Mortgage By DEPOSIT OF TITLE DEED

DEPOSIT OF TITLE DEED

This memorandum relating to Deposit of title deeds is executed on ________ day

of          ______________            month           of           _____________            year            by

Sri./Smt.__________________________, S/o./ W/o.____________________________, occupation____________________, and

aged __________ years, residing at_________________________________ herein after called the MORTGAGOR.

In favour of

Sri./Smt.__________________________S/o./W/o.________________________

_, occupation____________________, aged __________ years, residing at_____________________________________________Herein referred to as the MORTGAGEE.

Whereas, the term Mortgagor and Mortgagee, unless repugnant to the context shall mean and include their representatives heirs, successors, executors, administrators, trustees, legal representatives and assigns.

Whereas, the Mortgagor herein, is the sole and absolute owner of immovable property  bearing No.___________ known as _____________________ situated at morefully described in the schedule hereunder written and herein after called the schedule-A property.

Whereas, the Mortgagor is the absolute owner, having acquired the property, by

____________________  and since then Mortgagor has been in possession and

enjoyment of the schedule-A property and paying taxes and levies thereon, as sole and absolute owner thereof.

Whereas the Mortgagee has agreed to advance to the Mortgagor a sum of Rs.___________ (Rupees__________________only). The receipt whereof will be acknowledged by the Mortgagor under vouchers separately passed by him.

NOW IN CONSIDERATION OF SUCH ADVANCE MADE OR TO BE MADE and for securing repayment thereof with interest thereon at ______________

percent per annum from the date of such advance. The said Mortgagor has this______ day and be secured by way of deposit title deeds described in schedule-B referred to the property denoted in schedule-A hereto and it has been

agreed that the security deposit of title deeds be by the way of equitable deposit of title deeds documents pertaining to his title to the scheduled-A property in the place _________ a notified under Section 58(f) of the Transfer of Property Act, 1882 for repayment of the amounts becoming due together with any lawful charges, costs and expenses that may be incurred.

SCHEDULE-A

All the piece and parcel of immovable property  bearing No.____________ Measuring _______________

Bounded by: -

On the East

On the West

On the South

On the North

SCHEDULE-B

List of documents deposited with the Mortgagee;

1 .

2 .

3 .

4 .

5 .

6.   etc.

The Stamp duty is paid as per Article 6 (1) of the Schedule to the Karnataka Stamp Act, 1957.

IN WITNESS WHEREOF the Mortgagor has put his hand the day and year first hereunder written.

WITNESSES:
1.	MORTGAGOR
2.	MORTGAGEE