FACILITY AGREEMENT

THIS AGREEMENT IS MADE at the place and date as specified in the Schedule between
Shri. /Smt. ________________ , son/daughter/wife of Shri. ________________ , aged
__ years, residing at _________ (“Borrower(s)” which expression shall, unless it be
repugnant to the context and meaning thereof, be deemed to mean and include its successors and
permitted assigns).

And

AXIS Bank Ltd., a company, incorporated under the Companies Act, 1956 and a Banking Company
within the meaning of the Banking Regulation Act, 1949 and having its Registered Office at ‘Trishul’,
3rd Floor, Opposite Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad 380 006, Gujarat
and one of the branch offices at the place as specified in the Schedule (“Bank” which expression shall,
unless it be repugnant to the context and meaning thereof, be deemed to mean and include its
successors and assigns).

WHEREAS the Borrower(s) has requested the Bank and the Bank has agreed to provide a Facility upto
the eligible limit(s) under its Reverse Mortgage Scheme as specified in the Schedule attached more
particularly described hereunder and in terms of the sanction letter, more particularly described in the
Schedule with full authority to the Bank from time to time to renew or reduce or enhance the limit or
altogether withdraw the Facility on the terms and conditions appearing herein (hereinafter collectively
and individually referred to as the "Facility").

IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS

1. DEFINITIONS AND INTERPRETATION

1.1 In this Agreement, the following meanings are applicable:

“Agreement” means this Facility Agreement for grant of the Facility read in conjunction with the
sanction letter more particularly detailed in the Schedule.

“Apartment” means a separate and self-contained set of premises used for residence.

“Facility” means the financial assistance with the limit(s) more particularly described in the Schedule
granted by the Bank in terms of this Agreement and shall include all the dues payable by the
Borrower(s) to the Bank under this Agreement.

“Interest Rate” means the rate at which the Bank shall compute and apply interest on the Facility,
as stated in the Schedule or as may be amended from time to time by the Bank.

“Penal Interest” means the rate at which the Bank shall compute and apply interest on all amounts
not paid when due for payment (or reimbursement) by the Borrower(s) to the Bank, as stated in the
Schedule or as may be amended from time to time by the Bank.
“Event(s) of Default” means any of the events or circumstances specified in Clause 10A of this
Agreement.

“Parties” means the Bank and the Borrower(s) referred to collectively.

1.2 In this Agreement unless the context otherwise requires:

(a) Singular shall include plural and the masculine gender shall include the feminine and
neutral gender.

(b) The expressions “Borrower(s)” and the “Bank”, unless repugnant to the context, shall
include their respective legal heirs, representatives, successors, executors,
administrators and assigns.

(c) All or any other conditions as specified in the sanction letter shall form an integral part
of this Agreement and the sanction letter shall always be read in conjunction with this Agreement at
all times.

“Permanent Primary Residence” means the dwelling where Borrower usually lives, typically a
house or an apartment. Which is only one primary residence at any given time, though Borrower may
share the residence with other people.

“Residential Property” means Permanent Primary Residence owned by the Borrower and offered
as security for the Facility and more particularly described in the schedule.

2. Eligibility of the Borrower (s)

It is hereby agreed and declared by the Borrower(s) that:

a) He/she is a citizen of India and is equal to or more than 60 years of age.

b) He/she is the absolute owner with a clear title of the Residential Property being mortgaged.
c) He/she uses the Residential Property as his/her ‘Permanent Primary Residence’.

3. BANK’S AGREEMENT TO LEND AND BORROWER (S)’S AGREEMENT TO BORROW

3.1 The Bank agrees, based on the Borrower(s)’s Request, Representations, Warranties, Covenants
and Undertakings as contained herein and in the application for Facility and other documents
executed or tendered by the Borrower(s) in relation to the Facility, to lend to the Borrower(s)
and the Borrower(s) agrees to borrow from the Bank, the Facility on the terms and conditions
as fully contained in this Agreement.

4. FEES, CHARGES, COSTS AND CLAIMS

4.1 The Borrower(s) shall bear all Charges/fees, including Service Tax, if any, as mentioned in the
Schedule both present and future.

4.2 The Bank shall be entitled to debit all other amounts due and payable by the Borrower(s) under
this Agreement (including but not limited to interest tax, fees, stamp duty, processing fee, login
fees, costs, service/prepayment and other charges, including on account of execution and
stamping of this Agreement and any other documentation or security creation pursuant to this
Agreement, claims and expenses including expenses which may be incurred by the Borrower(s)
 in the enforcement or attempted enforcement of security created in favour of the Bank) to the
Borrower(s)'s Facility account, unless separately reimbursed to the Bank by the Borrower(s).

