Draft - Simple or Registerred Mortgage

DEED OF SIMPLE MORTGAGE
(Mortgage without Possession)
THIS DEED OF SIMPLE MORTGAGE is made at _______ this _______ day of

_______2020,
By
Mr.___________________, PAN No:____________ S/o.______________, residing at

__________________________________________________ herein referred to as the
“Mortgagor” of the one part
To and In favour of
M/s CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED

(CIFCL) a Company having its Registered office at ‘Chola Crest’, C 54 & 55, Super B-4,
Thiru Vi Ka Industrial Estate, Guindy, Chennai – 600032 and among others, having one of its
their Branch office at __________________and represented by its Authorized signatory,
MR. ___________________________, hereinafter called the “MORTGAGEE “on the other
part;
Page 1 of 4
(1) Mortgagor is the absolute owner of ______________________
_____________________________ and more particularly described in the
schedule hereunder written.
(2) The Mortgagors is being in need of money against the Schedule mentioned
property requested the Mortgagee to lend him a sum of Rs.____________/-
(Rupees _______ _____________________________ Only) which the
mortgagee has agreed to give on the Mortgagors executing these presents with a
view to secure the repayment thereof with interest as hereinafter provided.
NOW THIS DEED WITNESSETH that pursuant to the said agreement and in
consideration of the sum of Rs.____________/- (Rupees _______
_____________________________ Only) lent and advanced by the Mortgagee to the
Mortgagors on the execution of these presents (receipt whereof the Mortgagors doth
hereby admit) they, the Mortgagors, hereby covenants with the Mortgagee that they will
pay to the mortgagee the said sum of Rs.____________/- (Rupees _______
_____________________________ Only) as agreed, AND it is agreed and declared that
in the event of the Mortgagors committing default in repayment of loan amount with
interest as agreed or committing breach of any other term of the deed, the whole amount
of principal then due with interest thereon will at the option of the mortgagee become
payable forthwith as if the said due date had expires.
AND THIS DEED FURTHER WITNESSETH that the Mortgagors doth hereby
mortgage that piece and parcel of ____________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
____________________ and described in the schedule hereunder written as a security for
repayment of the said sum with interest and all other moneys due and payable hereunder
with a condition that on the Mortgagors repaying the said principle sum of
Rs.____________/- (Rupees _______ _____________________________ Only) with
all interest and other moneys due to the mortgagee (hereinafter referred to as the
mortgage amount) the mortgagee will redeem the said land premises from the mortgage
Page 2 of 4
security and shall if so required by the Mortgagors execute a deed of reconveyance but at
the costs of the Mortgagors.
And it is further agreed and declared by the Mortgagors that in the event of the
Mortgagors failing to pay the said principal sum with all interest and other moneys when
the same shall become due and payable under these presents, the mortgagee exercise his
right over the mortgaged property as per the terms & Conditions of the loan agreement.
And it is further agreed and declared by the Mortgagors that he shall also be liable to pay
and shall pay all the costs, charges and expenses that the mortgagee will incur for the
protection of the mortgage security and or for the realization of the mortgage amount and
the same shall be deemed to form part of that mortgage amount and the security therefore
as aforesaid.
And it is further agreed that during pendency of the security hereby created and until
repayment of the mortgage amount, the Mortgagors will get insured and keep insured the
buildings and structures standing on the said land against loss and damages due to fire or
any other accident. Which sum insurance company of repute and pay all premium only
the insurance policy as on when it becomes due and payable in respect thereof to such
company and shall hand over the policy to the mortgagee duly endorse in his name as
assignee and in the event of the Mortgagors failing to do so or to pay the premium, the
mortgagee will be entitled to insure the said building and structures and / or to pay the
premium there on and the amount paid by the mortgagee in respect thereof will be
deemed to form part of the mortgage amount.
And it is further agreed that in the event of the said land and premises being destroyed or
damaged by fire or any accident as aforesaid, the mortgagee will be entitled to receive the
insurance claim under such policy to the exclusion to the Mortgagors and to appropriate
to the same first towards all arrears of interest and then the principal amount of any part
there of and may be sufficient to pay the mortgage amount due and if any surplus remains
the same only will become payable to Mortgagors.
And it is specifically agreed that the Mortgagors should not sell the schedule property
mortgaged herein to any third party and shall not create any other charge on this property
without obtaining No Objection Certificate of mortgagee.
THE SCHEDULE ABOVE REFERRED TO: (Description of the Immovable

Property)
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All that piece and parcel of property bearing
___________________________________________________________________________
___________________________________________________________________________
________________________________________________________ and bounded as
follows :
On the East by :
West by :
North by :
South by :
The above said property is herein after referred to as the ‘SCHEDULE PROPERTY’.
IN WITNESS WHEREOFF the Mortgagors have signed this deed the day and year first
hereunder written.
WITNESSES:
1. ________________________ MORTGAGOR
2. ________________________ MORTGAGEE
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DEED OF SIMPLE MORTGAGE

(Mortgage without Possession)

THIS DEED OF SIMPLE MORTGAGE is made at _ this _ day of

Mr._____, PAN No: S/o., residing at

M/s CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LIMITED

THE SCHEDULE ABOVE REFERRED TO: (Description of the Immovable

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