DEED OF MORTGAGE

THIS DEED OF MORTGAGE is made and executed at Nagpur on this ___ day of May
2020

BETWEEN

___________ (PAN NO._________ ) Age ____ Years, Occupation: _________ R/at.:

_____________________________ HEREINAFTER CALLED AND REFERRED TO AS THE
“MORTGAGOR/ BORROWER” (Which expression shall unless it be repugnant to the context
and meaning thereof shall mean and include all his /her legal heirs, executors, administrators,
agents, assignees etc.)
….PARTY OF THE FIRST PART.

AN D

THE ___________________________ BANK LTD., PUNE,

A corporate body formed and established and registered under Multi state Co-op. Societies Act
and Banking Regulation Act, having its Registered office at
__________________________________ and One of its Branch at
_____________________ Through its authorized Bank Officer ____________ Age: Years
Occupation: Service, R/at Nagpur HEREINAFTER CALLED AND REFERRED TO AS “THE
BANK/THE MORTGAGEE” (Which expression shall unless it be repugnant to the context
and meaning thereof shall mean and include its administrators, executors, directors, assignees
etc.)
…..PARTY OF THE OTHER PART

WHEREAS all that piece and parcel of property being Residential House Tenement No, ___
area admeasuring about _____ Sqm. out of Kh. Nos. ______, bearing City Survey No. ____ of
Mouza ________ bearing NMC House No. ______, Ward no. _______, Near ________ Post
Office ________, ____________ (hereinafter referred to as “said Property/House”) and the said
Property/House is more particularly described in the Schedule written hereunder is the subject
matter of the present Deed of Mortgage

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 -2-

AND WHEREAS the Mortgagor/s herein have agreed to purchase the Industrial Land and Unit
bearing Plot No. __________ , Industrial Growth Center Mouza _____________on, Tah
______ar & Distt. _______ for consideration of Rs._________ by Agreement to Sell dated
_____________ From ___________ acting through its partner ___________

AND WHEREAS the Mortgagor so far have paid Rs.

to the ______________________ and approached to the bank by way of Term Loan (for
purchase of commercial property) for payment of balance consideration to the
______________________ /Vendor and offered the said unit also as security to the loan.

AND WHEREAS, M/s ____________, a Proprietary Concern acting through its Proprietor Shri.
_____________i.e. Borrower herein have approached to the bank and applied for Term Loan
of Rs. 50,00,000/- (Rs. Fifty Lakh Only) for payment of balance consideration to the
______________________ /Vendor in respect of said Industrial Land and Building and offered
the said Property/House as security to the loan.

AND WHEREAS, the Mortgagor/Borrower herein are the members of the Mortgagee
Bank have approached the bank for Term Loan of Rs. 50,00,000/- (Rs. Fifty Lakh
Only) vide application dated ______ and offered guarantors and their personal property
i.e. all that piece and parcel of property being Residential House Tenement No, ___ area
admeasuring about _____ Sqm. out of Kh. Nos. ______, bearing City Survey No. ____ of
Mouza ________ bearing NMC House No. ______, Ward no. _______, Near ________ Post
Office ________, ____________ as Collateral security for the same which is more
particularly described in the Schedule written hereunder.

AND WHEREAS taking into consideration the bonafide need of the Borrower herein and in view
of Guarantors offered by the Borrower and immoveable property offered as security by the
Mortgagor/Borrower herein said Mortgagee Bank in its meeting vide sanction no.
__________________ dated ________ sanctioned the Term Loan of Rs. 50,00,000/- (Rs.
Fifty Lakh Only) to the Mortgagor/Borrower and Mortgagor/ Co-Borrower on the condition
that the Mortgagor herein shall execute the Mortgage in order to secure the repayment of the
said Term loan, its repayment together with interest and other moneys and thereby mortgaged
the said Property/House which is more particularly described in schedule written hereunder
with the mortgagee bank upon execution of demand pro-note and other

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documents and upon condition of its repayment with interest and other moneys and by
observing all other terms and conditions and the bye-laws and the rules of the said loan and the
directives of the RBI and/or the resolution passed by the Board of Directors of the bank relating
to the aforesaid loan and transaction and upon the terms and conditions stated herein below.

