MORTGAGE DEED

This indenture of Mortgage- Deed made and executed at

Hingoli as a security and Collateral Security for M/s. Shivam Trading
Company, Sirsam Bu. Tq. & Dist. Hingoli. Prop. Sow. Sunita Laxman
Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli ( Borrower) For her above name
Business and Property of borrower are agricultural land in Land Gat No. 302
area admeasuring 0 H 60 R & agriculture Land Gat No. 303 area
admeasuring 1 H 55 R.
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And agriculture Land Gat No. 304 area admeasuring 0 H 73 R all
lands Situated at Hirdi, Tq. & Dist. Hingoli. And another property of
Guarantor Dr. Laxman Sakharamji Pathade is constructed residential house
Which G. P. House No. 394 situated at Sirsam Bu., Tq. & Dist. Hingoli for
Rs. 10,00,000/- As a Cash Credit Hypothecation Loan On this 14th day of
September 2010.
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BETWEEN
SANT NAMDEO NAGRI SAHAKARI PATHSANSTHA LTD, HINGOLI
BRANCH HINGOLI a registered co-operative society, under the
Maharashtra Co-operative Societies Act-1960 & having its registered office
situated at Hingoli through its Kanhergaon Naka Branch through its Branch
Manager of Kanhergaon Naka (hereinafter referred to as “ THE
PATHSANSTHA” (Mortgagee) which expression shall unless repugnant to
the Context or Meaning there of Means & include its assigns & Successors)
IN OFFICE OF ONE PART.
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AND
1) Sow. Sunita w/o Laxmanrao Pathade, Age - 30 years,
Occupation - Business & Agril R/o. Sirsam Bu,Tq. & Dist. Hingoli who stood
as ‘Borrower’ to the said loan limits
2) Dr. Laxman S/o Sakharamji Pathade, Age - 36 years,
Occupation – Medical Practitioner, R/o. Sirsam Bu,Tq. & Dist. Hingoli who
stood as ‘Guarantor’ to the said loan.
Both (hereinafter referred to as “MORTGAGORS” which
expression shall includes their heirs, Legal representatives, Successors,
Administrators, Assigns etc, wherever the context or meaning shall be so
required or permit) Both Party of other Part.
WHEREAS The Mortgagor are resident of Sirsam Bu Tq.
Hingoli and relation their between Husband and wife stood as Guarantors for
said loan limits of M/s. Shivam Trading Company, Sirsam Bu. Tq. & Dist.
Hingoli. Prop. Sow. Sunita Laxman Pathade, R/o.Sirsam Bu. Tq. & Dist.
Hingoli ( Borrower)
 Whereas Mortgagor stood as guarantor for said loan limit and
given as Security & collateral security as their property i.e. personal
properties (details are given in Description Of Mortgaged Property) for said
loan limits as a cash credit Hypothecation loan of borrower Rs. 10,00,000/-
and offered the above said property of mortgagor as security & Collateral
security.
Whereas in relation between Guarantor is Husband of Borrower
and ready to given his property as collateral security for the loan limits of
Borrower and borrower has given her property for the said loan as security.
And Whereas Borrower M/s. Shivam Trading Company, Sirsam
Bu. Tq. & Dist. Hingoli. Prop. Sow. Sunita Laxman Pathade, R/o.Sirsam Bu.
Tq. & Dist. Hingoli has given application to the Pathsanstha for the Said loan
Limits of Rs. 10,00,000/- for her business and as per her application the
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Pathsanstha considered the Loan Proposal of M/s. Shivam Trading
Company, Sirsam Bu. Tq. & Dist. Hingoli. Prop. Sow. Sunita Laxman
Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli ( Borrower) & sanctioned the
cash credit Hypothecation Loan to the tune of Rs. 10,00,000/- on the
following Terms & conditions in order to avail said loan of Rs. 10,00,000/-
Sow. Sunita Laxman Pathade, R/o. Sirsam Bu. Tq. Hingoli
(Borrower) who is borrower to this limits (Loan) is to execute and Mortgagor
Dr. Laxman Sakharamji Pathade who is Guarantor to the said limits (Loan)
Execute a Registered Mortgage deed of the above said properties in favor of
the Pathsanstha as a security and collateral security for M/s. Shivam Trading
Company, Sirsam Bu. Tq. & Dist. Hingoli. Prop. Sow. Sunita Laxman
Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli ( Borrower) & this security &
collateral security will remain in force till the clearing of total dues, which are
mentioned above & her renewal at any time.
