REGISTERED Mortgage Deed

(Without Possession)

REGISTERED Mortgage DEED

THIS ReGISTERED Mortgage DEED of mortgage executed on the___________  day of {{ \Carbon\Carbon::parse($mortgage->created_at)->format('F Y') }}.

BY

@foreach ($mortgageArray['executingPartyDetails'] as $index => $party) @if ($index === 0 || $index === 1)
• {{ isset($party['full_name']) ? $party['full_name'] : 'N/A' }} Aged about: {{ isset($party['age']) ? $party['age'] : 'N/A' }}, Occupation: Business, residing at: {{ isset($party['address']) ? $party['address'] : 'N/A' }} of the First Part.
@endif @endforeach

IN FAVOUR OF

SMFG India Home Finance Company Limited(formerly Fullerton India Home Finance Company Limited), a company registered under the Companies Act, 1956 and having its registered office at 3^rd Floor, Old No. 307, New no. 167, Megh Towers, Poonamallee High Road, Maduravoyal, Chennai, Tamil Nadu- 600095, and one of its Branches at First Floor, Shop No-5, Shree Mangalam Complex, Near Kasak, Bharuch-392002, Gujarat (hereinafter referred to as the “Lender” or “Mortgagee”, as the context may require, which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include its successors and assigns) of the Second Part

The Mortgagor and the Mortgagee shall hereinafter collectively be referred to the “Parties” and individually as the “Party”.WHEREAS:

The Mortgagor(s) herein, is/are the sole and absolute owners of immovable property (ies) more fully described in the schedule hereinafter written (herein after called the “schedule property (ies)”).

The Mortgagee has agreed to grant/has granted credit facilities, aggregating upto Rs. @if ($paymentExists) {{ $payment->amount ?? 'N/A'}} /- ({{ $amountInWords }}) Only @else No payment record found. @endif, to the Mortgagors herein on the condition that the repayment of the dues under the said credit facilities is guaranteed by the Mortgagor(s) and secured by the mortgage of the schedule property(ies) owned by the Mortgagor(s).

The Mortgagor(s), has/have in consideration of the Mortgagee having granted/agreeing to grant credit facilities to the Mortgagor(s), agreed to furnish the required guarantee and security of the schedule property(ies) by way of mortgage in the manner hereinafter appearing.

NOW THIS DEED WITNESSES AS FOLLOWS:-

1. In consideration of the Mortgagee having granted/agreeing to grant credit facilities as aforesaid aggregating up to 29,00,000/- (Rupees Twenty Nine Lacs only),with the facility term of 240 Months as per the terms of the facility agreement(s) entered into between the Mortgagor(s) and the Mortgagee, the Mortgagor(s) hereby transfer(s) to the Mortgagee, all that property(ies) described in the schedule herein together with all land and buildings erected or to be erected by the Mortgagor(s) on the said scheduled property(ies) and all rights, easements and appurtenances thereto, belonging to the Mortgagor(s) to the intent that the same shall remain and be charged by way of mortgage without possession  in the manner following to secure the repayment of the said credit facilities of up to Rs. @if ($paymentExists) {{ $payment->amount ?? 'N/A'}} /- ({{ $amountInWords }}) Only @else No payment record found. @endiftogether with interest at the rate specified in the facility agreements as may be modified from time to time, or any other sum as may become due by the Mortgagor(s) by virtue of these presents, with a condition that on the Mortgagor(s) or his heirs, executors,  administrators, assigns repaying/paying the mortgage debt due to the Mortgagee in accordance with the provisions contained in the facility agreement(s) and thereupon, the Mortgagee with release the schedule property(ies) from the mortgage security and shall if so required by the Mortgagor(s) execute a Deed of Release at the cost of the Mortgagor(s). The Mortgagee represents that the mortgage under the terms of this Deed is being made without providing any possession or any agreement to provide possession to the Mortgagee with respect to the schedule property (ies).
2. It is agreed and declared by the Mortgagor(s) there if there shall be any breach of the covenants on his part/her/their part herein contained, or any breach by the Mortgagor(s), of any conditions under the facility agreements(s), or if the Mortgagor(s) shall become insolvent or if he/she/they die(s) before all dues payable to the Mortgagee under the credit facilities together with interest thereon shall have been fully paid off or if the said advance or any part thereof become payable forthwith under these present and/or the facility agreement(s) or otherwise, then, it shall be lawful for the Mortgagee without intervention of the Court to sell the said Schedule Property(ies) or any part thereof either together or in parcel and either by public auction or by private contract with power to by in or rescind any contract for sale and resell without being responsible for any loss which may be occasioned thereby and to do and execute such acts and assurance for effecting any sale as the Mortgagee shall think fit and to adjust the monies arising from the sale of the Schedule Property(ies) towards all expenses incurred on such sale and then to pay the moneys in or towards the satisfaction of the moneys for the time being owing on the security of these presents and the balance if any to be paid to the Mortgagor(s). The Mortgagor shall be entitled to invoke all its rights under applicable law including that under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The nature of the mortgage wherein no possession is being given to the Mortgagor shall not affect any right of the Mortgagor while enforcing the mortgage over the schedule property(ies) in any manner on happening of any event of default as per the terms of the facility agreement(s) entered into between the Mortgagor(s) and the Mortgagee.
3. The Mortgagor(s) hereby covenant(s) with the Mortgagee as follows:
4. The Mortgagor(s) is/are the absolute owner(s) of the property(ies) described in the schedule below and is/are in actual possession and enjoyment and the said property(ies) is/are free from encumbrances. The Mortgagor(s) has/have also delivered the title deeds of the schedule property (ies) to the Mortgagee.
5. That the Mortgagor(s) undertake(s) to pay the rates, taxes, or assessments existing and enhanced from time to time, is or may be payable in respect of the schedule property(ies), charges and other outgoings to the respective authorities and will deposit the receipts so obtained with the Mortgagee as and when paid. In the event the Mortgagee paying any of the rates or duties, other monies, the Mortgagee shall be entitled to recover the said amounts with interest at the rate mentioned supra and on the first charge of the schedule property (ies).