AND WHEREAS the Mortgagee bank has issued separate sanction letter no. ______ dated
to the Borrower and Co-Borrower herein to that effect and the Mortgagors have acknowledged
the said sanction letter and thereby accepted the terms and conditions stated therein.

AND WHEREAS the Mortgagor/Borrower and Mortgagor/Co-Borrower herein have

executed affidavit dated and affirmed that the said Industrial Land and Building which is
described in the schedule written hereunder is free from any encumbrances, charges, lien and
litigation.

NOW THIS INDENTURE WITNESSETH AS UNDER:

1. In pursuance of the agreement and execution of this Indenture the Mortgagee Bank has
lent and advanced and/or to be advanced the TERM LOAN i.e. sum of Rs.
50,00,000/- (Rs. Fifty Lakh Only) by operating the Term loan account in the Mortgagor/
Borrower and Mortgagor /Co-Borrower’s name upon execution of this indenture, the
mortgagee bank disbursed to the Borrower / Mortgagor and Co-borrower /Mortgagor the said
loan amount sum of Rs. /- as per the terms of sanction, the receipt whereof the
Borrower/ Mortgagor and Co-Borrower/ Mortgagor doth hereby admit and acknowledged the
receipt of the said payment and of and from the same and every part thereof for ever acquit,
release and discharge the Mortgagee Bank.

2. The Borrower / Mortgagor and Co-Borrower/Mortgagor hereby covenant with the bank
that they shall make the repayment of TERM LOAN OF Rs. 50,00,000/- (Rs. Fifty Lakh
Only) , within the period of years (Moratorium period ) with interest as stated herein
below:-
(1) Interest rate -
(2) Period - Years

(3) EMI -

3. The Mortgagors/ Borrower and Co-Borrower agree and further covenant with the bank
that the Mortgagors/Borrower and Co- Borrower shall make the repayment of the Term Loan of

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Rs. 50,00,000/- (Rs. Fifty Lakh Only) by monthly installments and with the interest as
stipulated in the sanction letter and hereinabove or at such rate as the Bank may be fixed from
time to time as per the directives of R.B.I.

4, The Mortgagors/Borrower and Co-Borrower hereby covenant with the Bank that they will
make the repayment of the principal sum of Rs. /- by installments and the interest thereon
at the agreed rate stated hereinabove, the Mortgagors shall pay the first installment sum of Rs.
/- together with the interest upon the principal sum of Rs. /- on the day
and the month stated in the sanction letter and further installments shall be continued for every
further month as per the terms of sanction until repayment of the total principal loan.

5. The Mortgagors agreed and undertake to pay the each and every installment of the
loan amount regularly and punctually and in any circumstances if the Mortgagors fail to pay or
commit any delay the payment of the installments on its due date the Mortgagors agree to
pay the additional interest @ p.a. till the repayment of such arrears of installment and/or
any other moneys.

6, For the consideration aforesaid and as a security for the repayment of the Mortgage
Debt Rs. 50,00,000/- (Rs. Fifty Lakh Only) together with interest thereon and expenses
thereto, the Mortgagors doth hereby charge, assure and mortgage by simple mortgage all
rights, title and interest held and acquired and possessed by the Mortgagors and to be
acquired hereinafter in the property described in the schedule written hereunder and that the
said deed further witness and it is hereby agreed and declared by and between the parties that
in case of the said Term loan with the interest and the expenses is not paid within the time as
agreed hereinabove in the form and in the manner as stated in this Indenture and/or any other
agreement executed by the Mortgagors and/or if the Mortgagors fail to pay any two installments
or the amount equal to two installments it shall be lawful for the Mortgagee Bank to enforce this
mortgage and to cause the property sold and appropriate the proceeds towards satisfaction of
the mortgage debt, provided the Mortgagors shall be entitled to get redeemed the said
mortgage by the payment of the mortgage debt inclusive of interest even on or before the time
provided for the repayment of both the loan amounts and this deed further witness the
Mortgagors/Borrower and Co-Borrower doth hereby covenant with the Mortgagee Bank that
notwithstanding any act, deed or things here before done, executed or performed or suffered
to the contrary the Mortgagors have good title, full power and absolute authority to charge,
assure, and mortgage the said property in the manner herein effected and that the same is
free from all the encumbrances, attachment and litigation.

