By: Noman Ahmed KASB Bank

 Interpretation  Sale & Purchase of asset  Payment of Price  Responsibility of Bank  Prepayment  Customers Presentations & Warranties  Security

 Fees & Charges  Events of Default  Declaration & Rights  Indemnity Clause  Address  Cancellation or Reduction  Termination

 Remedies & Waivers  Provisions regarding Amendments  Further documents  Governing Law  Signatures & Thumb impression  Schedule

 Repayment Schedule  Suggested Paragraph  Prudential Regulation  Prompt payment bonus  Purpose of the mortgaged property  Authority Letter for taking possession of the register document  Intimation letter for equitable mortgage  Date of execution of financing agreement

 As per section 58 (f) of Transfer of Property Act “Where a Person delivers to a creditor or his agent documents of title to immovable property, with intent to create a security thereon, the transaction is called a mortgage by deposit of title of deed”

 Debt  Deposit of Title Deed  Intention to create a security thereon

 Technical Points to be observed ◦ Past tense ◦ Filling of date ◦ Specific property ◦ Property that may come to existence in future ◦ Title deed must connect the customer with property

 Technical Points to be observed ◦ Document deposited must be title deed ◦ Financing agreement date ◦ Signature of customer on every page ◦ Detail of title deed ◦ Witnesses

 What is GPA  Why and when applicable  Legal implications  Financial Charges for GPA  Kinds of GPAs  Importance

 Property governed by an authority ◦ PTM is tantamount  Free hold land ◦ Lien marked fard ◦ Oral gift

 Security  Redemption Deed  Addition to Equitable charge  Mandatory requirement  Search certificate  Must be mandatory

 Letter of intimation to concern Sub-Registrar  Ensure that property is in Ban list

 Application Form  Sanction Letter  Financing Agreement  MODTD  Undertaking for completion of Post transaction Formalities (if any)

 Intimation letter regarding Equitable Mortgage to the concerned Sub Registrar  Lien Marking in Record of rights (Specifically in Revenue Record properties)  Token Registered Mortgaged  Authorization to take possession of the Registered Document in case of Purchase of Property.

“Repayment schedule; means the Repayment Schedule attached hereto as Schedule II, as amended and/ or replaced, from time to time, in accordance with the terms hereof depending upon the ____ prompt payment bonus and ____ Months KIBOR-ASK side (Base Rate) plus ___ Basis point without prompt payment bonus. Upon such revision, the purchase price mentioned in clause ___ above, shall be deemed to have been correspondingly increased or decreased or and the Re-payment Schedule annexed hereto as Schedule II shall also be amended and replaced by the Bank”