DEED OF MORTGAGE
For Rs.1,00,000/-
THIS DEED OF MORTGAGE, made at Burewala on this ____ day of September 2011
BETWEEN
Mr.Asghar Ali (C.N.I.C. #36601-1558052-7) S/o Sher Muhammad Caste Gujjar R/O Chak #
170/E.B, Tehsil Burewala, District Vehari (hereinafter called the “MORTGAGOR”, which
expression shall, wherever the context so required or permits, be deemed to include his legal
heirs, assigns, successors-in-interest and persons deriving title from or under it) ……… of the one
part.
ASKARI BANK LIMITED, a Banking Company incorporated under the Companies Ordinance Act
1984 having its Registered Office at AWT Plaza, The Mall, Rawalpindi and place of
business/Branch Office, among other, at 95/1-C College Road Burewala, (hereinafter called
“THE BANK”, which expression shall, wherever the context so require or permits, be deemed to
include its assigns, successor-in-interest and persons deriving title from or under it)………….. of
the other part.
WHEREAS, the MORTGAGOR is seized and possessed of and otherwise lawfully entitled in his
name to all that piece and parcel of Land in shape of Residential House with all its presents
and future fittings, fixtures and constructions thereon bearing Khewat # 67/66 Khatooni # 202
to 204, Qita 47, total measuring 314K-3M, Transferred Share 126/113094, measuring 7M-0S,
according to a copy of register record of right of owner of land for the year 2008-09, situated
at Chak # 439/E.B Burewala City, District Vehari, (hereinafter called “THE SAID PROPERTY”),
more particularly described in the schedule hereto, which was acquired through Sale Deed #
670/1 dated 18.04.92 vide mutation # 9379 dated 27.05.92 registered at the office of Sub-
Registrar/Tehsildar Burewala in favour of MORTGAGOR.
AND WHEREAS, at the request of the MORTGAGORS, the bank has agreed to provide FINANCE
Facility ( Fund Based /Non Fund Based) to 1.M/S “QADRI COMMISSION SHOP” 44/G, Grain
Market Burewala, partnership firm concern of Asghar Ali & Muhammad Yaqoob Sabir 2. Qadri
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Industries Chak # 513/E.B Kamand Road Burewala which is a partnership firm concern of
Asghar Ali, (Amjad Ali nominated to Mr. Asghar Ali through General Attorney), Sikandar Ali,
Wajid Yaqoob ( Muhammad Yaqoob Sabir representative of Wajid Yaqoob), Bagh Ali
(hereinafter also called “THE CUSTOMERS”) in terms of agreement (for finance facilities of Fund
Based/ Non fund based, provided or to be provided from time to time), on the bases of
amongst other securities against mortgage of the said property.
AND WHEREAS, the said investment in the mortgaged property in this case in fund based/non
fund based and stamp duty on this Deed of Mortgage has been affixed in pursuance on
Notification issued by Government of (Finance Department PUNJAB vide # 5190/84/2566-ST-I,
dated 31-12-1984).
NOW THIS DEED OF MORTGAGE WITNESSETH
1. That in consideration aforesaid the MORTGAGOR doth hereby mortgage the said property unto
the bank to hold the same until the payment/repayment of all moneys due under the aforesaid
agreement up to a maximum of Rs. 1,00,000/- markup plus service charges or and all cost
expenses and liquidated charges, if any, payable to incurred by the BANK, in connection with
finance facility (fund based/ non-fund based) granted from time to time including current year
2011.
2. That the MORTGAGOR shall pay/ensure repayment of all sums due and payable to the BANK in
accordance with the agreed terms and conditions of repayment as aforesaid.
3. That the said property is free from all claims, liens, encumbrances and charges of whatsoever
nature and the MORTGAGOR shall not in any allow or permit anything to be done in respect of
the said property so as to make his rights therein liable to be extinguished or in any way
impaired and shall keep the SAID PROPERTY free from all charges and encumbrances of
whatsoever of whatsoever nature.