7. The Mortgagors indemnify and save harmless and indemnified the mortgagee bank
from or against all the liabilities, damage, costs, charges and expenses, fees, penalty action,

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suit judgments, arising from and in respect of the mortgaged property or in respect of any other
contract or agreement affecting any part of the mortgaged property or in respect of anything
done or to be done in connection with this security and the Mortgagors will at his/her costs and
expenses defend any and all such action which may be brought against the bank or in which the
bank may be impeded with other upon any such above mentioned claims and claim and in the
event of the failure of the Mortgagors to do so the bank may at the cost and expenses of the
Mortgagors to defend any or all such suits, and actions, pay and discharge and all judgments
and decree or orders that may be passed or to be passed or to be enforced against the bank in
such suits or action in which the bank may be party/defendant or in which the bank may be
impeded with the others and in the event of failure of the Mortgagor and the Mortgagors
to pay the amount for which the bank shall become liable as aforesaid then the bank may pay
the same and recover the Mortgagors with interest thereon at the rate aforesaid then the bank
may pay the same and recover from the Mortgagors with interest thereon at the rate aforesaid
or at the rate from time to time which may charge and the amount having been so paid by the
Mortgagors shall be charge on the mortgaged property until its repayments by the
Mortgagors.

8. In the event of mortgaged property or any part thereof or any interest therein being at
any time acquired or requisitioned by the Central Govt., State Govt. or any other public body or
local authority for public purpose under any law for the time being in force or otherwise they shall
notwithstanding that the entire principal sums or the any balance thereof payable under these
presents shall not have immediately become due be entitled to receive the compensation to
which the Mortgagors may be entitle to receive or declared entitle and to apply the same or a
sufficient portion thereof towards the repayments of the moneys for the time being due under
these presents including interest and all proceedings for ascertainment and appointment of
compensation payable for the property hereditaments and the proceedings shall be conducted
by the Mortgagors through the Attorneys, councils, valuers and engineers of the bank but if the
Mortgagors shall not do so the bank shall be entitled to engage its attorneys and councils,
valuers, and engineers and the Mortgagors shall pay on demand to the bank all costs, charges
and expenses that may be incurred by the bank with interest thereon at the rate aforesaid from
the time and the same having been so incurred and that until such repayment the same shall be
a charge on the mortgaged property

9. The Mortgagors agree to pay all costs, charges, expenses between attorneys and
client which in anywise be incurred or made by the bank incidental to or in connection with the
security hereby constituted as well as for the protection, preservation of security of the
mortgaged property and for the demand, realization and recovery of the amount of the principal
and interest secured by these presents or any part thereof in anywise connected with the
exercise of any of the power contained in these presents and the same shall be paid on

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demand by the Mortgagors to the mortgagee with interest thereon at the rates aforesaid from
the time of the same having been so incurred and that until such repayment the same shall be
a charge of the mortgaged property.

10. Nothing herein shall contained shall prejudice or affect any right to which the bank is
by law or otherwise entitled and that the mortgaged property shall not in anywise be redeemed or
redeemable until the payment of the covenant in that behalf hereinabove contained together with
any other moneys due under these presents or payable under any other document and any
indulgence or time given to the Mortgagors by the bank for the purpose shall not prejudice the
right of the bank in any way or be deemed as waiver by the bank or its rights whatsoever.

11. Any act required or permitted to be done by the bank under these presents may be done
by the Managing Director of the bank or any other officer of the bank appointed on his behalf.

12. The Mortgagors further agrees that for the purpose of last preceding clause, any delay
or default committed by the Mortgagors shall be treated as default and such default shall be
entitled to the bank to recover the entire amount then due, notwithstanding that the default may
have been committed in payment of principal sums.

