DEED OF MORTGAGE

This deed of Mortgage / Equitable made on this ……… day of

……………. (Month), 201……. (Year)
BETWEEN

Sri/Smt./
Kum……………………………………………………………………………………., Sex.
……………………… aged about…..………years, Son/Daughter/Wife of …..
………………………….., Caste- ………………., Profession ……………………………..,
permanent resident of …………………., P.O. ………………..... P.S.
………………………….., District …………………… State ……………………………….
Pin Code ………………. At present residing at …………………., P.O.
………………..... P.S. ………………………….., District …………………… State
………………………………., Pin Code ……………….
[If Minor,]
represented by Father/Mother/ Other (specify Relation) Guardian
Sri/Smt./Kum …………………………………………………., aged about ………..
years, Son/Daughter/Wife of …..………………………….., Caste-
……………………. , Profession …………………………….., permanent resident
of …………………., P.O. ………………..... P.S. ………………………….., District
……………………, State………….. Pin Code ……………….

[If represented by Attorney Holder by virtue of Power of Attorney]

represented by his Power of Attorney Holder vide G.P.A. Document No.
……………………….……/ dated …………………………), registered in the Office of
the Sub-Registrar,………………………..…..,District-…………………….
…..,State……………….. Sri/Smt./Kum ………………………………… aged about
……….. years, Son/Daughter/Wife of …..………………………………………..
…..,Caste- ………………., Profession …………………………….., permanent
resident of ……………………..……., P.O……………..………....,P.S.
……………………...,District……………………,State…….………., Pin Code
………………. at present residing at …………………., P.O. ………………..... P.S.
………………………….., District …………………… State ……………………………….,
Pin Code ……………….

(hereinafter referred to as the ‘Mortgagor’ which expression shall unless

repugnant to the context or meaning thereof, be deemed to mean and
include their legal heirs, executors and administrators) of the one part;
 AND

Sri/Smt./Kum …………………………………………., Sex. ……………… aged

about ……….. years, Son/Daughter/Wife of …..………………………….., Caste-
………………., Profession …………………………….., permanent resident of
…………………., P.O. ………………..... P.S. ………………………….., District
…………………… State ………………………………. Pin Code ………………. At
present residing at …………………., P.O. ………………..... P.S.
………………………….., District ……………………
State ………………………………., Pin Code ……………….

OR
………………………………… [Housing Finance Company (HFC)], a company
within the meaning of the Companies Act, 1956 (1 of 1956) and having its
registered office at …………………………………………….. (Full Address)
represented by its Directors 1. Sri ……………….... (Name & Address) & 2. Sri
………………….. (Name & Address) or through its authorized signatory by
virtue of Power of Attorney Document No. …………………, dated
…………………….. registered in the Office of the Sub-Registrar,
………………………………………….. Sri …………………………………………………

OR

(in case of a Bank) [ Name of the Bank ] a banking company within the
meaning of the Banking Regulation Act, 1949 and having its registered /head
office at [ FULL ADDRESS OF THE BANK HEAD OFFICE ] and a branch
office at …………………………, represented through its Branch manager Sri
……………………………………………………………………………

(hereinafter referred to as the ‘Mortgagee’ which expression shall, unless

repugnant to the context or meaning thereof, be deemed to include its
successors in interest and assigns) of the other part;

WHEREAS the mortgagor is absolutely seized and possessed of or

otherwise well and sufficiently entitled to the house/ OR (lands) more
particularly & more fully described & detailed under the Schedule of Property
hereunder written;
 AND WHEREAS the mortgagor has requested the mortgagee to lend
him a sum of Rs. ……………………… (in figures and words) which the
mortgagee has agreed with the mortgagor for mortgaging his property.