5. DISBURSEMENT

5.1 The periodicity of the disbursements of the Facility shall be extended at the option of the
Borrower which option shall be indicated on/or before first withdrawal as regular monthly,
quarterly, half-yearly or annual periodic or as a line of credit to be drawn down in time of need,
depending on the needs of the Borrower(s) and at the sole discretion of the Bank.

5.2 If payments are made monthly, maximum monthly payments to be capped at Rs. 50000/-

5.3 The Bank inspite of having disbursed any amount or installments has the sole discretion of
withholding any further amount of disbursement under the Facility unless the following
conditions are complied:

i. No event of default shall have occurred;

ii. The Borrower(s) shall have produced all or any other documents or writings as
required by the Bank in its sole discretion, which shall be binding on the Borrower(s).

5.4 It is hereby agreed by the Borrower(s) that lump sum withdrawal of the Facility can only be
permitted for medical reasons i.e. medical treatment for self, spouse and dependent. Also,
maximum lump-sum payment should be restricted to 50% of the total eligible amount of loan
subject to a cap of Rs. 15 Lacs. The disbursement of the amount is at the complete discretion
of the Bank.

6. INTEREST & FACILITY ACCOUNT

6.1 The Borrower(s) agrees to pay interest on the Facility at the rate mentioned in the Schedule or at
the rate as may be revised and/or refixed by the Bank from time to time during the subsistence
of this Agreement and the Interest rates both present and is refixed or revised shall be calculated
accordingly.

6.2 The Borrower(s) is aware and confirms that the Bank shall at any time and from time to time be
entitled to review the rate of interest, and such revised rate of interest shall always be construed
as agreed to be paid by the Borrower(s) and hereby secured. Borrower(s)s shall be deemed to have
notice of change in the rate of interest whenever the change in the Interest Rate are
displayed/notified at/by the Branch as per the Reverse Mortgage Scheme of the Bank.

6.3 Interest on the Facility shall be computed and debited to the Facility Account -
i. At the intervals as stated in the Schedule
ii. Taking the basis of 365 days a year
iii. At interest rate more particularly described in the Schedule herein or as may be
prescribed by the Bank from time to time and

iv. Interest on the amount of the Loan will be applied at a markup above MCLR, rising
and falling therewith on MCLR reset date. Interest would be calculated at monthly
rest and calculated on the daily balance of the loan amount. Bank shall be entitled
to change the rate of interest on predefined reset dates to the prevailing MCLR on
that day and such revised rate of interest shall always be construed as agreed to be
 paid by the borrower(s) and hereby secured. Further the interest payable by the
borrower shall be subject to the changes in interest rates made by Reserve Bank
from time to time. Borrower is deemed to have noticed the changes in the rate of
interest whenever the changes in MCLR are displayed/ notified at/by the branch or
website/published in newspaper/made through entry of interest charged in
passbook/statement of accounts sent to the borrower

v. The MCLR prevailing on the day the loan disbursed will be applicable till the next
reset date, irrespective of the changes in the MCLR during interim period

vi. Axis Bank can change the reset frequency for the mortgage loans on a later date at
its sole discretion

6.4 Interest Tax and other taxes/levies as may be applicable from time to time on the Facility shall
be borne solely by the Borrower(s).
6.5 The Borrower(s) agrees to pay the 1% of the amount sanctioned by the Bank at the time of
application by the Borrower(s).

7. TENURE OF THE FACILITY

7.1 The period of the Facility shall be 15 years from the date of the first drawal and the Facility
period can be further extended by another five years depending upon the market value of the
Residential Property and any such extension shall be at the complete discretion of the Bank. The tenure
of Facility together with any such extension shall not exceed 20 years in aggregate. However, monthly
annuity will stop during extension period and interest will get accumulated on the outstanding
amount.

8. SECURITY

8.1 The repayment of the Facility to the Bank shall be secured in such manner as specified in the
Schedule and in Clause 10.1 hereinafter.
8.2 The Bank shall be entitled to call upon the Borrower(s) and the Borrower(s) shall be liable to
furnish to the Bank additional and/or alternate security as decided by the Bank in the event
of any substantial deterioration in the value of the security.
8.3 The Borrower(s) shall execute any bonds, documents for the Facility and all such documents,
power of attorney(s)/undertakings and Agreements as may be required by the Bank at any
time during the pendency of this Facility.
8.4 The repayment of the Facility, interest, fees, costs, charges and expenses and all other amounts
payable under this agreement to the Bank shall be secured by:

a) First charge by way of mortgage in favour of the Bank over the Residential Property (as
defined hereinabove and specified in the Schedule hereto);
b) Guarantee from the Guarantor as specified in the Schedule hereto;
c) Any other as specified in the Schedule hereto.

