By:Noman AhmedKASB 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”