 Sow. Sunita Laxman Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli
( Borrower) shall pay interest at the rate of 15% per annum or at such rate
as the Pathsanstha may stipulate from time to time.
Sow. Sunita Laxman Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli
( Borrower) will have to repay the entire amount of loan of Rs.10,00,000/-as
per sanction or as per rules & conditions of Pathsanstha & to execute all
necessary documents as per practice & procedure of the Pathsanstha in
favor of the Pathsanstha.
All the goods, like items, materials and other goods and other
furniture and other items which are mentioned in the quotation etc. in the
premises of M/s. Shivam Trading Company, Sirsam Bu. Tq. Hingoli. Prop.
Sow. Sunita Laxman Pathade, R/o. Sirsam Bu. Tq. & Dist. Hingoli
(Borrower) hypothecated along with the Pathsanstha and Mortgagor has
executed the other necessary documents as per Practice and procedure of
the Pathsanstha in favor of Pathsanstha.
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Mortgagor has executed hypothecation deed in the Pathsanstha
and this hypothecation deed is part and parcel of this Mortgage deed.
And Borrower M/s. Shivam Trading Company, Sirsam Bu. Tq. &
Dist. Hingoli. Prop. Sow. Sunita Laxman Pathade, R/o.Sirsam Bu. Tq. & Dist.
Hingoli (Borrower) accepted all these terms and conditions of the
Pathsanstha & agreed to take loan from the Pathsanstha.
And the Pathsanstha has authorized it’s Manager of Kanhergaon
Naka Branch to get and execute all necessary documents in favor of the
Pathsanstha and disburse the loan of Rs.10,00,000/- ( In words Rs. Ten
Lack Rupees Only) as per other Terms & conditions as per Limit sanctioned
Letter.
Details of consideration
 The Manger of Kanhergaon Naka will disburse the loan Rs.
10,00,000/-( In words Rs. Ten Lack Rupees Only) as per the terms and
conditions of the loan & as per limit sanction letter.
NOW THIS INDENTURE WITNESSETH AN IT IS HEREBY
AGREED BY & THE PARTIES HERETO AS FOLLOWS.
In consideration of the Pathsanstha’s sanctioning loan to M/s.
Shivam Trading Company, Sirsam Bu. Tq. & Dist. Hingoli. Prop. Sow. Sunita
Laxman Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli ( Borrower) a cash
credit Hypothecation Loan limits loan to the extent of Rs.10,00,000/-The
borrower is responsible to the said loan amount and the mortgagor are
hereby Mortgaging their personal properties i.e. Property of borrower are
agricultural land in Land Gat No. 302 area admeasuring 0 H 60 R &
agriculture Land Gat No. 303 area admeasuring 1 H 55 R.
And agriculture Land Gat No. 304 area admeasuring 0 H 73 R all
lands Situated at Hirdi, Tq. & Dist. Hingoli. And another property of
Guarantor Dr. Laxman Sakharamji Pathade is constructed residential house
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Which G. P. House No. 394 situated at Sirsam Bu., Tq. & Dist. Hingoli With
all things attached to earth and all their rights of easement, light, air, etc. in
favor of the Pathsanstha as a Security & collateral security for the repayment
of the said cash credit Hypothecation limit (Loan) Of Rs. 10,00,000/-.