8.5 The Bank shall have the right to decide, in its sole discretion, the mode of mortgage or
creation of any other security/additional security to be created by the Borrower(s) for
securing the Facility and all other amounts as aforesaid and the Borrower(s) shall be
bound to create such security evidencing the same as may be required by the Bank.
8.6 Notwithstanding the aforesaid securities the Bank shall have the right to secure and or
 demand further security of any nature, which if demanded shall be made available by the
Borrower.

9. BANK'S RIGHTS

The Bank shall, in relation to the Facility:

a. have the sole right at any time during the tenure of this Agreement to revise/reschedule the
repayment terms/amount or of any other amounts outstanding there under and the
Borrower(s) shall make all future repayments to the Bank according to such revised Schedule
on being notified by the Bank of such revision or re schedulement;
b. have the sole right to amend any of the terms and conditions of this Agreement including but
not limited to revision of Interest Rate (including the Penal Interest), periodicity of
compounding interest and the Borrower(s) agrees that such revision shall become applicable
from date of such revision in the records of the Bank;
c. have the right to receive and adjust any payment/s that it may receive as an assignee of the
insurance in relation to the Residential Property and on the life of the Borrower(s) towards
amounts due and/or payable by the Borrower(s) under this Agreement;
d. have the right to enter the Property, and inspect the assets and records maintained by the
Borrower(s), the cost of which shall be borne by the Borrower(s);
e. have the right to obtain refinance against the Facility as it may consider appropriate;
f. The Bank shall have the right to determine the value of the Residential Property through the
approved valuers of the Bank, who shall arrive at the fair market value of the property based
on physical inspection of the property and market enquires . The approved valuers of the Bank
shall continuing to do valuation of the Residential Property on an annual basis* or at such
other intervals as the of Bank may think fit. The decision the Bank/valuers shall be final and
binding on the Borrower in this regard.
g. The Bank shall have the option to review the terms and conditions of the Facility pertaining to
the sanctioned amount of Facility and Facility tenure at such frequency or intervals as per
their discretion which in any case shall be at least once in every two years.
h. The applicable Facility to Value Ratio would depend upon the age of the Borrower(s) at the
time of such re-valuation and revision of Facility eligibility.
i. Borrower(s) shall have the option to accept such revised terms and conditions for furtherance
of the Facility.
j. If the Borrower(s) does not accept the revised terms, no further payments shall be made by
Bank to Borrower(s). The interest (as per the rate that was pre-decided before review) will
continue to accrue on the outstanding balance of Facility. The accumulated principal and
interest shall become due and payable as per the terms and conditions laid down in this
agreement.
k. have a right, at Borrower(s)'s cost, to insure the Residential Property or take any measure for
the upkeepment and preservation of the Property;
l. have the right to create a charge or mortgage over the Residential Property as security in its
own favour or in favour of any third party;
m. at the Bank’s discretion to pay such taxes, charges and other fees relating to the Residential
Property to ensure that the property is not free from any other charges, except the Bank’s
charges. Any such payment shall be recovered from the Borrower(s).
n. If Borrower/s fulfills all the applicable terms and conditions of the Facility sanctioned to it by
the Bank, in that case the liability of the Borrower/s will not exceed beyond the net realizable
value of the Residential Property at any time.
10. BORROWER (S)'S REPRESENTATIONS, WARRANTIES, COVENANTS AND UNDERTAKINGS.

10.1 With a view to induce the Bank to grant the Facility to him/her, the Borrower(s), hereby
represents/warrants/covenants/undertakes with the Bank that it-