NOW THIS DEED WITNESSETH THAT in pursuance to the said agreement

and in consideration of the sum of Rs. ……………… (in figures and words) at or
before the execution of these presents paid by the mortgagee to the
mortgagor (the receipt whereof, the mortgagor doth hereby admit and
acknowledge and of and from the same hereby release and discharge the
mortgagee), the mortgagor hereby covenants with the mortgagee that he
will pay on the ………………… day of …………….. (hereinafter called “the said
date”),the said sum of Rs. …………….. with interest @ …….. % per annum
from the date of these presents till the repayment of the said sum in full,
every quarter the first installment of interest to be paid on the ……………….
day of ………. 20…… and each subsequent installment on the ……………. day
of July, October, January and April of each succeeding year until the said sum
is repaid in full.

Whereas, the Mortgagor being the absolute owner, having acquired

the property, by (details of succession or acquisition by way of Sale/
Gift/ Partition/ Settlement/ Exchange/ Court Decree/ Auction Sale
etc…)

and since then Mortgagor has been in possession and enjoyment of the
schedule property and paying taxes and levies thereon, as sole and absolute
owner thereof.

Whereas Mortgagor being in need of money for the purpose

…………………………………….. and the . Mortgagor requested the Mortgagee to
lend him a sum of Rs. (Rupees. only) which the Mortgagee has agreed to
lend to the Mortgagor executing these presents with a view to secure the
repayment thereof with interest as herein after provided.

Whereas the Mortgagor hereby covenants with the Mortgagee that he

the Mortgagor will pay to the Mortgagee the sum of Rs. (Rupees. only)
on the day of (herein after referred to as the 'due date') with
interest thereon in the meanwhile and until repayment of the said sum in full,
at the rate of …………….. per annum on theday of ………………………..
and ………………………. each subsequent installment on the day of each
succeeding month until the said principle sum of Rs.
……………………………………….. (Rupees only) repaid in full, and
 Whereas Mortgagor further covenants with the Mortgagee that in the
event of the Mortgagor failing to pay any installment of interest, he will be
liable to interest on the said installment in default at the same rate as
aforesaid from the date of default until payment such installment as and by
way of compound interest. Without prejudice to the right of the Mortgagee to
take any action on default as herein under provided, and it is agreed and
declared that in the event of Mortgagor committing default in payment of any
installment of interest or committing breach of any other term of this deed,
the whole amount of principal then due with interest thereon will at the option
of the Mortgagee become payable forthwith as if the said date had expired.

And this deed further witnesseth that in consideration aforesaid,

the Mortgagor hereby mortgage his said scheduled property hereunder
written as a security for repayment of the said sum with interest and all other
moneys due and payable hereunder with a condition that on the Mortgagor
repaying the said principal sum of Rs. …………………………………..
with all interest and other amount due to the Mortgagee (hereinafter referred
to as the Mortgage amount) the Mortgagor will redeem the said scheduled
property from the mortgage security and shall if so required by the Mortgagor
execute a deed of re-conveyance but at the costs of the Mortgagor.

And it is further agreed and declared by the Mortgagor that in the

event of the Mortgagor failing to pay the said principal sum with all interest
and other moneys when the same shall become due and payable under these
presents, the Mortgagee will become entitled to have the said scheduled
property sold through any competent court and to realize and receive the said
mortgage amount out of the net sale proceeds of the said scheduled
property.

And it is further agreed and declared by the Mortgagor that he

shall also be liable to pay and shall pay all the costs, charges and expenses
that the Mortgagee will incur for the protection of the mortgage security and
or for the realisation of the mortgage amount and the same shall be deemed
to form part of the mortgage amount and the security there for as aforesaid.

And it is further agreed that during the pendency of the security

hereby created and until repayment of the mortgage amount, the Mortgagor
will get insured and keep insured the buildings and structures standing on the
said land against loss and damages due to fire or any other accident in the
sum of at least Rs. …………………………………………..with some Insurance
Company of repute and pay all premium in the insurance policy as and when
it becomes due and payable in respect thereof to such company and shall
hand over the policy to the Mortgagee duly endorsed in his name as assignee
and in the event of the Mortgagor failing to do so or to pay the premium, the
Mortgagee will be entitled to insure the said buildings and structures and/or
to pay the premium thereon and the amount paid by the Mortgagee in
respect thereof will be deemed to form part of the mortgage amount.

