liabilities if any, and
reimburse to itself all such sums so paid from my/our account with
interest.
4. To sign and file any applications, statements, documents and other papers
as the Attorney may think fit and/or may be required under the provisions
of any law and in particular, to apply for and obtain necessary permissions
and consents of the Government, Semi- Government the Competent
Authority and/or- any co-operative society, company or other association
of flat owners as may be necessary for creation of such mortgage and/or
execution and registration of the said deed(s) mortgage and for the above
purpose to appoint any nominee/agent to appear for me/us and my/our
behalf before Government and/or the Competent Authority and/or other
authorities and to incur on my/our behalf all costs, charges and expenses
in that behalf as also to engage solicitors, advocates, architects, values
and other persons concerned for purpose and to pay any such sum as
may be payable in that behalf and claim the same amount with interest
from me/us.
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LICHFL
GRIHA PRAKASH
applicable thereto for the time being in force for the registration of
documents and to present for registration the deed(s) and documents(s)
executed by virtue of these presents and so to admit execution thereof
and to do or cause to be done all such acts, deeds, matters and things as
may be necessary or proper for the effectual completion and registration
of the said deed(s) or mortgage and all other deed(s) and documents so
executed in the land registry, collector and other revenue authorities as
well as the Registrar of Companies or otherwise howsoever.
10. To insure the said Premises from/against all risks and liabilities;
11. To pay all taxes and other dues in relation to the premises, including but
not being limited to the dues of any society, company or other association
concerning the premises;
AND I/We do hereby authorize and empower THE ATTORNEY to appoint any person
or persons as its substitute or substitutes to exercise, execute and carry out all the
powers, acts, deeds and things which THE ATTORNEY itself is hereby authorized
and empowered to exercise, execute and carry out and to remove any such
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LICHFL
GRIHA PRAKASH
substitute or substitutes and appoint another in his, her to their place or places from
time to time.
AND I / We do hereby declare that any and all acts, deeds, matters, things, which
may be done or executed pursuant to this Power of Attorney shall be good, valid
effectual to all intents and purposes whatsoever as if the same has been done and
executed by me/us AND I/We hereby ratify and confirm all and whatsoever the
Attorney shall do or caused to be done by virtue of these presents.
AND I/We hereby confirmed that this Power Of Attorney executed in favour of THE
ATTORNEY an authority coupled with interest and hence is irrevocable and that I/We
shall not myself/ourselves or through any other attorney (other than the Attorney
appointed hereunder) do any act, deed or thing which the Attorney is authorized to
do hereunder if such act, deed or thing would be prejudicial to THE ATTORNEY’s
interest; and any such act, deed or thing done by me/us in contravention of the
provisions of this clause shall be void and ineffective and shall be subservient to and
overridden by the provisions of this Power of Attorney and the acts, deeds and
things done by the Attorney pursuant hereto.
IN WITNESS WHERE OF I/We have hereto set my/our hand / affix our common seal
on this day of Two thousand and
IN THE PRESENCE OF
1.
2.
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LICHFL
GRIHA PRAKASH
DECLARATION FOR SIGNING IN VERNACULAR LANGUAGE / AFFIXING OF
THUMB IMPRESSION
I have read out and explained the contents of the Irrevocable Power of Attorney and
all other documents incidental to availing the Loan from LICHFL to the Borrower i.e.
Mr./Ms. ___________________________ and he/she/they have understood the
same and do hereby agree to abide by all the terms and conditions of the Loan and
clauses of the same.
I declare that whatever I have stated hereinabove is true and correct to the best of
my knowledge and belief.
Signed
Name: ______________________
Relation to Applicant: _________
Signature of Applicant/ Co-applicant
signing in Vernacular Language /
Affixing of thumb impression
Date: _______________________
(Not to be attested)
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