13. The Mortgagors agree to pay all taxes assessed by the concerned authorities in respect
of the mortgaged property to the concerned authority from time to time and in all times and to
furnish certified Xerox copies thereof to the bank for the record by furnishing the same within the
period of one week of payment of the said taxes.

14. The Mortgagors agree to pay all taxes assessed by the concerned local authorities or
any other authority in respect of the mortgaged property to the concerned authority from time to
time and in all times and to furnish certified Xerox copies thereof to the bank for the record
by furnishing the same within the period of one week of payment of the said taxes.

15. The Mortgagors agreed to insure the mortgaged property for an amount as per bank’s
policy, such insurance to be obtained against the risk or fire, earthquakes, damage by cyclone,
civil-commotion, flood or avalanche and against all other foreseeable risks and to keep the
same policy in force by paying the premia thereof sufficiently in advance of the date prescribed
for the payment thereof during the currency of the mortgage debt and/or till the repayment of
all the dues payable by the Mortgagor to the Mortgage bank.

16. The Mortgagors agree that in all policies or insurance to be obtained by him/her as
aforesaid, he will enter the name of the bank as the beneficiary entitled to receive the
entire compensation in unfortunately and occasion arises to claim the same during the
currency of the mortgage debt. Mortgagors agree that all the insurance policies so obtained by

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them shall be obtained from the Nationalized General Insurance Company or any other
Insurance Company approved by the bank and that the policies as also the cover notes
obtained from the Insurance Company/ Insurance will be delivered by them to the bank within
three days of obtaining the same. The Mortgagors further agree that the 1st such insurance
policy in respect of the building shall be obtained by them and the cover notes delivered to the
bank. The Mortgagors further agree if they within the agreed period, failed to insure the said
property, the bank shall be entitled to insure the said properties on behalf of the Mortgagor to
pay the premia therefore by obtaining the same to the Term Loan account opened in the name
of the Mortgagors and thereafter if the Mortgagor committing delay or default in renewing the
policies of insurance sufficiently in advance of the expiry of the cover obtained under the
original policy, the bank shall be entitled to obtained such renewals of the policies and to
debit the amount to the Term Loan account of the Mortgagor . The Mortgagors agree that the
liberty hereby granted to the bank to obtain such insurance cover does not in any way cast any
obligation on the bank to obtain such insurance cover but that it is only permissive and that
the risk and obligation for obtaining such cover and shall continue to be that the Mortgagor.

17. The Mortgagors agree that in the event of it having come to the notice of the bank that
the Mortgagors/ Borrower and/or Co- Borrowers have committed default in payment of taxes,
cess payable to the concerned authorities when due, the bank shall call upon the
Mortgagors / Borrower /Co-Borrowers to pay the same within the period of the one week of the
date of receipt of the notice in that behalf and in case the Mortgagors/ Borrower and /or Co-
Borrower shall not reported compliance of the demand thereon made with in one week of the
receipt of the notices the bank may but without in any way being bound so to be or amounts
claimed or demanded by the concerned authority by debiting the same to the account of the
Mortgagors/ Borrower and Co-borrower and all such debts. The amount so debited shall form
part of the mortgage debt and shall carry interest as per terms of sanction, the said amount so
paid by the bank shall payable along with the installment of existing principal amount then due
if the same shall not have been so paid, the same shall carried the additional interest @ %
p.a. till the same shall have been paid in full along with interest and additional interest.

18. The Mortgagors agree to keep the mortgaged property mentioned in schedule written
hereunder in good and tenable state or repair, colour other rectification and insuring that the
market value of the property does not deteriorate on account of any ground or reason thereto.

19. The Mortgagors agree that on the part of the Mortgagors committing any delay or
default as aforesaid the bank shall entitled to get possession of the mortgaged property by
evicting the Mortgagors and any other person on their behalf and sell the mortgaged property
together with all right, in the land through its Recovery Officer to be appointed under the
provisions of Multi State Co-op. Societies Act, the Mortgagors/ Borrower and Co-Borrower agree
that the bank shall have right to adopt the same remedy either concurrently with the other

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remedies set out in the clauses written hereinabove or in one after other in such sequences as
the bank in its sole discretion deem fit expedient to do so.