DESCRIPTION OF MORTGAGED PROPERTY
(Property of Mortgagor Sow. Sunita Laxmanrao Pathade)
1. All the peace and Parcel of Agriculture land in Gat No. 302 total area
admeasuring 6 Hector 47 R, Total assessments Rs. 11.03 and from this
area total share Mortgagor area admeasuring 0 H 60 R, situated at Hirdi,
Tq. & Dist. Hingoli. Its four boundaries are as under-
East :- Land of Yaswanta Sakharam Jadhav
West :- Land of Laxman Thorat
South :- Land of Gajanan Pandit Thorat & Land of Mortgagor,
North :- Land of Yashwanta Sakharam Jadhav
(Owned and Possessed by Mortgagor Sow. Sunita Laxman Pathade
by registered sale deed No. 2003/2008 Dated 02/06/2008 and Record)
2. All the peace and Parcel of Agriculture land in Gat No. 303 total area
admeasuring 4 Hector 12 R, Total assessments Rs. 5.53 and from this area
total share Mortgagor area admeasuring 1 H 55 R, situated at Hirdi, Tq. &
Dist. Hingoli. Its four boundaries in two Part as under-
Four Boundaries of Land area O H 50 R
East :- Land of Kewalabai Parasram Thorat
West :- Land of Raghunath Parasram Thorat
South :- Land of Keshav Taterao Thorat,
North :- Land of Bhikaji Dagduji Landge
Four Boundaries of Land area 1 H 05 R
East :- Land of Pandit Kashiram Thorat
West :- Land of Kewalabai Parasram Thorat
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South :- Land of Sarang Parasram Thorat

North :- Land of Janardhan Raybhan Shinde
(Owned and Possessed by Mortgagor Sow. Sunita Laxman Pathade
by registered sale deed No. 1421/2008 Dated 23/04/2008 and Record)
3. All the peace and Parcel of Agriculture land in Gat No. 304 total area
admeasuring 3 Hector 17 R, Total assessments Rs. 4.40 and from this area
total share Mortgagor area admeasuring 0 H 73 R, situated at Hirdi, Tq. &
Dist. Hingoli. Its four boundaries are as under-
East :- Land of Raghunath & Sarang Parasram Thorat
West :- Government Road
South :- Land of Tukaram Sakharam Thorat,
North :- Land of Bhikaji Dagduji Landge
(Owned and Possessed by Mortgagor Sow. Sunita Laxman Pathade
by registered sale deed No. 1421/2008 Dated 23/04/2008 and Record)
(Property of Mortgagor Dr. Laxman Sakharamji Pathade)
4. All the peace & Parcel of Residential House which G.P. House No.
394 area in Length East West 45.00 Feet & Width South-North 15.00 Feet
Total area admeasuring 675.00 Sq. Feet with constructed House with its all
future rights situated at Sirsam Bu., Tq. & Dist. Hingoli. Its four boundaries
are as under-
East :- Government Road,
West :- Government Road,
South :- House of Jayashri Maroti Lothe
North :- House of Shantabai Bansilal Mundada,
(Owned and Possessed by Mortgagor Dr. Laxman Sakharam Pathade
by registered sale deed No. 4503/2001 Dated 11/12/2001 and Record)
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INTEREST
The Principal amount of Rs.10,00,000/- will carry interest at the
rate of 15% per annumn from the date of disbursement of loan. The interest
shall be charged as per the practice and procedure of the Pathsanstha
sundry expenses and other cost, if any may be debited to the said loan
account of M/s. Shivam Trading Company, Sirsam Bu. Tq. & Dist. Hingoli.
Prop. Sow. Sunita Laxman Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli
( Borrower)
And Borrower hereby agrees that she will pay these amounts of
interest, sundry expenses and other cost so debited in the loan account of
himself as per rules & conditions of the Pathsanstha. The Mortgagors hereby
agrees and declares that if borrower M/s. Shivam Trading Company, Sirsam
Bu. Tq. & Dist. Hingoli. Prop. Sow. Sunita Laxman Pathade, R/o.Sirsam Bu.