(a) that he/her is the absolute owner of the Residential Property and assets and duly
empowered to borrow the Facility and to execute the Facility documentation and
mortgage the property.
(b) shall not to permit any change in the ownership or control of the Borrower(s) whereby
the effective beneficial ownership or control of the Borrower(s) shall change, without
the prior written consent of the Bank;
(c) Borrower(s) shall make available to the Bank such security in such form and substance
as may be required by the Bank;
(d) shall always have until all his dues hereunder are not repaid to the Bank, a clear and
marketable title to the Property, free from all encumbrances whatsoever and shall not
during the tenure of the Facility either part with possession of or create third party
rights in the Residential Property constituting the Bank's security or any part of it
(whether by way of sale, exchange, lease, mortgage, agreement or option or
otherwise);
(e) has no major pending claims, demands, litigation or proceedings against him before
any court or authority (public or private);
(f) shall not, during the tenure of this Agreement, avail of or obtain any further Facility
or Facility on the Residential Property constituting the Bank's security without the
prior written consent of the Bank.
(g) shall promptly inform the Bank of any loss or damage to the Residential Property
constituting the Bank's security due to any force majeure or Act of God;
(h) shall (in case of more than one Borrower(s)) be jointly and severally liable to repay
the Facility, interest and all other sums due and payable under this Agreement and to
observe its terms and conditions;
(i) shall maintain the Residential Property constituting the Bank's security in good order
and habitable condition and not allow it to deteriorate or commit any act which is
destructive or permanently injurious to the Residential Property or do anything which
will render the security in favour of the Bank, insufficient;
(j) shall not stand surety or guarantor for any third party liability or obligation;
(k) shall comply with all the terms of the Sanction letter and keep himself/herself aware
of the rules of the Bank, as pertaining to this Facility, and in force from time to time.
(l) The Borrower(s) shall insure keep insured the Residential Property against fire,
earthquake, and other calamities.
(m) The Borrower(s) shall ensure to pay all taxes, electricity charges, water charges and
statutory payments.
(n) The Bank shall have the option to pay for insurance premium, taxes or repairs by
reducing the Residential Property owner Facility advances and using the difference to
meet the obligations/expenditures.
(o) Shall not use the Facility for any speculative, trading and business purpose.
 (p) The Borrower agrees and undertakes not to use the Loan for 1) purchase of gold in
any form, including primary gold bullion, gold jewellery,gold coins,units of gold
Exchange Traded Funds (ETF) and units of gold Mutual Funds 2) accquisition of
small savings instruments (including KVP & NSC)
(q) The Bank shall have the right to inspect the residential property/premises or
arrange to have the residential property/premises inspected by its representatives
any time before the Facility is repaid and Borrower(s) shall render his/her/their
cooperation in respect of such inspections.
(r) The Borrower(s) shall not at any time during the currency of the Facility shift
his/their Permanent Primary Residence from the Residential Property mortgaged
to the Bank.
(s) The Tax liability of the borrower shall depend on the relevant notifications issued by
the tax authorities from time to time. Further to their notification, if any tax liability
arises on the borrower, the same shall be deducted at source by the Bank.
(t) Borrower/s must utilise borrowed funds solely for the purpose for which the loan is
granted and that it cannot make any material transfers to its group entities, from
such funds, without the consent of the Bank.

10.2) The Borrower declares, assures and states that, except as mentioned hereunder, the Borrower
is not a director nor relative* of any director or none of its directors/partners /members (if the
Borrower is a company/partnership firm) is a director; of the Bank or any other Banks
including Scheduled Co-operative Banks, subsidiaries/trustees of mutual funds/ venture
capital funds; and the Borrower is not a relative* or none of its directors/ partners/ members
(if the Borrower is a company/partnership firm) of any Senior Officer* of the Bank;
*The term ‘Senior Officer’ means an officer of the Bank, who is in equivalent scale as an officer
in senior management level in Grade IV any officer and above in a nationalised bank or any
officer in equivalent scale in the State Bank of India and associate banks and in any banking
company incorporated in India.
*The term “relative” shall mean and include any or all of the following persons: (a) Spouse
(b)Father (c) Mother (including step-mother) (d) Son (including step-son) (e) Son's Wife (f)
Daughter (including step-daughter) (g) Daughter's Husband (h) Brother (including step-
brother) (i) Brother’s wife (j) Sister (including step-sister) (k) Sister’s husband (l)Brother
(including step-brother) of the spouse (m) Sister (including stepsister) of the spouse.
The Borrower makes the above declaration solemnly and sincerely believing the same to be
true and knowing fully well that on the faith and strength of the correctness thereof the Bank
has agreed to grant the Facility. The Borrower also agrees that it is a condition of the grant of
the Facilities that if any statement made with reference to the above is found to be false at any
time the Bank shall at liberty and entitled to revoke the Facilities.

(OR)

The Borrower declares that the Borrower is related to the directors and /or Senior Officer(s) of the
Bank or of any other Banks as specified hereto:
 Sr.No. Name of Director(s)/ Senior Designation Relationship
Officer(s)
1.
2.
3.

11. LIMITED LIABILITY OF THE BORROWER (S)

The Borrower(s) will continue to use the Residential Property as his/her/their primary
residence till he/she/they is/are alive, or permanently move out of the property, or cease to use
the Residential Property as Permanent Primary Residence.