20. The Mortgagors further agree that all the costs, charges, expenses relating to the
recovery proceedings if adopted shall stand charged as part of the mortgage debt and shall be
recoverable in property to the other amounts then due and for the said purpose the bank shall
entitled to adopt all recovery procedures available to it under the account of the Mortgagors/
Borrower and Co-borrower and all such debts. The amount so debited shall form part of the
mortgage debt and shall carry interest as per terms of sanction, the said amount so paid by the
bank shall payable along with the installment of existing principal amount then due if the same
shall not have been so paid, the same shall carried the additional interest @ % p.a. till the
same shall have been paid in full along with interest and additional interest.

21. The Mortgagors agree to keep the mortgaged property mentioned in schedule written
hereunder in good and tenable state or repair, colour other rectification and insuring that the
market value of the property does not deteriorate on account of any ground or reason thereto.

22. The Mortgagors agree that on the part of the Mortgagors committing any delay or
default as aforesaid the bank shall entitled to get possession of the mortgaged property by
evicting the Mortgagors and any other person on their behalf and sell the mortgaged property
together with all right, in the land through its Recovery Officer to be appointed under the
provisions of Multi State Co-op. Societies Act, the Mortgagors/ Borrower and Co-Borrower agree
that the bank shall have right to adopt the same remedy either concurrently with the other
remedies set out in the clauses written hereinabove or in one after other in such sequences as
the bank in its sole discretion deem fit expedient to do so.

23. The Mortgagors further agree that all the costs, charges, expenses relating to the
recovery proceedings if adopted shall stand charged as part of the mortgage debt and shall be
recoverable in property to the other amounts then due and for the said purpose the bank shall
entitled to adopt all recovery procedures available to it under the law for the time being in force
whether any such procedure has been referred to herein or not.

24. On the repayment of entire Term Loan of Rs.

Lacs along with interest and any other money or moneys to be payable by the
Mortgagors then due, the bank agrees to recovery all the right, title and interest in the property
described in the schedule written hereunder.

25. Any notice required to be served on the Mortgagors shall for the purpose of these
present deemed to be sufficiently and properly served if it left at the usual or last known place

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abode of the Mortgagors affix so any part of the property hereby mortgaged and services of
such notices shall also be deemed to be sufficiently, properly, and duly effected if it sent by
prepaid post in registered cover addressed to the Mortgagors at the mortgaged property and
such service shall be deemed to have been made at the time of which such register letter
could originally posted or it be delivered even though return unserved for any person
whatsoever and it is hereby agreed and declared that section 67(a) of the Transfer of Property
Act shall not apply to these present and that the bank notwithstanding it may be hold to or
more mortgage executed by the Mortgagor/ Borrower and Co-Borrower including this mortgage
in respect of each or which it may have right to obtain the same kind act and shall be entitled
to sue and obtain decree/award or any of such mortgage without bound to on all such
mortgages in respect of which the mortgagee money shall become due.

26. No representative or agent of the bank will be entitled or permitted to make any
representation of to very or modify these present in any way and any additions to or alterations
of or charge in these presents or other arrangements or additions made hereafter just or
order to be binding be made in writing andsigned by all the parties and that the provisions
herein cannot be waived except in writing duly signed by the Managing Director of the Bank.

27. It is further agreed and declared that the institution of any suit by the bank for the
recovery of mortgage debt or for enforcement of any right the bank shall be entitled to apply to
the court for appointment of receiver for mortgaged property and the Mortgagors shall be consent
to such appointment of receiver.

28. It is further agreed and declared that during the continuance of this security by the bank
shall or its authorized representatives shall be entitled to inspect the mortgaged property with a
view to seeing the state or repair and conditions thereof.

29. It is further agreed that the bank shall not answerable, accountable for any
involuntary loss they may accrues happened in or about the exercise or execution of the
aforesaid powers and trusts or any of them.