Tq. & Dist. Hingoli ( Borrower) to Pay these amount of interest, sundry
expenses and other cost, if any, due remains in this circumstances
Pathsanstha is at liberty to seize and sell the Mortgage Property of the
Mortgagors and will recover dues.
The account maintained by the Pathsanstha will be acceptable by
the Borrower accept the amount of interest, sundry expenses and cost of
Borrower will be an additional charge on the mortgage Property. And accept
by the mortgagors.
REPAYMENT
M/s. Shivam Trading Company, Sirsam Bu. Tq. & Dist. Hingoli.
Prop. Sow. Sunita Laxman Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli
( Borrower) agrees to repay principal amount of loan of Rs.10,00,000/-
inclusive of interest etc, within period of Three Year i.e. 36 Months on the
renewal basis and borrower has agree to she had renewal the said account
within entire of Three Year and such Mortgagor further agrees That, this
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mortgage deed and their security and collateral security will continuing on
the period of renewal in the Pathsanstha and borrower has repay the entire
loan amount as per sanctioned or as per rules and conditions of
Pathsanstha.
The Mortgagor further agrees that in case she fails to repay the
Cash Credit Hypothecation Limit (Loan) amount in that event Pathsanstha is
an will be at liberty to seize and sell of the property of the Mortgagors which
was hypothecated along with the Pathsanstha, then if any dues remains
then the Pathsanstha liberty to seize and sell Mortgage Property of
Mortgagors and will recover all it dues i.e. due amount then out standing.
And the Mortgaged Property should be appropriated by the Pathsanstha for
the repayment of the amount of loan from the Borrower.
 The Mortgagors further agrees that if the sale proceeds are
found insufficient or inadequate to satisfy remaining balance will be
recovered personally from the mortgagors from their other personal
properties & same is binding on Borrower. In case of death or insanity of the
mortgagors their legal representatives, successors & assigns will repay the
due from the borrower and they will be held responsible for the repayment of
due amount of loan.
The Borrower hereby agree that the Pathsanstha will have a
liberty to increase the rate of interest without any prior notice to them & they
from time to time doth agree to pay the interest inclusive of such increase.
The Mortgagors further agree to keep the mortgaged property as a security
and for the Pathsanstha loan of Borrower loan amount of Rs.10,00,000/.
The Mortgagors hereby promise and declares that the property
mortgaged by these present are free from all encumbrances & are not
transferred gifted, mortgaged, charged, alienated, or sold to any person by
any written or oral agreement. The Mortgagors further promise that if any of
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the above declarations is proved to be false & if loss is caused to the
Pathsanstha, thereby the Pathsanstha is entitled to be re- embursed from all
losses caused from the Mortgagors in such circumstances, all other
remedies are open to the Pathsanstha. If any time any loan or any charge on
the mortgaged property of Mortgagors then Pathsanstha have to liberty to
paid all the charges behalf of mortgagors and said charges amount should
be debited in the loan account of borrower & same may be accepted by
borrower. If any circumstances borrower has not paid the said charges then
Pathsanstha have liberty to seized mortgaged property of mortgagors and
sale same property under Maharashtra Co-operative societies Act and other
concern act as per applicable & Pathsanstha think so fit as per rules and
regulations of the Pathsanstha and recover the loan amount of borrower &
other extra paid amount by Pathsanstha for other charged on the mortgaged
property.
The Mortgagor further declares that they had a clear marketable
title of the mortgaged property therein, and the property mortgaged is not a
subject of any suit before any court or tribunals or before any public or
private officer and if any such suit is instituted or proceedings stands on
some future date, then the mortgagors will do all lawful acts and
requirements and will insure about their clear and marketable title to the
Pathsanstha. And for this purpose, Pathsanstha shall be authorized and
entitled to file or defended any suit or proceedings and all charges costs,
fees, expenses, paid by the Pathsanstha to any attorney or professional
Lawyer shall be debited to the loan A/c of Borrower and the Borrower will
re-emburse all her amounts to the Pathsanstha.
