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SIMPLE MORTGAGE TO SECURE HOUSING LOAN

(To be stamped as a mortgage and to be attested by two witnesses)

THIS INDENTURE OF MORTGAGE is made at Igatpuri this 9th day of June 2016 by

1) Shri Chandrakant Baban Donde Age -42

Occupation Contractor of residential and commercial construction projects residing

at Awalkhed, Post Tringalwadi, Tal-Igatpuri Dist-Nashik-422403

Of the One Part in favour of Bank Of Maharashtra a new Bank constituted by the Banking
Companies (Aquisition &Transfer of Undertakings) Act 1970 and having its office at
Lokmangal, 1501 Shivajinagar, Pune 411005 and a branch office at Igatpuri hereinafter called
"The Mortgage " which expression shall, unless it is repugnant to the context or meaning thereof,
include its successors and assigns) of the Other Part.

WHEREAS the Mortgagor/s has /have represented to the Mortgagee Bank that he/she /they
has/have acquired the property described in the Second schedule written hereunder, under the
Agreement to sale dated ______ executed between the Mortgagor/s and Mr/Mrs/Smt
___________________ M/s _____________ a Registered Partnership firm/a Limited Company
having its Registered Office at ______________ The said Agreement is Registered with the Sub
Registrar _______ under the serial No ________ dated ______

AND WHEREAS the Mortgagor wants to avail a Loan under the Housing Loan Schemes of the
Mortgagee Bank and has therefore approached the Mortgagee with a request to grant to him a
Loan of Rs 14,00,000/- ( In Words Fourteen Lakhs Only) for purchase of Land/Land and
Building/ flat/Apartment/shop/commercial premises/repairs of the existing premises.

AND WHEREAS the Mortgagee has considered the said request on the terms and conditions
mentioned in its letter of sanction and inter alia on the condition that the Mortgagor shall repay
the said loan together with the interest., costs, charges and expenses as stipulated in the letter of
sanction and for securing the said property acquired/ to be and which is more particularly
described in the Second Schedule hereunder written.

AND WHEREAS the Mortgagor has agreed to the said terms and conditions and the mortgage
the said property/ the right, title and interest therein and is therefore executing these presents to
mortgage the property more particularly described in the Second schedule hereunder written on
terms and conditions and in the manner hereinafter appearing.

AND WHEREAS the Mortgagor’s Title to the said Property is yet to be perfected as Sale or
Conveyance under proposed Co-Operative Societies Act, Formalities have yet to be executed
and/or consents/permissions and the other statutory formalities have yet to be completed with
before the Mortgage can be created in favour of Bank as a security, the Mortgagor’s requested
the Bank that he/she/they is /are mortgaging their right, title and interest, right of occupancy and
or right of whatsoever nature under the Agreement entered between the --- Mortgagor’s ----- and
M/s ------------- as prescribed in the respective Ownership Flats/Apartment Ownership Act.
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NOW THIS INDENTURE WITNESSETH AS FOLLOWS:

1. Consideration and repayment - In pursuance of the said agreement and in

consideration of the sum of the Rs. 14,00,000/- ( In words Fourteen Lakhs Only)
agreed to be lent and advanced by he Mortgagee to the Mortgagor/s in one or more
instalments according to the needs of the Mortgagor/s and as the Mortgagee deems fit,
the Mortgagor/s do and each of them doth hereby covenant with the Mortgagee that the
Mortgagor’/s shall repay the said loan to the Mortgagee at 9.65 % or wherever
demanded in the manner detailed in the First Schedule hereunder written or such
repayment programme as may be mutually agreed between the Mortgagor/s and the
Mortgagee, and also all costs, charges and expenses incurred or to be incurred by the
Mortgagee till the date of repayment or realization of the entire balance, for the
preservation, protection, defence and perfection of the security hereby created or for
attempted or actual realisation or enforcement of the mortgage.
2. Interest-
i) The Borrower/s further covenant/s with the Bank to pay interest on the
said sum of Rs. 14,00,000/-( in words Fourteen lakhs only)or such sum
as may be due by the Borrower/s to the Bank from time to time.
 At the fixed rate of 9.65 % p.a. monthly/quarterly annual rests ti be taken
and such interest to be paid at the end of each month/quarter/half year/year till
the entire loan of Rs. 14,00,000/- and interest, costs, charges and expenses
thereon is repaid in full.
OR
 At the Floating rate of interest % above BPLR OR Rate or as may be
stipulated by the Bank from time to time with a minimum of --------% p.a.
with monthly/quarterly/ rests to be taken and such interest to be paid at the end
of each month/quarter of each year till the entire loan of Rs ------------ and
interest ,costs, charges and expenses thereon is repaid in full

