Supplemental Deed of Mortgage substituting securities originally offered by new securities for repayment of balance of the loan amount with interest under same terms and conditions as of original mortgage
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.
And intended to be read as annexed or supplemental to an Indenture of Mortgage dated ___________ and made between the Mortgagor of the One Part and the Mortgagee of the Other Part and registered at ___________ in Book No ___________ Volume No ___________ pages ___________ to ___________ Being No ___________ for the year ___________
WHEREAS the Mortgagor is seized and possessed of the hereditaments and premises mentioned and described in Parts I and II of Schedule “A” hereunder written and the inheritance thereof as absolute owner free from all encumbrances.
AND WHEREAS by the said Indenture of Mortgage dated ___________ the Mortgagor for the consideration therein mentioned covenanted with the Mortgagee that the Mortgagor would on ___________ pay to the Mortgagee the sum of Rs ___________ with interest thereon at the rate and in manner therein provided until the same shall be fully paid and for the purpose of securing performance by the Mortgagor of the covenants and engagements therein contained granted and conveyed unto the Mortgagee among several other properties the hereditaments mentioned and described in Schedule “B” hereunder written subject to the proviso for redemption therein contained.
AND WHEREAS there is now due and owing to the Mortgagee under and by virtue of the said Indenture of Mortgage dated ___________ the sum of Rs ___________ for principal and the sum of Rs ___________ for balance of interest up to the date of these presents as the Mortgagor hereby admits and acknowledges.
AND WHEREAS the Mortgagor has requested the Mortgagee to re-convey and re-transfer unto the Mortgagor the hereditaments mentioned and described in Schedule “B” hereunder written and to receive in lieu or substitution thereof the hereditaments respectively mentioned and described in Parts I and II of Schedule “A” hereunder written.
AND WHEREAS upon the treaty of these presents it has been agreed between the parties hereto that the Mortgagee should reconveys the hereditaments mentioned and described in Schedule “B” hereunder written in consideration of the Mortgagor executing these presents.
AND WHEREAS pursuant to and in part performance of the said agreements by an Indenture of Reconveyance bearing even date with these presents the Mortgagee has re-conveyed unto the Mortgagor the hereditaments mentioned and described in Schedule “B” hereunder written.
NOW THIS INDENTURE WITNESSETH that in pursuance of the said agreements and in consideration of the premises they the Mortgagor hereby respectively grant, convey and transfer unto the Mortgagee ALL THOSE the hereditaments respectively mentioned and described in Parts I and II of Schedule “A” hereunder written TOGETHER WITH (Insert general words, estate and deed clauses) TO HAVE AND TO HOLD the same respectively unto the Mortgagee subject in all respects to the right or equity of redemption and all other the powers and provisions contained in the said Indenture of Mortgage dated ___________ for securing and obtaining payment of the principal, interest and costs thereby secured AND with the benefit and advantages of the covenants on the part of the Mortgagor therein contained concerning the several hereditaments thereby granted and conveyed TO THE END AND INTENT that the hereditaments respectively mentioned and described in Parts I and II of Schedule “A” hereunder written shall in all respects be substituted for the hereditaments mentioned and described in Schedule “B” hereunder written as securities for the repayment of all principal monies, interests and costs secured by the said Indenture of Mortgage dated ___________ AND the Mortgagor hereby respectively covenant with the Mortgagee (insert usual covenants for title).
THE SCHEDULE “A” ABOVE REFERRED TO: (Describe the properties substituted)
(Part I & Part II)
THE SCHEDULE “B” ABOVE REFERRED TO: (Describe the property reconveyed)
WITNESSES:
- FIRST PARTY
- SECOND PARTY