12. A) EVENTS OF DEFAULT

The Bank may by a written notice to the Borrower(s), declare all sums outstanding under the
Facility (including the principal, interest, charges, expenses) to become due and payable
forthwith irrespective of any agreed maturity forthwith and enforce the security created in
favour of the Bank for the Facility upon the occurrence (in the sole decision of the Bank) of any
one or more of the following:

(a) the Borrower(s) defaults in performing any of its obligations under this Agreement but not
limited to the non-payment of the dues or breaches any of the terms or conditions of this
Agreement or any other security documents, undertakings etc. executed in favour of the Bank;
(b) The Borrower(s) at any time during the currency of the Facility shift the Permanent Primary
Residence from the Residential Property against whom this Facility has been granted and is
mortgaged/to be mortgaged to the Bank.
(c) the Borrower(s) commits any default in the payment of interest, principal, other charges or any
obligation and in the payment of any other amounts to the Bank when due and payable;
(d) the Borrower(s) fails to pay to any person other than the Bank any amount when due and
payable or any person other than the Bank demands repayment of the Facility or dues or
liability of the Borrower(s) to such person ahead of its repayment terms as previously agreed
between such person and the Borrower(s);
(e) the death, failure in business, insolvency, except with prior written approval of the Bank,
general assignment for the benefit of creditors, if the Borrower(s) suspends payment to any
creditors or threatens to do so, insolvency;
(f) any of the information provided by the Borrower(s) to avail the Facility or any of his
Representations, Warranties herein being found to be or becoming incorrect or untrue;
(g) any person other than the Bank commencing proceedings to declare the Borrower(s) insolvent
or if the Borrower(s) shall become bankrupt or insolvent or commit act of insolvency;
(h) the value of the any security created or tendered by the Borrower(s), in the sole discretion and
decision of the Bank, depreciates entitling the Bank to call for further security and the
Borrower(s) fails to give additional security;
(i) the Borrower(s) fails to create the security as provided herein; or
(j) the Bank, for any regulatory or other reasons, is unable or unwilling to continue the Facility;
(k) if a Receiver is appointed in respect of the whole or any part of the property/assets of the
Borrower(s) or if any attachment, distress, execution or other process against the Borrower(s),
or any of the securities is enforced or levied upon;
(l) if any circumstance or event occurs which would or is likely to prejudicially or adversely affect in
 any manner the capacity of the Borrower(s) to repay the Facility or any part thereof;
(m) if the Facility or any part thereof is utilized for any purpose other than the purpose for which it is
applied by the Borrower(s) and sanctioned by the Bank;
(n) if any attachment, distress, execution or other process against the Borrower(s), or any of the
securities is enforced or levied upon;
(o) if any circumstance or event occurs which is prejudicial to or impairs or imperils or jeopardizes
or is likely to prejudice, impair, imperil, depreciate or jeopardize any security given by the
Borrower(s) or any part thereof;
(p) if the Borrower(s), without prior written consent of the Bank, attempts or purports to
create any charge, mortgage, pledge, hypothecation, lien or other encumbrance over the
Borrower(s)’s Residential Property or any part thereof, which is or shall be the security for the
repayment of the said Dues except for securing any other obligations of the Borrower(s) to the
Bank;
(q) if the Borrower(s) fails to furnish any information or documents required by the Bank;
(r) if the Borrower(s) fails to furnish to the Bank detailed end use statement of the Facility as and
when so required by the Bank within the time prescribed by the Bank;
(s) all or substantially all of the undertaking, assets or properties of the Borrower(s) or its interests
therein are seized, compulsorily acquired by the authority of Government.
(t) Any other events which may jeopardize the Bank’s Interest.
(u) It is hereby agreed by the Borrower(s) that the Facility shall become due and payable at the death
of the Borrower or the last surviving Borrower(s) as the case may be, or the Borrower sells the
residential property, or permanently moves out of the Residential Property mortgaged.
(v) Settlement of Facility along with the accumulated interest shall be met from the proceeds received
out of sale of Residential Property mortgaged to the Bank.
(w) Other Conditions for repayment/recall of Facility (Events of Default).

The Facility shall be liable for foreclosure due to occurrence of the following events.

(i) If the Borrower(s) fails to pay Residential Property taxes or maintain and repair the
Residential Property or fails to keep the Residential Property insured, the Bank
reserves the right to insist on repayment of Facility either by bringing the Residential
Property to sale and utilizing the sale proceeds to meet the outstanding balance of
principal and interest
(ii) If Borrower(s) declare himself/herself/themselves bankrupt.
(iii) If the Residential Property so mortgaged to the Bank is donated or abandoned by the
Borrower(s).
(iv) If the Borrower(s) effect changes in the Residential Property that affect the security
of the Facility for the Bank. For example: renting out part or all of the house; adding
a new owner to the house's title; changing the house's zoning classification; or taking
out new debt against the residential property or redevelopment/reconstruction of the
residential property.
(v) Due to perpetration of fraud or misrepresentation by the Borrower(s).
(vi) If a government agency needs the Residential Property for public use (for
example, to build a highway).
(vii) If a government agency condemns the Residential Property (for example, for
health or safety reasons).
 (B) Notice on the happening of an Event of Default

If any event of default or any event which, after the notice or lapse of time or both would
constitute an event of default shall have happened, the Borrower(s) shall forthwith give the
Bank notice thereof in writing specifying such event of default, or such event.