OR
 At the Floating rate of interest ------% above BOPLR OR Base Rate or the
rate as may be stipulated by the Bank from time to time for calculating the
Equated Monthly Instalments. The Equated Monthly Instalments (EMI)
comprises of Principle plus Interest, and as such both principal and interest
shall be paid each month ads Equated monthly Instalments. The Borrower
further agree that the EMI has been fixed and agreed by the Borrower is likely
to be charged with change in rate and the Borrowers/s agree to pay EMI as
may be applicable from time to time.
ii) Compounding of interest – The Mortgagor/s further covenant/s with the
Mortgagee that in default in payment of sny one instalment of
monthly/quarterly interest as stated above, the amount of such interest
shall be capitalised and the mortgagee shall be entitles to charge interest at
the same rate as is applicable to the said loan with which shall stand
secured by theses presents.
iii) Change in rate of interest and periodicity of rests- The Mortgagor/s
further covenant/s with the Mortgagee that the Mortgagee shall be entitled
to change the rate of interest and penal interest of the periodicity of rests
for charging the interest whether on a/c of RBI directives, availment, non-
availment of refinance or otherwise at any time by giving notice to the
Mortgagor or any of the Mortgagors and / or notifying on the notice boards
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of the Mortgagee or in local newspaper and shall thereafter be entitled to

charge at the changed rate and/rests as if the same was provided for in this
deed.
iv) Penal interest- The Mortgagor further covenant/s with the Mortgagee that
in default in payment of any one instalments of principal or the
monthly /quarterly interest on the due dates the Mortgagee shall be
entitled to charge penal interest ( by way of liquidated damages) at the rate
of 2% p.a. from the date of default to the date of payment.
v) Notwithstanding the Bank’s decision. action/policy, if any, to reverse any
debit entry or not to debit interest or not to make any debit entry in Bank’s
books or in ledger account or in statement of account or any account, for
any period whatsoever the Mortgagors shall be bound and liable to pay
jointly and severally to the Bank, the entire outstanding balance and
compound interest thereon with quarterly rests till the date of realisation,
recovery or collection by Bank of all such amounts plus penal interest,
additional interest, liquidated damages, commission ,costs ,charges and
expenses at such rates as may be prevailing or fixed or to be fixed by the
Bank from time to time without reference, notice or intimation by the
Bank at any time whatsoever .

3) Security- In further pursuance of the said agreement and for the

consideration aforesaid the Mortgagor do and each of the, doth hereby
charge, mortgage and transfer his/their respective interest in, to and upon
his/their said property more particularly described in the Schedule II
hereunder written together with all and singular the buildings, structures,
yard,areas,ways,passages,sewers,drains,trees,palnts,wells,water,lights,liber
ties, privileges, easements advantages and appurtenances whatsoever to the
said land, hereditaments and premises or any part thereof and the fixed
plant, machinery and fixtures annexed thereto belonging to or in anywise
appertaining or usually held or enjoyed or occupied therewith or reputed
to belong or be appurtenant thereto and all in the right ,title ,interest ,claim
and demand whatsoever of the Mortgagor in the said property(which all
premises hereby mortgaged hereinafter for brevity’s sake are referred to as
“ The Mortgaged Property”) UNTO and in favour of the Mortgagee to
secure repayment of the said loan and all the interests , costs, charges
expenses and other sums hereby secured and to be paid by the Mortgagor
to the Mortgagee.

4) Utilization of loan - The Mortgagor covenant that the loan will be utilised for
the purpose for which it is sanctioned by the Mortgagee and for no other
purpose and all terms and conditions of sanction of the loan will be duly
observed.

5) Default in payment - In the event of-

a. default in payment of any instalment of principal amount on its due date,

b. in default in payment of interest as and when it becomes due,

c. breach being committed any of the covenants herein contained and to be

observed and performed by the Mortgagor /s the Mortgagee shall have the
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option to demand payment of the entire amount of said loan then

outstanding as if the due dates had elapsed.

