SIMPLE MORTGAGE DEED IN THE FORM OF A DEED POLL
I, X…………..son of…………..resident of…………..has borrowed a sum of Rs…………(Rupees …………..) from Y, son of ………….. resident of and I hereby promise to pay Rs……………with interest at the rate of…………..% per annum on hereinafter called the due date.
And as a collateral security and for the consideration aforesaid, I hereby transfer by way of simple mortgage all that property described in the Schedule hereto hereinafter referred to as the said property with the intent that in case default is made in payment of the mortgage money on the due date, the said Y shall be entitled to sell the said property and realise and receive the whole or the balance or any sum payable from me under these presents.
And I, X assure and covenant with Y that I am seized of or otherwise well and sufficiently entitled to the said property and there is no encumbrance or charge thereon.
In witness whereof, the mortgagor has put his hand on this …………….. day of…………..20………
The schedule above referred to
WITNESSES
1 .
2. Mortgagor