Power of Attorney to
Raise Moneys and Mortgage Property
To All To Whom These
Presents Shall Come I. Mr. ... residing at ... .
Whereas I am the
owner of an immovable property situate at ... and more particularly described
In the Schedule hereunder written.
and Whereas as I am
in need of money for my business I propose to raise a loan of Rs. ... on the
security of a mortgage of the said property.
And Whereas I am,
however, unable to attend to the matters An respect of raising a loan and mortgaging
the said property and 1, therefore, wish to appoint Mr. ... as my true and
lawful attorney or agent to carry out the said transaction and which he has
agreed to do.
NOW KNOW YOU ALL AND
THESE PRESENTS WITNESS that, I Mr
hereby appoint and constitute the said
..... to be my true and lawful attorney or agent with full authority and
power; to do and execute the following acts. deeds and things for me, in my
name and on my behalf viz.
negotiate with any Bank in ... for a loan of Rs. ... on the security of a
mortgage of the said property described in the schedule hereunder written and
on such terms and conditions as to interest payable, period of repayment etc.
as the said attorney shall think proper and in my Interest.
execute, on the loan being sanctioned by the Bank, a promissory note and other
Incidental documents as may be required by the Bank.
receive the amount of the loan and give valid receipt or discharge for the
credit the amount of the loan to my Bank Account with the Bank ... after
deducting therefrom all expenses incurred as herein provided.
create a first mortgage on the said property described in the Schedule
hereunder written In such form as the Bank may require.
case of an equitable mortgage, to deposit the title deeds relating to the said
property with the Bank with intent to create a security on the said property
for repayment of the loan with interest and cost and to execute such writings
or documents evidencing such deposit as the Bank may require.
case of an English Mortgage or simple mortgage to execute a Deed of Mortgage
containing such terms and conditions as the Bank may require and the said
attorney may think proper and usual in respect of the said property.
lodge the document of mortgage for registration In the office of the Sub
Registrar and to admit execution thereof.
pay the stamp duty, registration charges in respect of such document or
documents and to pay the fees of the Banks as well as of the advocate engaged
by the attorney If any.
engage an advocate or solicitor for advice and preparation and approval of the
documents to be executed and for help in investigation for making out a
marketable title to the said property.
apply for and obtain Income Tax Certificate or Certificates under See. 230A of
the Income Tax Act for registration of any document or documents executed by
the said attorney pursuant to these presents if required.
do all other acts and things required to be done incidental to the powers
AND I agree to ratify
all acts and things lawfully done by the said attorney pursuant to the powers
IN WITNESS WHEREOF I,
Mr.... have put my hand this ... day of.
THE SCHEDULE ABOVE,
Signed and delivered
by the withinnamed Mr. in the presence of