The mortgagors further agrees and declares that in case the
mortgaged property to be constructed there on or any part thereof at any
time is required by the central or state Government for any public purposes
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and the compensations and appropriate the said amount in the loan account
of M/s. Shivam Trading Company, Sirsam Bu. Tq. Hingoli. Prop. Sow. Sunita
Laxman Pathade, R/o. Sirsam Bu. Tq. Hingoli ( Borrower) and mortgagors
when will not be withdrawn without the consent of the Pathsanstha.
The Mortgagors specifically agrees that, they will allow and permit
any of the Pathsanstha employees who are duly authorized to enter into the
premises of the mortgaged property at any time.
The Mortgagors further agrees that in case the Pathsanstha
thinks if necessary to appoint watchman for preserving the mortgaged
property, the it shall be lawful for the Pathsanstha & the Pathsanstha is
hereby authorized to appoint watchman at the cost of Mortgagors and said
cost will debited in the loan account of Borrower.
 The Mortgagors further agrees that in case M/s. Shivam Trading
Company, Sirsam Bu. Tq. & Dist. Hingoli. Prop. Sow. Sunita Laxman
Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli ( Borrower) Fails to repay loan
amount in that event Pathsanstha is & will be at liberty at liberty to sell the
Mortgaged Property & will recover all dues, i.e. loan amount then
outstanding & the mortgagors further agrees that all sale proceeds of the
mortgaged property should be appropriated by the Pathsanstha for the
repayment of due amount of loan from the Borrower.
The Mortgagors further agree that if the sale proceeds are founds
insufficient or inadequate to satisfy the entire amount of loan, expenses &
costs, then in such circumstances the remaining balance will be recovered
personally from the mortgagors & from their other personal properties. In
case of death or insanity of the Mortgagors/Borrower their legal
representative, successors and assigns will be repay the due amount of loan
due from the borrower & they will be held responsible for the repayment of
the amount of loan.
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IT IS HEREBY AGREED AND DECLARES BY THE
MORTGAOGRS, that they had so far paid all present & past taxes, charges
etc. of the mortgaged property & shall pay the same and when they fall due,
and hand over the receipts thereof, to the Pathsanstha in proof thereof
incase the mortgagors fails to pay these taxes, charges etc. then in these
circumstances it shall be lawful thorough not obligatory for the Pathsanstha
to pay these amount of taxes, charges on behalf of the above, mentioned
rates.
The Mortgagors shall accept this liability of taxes etc. and interest
charges thereon without any grudge hesitation & the burden of these
expenses shall rest on the Mortgaged Property.
 IT IS HEREBY AGREESD & DECLARES BY THE
MORTGAGORS THAT they will keep the mortgaged property etc, fully
insured from probable loss or damage by fire, earthquake, lightning,
explosion, devil commissions, riots, floods etc. as may be required and
determined by the Pathsanstha from time to time, against their full value
with the insurance company of choice of the Pathsanstha.
The Borrower agreed to pay the amount of insurance Premium,
then the Pathsanstha is hereby authorized to pay the amount of insurance
premium and it shall be lawful for the Pathsanstha to pay the amount of
insurance premium on behalf of the borrower and may debit the same in the
loan account of the borrower and may charge interest at the above
mentioned rates. The Mortgagors agree to bear this liability without any
objection. The amount of insurance premium and interest thereon will be
additional charge of mortgaged property, which was accepted by Mortgagors
The mortgagor hereby authorized the Pathsanstha to receive the
amount of claims from the insurance company as and when they fall due all
appropriate the amount of claims towards the repayment.