And it is further agreed that in the event of the said scheduled

property being destroyed or damaged by fire or any accident as aforesaid.
The Mortgagee will be entitled to receive the insurance claim under such
policy to the exclusion of the Mortgagor and to appropriate the same first
towards all arrears of interest and then the principal amount or as any part
thereof as may be sufficient to pay the mortgage amount due and if any
surplus remains the same only will become payable to Mortgagor.

And it is further agreed that in the event that the Borrower transfers
ownership (either legal or equitable) or any security interest in the mortgaged
property, whether voluntarily or involuntarily, the Lender may at its option
declare the entire debt due and payable.

And it is further agreed that this Mortgage is upon the statutory

condition and the other conditions set forth herein, for breach of which
Mortgagor shall have the statutory power of sale to the extent existing
under the existing law of the State.

SCHEDULE OF THE PROPERTY

(Mortgaged under this deed)

DISTRICT :
TAHASIL :
P. S. :
MOUZA :

(Under the Jurisdiction of Office of the Sub-Registrar, ……………………………)

KHATA NO: Sabik - …………………………………………… (in words)

Hal - ………………………………………….. (in words)

PLOT NO.s: ……………………… (in words) PART/FULL, Kissam-

………………………

Area: Ac. ………………., (in words) out of Total area of Ac. ……………….. (in
words)) Dec. from the ……………. (specify the direction)Side.

Bounded by :
North – ………………………………….. South -
……………………………..
 West–…………………………………… East -
………………………………...

Linear Measurements (admeasured by)

From East to West in the North Side - ……………. Links/Feet/Metre
South Side - ……………. Links/Feet/Metre
From North to South in the East Side - ……………. Links/Feet/Metre
West Side - ……………. Links/Feet/Metre

Total ………….. Khata, ……………Plots of Total Transacted Area of Ac

……………….. (in words) of Value – Rs……………………… (in words).
RENT RESERVED for Ac. …………………….dec: Rs…………………, (in
words)

All the plots are vacant land. No Building or structure of any kind exists
over these plots. The declaration in Form – A is annexed herewith.
Approximate value/ Market Value of the Property (Optional to mention)

DECLARATIONS:

The Mortgagor, to the best of his knowledge and belief declares that-
1. This property transferred in this deed is not a lease hold property and
doesn’t come under the purview of Section 6-A of the O.L.R. Act,
2. That the Mortgagor belongs/doesn’t belong to Scheduled Caste.
3. The property mortgaged in this deed does not belong to or given in or
endowed for the purpose of any public religious institutions.
4. The property mortgaged in this deed does not belong to, or given in, or
endowed to any public deity.
5. This mortgaged property does not belong to Odisha Bhoodan Yagna
Samiti/ or to the Central/State Government or to any Urban Local Body
of the State.
6. That the said mortgage of land is not prohibited/ restricted by any
Act/law of the State or Central Government.

In witness whereof We, the Mortgagor and Mortgagee have hereunto set
our respective hands and signatures to this Mortgage ON THE DAY, DATE,
 MONTH AND YEAR FIRST ABOVE WRITTEN in the presence of the following
witnesses.

SIGNATURE OF MORTGAGOR SIGNATURE OF THE MORTGAGEE

WE stand witness to the voluntary execution of this deed by the

Mortgagor and Mortgagee by subscribing our signatures on the date
mentioned there under.

1. SIGNATURE :

NAME :

ADDRESS :

2. SIGNATURE :

NAME :

ADDRESS :

THIS DOCUMENT IS PREPARED BY

(Signature with Date/ Name & Address)