Supplemental Deed of Mortgage offering additional security on account of deterioration in value of the original security offered, all the terms, conditions and covenants of the original mortgage to be applicable
THIS INDENTURE is made on this ____________ day of _____________.
BETWEEN
Mr. ___________ S/O ___________ R/O ___________ hereinafter named “Mortgagor” (which expression shall unless contrary to the context include his related successors, executors, administrators and assigns) of the ONE PART
AND
Mr. ___________ S/O ___________ R/O ___________ hereinafter named “Mortgagee” (which expression shall unless contrary to the context include his related successors, executors, administrators and assigns) of the OTHER PART.
WHEREAS:
(1) By an Indenture of Mortgage dated ___________ and made between the Mortgagor of the One Part and the Mortgagee of the Other Part the hereditaments comprised therein were granted and conveyed by the Mortgagor unto the Mortgagee by way of mortgage for securing the payment to the Mortgagee of the sum of Rs ___________ with interest thereon at the rate and on the day therein mentioned.
(2) The said sum of Rs ___________ and all interest thereon have remained due and owing on the security of the said Indenture of Mortgage.
(3) The hereditaments granted and conveyed as aforesaid by the said Indenture of Mortgage have since deteriorated in value.
(4) At the request of the Mortgagee the Mortgagor has agreed to grant and convey unto the Mortgagee the hereditaments mentioned and described in the schedule hereunder written by way of additional security for the said principal sum of Rs ___________ and interest for the same in manner hereinafter expressed.
NOW THIS INDENTURE WITNESSETH that in pursuance of the said agreement and in consideration of the sum of Rs ___________ so remaining due and owing as aforesaid under the said Indenture of Mortgage he the Mortgagor hereby grants, conveys and transfers unto the Mortgagee ALL THAT the hereditaments mentioned and described in the schedule hereunder written TOGETHER WITH (insert general words, estate and deed clauses) TO HAVE AND TO HOLD the same unto the Mortgagee subject to such right of redemption as the hereditaments comprised in the said Indenture of Mortgage are now subject thereunder and so that all the rights, powers and provisions contained therein shall extend to and be applicable to the hereditaments hereby granted and conveyed in the same manner as if the corresponding rights, powers and provisions were expressly inserted in these presents.
And the Mortgagor hereby covenants with the Mortgagee that he the Mortgagor is solely seized and possessed of the hereditaments mentioned in the schedule hereunder written as an absolute owner free from all encumbrances.
THE SCHEDULE ABOVE REFERRED TO:
(Description of additional property mortgaged)
WITNESSES:
- FIRST PARTY
- SECOND PARTY
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