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The Mortgagors further agree to keep the mortgaged property in
good condition and will not do any act or commission or excision which will
endanger the mortgaged property. The Mortgagors further agree that, if any
extra development, construction, use for commercial or industrial is made on
the mortgaged properties hereinafter then the Pathsanstha will have charge
on the said extra development and extra activities. The Mortgagor shall keep
mortgaged property in good condition, if in case, if the Pathsanstha inform
the Mortgagors to carry out necessary repairs then the Mortgagors will carry
out necessary repairs, mentioned by the Pathsanstha, then it shall be lawful
though not obligatory for the Pathsanstha to get the repairs done at the cost
of the borrower the Pathsanstha will charge and debit these charges of
repairs in loan account of the borrower and it shall carry interest at the rate
herein before agreed and these charges and interest thereon shall constitute
an additional charge on the mortgaged property.
THE MORTGAGORS FURTHER PROMISE AND DECLARES
That, the provision of sec. 67 (A) of the Transfer of Property Act 1882 are
not applicable ton the transactions entered into between the borrower and
the Pathsanstha on different dates on the security of the property and in the
case of borrower fail to repay the loan taken by these, under this deed or
any other further deeds, if shall be at the discretion of the Pathsanstha
whether to proceed against the Mortgagors and Borrower by single suit for
the recovery of all different loan transactions or to proceed separately for
each transaction.
Any Notice required to the served on the Mortgagors and
borrower shall for the presents be deemed to e served, if it is sent by
registered. AD post addressed to the Mortgagors/borrower on the address
herein above written or it is left at the mortgaged property, or if it is affixed to
any conspicuous part of the mortgaged property, and such service shall be
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deemed to have been made proper though refused by the mortgaged and
borrower. It is further agreed that its is the Mortgagors and Borrower duly to
inform the Pathsanstha and the changes in their addresses.
And if notice on the erstwhile address, then it shall be deemed to
proper that the notice has been duly served on the Mortgagors and
borrower.
The Pathsanstha has sanctioned the said Loan Cash credit
Hypothecation Loan Of Rs.10,00,000/- to M/s. Shivam Trading Company,
Sirsam Bu. Tq. & Dist. Hingoli. Prop. Sow. Sunita Laxman Pathade,
R/o.Sirsam Bu. Tq. & Dist. Hingoli ( Borrower).
 In case valuation of the mortgaged property depreciated in value
below Rs.10,00,000/- then the Mortgagors shall on intimation from the
Pathsanstha to that effect make good the deficiency by paying amount of
difference in the loan account or by offering additional acceptable security to
the Pathsanstha in case the Borrower fail to pay amount of difference or
offer additional security to the Pathsanstha then Pathsanstha may without
waiting for the expiry of stipulation portion of repayment of loan shall
proceed against the mortgaged property of the Mortgagors.
The Mortgagors further declares and promise to the Pathsanstha that
The Pathsanstha will have a charge on the security given by these presents,
up to the limit of the mortgaged deed fir any amounts due to the Pathsanstha
by the M/s. Shivam Trading Company, Sirsam Bu. Tq. & Dist. Hingoli. Prop.
Sow. Sunita Laxman Pathade, R/o.Sirsam Bu. Tq. & Dist. Hingoli
( Borrower) from this transaction or from other loan transactions or renewal
of this loan transactions for time to time.
The Mortgagors further promise and declares that the Pathsanstha will
have a charge on the mortgaged property till the fulfillment of direct and
indirect liability (Guarantee, Agreement, Collateral security etc.) incurred by
the borrower.
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After this completion of Mortgage deed the Mortgagor (Borrower &
Guarantor) has with full Knowledge and belief signed this deed in the token
th
of acceptance in the presence of witnesses on this date 14 day of
September 2010.
Typed By-
Signature of Witnesses Signature of Mortgagor (Borrower)

1)

Sow. Sunita w/o Laxman Pathade

R/o.Sirsam Bu.,Hingoli.
2)
Signature of Mortgagor (Guarantor)

Dr. Laxman Sakharamji Pathade

R/o.Sirsam Bu.,Tq. Hingoli.