C) Consequences of default:

1. In the event of any default as above the Bank shall have the right:-

A. to recover the entire dues of the Facility,

B. to suspend any withdrawal to be effected in the Facility account,
C. take possession of the security so created whether by itself or through any of the
Recovery Agents or Attorneys as may be appointed by the Bank.
D. take any other action as it may deem fit for recovery of its dues and enforcement of
the securities.
E. The Borrower(s)s or his/her/their heirs can settle the Facility by paying Facility
amount along with accumulated interest, without the sale of the property.

F. If during the tenor of the loan, the applicant and co-applicant expire, the bank will
give reasonable time, Up to 2 months to their legal heirs the option to repay back the
loan. In the event of their refusal, the bank will initiate sale of the property and settle
the loan amount.

2. Further, the Bank shall be entitled to forthwith take physical possession of the assets mortgaged to
the Bank and alienate sell, transfer the said properties either by itself or though its agents and sell
or otherwise deal with the same to enforce the Bank’s security and recover the dues.

3. The Borrower(s) agrees and undertakes not to prevent or obstruct the Bank from taking possession
of the properties irrespective of whether the Facility has been recalled whenever in the opinion of
the Bank, there is an apprehension of any money not being paid or the Bank’s security is being
jeopardized and that the Bank’s representatives will be entitled to sell, give on rent, or otherwise
deal with the properties by public or private auction or private treaty, without being liable for any
loss, and to apply the net proceeds thereof as specified in these presents.

4. The Borrower(s) shall pay any deficiency, forthwith to the Bank. The Bank shall also be entitled to
adjust and a right of set-off on all monies belonging to the Borrower(s) standing to his credit in
any account whatsoever with the Bank, towards payment of such deficiency. Nothing contained in
this clause shall oblige the Bank to sell, hire or deal with the properties and the Bank shall be
entitled to proceed against the Borrower(s) independent of such other security. The Borrower(s)
agrees to accept the Bank’s accounts in respect of such sale, hire, dealing or otherwise as conclusive
proof of the correctness of any sum claimed to be due from the Borrower(s). In case of any deficit,
the deficit amount shall be recovered by the Bank from the Borrower(s).
5. The Bank may at the risk and cost of the Borrower(s) engage one or more person(s) to collect the
Borrower(s)’s outstanding and/or to enforce any security and may furnish to such person the right
and authority to perform and execute all acts, deeds, matters and things connected therewith or
incidental thereto as the Bank thinks fit.
6. It is difficult to envisage a situation when only one facility to a borrower/one investment in any of
the securities issued by the borrower becomes a problem credit/investment and not others.
Therefore, all the facilities granted by a bank to a borrower and investment in all the securities
issued by the borrower will have to be treated as NPA/NPI and not the particular
facility/investment or part thereof which has become irregular.

13. APPOINTMENT OF THE BANK AS THE BORROWER (S)'S ATTORNEY

13.1 The Borrower(s) hereby appoints the Bank as its true and lawful attorney to do and execute
for and in the name and on behalf of the Borrower(s) and where the Borrower(s) is more
than one individual, jointly and severally, all or any of the acts, deeds and things, specified
therein.

14. ASSIGNMENT AND TRANSFER.

14.1 The Bank shall have a right to sell or transfer (by way of assignment, securitisation or
otherwise) whole or part of the Facility and outstanding amounts under the Facility or any
other rights and obligations of the Bank under this Agreement or any other document
pursuant hereto to any person/entity in a manner or under such terms and conditions as
the Bank may decide in its sole discretion without reference to or intimation to the
Borrower(s).
14.2 The Borrower(s) expressly agrees, in the event of sale or transfer as aforesaid, to accept such
person to whom the Facility is sold or transferred as his Bank and make the repayment of
the Facility to such person as may be directed by the Bank.
14.3 The Borrower(s) shall not be entitled to directly or indirectly assign his rights or obligations
under this Agreement in part or in whole to any person.

15 BANKS APPOINTMENT OF AGENT

The rights, powers and remedies available to the Bank under Law and under these presents
shall be exercised by the Bank through any of its employees or agents and the Bank may
delegate any or all of the said powers and authorities to such employee or agent.

