8.

Bank's Rights:
The Bank shall, in relation to the Loan: terms/
amount
of EMI or of
a) the
repayment
Bank any
according to such revi sed
have the sole right at any time during the tenure of this Agreement to reviselreschhedulo y m e n t s to
the

other amounts outstanding there under and the Borrower shall make all future rep2y limited to revision of Inter est Rate
schedule on being notified by the Bank of such revision or reschedulement but not
b) håve the sole right to amend any of the terms and conditions of this Agrecment
ncuing

offocting credt
of the
repayments
without
assigning
of from date of such revision
(including the Defaull Interest Rate). periodicily of compoundinginterest, method
shall
brcome
ppicable in
any reason or notifying the Borrower and the Borrower agree that Such revision to
the records of t he Bank insUrance in relation the Vehicle
of fho
c) have the right to receive and adjust any payment/s that it may receive as an Assiarnee

towards amounts due and/or payable by the Borrower under this Agreement available for the purp0se of inspecting.
Vehictn is
the Borrower or any other
d) have the right to enter upon the premises in whichthe Vehicle is kept or wherever the access
cither by
the Vehicle is
examining and repossessing the same. In the event of any resistance or prevention of
door of fhe premises where situated
person. the representative of the Bank shal be entitled to break open the lock or the
Bank and/or anyrepaynentcommitted by him
default
and enter the premises for the purpose herein stated:
e) be entitled to disclose any information about the Borrower., his accOunt relaionship with the
whether in forrn of conduct, rating
(whether such information is provided by the Borrower or obtained by the Bank itself andIndia, any Refinancing agency and such third
Bank of entitled to seek and receive
or defaults) to its head office, other branch offices, affiliated entities,Reserve The Bank
also be
shall
parties as the Bank may in its sole and exclusive discretion, deem fit and proper. third party;
and
any information as it deems fit in connection with the Loan and/or the Borrower from any the
ernployment
prior to the age of
retire frorn
f be entitled to require the co- Borrower, inthe event of the co-Borrower opting to resign or whatsoever, to instruct his employer to remit
from his employer on
superannuation or is discharged or removed from service before such date for any reason by the
CO-Borrower

the entire dues (including provident fund, gratuity and compensation) becoming payable same
towards the co--Borrower's liability under the
account of his such cessation of employment and to receive and appropriate the
Loan. credit in any
account whatsoever with the
standing to their
g) have a lien and right of set-off on all moneys belonging to the Borrower
Bank.
undertakes with the Bank
9. Borrower's Representations, Warranties, Covenants and Undertakings. to/ covenants/
91 With a view to induce the Bank to grant the Loan to him, the Borrower, herebyy
represents/warrants

that it
and details to tho Bonk ohout himoalf and no
vital information nas beern omit ed to be
a has furnished complete and accurate information
iree from all
stated
hereunder are not renaid to the Ronk
oloar and marketable title to the ve hicle,
Shall aWays nave until all his dues without the prior
encumbrances whatsoever
Agreement. avail of or obtain any further Loon
or fcility on the security of the Vehicle
c Shall not, during the tenure of this
written Consent of the Bank. other information/ doCuments Concerning
his
statement/s required by the Bank furnish such
d) Shall in addition to the income/ financial otherwise as the Bank may require from time to time; insurances, licenses,
employment, trade, business, profession or authorizations. approvals, consents,
maintain in full force and effect all the Collateral Documents and the
e) shall obtain and do all that is necessary to relation to fhis agreements, each of
permissIoNs and renewals required in or
by the law of IHdia in
performance of obligations hereunder and hereunderRegistering and the Vehicle; ensure to note the lien of
appropriate Authority under the Motor Vehicles Act, 1988 and
shall get the Vehicle registered with the for
the Bank on RTA document; delivering the application thereof to the bank
Certificate for the Vehicle othewise than by
g shall not apply for any duplicate Registration
endorsing its charge of the Vehicle; shall pay all premia and other amounts due
the Insurance Policy when he receives the same and
shallalso keep deposited with the Banka copy of maintain the insurance Policy in full force and
become due and shalltake all steps necessary to
h)
under the said Policy punctually as and when they the satd Policy may or likely to be vitiated and ensure to note the lien of the Bank on
the
effect and shall abstain from doing any acts whereby an
Insurance Policy document. said insurances and receive money thereon. In
the Bank's status of sole beneficiary under the ba lance shall be alone
shalldo all acts as may be required to maintain Borrowers Loan account with the Bank and any
go towards settling the
event any Insurance claim is received, it shall first settlement is lesser than the amOunt due to the bank the Borrower shall forthwith pay it to
the
installment
be refunded to the Borrower. Incase
Bank, the said deficit amount. majeure orAct of God;
shall promptly inforn the Bank ofany loss or damage to the Vehicle due to any force other information/ documents concern ing his
employment,
statement/s required by the Bank furnish such
k) shallinaddition to the income/ financial require from time to time;
the Bank may
trade, business, professionor otherwise as the Bank, repay to the Bank the Loan in accordance with
the Repayme nt Terms
shall promptly and without requiring any notice or reminder from
mentioned in the Schedule;
severally liable to repay the L0an, interest and all other
sums due and pavable under this
m shall (in case of more than one Borrower) be jointly and
conditions; act which is d estructive or
Agreement and to observe its terms and condition and not allow it to deteriorate or commit any
n shall maintain the Vehicle in good order and habitable render the security in favour of the Bank, insufficient:
which will
permanently injurious to the Vehicle or do anything charges pertain to the Vehicle:
discharge all rates, taxes, outgoings and
shallpay and
Bankofany likely change in his employment;
where applicable, shall inform the Vehicle or anv part of it (whether by
shall not durina the tenure of this Agreement, either part with possessIon of or create third party rights in the
q) or
mortgage, agreement or option obligation;
otherwise);
way of sale, exchange, lease, any thírd party liability or
shall not stand surety or guarantor for business or long stay without tirst Tuly repaying the Loan then outstanding due s pavable with interest and
s) shallnot leave India for employment or
this Loan, and in
other dues; and keep nimself aware of the rules of the Bank. as pertain ing to
t shallconmplv with allthe terms of the most important information
Motor Vehicles Act.
tor the use or the Vehicle under all relevant statutes including the
force from time to time,
u) shall obtain all necessarv licenses, permits and permissions amendment thereof,
statutory replacement or
1988, the rules thereunder or any and drivenoniy by those persons holding a valid
drivinglicane
V) aarees and undertakes that the Vehicle shall be operated trom tne State of without the permiss ion of the Bank Provided that the Bank shall
shall not remove the Vehicle or permit or suffer it to be removed
w) Use of the Vehicle fora spec ific period of time andlor for a specific
be entitled though not bound to grant a general or continuing permissiontor tne
destination outside the State
aforesaid.
undertakestointimatethe Bank of any change in his residential adaresS or employment or any change in the premises where th e Vehicle is
X
(when immovable) within 10 days from the date of such change.
normally retained
shalldulv secure the endorsement in regard to ths Loan and lierinalKed lo ne Bank in Registration Certificate Book and in the fles and records
y
of the.Ponional Transport Oficer as required by law and shall submitlO the bank immediately thereafter, copjes of the Regis tration Certificates
duly cortifed in case any fresh regístration is required, the borrower undertakes that the same shall be similary endorsed to estabijsh the
hypothecation to the Bank.