4. That the MORTGAGOR during the continuance of the mortgage shall keep the said property
adequately insured with an insurance company approved by the bank against damage by fire
and such other risks as the bank may required from time to time incorporating the unusual Bank
mortgage clause and the MORTGAGOR shall pay the permia as and when due and shall pass on
all receipts therefore to the bank. In case the MORTGAGOR fails or omits to pay any such permia
the bank may pay the same on behalf of the MORTGAGOR and the bank shall be entitled to
recover from the MORTGAGOR the amount so spent plus an addition of 20% thereof as
liquidated damages all of which shall stand secured hereunder.
5. That in default of payment of any installment by the MORTGAGOR, the bank, notwithstanding
anything contained herein, shall be entailed to serve 30 days notice upon the
MORTGAGOR/CUSTOMER calling upon him to pay the entire amount then due.
6. That the BANK after giving notice in writing to the MORTGAGOR, shall have the rights to sell the
said property or any part thereof either by public auction or by private treaty, without the
intervention of court including the right to purchase the said property or any part thereof for
itself at such sale on happening of any of the following events: -
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i. If the amount due is not paid/repaid in terms of the said agreement.
ii. If the said property are damaged or diminishes in value so as to impair the security.
7. In the event of default the bank may at its discretion appoint any person as it may deem fit, as
receiver of the said property or any party thereof with power of realize its income and to
discharge there from all rents, taxes, insurance permia and dues whatever payable in respect of
the said property or any part thereof to pay his own commission and costs of necessary repairs
thereto and to expend the balance towards payment of the dues of the bank. The surplus, if any
shall be paid to the MORTGAGOR.
8. That the MORTGAGOR shall allow the bank or its authorized agent’s at all reasonable times to
enter upon the said property or any part thereof and to view and examine the condition
thereof.
9. This mortgage shall be continuing security and shall not be considered as either wholly or
partially satisfied or redeemed by any payment made by the MORTGAGOR and shall be security
for any amount ultimately due to the BANK from the MORTGAGOR or any account whatsoever.
10. The bank may as it deem fit without reference or notice to the MORTGAGOR and without
obtaining his consent at all times without prejudice to this MORTGAGOR liability hereunder
grant time or other indulgence to or accept or make any composition or arrangement with the
MORTGAGOR and also vary/renew/extend the said agreement from time to time.
11. Any Notice to the MORTGAGOR on the addresses given to the bank or as on the title of these
presents shall be deemed to be sufficient and valid for all purpose and shall be deemed to have
been served, if sent by post or left at the address given.
12. on payment of all dues to BANK, the BANK shall at the cost of the MORTGAGOR redeem the said
property free of all obligations arising under this deed.
13. In case this mortgage is used as a continuing security for the purpose of renewal, replacement,
enhancement etc of the Finance Facility, the MORTGAGOR binds its to all the terms and
conditions as well as the rate of mark-up varied by the bank from time to time and incorporated
in the Sanction Advice and the Finance Agreement executed by the time.
14. The terms ‘MORTGAGOR’ ‘CUSTOMER’ and the ‘BANK’ wherever the context so permits shall
always mean and include their respective successor-in-interest and assigns.
15.
SCHEDULE OF PROPERTY:
All that piece and parcel of Land in shape of Residential House with all its
presents and future fittings, fixtures and constructions thereon bearing Khewat # 67/66
Khatooni # 202 to 204, Qita 47, total measuring 314K-3M, Transferred Share
126/113094, measuring 7M-0S, according to a copy of register record of right of owner
of land for the year 2008-09, situated at Chak # 439/E.B Burewala City, District Vehari,
within the of District and Sub-District Burewala and within the jurisdiction of Police Station
Burewala, bounded as under: -
North by : House
South by : House
East by : : Street
West by : House of Muhammad Azeem Patwari
IN WITNESSES WHEREOF the MORTGAGOR above named has signed this deed on the day,
month and year first above written.
________________________ ________________________
(Signature) (Signature)
(MORTGAGOR) For and on behalf of
Asghar Ali Askari Bank. Ltd
(Mortgagee/Manager)
WITNESSES:
Signature _____________________________ Signature:____ ___________________
Name: Asif Shakeel S/O Shakee l Ahmad Name: M. Rafiq S/O Ilam Din
R/O Mujahid Colony, Burewala R/O Marzi Pura Burewala
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