6) Enforcement of security - In default of payment of the said loan or such sums

as may be due by the Mortgagor /s to the Mortgagee in respect of the said
loan including all interest, costs, charges and expenses to be paid by the
Mortgagor hereunder (hereinafter for brevity’s sake referred to as the
'Mortgage Debt') on the day when same becomes due and payable by
Mortgagor to the Mortgagee, the Mortgagee shall be entitled to enforce the
security hereby created by filling a suit against the Mortgagor /s for
recovery of the Mortgage Debt and/ or for sale of mortgaged property
through court and shall be entitled to take on costs of such suit as well as
all other costs and expenses incurred for preservation and defence of the
security to the mortgage debt.

7) The Mortgagor /s do and each of them doth hereby covenant /s with the
Mortgagee as follows:

a) That the Mortgagor /s has/have good right and full power to mortgage and
transfer the said mortgaged property hereby mortgaged free from all
attachments, notices, claims,. Liens and encumbrance and that the
Mortgagor /s and every other persons having or claiming any estate or
interest in the said mortgaged property or any part thereof will at all times
at the costs until the sale thereof of Mortgagor/s and afterwards of the
persons entitled thereto on requiring the same execute and do all such
assurance and acts for further and more effectually assuring the said
mortgaged property or any part thereof to the Mortgagee or to such other
person as it may direct as shall be reasonably required. The Mortgagor /s
further covenant /s with the Bank that he/they/it shall not create any
mortgage or charge on, lease or monthly tenancy in respect of the said
mortgaged property or part thereof in favour of any person without the
permission of the Mortgagee as long as any amount shall be due by the
Mortgagor /s to the Mortgagee. The Mortgagor /s state /s that there is no
insolvency /winding up petition pending against him/them/it in any court.

b) That the Mortgagee/s will maintain and keep in a good and tenantable state
of repairs and conditions the said mortgaged property expressed be hereby
assured.

c) Insurance - The Mortgaged assets shall at all times during the continuance of
this facility and so long as any money shall remain due and owing under
the said loan account be maintained in good and working condition and
insured by and at the expenses of the Borrowers against loss or damage by
fire ,flood ,theft , burglary, and such other risks as may be from time to
time required by the Bank or browse required by law to the full extent of
the value thereof, in an insurance office or offices, of repute approved by
the Bank in the name of the Borrower/s and assign to the Bank and either
case the policies shall be handed over to the Bank. The Borrower/s shall
duly and punctually pay the premium due on the policies at least one week
before the same shall have become due or payable and hand over the
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receipts to the Bank and Borrower/s agrees not to raise at anytime any
dispute as to the amount of insurable interest of the Bank.

If the Borrower shall make the default in effecting such insurance as

aforesaid or renewing any policy or in respect of payment of such
premium or in keeping the hypothecated /mortgaged assets so insured or in
delivering to Bank the policies or receipts for the premium it shall be
lawful for BUT NOT OBLIGATORY ON the Bank at its option to effect
such insurance or to renew or to pay such premium and to keep the
hypothecated /mortgaged assets insured and to debit the expenses incurred
by Bank for that purpose to the Borrower's account and the same be treated
as an advance secured by these presents.

Even though the Bank may have on earlier occasions exercised the option
to take out or renew the policy and even though the earlier original policy
may be in possession of the Bank, the same shall not cast any obligation
on the Bank to do so on any subsequent occasions and this shall be the sole
and primary responsibility of the borrowers. in case the Borrower suffers
any loss due to non renewal of policy /non payment of the premia or due to
any other reason for which the claim may be rejected by the Insurance
Company, the Bank shall not be in any way liable for the same.

d) Taxes on Mortgaged Property - That the Mortgagor /s will duly and

punctually pay, perform and observe all rents, rates, taxes, assessments,
outgoings, covenants and obligations which are to be paid observed or
performed by the Mortgagor /s in respect of the said mortgaged property or
otherwise howsoever and shall pay other taxes and dues such as sales tax,
income tax, ESI dues provident fund, workers dues etc. and keep the
mortgaged property free from attachment.

e) Inspection - That Mortgagor /s will permit the Mortgagee or any person

authorised by it at any time and from time to time during the hours of
business, so long as any moneys shall remain due or owing hereunder to
inspect and part of the mortgaged property and render them such assistance
as may be required for any of the purposes aforesaid and will furnish to the
Mortgagee or to such person or persons as it shall from time to time
appoint for purpose all such information relating to the business or affairs
of the Mortgagor/s or the mortgaged property or any part thereof as he or
they shall require.