30. It is further agreed and declared that the Mortgagee Bank is the institution registered
under the Multi State Co-op. Societies Act, the Mortgagor / Borrower and Mortgagor/Co-
Borrower are the members of the mortgagee bank, the rules, regulations and the provisions of
the bye-laws of the Mortgagee Bank are well acquainted to the Mortgagor / Borrower and
Mortgagor/Co- Borrower undertake to abide all such rules, regulations and bye- laws of the
bank or the committee members of the bank relating to the transaction under these presents.

31. The Mortgagors herein have executed other documents including promissory notes and
other agreements in consideration of the amount received under these presents, the terms
and conditions of such agreements and D.P. Notes are equally binding upon him/her/them.

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32. The Mortgagor/Borrower and Mortgagor/Co-Borrower undertake to use the Term Loan
amount for the reason/purpose which is specifically stated in the loan application and not for any
other purpose.

33. It is further agreed and declared that in continuance of this security that at the request
of the Mortgagors /Borrower and Co- Borrower if the mortgagee bank grant, advance and/or
lent any additional amount or further advance as clean loan or against any other security, the
charge of such loan amounts shall be remained on the property described in the schedule
written hereunder and the Mortgagors shall not get the right of redemption until repayment of
such advance or loans or other moneys with the interest and the expenses.

34. The Mortgagors further covenants with the mortgagee bank that the Mortgagors shall
not sale, gift, lease or transfer by any other manner or part with the possession to any other
persons and/or shall not create any other charge or encumbrances in continuance of these
presents and/or until the repayment of all the dues payable by the borrower to the mortgagee
bank.

35. In the event of any portion of this Indenture being void or becoming void in that event
the only such portion of the Indenture will be unenforceable but the rest of the Indenture shall be
always enforceable.

36. The Mortgagors/Borrower and Co-Borrower have borne all the expenses of this
Indenture including stamp duty, Registration fees, process, charges, expenses etc. and
agrees to pay the professional fees of the bank's advocate and allow the bank to debit the said
professional fees in account of the Mortgagor and to pay the said sum to the advocate of the
bank without further written consent of the Mortgagor.

37. The Mortgagor/Borrower and Mortgagor/Co-Borrower hereby agreed and declared that
in the event of default in observance and performance of the terms pertaining to the repayment
of Term Loan together with interest and / or other moneys or the balance standing at the foot
of the Term loan account on the part of borrower the Mortgagors / Borrower and Co-Borrower
shall make the repayment of all such moneys without claiming any dispute of whatsoever
nature and until the repayment of such moneys the Mortgagors/ Borrower and Co-Borrower
shall not claim to get the said property released and / or shall not claim the right of redemption.

38. The possession of mortgaged property will always remain with the Mortgagor unless &
until the event of default occur until then the possession or assignment will be done in favor of
the Mortgagee.

39. It is also agreed and declared by the Mortgagors that the Mortgagee Bank is fully

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 authorized and empowered to take the possession of the mortgaged properties under the
provisions of The Securitization & Reconstruction of Financial Assets & Enforcement of Security
Interest Act, 2002 in the event of default on the part of Mortgagors & to sell the mortgaged
property in auction or by contract as permitted under the above said Act & Rules there under &
to appropriate the sale proceeds towards the satisfaction of the Mortgage Debt and if any short
fall arises, the Mortgagee Bank is allowed, permitted & authorized to recover the balance from
the other properties of the Mortgagors. In the event of sell by auction or otherwise the Bank
will not be answerable nor responsible for the losses if caused to the Mortgagors.

SCHEDULE
DESCRIPTION OF INDUSTRIAL LAND AND BUILDING REFERRED
HEREINABOVE.

All that piece and parcel of property being commercial premise i.e.

IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective
hands to these presents on The DAY and Year hereinabove written.

In the presence of …

1. Signature
Name: Address:

…MORTGAGOR/BORROWER

2. Signature Name: _
Address:

…MORTGAGOR/CO-BORROWER

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12
13
1.
2.
3. .
4.
5.
6.
7.
8.
……MORTGAGEE BANK