16. MISCELLANEOUS

16.1 Without prejudice to the Bank's other rights and remedies, the Bank shall be entitled to
charge at its own discretion enhanced rates of interests on the outstanding in the
Facility accounts or a portion thereof or for any default or irregularity on the
Borrower(s)’s part which in the opinion of the Bank warrants charging of such
enhanced rates of interests for such period as the Bank may deem fit.
16.2 It is hereby agreed between the parties that the Schedule may be amended, revised,
substituted by way of written communication by the Bank to the Borrower(s) from time
to time. Such correspondences between the Bank and acceptance thereof by the
Borrower(s) shall be deemed to be an integral part of this Agreement and shall be read
in conjunction thereof.
16.3 The parties agree that any delay or omission by the Bank in exercising any of its rights,
powers or remedies as the Bank of the Facility under this Agreement and other
documents pursuant hereto shall not impair the right, power or remedy or be construed
 as its waiver or acquiesce by the Bank.
16.4 The Borrower(s) agrees to accept the statement of account sent by the Bank or by any
other authorized representative of the Bank as conclusive proof of the correctness of
any sum claimed to be due from him.
16.5 The Parties confirm that this Agreement and its Schedule and any other documentation
pursuant to it represents one single agreement between the Parties.
16.6 This Agreement supersedes all prior discussions and representations between the
parties, including the Bank brochure, save with respect to the obligations of and
representations made by the Borrower(s) to the Bank set forth in any correspondence,
application forms or otherwise made or agreed to be made howsoever.
16.7 The addresses of the parties shall be as mentioned under the Schedule. The Borrower(s)
shall forthwith inform the Bank of any change in his Address.
16.8 The Bank may, in its own discretion without assigning any reason and upon written
notice mailed or delivered to the Borrower(s) cancel the Facility herein granted and
demand repayment thereof. Delivery of such notification by the Bank shall constitute
sufficient notice of such cancellation, and thereupon the said Facility, all interest due
and payable thereon and all liabilities and other obligations of the Borrower(s) there
under to the Bank including interest, and other charges shall become due and payable
by the Borrower(s) immediately to the Bank.
16.9 Any notice or request required or permitted under this Agreement to be given by either
party to the other shall be only in writing and sent on the address of the other Party as
mentioned in the Schedule (or in case to the Borrower(s), on the address of the
Borrower(s) last known to the Bank)
16.10 Any notice or demand hereunder shall be in writing, signed by any of the Bank’s officers
and may be made by leaving the same or sending it through the post addressed to the
Borrower(s) at the address specified above or the address last known to the Bank; and
a notice or demand so given or made shall be deemed to be given or made on the day it
was so left or, as the case may be, two business days following that on which it was so
posted, and shall be effectual notwithstanding that the same may be returned
undelivered and notwithstanding the Borrower(s)’s change of address.
16.11 The Borrower(s) shall indemnify and keep the Bank indemnified against all actions,
suits, proceedings and all costs, charges, expenses, losses, or damages which may be
incurred or suffered by the Bank by reason of any false or misleading information given
by the Borrower(s) to the Bank hereunder or any breach/default/contravention/non-
observance/non-performance by the Borrower(s) of any terms, conditions, agreements
and provisions hereunder. The Bank shall be entitled to include any amount payable by
the Borrower(s) under this Clause in the said dues being the subject matter of this
Agreement.
16.12 If any provision of this Agreement is illegal, invalid or unenforceable for any reason it will
be severed from the remaining provisions, which will remain unaffected.

17. INSURANCE

17.1 The Borrower(s) shall at all times during the currency of the Facility, at its own cost, keep
the said Residential Property constituting the Bank’s security fully insured against such
risks and for such amounts and for such period and forms as the Bank may require, in
the joint names of the Bank and the Borrower(s) or with the usual Bank mortgage clause,
with such insurance company or companies of repute to be approved by the Bank in
 writing and shall deposit the insurance policies and all cover notes premium receipts etc.
with the Bank. The Borrower(s) shall make punctual payment of all premium and shall
not do or suffer to be done any act which may invalidate such insurance and will on
receipt of any monies under the said policies, pay the same to the Bank which shall, at
the option of the Bank, be applied either in reinstating or replacing the security or in
repayment of the said Dues.

17.2 If the Borrower(s) fails to insure or keep insured the property/assets as aforesaid, then
the Bank shall, without prejudice to or affecting its rights hereunder, have an option (but
not bound) to insure and keep the same insured and the Borrower(s) shall on demand
repay to the Bank all amounts spent or incurred by the Bank in doing so, shall be reduced
from the Facility amount payable to the Borrower(s) and if entire Facility amount has
been paid such expenses incurred by Bank with interest shall be deemed to be the part of
Facility and repayable hereunder.

