Second Mortgage Deed - India by PrestigeLegalDoc

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This deed is entered between the mortgagor and the mortgagee to secure a loan that is subordinate to another loan against the same property.

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									                              SECOND MORTGAGE

This Second Mortgage Deed (“Deed”) is made at ___________, and on this ____ day of _____,
20_______

                                      BETWEEN

Sh./Smt._________________, aged about ______ years, son/wife of ________, resident of
________ (hereinafter referred to as the „Mortgagor‟) of the ONE PART

                                          AND

Sh./Smt. ________________, aged about _______ years, son/wife of ________, resident of
_______ (hereinafter referred to as the „Mortgagee‟) of the SECOND PART.


WHEREAS the Mortgagor herein has entered into a Deed of Mortgage with Mr./Mrs.
______________ (the „Lender‟) on the ________ day of _____________, 20____ (the „Principal
Deed‟).

WHEREAS under the said Principal Deed, the Mortgagor by way of first mortgage has
mortgaged the property described in the Schedule I hereto (the „Property‟) to the Lender for a
Principal sum of Rs. _____ with an interest at the rate of ___ % p.a (hereinafter referred to as the
„First Mortgage‟), subject to redemption of the Property upon payment by the Mortgagor of all
obligations and indebtedness to the Mortgagee.

WHEREAS the said Principal Deed is being registered with the Sub-Registrar of ______ under
No. ____________________ and on the _______ day of _____ 20_____

WHEREAS the Mortgagor is in default of payment of the First Mortgage principal amount and
the interest due and payable to the Lender under the said Principal Deed.

WHEREAS Mortgagor has hereby requested the Mortgagee to lend a sum of Rs. _______ and
subject to the first mortgage mentioned above.

WHEREAS the said Mortgagee has agreed to lend the Mortgagor a sum of Rs. _____at an
interest at the rate of _____ % per annum and having the repayment thereof secured to him by
this second mortgage.


NOW THIS DEED WITNESSETH THAT

1) In pursuance of the aforesaid and in consideration of the loan in the sum of Rs._____ (the
“Principal Sum”) advanced by the Mortgagee to the Mortgagor by way of
___________[cash/cheque details] upon the execution of this Deed, the receipt of which the


Second Mortgage                                                                                1
Mortgagor does hereby acknowledges and confirms, the Mortgagor hereby mortgages the
Property, which is more fully described in the Schedule I, together with all the right, title,
interest, claim a
								
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