DEED OF SIMPLE MORTGAGE
THIS DEED OF SIMPLE MORTGAGE is made at GULBARGA this ______ day of ____________ 2024,
between Mr. SIDDAYYA S/O HANAMAYYA GUTTEDAR Aged 32 about Major
CHINCHANSOOR ALAND CHINCHANSUR KALABURGI KARNATAKA-585104 herein referred
to as the “Mortgagor” of the one part And DCB BANK LTD,represented by Relationship
Manager, Mr. Anilkumar Malsa (Employee No.45246 Aadhar No. 249786798209) having
Branch office at PLOT NO 5 , SEDAM ROAD KUSNOOR VILLAGE ,TALUKA & DIST GULBARGA
-585106. hereinafter referred to as the “Mortgagee” of the other part;
1.The mortgagor is the absolutely seized and possessed of or otherwise well and sufficiently
entitled to All that Part and parcel of the Property situated within HOUSE PROPERTY
HAVING PID NO.151500202400120063, HAVING G.P.NO. 4-184,, SITUATED AT
CHINCHANSOOR VILLAGE DIST. KALABURGI, Kalaburagi, Karnataka- 585104, .
and more particularly described in the schedule hereunder written;
2.The Mortgagors are being in need of money to enable him to pay off certain existing debts
and liabilities requested the Mortgagee to lend him a sum of Rs.8,50,000/- (Rupees EIGHT
LAKH FIFTY THOUSAND ONLY ) including Insurance 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.8,50,000/- (Rupees EIGHT LAKH FIFTY THOUSAND ONLY )including
Insurance lent and advanced by the Mortgagee to the Mortgagors on the execution of these
presents (receipt whereof the mortgagors Both hereby admit) they, the Mortgagor, hereby
covenants with the Mortgagee that they will pay to the mortgagee the said sum of
Rs.8,50,000/- (Rupees EIGHT LAKH FIFTY THOUSAND ONLY ) including Insurance
(hereinafter referred to as the ‘due date’) with interest thereon in the meanwhile and until
repayment of the said sum in full, at the rate of 19% per Annam, every month, the first
installment of interest to be paid on the 4 th AUG 2024 and each subsequent installment on the
4th day of Rs. 15,867/- (FIFTEEN THOUSAND EIGHT HUNDRED SIXTY SEVEN ONLY) each
succeeding month until the said principal sum of Rs.8,50,000/- (Rupees EIGHT LAKH
FIFTY THOUSAND ONLY ) is repaid in full, AND the mortgagors further covenants with the
Mortgagee that in the event of the mortgagor failing to pay any monthly installment of
interest, they will be liable to pay interest on the said installment in default at the same rate
as aforesaid from the date of default until payment of such installment as and by way of
compound interest, without prejudice to the right to the mortgagee to take any action on
default as herein after provided, AND it is agreed and declared that in the event of the
mortgagors committing default in payment of any two installments of interest or in payment
of the principal and interest on the due date 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 expired.
AND THIS DEED FURTHER WITNESSETH that the mortgagors doth hereby transfer by way
of mortgage his said land All that Part and parcel of the Property situated within HOUSE
PROPERTY HAVING PID NO.151500202400120063, HAVING G.P.NO. 4-184,,
SITUATED AT CHINCHANSOOR VILLAGE DIST. KALABURGI, Kalaburagi,
Karnataka- 585104, .and described in the schedule here under written as a security for
repayment of the said sum with interest and all other moneys due and payable here under
with a condition that on the mortgagors repaying the said principle sum of Rs.8,50,000/-
(Rupees EIGHT LAKH FIFTY THOUSAND 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 security and shall if so required by the
mortgagors execute a deed of release 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 will become entitled to take
possession and have the said land and premises sold and to realize and receive the said
mortgage amount out of the net sale proceeds of the said land and premises.
And it is further agreed and declared by the mortgagors that they 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 pend ency of the security hereby created and until
repayment of the mortgage amount the mortgagor 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 in the some of at least Rs---------/- Which sum insurance company of
repute and pay all premium only the insurance policy as on when it becomes due and
payable in respect there of to such company and shall hand over the policy to the mortgagee
duly endorse in his name as assigners 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 there
of 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 mortgagor.
And it is specifically agreed that the mortgagor should not sell the schedule property
mortgaged herein to any third party and shall not create any other charge on this property.
In case of default mortgage is at liability to proceed to sell the schedule property by Auction
& recover entire mortgage amount with interest and expenses incurred to recover.
The Agreement shall be the part and parcel of this mortgage deed.
THE SCHEDULE ABOVE REFERRED TO:
All that Part and parcel of the Property situated within HOUSE PROPERTY HAVING PID
NO.151500202400120063, HAVING G.P.NO. 4-184,, SITUATED AT CHINCHANSOOR
VILLAGE DIST. KALABURGI, Kalaburagi, Karnataka- 585104, and bounded by:
East : ROAD
West : 3 FT LANE THEN LAND OF VISHWANATH S/O TUKARAM CHAMBAR
North : 3 FT LANE THEN PLOT OF ASHOK S/O HANAMAYYA
South : 3 FT LANE THEN LAND OF VISHWANATH S/O TUKARAM CHAMBAR
SCHEDULE ‘B
The list of original title deed and documents pertaining to SCHEDULE PROPERTY deposited with the
MORTGAGEE for creating equitable mortgage are as follows .
S. No. Date Particulars of Document Original / Photocopy
1 07.07.2015 Original Sale Deed Dated. 07.07.2015 Original
2 2015-16 Original Form No.11 Original
3 26.06.2024 Original Regd. Gift Deed No.1570/24-25 Dated.26.06.2024 Original
4 26.07.2024 Original Tax Paid Receipt Dated 26.07.2024 Original
5 30.05.2024 Original Computerized Form No.11(B) Dated.30.05.2024 Original
6 24.07.2024 Encumbrance Certificate No.103543/24-25 Dated.24.07.2024 Original
IN WITNESS WHEREOFF the Mortgagor/s and Mortgagee have signed this deed the day and
year first here under written.
MORTGAGOR DCB BANK LTD
Mr. SIDDAYYA S/O HANAMAYYA GUTTEDAR Mortgagee
WITNESSES:
1.
2.
