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    Draft of Simple Mortgage Deed

    Uploaded by

    Daniyal Siraj
    Rohit Khurrana executed a simple mortgage deed on August 13, 2021 granting Sudhir Roy a mortgage on a property in exchange for a loan of Rs. 7 lakhs. The terms of the mortgage require Rohit to repay the principal on demand, pay 12% annual interest, and allow the property to be sold if he fails to repay the loan. During the term of the mortgage, Rohit must maintain the property and pay all taxes to prevent its sale for non-payment.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Draft of Simple Mortgage Deed

    Uploaded by

    Daniyal Siraj
    2K views3 pages
    Rohit Khurrana executed a simple mortgage deed on August 13, 2021 granting Sudhir Roy a mortgage on a property in exchange for a loan of Rs. 7 lakhs. The terms of the mortgage require Rohit to repay the principal on demand, pay 12% annual interest, and allow the property to be sold if he fails to repay the loan. During the term of the mortgage, Rohit must maintain the property and pay all taxes to prevent its sale for non-payment.

    Original Title

    DRAFT OF SIMPLE MORTGAGE DEED

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    Rohit Khurrana executed a simple mortgage deed on August 13, 2021 granting Sudhir Roy a mortgage on a property in exchange for a loan of Rs. 7 lakhs. The terms of the mortgage require Rohit to repay the principal on demand, pay 12% annual interest, and allow the property to be sold if he fails to repay the loan. During the term of the mortgage, Rohit must maintain the property and pay all taxes to prevent its sale for non-payment.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    2K views3 pages

    Draft of Simple Mortgage Deed

    Uploaded by

    Daniyal Siraj
    Rohit Khurrana executed a simple mortgage deed on August 13, 2021 granting Sudhir Roy a mortgage on a property in exchange for a loan of Rs. 7 lakhs. The terms of the mortgage require Rohit to repay the principal on demand, pay 12% annual interest, and allow the property to be sold if he fails to repay the loan. During the term of the mortgage, Rohit must maintain the property and pay all taxes to prevent its sale for non-payment.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    DRAFT OF SIMPLE MORTGAGE DEED

    This Deed of simple mortgage executed on 13 th day of August,


    2021 at 11:00 a.m. by Rohit Khurrana, s/o- Rakesh Khurrana,
    r/o- Ahiron, Jangipur (hereinafter referred as Mortgagor) in
    favour of Sudhir Roy, s/o- Rahul Roy, r/o- Umarpur,
    Murshidabad (hereinafter referred as Mortgagee), the term
    Mortgagor and Mortgagee meaning and including his heirs,
    executors, administrators and legal representatives and assigns
    witnesseth as follows:

    1. Whereas the mortgagor is the absolute owner of the


    property fully described in the schedule hereto.

    2. Whereas the mortgagor is in urgent need of funds in order


    to admit her daughter at a Private Medical College, whereas
    the mortgagor approached the mortgagee for a loan of Rs. 7
    lakhs, whereas the mortgagee has consented for the same.

    3. Now this deed of first simple mortgage witnesseth that in


    consideration of the premises and in further consideration
    of the sum of Rs. 7 lakhs paid by the mortgagee to the
    mortgagor, the receipt of which sum in manner aforesaid
    the mortgagor do hereby acknowledge, the mortgagor do
    hereby transfer, convey and assign unto the mortgagee as
    and by way of first simple mortgage, all property described
    in the schedule hereto subject to the following terms and
    conditions:

    4. To repay the Principal sum on demand.

    5. In the meanwhile, to pay interest @12% per annum.

    6. In the event of death of the mortgagor failing to pay the


    principal sum and interest or amount due under the
    mortgage on demand, the mortgagee shall have right of sue
    for recovery of the said amount and if needed to have the
    property sold in the said proceeding for the due realisation
    of mortgage dues.

    7. During the subsistence of the mortgage, the mortgagor shall


    pay all public dues and taxes accruing due in respect of the
    mortgage property and shall not allow the same to be
    proceeded against for recovery such dues and taxes. If the
    mortgagee has to spend money to save the property from
    being sold for the recovery of said dues, such money shall
    be deemed and treated as Principal amount, and recovered
    as such.

    8. During the subsistence of the mortgage, the mortgagor shall


    keep the property mortgaged in good condition and shall
    not commit any act which is destructive or injurious thereto
    as to cause the security to become insufficient.
    The mortgagor doth assure the mortgagee that save the
    mortgage in favour of Mortgagee to secure a sum of Rs. 7 lakhs
    under deed of first simple mortgage, Dated 13/08/2021 and there
    are now no other encumbrances subsisting on the mortgage
    property.
    The mortgagor doth also assure the mortgagee that he shall
    continue to pay the interest due on the first mortgage without
    any default and shall not render any act, deed or anything
    whereby the mortgage property will become insufficient security

    WITNESSES

    1. Mr. Shivin Narang, s/o – Ravindra Narang, age – 34 years, r/o


    – Jangipur

    2. Mr. Rohan Raaj, s/o – Prakash Raaj, age – 38 years, r/o –


    Jangipur

    Mortgagor
    Mortgage

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