MORTGAGE DEED
FACTS:
Mr. Aakash wanted to take a loan of Rs. 6,00,000 from Mr. Vinayak by keeping security of his property to the Vinayak as Mortgage and received the loan amount on 30th April, 2023.
DRAFT A MORTGAGE DEED
This deed of mortgage dated this, 15.04.2023 executed by Aakash, Son-in-law of Neeraj, aged 32 years residing at Alkapuri Garden, D.No. 31-23-11,Ahmedabad (hereinafter called the mortgage) of the one part and in favour of Vinayak.
The Mortgagor has borrowed a sum of Rs. 6,00,000 (Rupees six lakhs only). This day from the mortgagor agreeing to repay the same with interest at 24% per annum to the mortgage or his order on demand.
The mortgage hereby offers the house property more fully described in the schedule hereunder as security for the due repayment of the loan.
In the event of the mortgage failing to repay the loan as agreed upon, the mortgage shall be at liberty to bring the schedule mentioned property to same, by filing a suit foreclosing the mortgage and appropriate the same proceeds towards the belt.
SCHEDULE
Ahmedabad City Sub Register, Roya Sena, Shastri Bridge circle H.No. 31-23-11, Alkapuri Garden, East to West 80 feet North to South 70 feet.
Total Extent : 2,800 square feet
East : House of Lalitha
North : Main Road West : Mess
South : House of Aakshi
Witness
1.XXXX (Saurabh J)
2. XXXX (Chandan K)
XXXXX
Mortgagor