8) Margin - The Mortgagor/s agree/s to maintain a minimum margin of

-----------% in favour of the Mortgagee between the amounts outstanding
under the said loan and the market value or book value (whichever is
lower) of the mortgaged property. If the Mortgagor/s fail/s to maintain
the margin as aforesaid, he/they agree/s to furnish additional security to the
satisfaction of the Mortgagee.

9) In case of default committed by the Borrower, the Bank shall be entitled to

publish name, photograph, dealing, etc. of the Borrower in any media
such as television, local T.V. network, newspaper, magazine, Internet, m
mobile, etc as the Bank in its sole discretion may decide.
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10) The Borrower/s agree that as a pre-condition, relating to grant of the

loans/advances /other non-fund based credit facilities to the Borrower/s
and relating to the guarantees by the Borrower/s in the Bank 's favour, the
Bank requires the Borrower/s consent for the disclosure by the Bank of,
information and data relating to the Borrower/s of the credit facility
availed / to be availed by the Borrower/s, obligations assumed / to be
assumed by the Borrower/s, in relation thereto and default,. If any,
committed by the Borrower/s in discharge thereof.

Accordingly, the Borrower/s, hereby agree and give consent for the disclosure by
the Bank of all or any such;

a) Information and data relating to the Borrower/s

b) the information or data relating to in any credit facility availed /to be

availed, by me/us, and relating to our obligations as guarantor and

c) Default, if any, committed by the Borrower/s, discharge of the

Borrower/s such obligation, as the Bank may deem appropriate and
necessary, to the disclose and furnish to Credit information Bureau (India)
Ltd. and any other agency authorized in this behalf by 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 doth /do hereby undertake that:

a) the Credit Information Bureau (India) Ltd. 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

b) the Credit Information Bureau (India) Ltd. and any other agency so
authorized may furnish for consideration, the processed information and
data or products thereof prepared by them, to banks /financial institutions
and other credit grantor or registered users as may be specified by the
Reserve Bank in this behalf.

11) The Borrower/s agrees that the Bank shall be entitled to treat any of his/her
acts or omissions as Willful Defaulters in the following events viz.

A) if we commit default in meeting payment /repayment obligations to

Bank even when we have the capacity to honour the said obligations,

B) if we commit default in meeting payment /repayment obligations to

Bank and do /does not utilize the finance availed from Bank for the
specific purposes for which it was availed z and divert the funds for other
purposes,

C) if we commit default in meeting our payment /repayment obligations to

Bank and siphon off the funds so that the funds have not been utilised for
the specific purpose for which finance was availed of, nor the funds are
available with us in the form of other assets.
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12) Any stamp duty, penalty, registration charges, of deficit therein, if any,.
Payable on this document shall be borne and paid by the Borrower and not
by the Bank.

13) Any demand or notice to be made or given to the Borrower /s may be

made or given by leaving the same at or posting the same bt post in an
envelope under Certificate of posting addressed to the Borrower /s at their
place of business residence or office as per record of the Bank and every
such demand or notice shall be deemed to be received as the case may be
at the time at which it is left or at the time at which it should have been
delivered in the ordinary course of post.

14) Without prejudice to the Bank 's absolute right in its uncontrolled
discretion to adjust, appropriate or setoff at any time to time any amount
received or to be received by the Bank from the Mortgagors or any amount
due or to become due to Mortgagors towards any amount due or to become
due by Mortgagor to the Bank in any account at any of the Bank 's
branches whatsoever, any amount received or to be received by the Bank
may first appropriated by the Bank towards costs, charges and expenses
incurred by the Bank and surplus amount if any, may thereafter be
appropriated by the Bank towards interest chargeable by the Bank and
surplus amount, if any lastly be appropriated by the Bank towards
principal amount due to the Bank.

