Modt.docx

MEMORANDUM OF DEPOSIT OF TITLE DEEDS On the __________day of ________________ Shri _____________________________________ In the capacity of Director / Partner / Attorney / Authorized Signatory (as the case may be) of 1. 2. 3. 4. 5. (hereinafter Mortgagor/s Nos. _____to _____are collectively referred to as “Mortgagor/s”, Which expression shall include their respective heirs, executors, administrators, successors, surviving partners and permitted assigns as the case may be) Attended the office of the LIC Housing Finance Ltd. A company established under the Companies Act, 1956 at Area Office LIC Housing Finance Ltd. Isanpur, Ahmedabad (‘Company’) on the 19TH of JUNE 1989 and saw Mr. _______________________________________________________ and M/s LIC Housing Finance Ltd. Isanpur, Ahmedabad of the company with an intention to create equitable mortgage over the Properties more particularly described in “Schedule” hereunder written inter alia to secure the repayment to the Company the Loan Granted or to be granted by the Company to Mr. ______________________________________________________________ (hereinafter referred to as “Borrower) Which expression shall unless repugnant to the context or meaning there of be deemed to mean and include, his/her/their respective executors. Administrators, legal heirs and permitted assigns wherever the context or meaning shall so require or permit).

________________________________ Signature of the Borrower/s

1. Mr _____________________________________________________stated that the Company has granted / agreed to grant /lend certain credit Loan to the extent of Rs. _________________ (Rupees ______________________________________________________ ) In aggregate(“Loan”) at the request of the Borrower and the Mortgagor/s on the condition that the Mortgagor/s create mortgage over the properties mentioned in Schedule. Shri ______________________________________________________________ accordingly has deposited the documents of title, evidences, deeds and writings more particularly described in the Schedule hereunder written (hereinafter called the “Title Deeds”) with an intention to create mortgage by way of deposit of title deeds in favour of the company to secure the Loan. 2. Mr. _________________________________________________________while depositing the Title Deeds accorded and gave oral consent on behalf of the Mortgagor/s to Mr. ____________________________________ and Mr. _____________________________ LIC Housing Finance Ltd. Of Company to hold and retain the Title Deeds as and by way of equitable mortgage by deposit of title deeds on the Mortgagor/s Immovable Properties more particularly described in the Schedule hereunder written, together with all buildings and structures thereon and all plant and machinery attached to the earth or permanently fastened to anything attached to the earth, both present and future, (hereinafter the properties described in Schedule are referred to as “the Immovable Properties”) for the due repayment, discharge and redemption b the Borrower to the Company for the Loan in aggregate and / or as sanctioned by the Company to the Borrower together with all interest liquidated damages, costs charges, expenses, guarantee commission and other monies, payable under its facility agreement/letter of sanction/memorandum of the items and conditions. 3. Shri. _____________________________________________________________ also stated that the he was authorised to give oral consent pursuant to the POA /Board Resolution /Authority Letter and the Mortgagor/s have furnished the certified true copy of the said Board Resolution /POA/Authority Letter to Shri ___________________________________________________ & Shri_________________________ of the Company with intent to create security on the immovable Properties as aforesaid and to secure the Loan granted /to be granted by the Company and further stated that the Resolution /POA/Authority Letter is in full force and effect valid and binding on the respective Mortgagor/s. 4. Whilst giving such oral consent, Shri_______________________________________________ on behalf of the Mortgagor/s stated that the he has deposited the Title Deeds in his capacity as Director / Attorney/ Authorised Signatory of each of the Mortgagor/s for the above Loan with intent to create the security on the immovable Properties as aforesaid to secure the Loan.

5. Shri _______________________________________________________ has further stated that aforesaid oral consent was given with the intent to create fresh mortgage over the properties mentioned in Schedule in favour of the Company to secure the liability that may arise at the foot of the Loan granted / to be granted to the Borrower together with interest, costs, charges and expenses and all the monies that may becomes payable by the Borrower Shri______________________________________________________ has further stated that as long as any amount is outstanding under the Loan, the Mortgagor/s shall not create any further charge on the immovable Properties and that the immovable properties shall be a continuing security whether the balance of the Loan at any point of time is extinguished or becomes nil. 6. Shri _________________________________________________________ confirmed that the immovable properties are free from any prior charge, encumbrances, lis pendens and/or other mortgage except the mortgage created in favour of the Company for the financial assistance granted / to be granted by the Company and has assured, declared and confirmed that no mortgage, charge, or lien or other encumbrances whatsoever is or will be created in respected of the immovable properties without prior written approval of the Company.

7. Shri _________________________________________________________ further declared that the Mortgagor/s are not aware of any act deed matter or circumstance which prevents the Mortgagor/s from charging or creating mortgage or extension thereof over the immovable properties in favour of the Company. 8. Shri __________________________________________________________ further declared that the respective Mortgagor/s have been paying all rents, royalties including provident fund, gratuity fund, employees provident fund dues, income tax, sales tax, Corporation taxes and other taxes and revenues payable to the respective Government and Authorities or to any Local Authority and at present there are no arrears, taxes, rents, royalties, revenues and there are no attachments, warrants, written notices that have been served on any of the Mortgagor/s in respect of such tax, that will have a bearing on the attachments and/or sales or mortgage of the immovable Properties.

THE SCHEDULE REFERRED TO HEREIN ABOVE PART – 1 (LIST OF THE DOCUMENTS OF TITLE) 1) ORIGINAL SALE DEED NO. _________________ 2) ORIGINAL R.R. NO. ________________________

DATED : ___________________ DATED: ___________________

PART – II (Description of the immovable properties) ADDRESS :____________________________________________________________________ ______________________________________________________________________________ MOJE-_________________________ Survey No/ Block no: _________________________

EAST: __________________________

T.P No. __________

WEST: __________________________

F.P. No: _________

NORTH: _________________________

Plot Area: ___________ Sq. Yard _________Sq. Mtr.

SOUTH: _________________________

Construction Area : ____________ Sq. Yard ___________ Sq. Mtr. Flat no./ Tenement no./ Row house no.: _______________________________________________ Building / Society Name:___________________________________________________________ Undivided Land: ______________Sq. Yard ___________ Sq. Mtr.

WITNESS :

Borrower(s)/ Mortgagor(s) :

1. ______________________________

1. _______________________________________

Name : ___________________________

Name : __________________________________

2. ______________________________

2. _______________________________________

Name : ___________________________

Name : __________________________________