18. RIGHT OF RECESSION

The Borrower(s) shall be given upto 3 working days to cancel the disbursement and return the
amount already disbursed. The Borrower(s) agrees to pay interest on the amount disbursed at
the rate mentioned in the Schedule and it shall be at the sole discretion of the Bank to
partially/fully waive the amount of interest charged for the 3 days.

19. Registered Will

19.1 The Borrower(s) shall execute a registered Will duly registered with the sub-registrar office
concerned, inter-alia stating that he/she has availed the facility from the Bank and has
mortgaged the residential property as security in favour of the Bank and in the event of death
of the Borrower(s) the Bank shall have the right to enforce the mortgage and recover the
facility amount by way of sale as per the terms and conditions of the facility agreement.

19.2 The registered Will shall be the last Will executed by the Borrower(s) and after the Borrower(s)
death the residential property shall vest in co-borrower (if any). The Borrower(s) also
undertakes not to execute or make any other Will during the tenor of the facility, which will
have an adverse impact on the Bank’s rights towards the mortgage created by the Borrower
over the residential property.

20. CIC Disclosure Clause

The Borrower(s) also agrees, undertakes and confirms as under:

The Borrower(s) understands that as a precondition relating to the grant of and/or continuing
the grant of Credit Facility to the Borrower(s), the Bank requires the Borrower(s)'s consent for
the disclosure by the Bank of, information and data relating to the Borrower(s), of the Credit
Facility availed of/to be availed by the Borrower(s), in discharge thereof.

Accordingly, the Borrower(s) hereby agrees and gives consent for the disclosure by Bank of all
or any such:

1) information and data relating to the Borrower(s);

2) the information of data relating to its Credit Facility availed of/to be availed by the
Borrower(s) and
3) default, if any, committed by the Borrower(s), in discharge of the Borrower(s)'s such
obligation; as the Bank may deem appropriate and necessary, to disclose and furnish to
Credit Information Companies (CIC ) and any other agency authorized in this behalf by
Reserve Bank of India [“RBI”].
The Borrower(s) declares that the information and data furnished by the Borrower(s) to the
Bank are true and correct.

The Borrower(s) also undertakes that:

1) CIC and any other agency so authorized may use, process the said information and data
disclosed by the Bank in the manner as deemed fit by them; and
2) CIC and any other agency so authorized may furnish for consideration, the processed
information and data disclosed or products thereof prepared by them, to
Bank(s)/Financial Institution(s) and other Credit Grantors or Registered Users, as may
be specified by the RBI in this behalf.
3) The Borrower hereby gives specific consent to the Bank/Lender for disclosing /
submitting the ‘financial information’ as defined in Section 3 (13 ) of the Insolvency and
Bankruptcy Code, 2016 ( ‘Code’ for brief ) read with the relevant Regulations/ Rules
framed under the Code, as amended and in force from time to time and as specified there
under from time to time, in respect of the Credit/ Financial facilities availed from the
Bank/ Lender, from time to time, to any ‘Information Utility’ ( ‘IU’ for brief ) as defined
in Section 3 ( 21 ) of the Code, in accordance with the relevant Regulations framed under
the Code, and directions issued by Reserve Bank of India to the banks from time to time
and hereby specifically agree to promptly authenticate the ‘financial information
submitted by the Bank/Lender, as and when requested by the concerned ‘IU’.
SCHEDULE

Sr. Title Details

no.
1. Place of Execution

2. Date of the Agreement

Shri./Smt. _____________________, son/daughter of

Name and Address of the
3. Shri.________________, aged _______ years, residing at
Borrower(s)
_________________
AXIS Bank
4. Address of the Branch _______________
_______________
Amount in figures: Rs. ______________
5. Limits of the Facility
Amount in words: Rupees _______________ only

6. Sanction Letter Reference no. ________________, Dated _____________

7. Nature of the Facility Rupee Facility

_________________years
8. Tenure of the Facility

MCLR : ______ Markup :____ _________

9. Interest Rate Interest Rate: __________________% p.a. (MCLR + markup) to be

mentioned correctly

Periodicity of
10. Interest Monthly/quarterly/Half yearly/Yearly rests
Compounding

11. Penal Interest ______________________% p.a. (Delete if not applicable)

12. Processing Fees

Other
13.
Charges/Fees
Duplicate No Dues
14. Certificate/NOC Rs. 500/- per instance

Repayment
15.
Schedule
(a) Reverse Mortgage of Residential Property situated at
______________, owned by_____________
16. Security (b) Guarantee of_____________________

<Please modify as per Sanction Letter>

SIGNATURE OF THE BORROWER(S)

____________________

____________________Borrower(s)

FOR THE BANK

Signed and delivered by
AXIS Bank Ltd. through
its authorised signatory

__________________