• That during the subsistence of the mortgage, the Mortgagor(s) shall not alienate or create any encumbrances under the schedule property(ies) or any part thereof so as to prejudice or jeopardise the rights, remedies and interest of the Mortgagee.

1. The Mortgagor(s) undertake(s) that he/she/they shall not destroy or commit damage or any act of waste and thereby diminish the value and utility of the security herein created in favour of the Mortgagee.
2. The Mortgagor(s) agree(s) to insure at his/her/their costs, the buildings standing on the schedule property(ies) with the Mortgagee as the loss payee, against damage by fire, earthquake, or any other calamity, natural or otherwise and keep the insurance in force until all amounts due to the Mortgagee are paid in full. The Mortgagor(s) further covenant(s) that if at any time it fail(s) to pay the premia charges etc., to be incurred for protecting the property(ies) hereby given as security, the Mortgagee is hereby empowered that without any obligation on the part of the Mortgagee to incur such expenses to the debit of the Mortgagor(s)/Mortgagor(s) account and the Mortgagor(s) hereby undertake(s) to pay all such amounts on demand by the Mortgagee.
3. The security afforded by these presents shall remain in full force and effect, until all the sums due to the Mortgagee by the Mortgagor under the terms of this deed, are fully paid and discharged to the satisfaction of the Mortgagee, and only thereafter the Mortgagee shall be bound to re-convey the schedule property(ies) to the Mortgagor(s) at the expense of the Mortgagor(s).

• The Mortgagor(s) accept(s) as final, the outstanding(s) for liabilities of the Mortgagor(s), or as disclosed in the Mortgagee’s books of accounts kept in the ordinary course of business.
• In the event of a default under the aforesaid facility agreements, the Mortgagee may give the schedule property(ies) on lease/license/tenancy or any other occupancy basis to any person or party on such terms and conditions and on such rent/compensation as the Mortgagee may deem fit, to execute necessary agreements, deeds or writings therefore, to receive the rent/compensation from such lessee/licensee/tenant, issue receipts in respect of such payments received and appropriate the same towards the dues outstanding under the credit facilities granted to the Borrower.

1. For the purpose of recovering any sum that may become due to the Mortgagee on the terms of this Deed or under the facility agreements as aforesaid, the Mortgagee may, forthwith enforce against the schedule property(ies), describing the Schedule hereby all or any of the remedies of the holder of the simple mortgage.
2. The Mortgagor(s) further agree(s) that he/she/they shall bear the stamp duty, registration charges and other out of pocket expenses for the execution and registration of this deed and re-conveyance deed and shall at all times indemnify the Mortgagee for any loss or damage that the Mortgagee may suffer for any action or inaction on the part of the Mortgagor.
3. Governing laws and Jurisdiction:

This Agreement shall be governed by the laws of India and in all matters arising out of this Agreement the Borrower(s) hereto submit to the exclusive jurisdiction of the Courts mentioned in the Loan Summary Schedule herein. This shall not however restrict or limit the rights of SMFG India Home Finance Company Limited(formerly Fullerton India Home Finance Company Limited), to take proceedings in any other court or forum or tribunal of competent jurisdiction or proceed against the Borrower(s) and/or the Secured Assets, under law or otherwise.

5. Arbitration:
6. Without prejudice to SMFG India Home Finance Company Limited(formerly Fullerton India Home Finance Company Limited),’s right available to it under the SARFAESI Act, 2002, all disputes, differences and/or claims, arising out of this Agreement, whether during its subsistence or thereafter, shall be settled by arbitration in accordance with the provisions of the Arbitration and Conciliation Act, 1996 or any other statutory modification or re-enactment for the time being in force and the same shall be referred to the sole arbitration of an arbitrator to be nominated/ appointed by SMFG India Home Finance Company Limited(formerly Fullerton India Home Finance Company Limited),. In the event of death, refusal, neglect, inability or incapability of the persons so appointed to act as an arbitrator, SMFG India Home Finance Company Limited(formerly Fullerton India Home Finance Company Limited), may appoint another person to act as an arbitrator. The award including the interim awards of the arbitrator shall be final and binding on all the parties concerned. The arbitrator may lay down from time to time the procedure to be followed by him in conducting arbitration proceedings and shall conduct arbitration proceedings in such manner as he considers appropriate. The arbitration proceedings shall be held at the place mentioned in the Loan Summary Schedule. Subject to the arbitration clause contained herein, the competent courts at the place mentioned in the Loan Summary Schedule shall have exclusive jurisdiction over any matter or legal proceedings arising out of or in relation to this Agreement. This shall not however limit the rights of the Lender to file/take proceedings in any other Court of Law or Tribunal of competent jurisdiction.

SCHEDULE

6. Declaration & Undertaking by Mortgagor:

I/We undertake and confirm that I/We have been provided copies of all loan documents (including the relevant agreements or otherwise) and/or have been made aware of all terms of the loan which is being secured by the Mortgage being created under this Deed and I/We agree to the same

IN WITNESS WHEREOF THE PARTIES HERETO HAVE SET THEIR HANDS ON THE DATE SET OUT IN THE SCHEDULE HEREUNDER WRITTEN, IN THE MANNER HEREINAFTER APPEARING.

Signed and delivered by SMFG India Home Finance Company Limited(formerly Fullerton India Home Finance Company Limited),

“Mortgagees”, through its authorised signatory

In the presence of:-