15) The Bank shall be entitled at any time and from time to time without any
notice, reference or intimation to the Mortgagor and without the
Mortgagor consent to adjust, appropriate or set off any credit balance or
any part thereof due or to become due to Mortgagors in any of his /her
current, saving, term deposit or any deposit A/c or any a/c whatsoever at
any of the bank's branches in his /her/their name/s with or without joint
names of any other persons on or before or after the maturity dates thereof
towards satisfaction or part satisfaction of outstanding debit balances due
to or to become due by Borrower/s to the Bank in any A/c at any of the
Bank's branches whatsoever.

16) The Mortgagors do hereby agree, undertake, record, declare, admit,

assure,. Promise, acknowledge and confirm to abide by, accept, satisfy,
fulfil, carry, outperform, and comply fully with all the terms, conditions,
requirements, sanctions, provisions and stipulations or any amendments or
modifications therein made or to be made bt bank at any time or from time
to time in it's discretion concerning any of his/ her/their facilities, limits or
accounts without any reference notice or intimation by the Bank in that
behalf.

17) Non application of S.67A T.P.Act -S67A of the Transfer of property Acts
1882 shall not apply to these presents and the Mortgagee notwithstanding
that it may hold two or more mortgages executed by the Mortgagor/s
including these presents in respect of which it may have the right to obtain
the same kind of a decee u/s 67 of the said Transfer of property Act shall
be entitled to sue obtain such decree separately in respect of each of such
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mortgages without being bound t sue on all such mortgages in respect of

which the mortgage moneys shall have become due.

15) Changes in constitution - No change whatsoever in the constitution of

the Mortgagor /s shall affect or discharge the liability of the Mortgagor /s
to the Mortgagee hereunder.

16) Notice - Any demand or notice to be made or given to the Mortgagor/s

may be made or given by leaving the same at or posting the same by post
in an envelope under Certificate of posting addressed to the Mortgagor or
any of the Mortgagor/s at their place of business, residence or office as per
record of the Bank or affixed on the mortgaged property and every such
demand or notice shall be deemed to be received as the case may be at
time at which it is left or at the time which it should have been delivered in
the ordinary course of post.

17) Additional terms and conditions -

The First Schedule Above referred to

REPAYMENT SCHEDULE

Equated Monthly Instalment (EMI) Amount Rs. Due Date

commencing from ----- 13950/-

(On or before the last. Day
of the each month)

(Copy of the Sanction Letter dated 04/06/2016 annexed)

SECOND SCHEDULE ABOVE REFERRED TO

(Description of the property)

*All those pieces and parcels of land situate being and lying at village Igatpuri in
the registration Dist Nashik Sub-Dist Igatpuri admeasuring 163 sq.mtr
and bearing CST/Survey No69B/1 bounded as follows

On or towards the North: As Per Record

On or towards the East: As Per Record

On or towards the West: As Per Record

On or towards the South: As Per Record

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together with the buildings and structures/residential block constructed to/to be

constructed thereon admeasuring Sq.mtr(carpet) i.e102.28 Sq.ft /Sq.mrs
(built up) in aggregate consisting of ------- rooms on ------- floor/s and all
the fixture annexed thereto as per the list annexed.

OR

*A Flat /Apartment No. ------ on the ------- floor of the Building -------- in the
proposed ---------- Co. Op.Housing Society Ltd./ ---------Apartments,
admeasuring -----Sq.ft./Sq.mts. (carpet) and -------- Sq.ft/Sq.mts. (built
up)consisting of ------- rooms and constructed on

All those pieces and parcels of land situate being and lying at village ------in the
registration Dist---------- Sub-Dist ----admeasuring -----and bearing
CST/Survey Nos. ------bounded as follows

On or towards the North : As Per Record

On or toward the East : As Per Record

On or towards the West: As Per Record

On or towards the South : As Per Record

Together with all the fixtures, furniture as per the details annexed.

(*appropriate Description be given by using format above as may be applicable)

IN WITNESS WHEREOF the Mortgagor/s has/have set his/their respective

hand/s on the date first hereinabove written.

SIGNED AND DELIVERED BY

-------------------------------

( Shri Chandrakant Baban Donde)

( Signature of Mortgagor/s)

_______________________

Branch Manager
For Bank of Maharashtra
Mr. Navneetchandra Eknath Pandit)
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In the presence of

1) __________________________

2) __________________________

(Name & Addresses of witnesses) (Signature of witness/es)