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DR D Y PATIL COLLEGE OF LAW

NAME; SHUBHAM VIJAY RAUT

COURSE; SECOND YEAR LLB, (IV-SEMESTER)

ROLL NO; 82

SUBJECT; D P C II

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INDEX

Sr. No. Page No.

CONTENT

1 Lease Deed 3-6

2 Sale Deed 7-8

3 Notice under sec 138 of Negotiable instrument Act, 9-10

1881
4 Gift Deed 11-12

5 Partnership Deed 13-18

6 Board Resolution 19-20

7 Simple Mortgage 21-23

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LEASE DEED

An agreement made the 31stday of January year 2022 between

Sri. Yogesh Mukund Patil, (herein after called “the Lessor”) of the one part

and

Sri. Ashutosh Shivaji Bhosale, (hereinafter called “the Lessee”) of the other part.

Whereby it is agreed as follows:

1. The Lessor hereby demises to the Lessee all that dwelling house with the land
fully described in the schedule hereto together with all out-houses, pucca
well, motor garage, kitchen, pathways, passage, garden and other
appurtenances thereof, situated at Nerul, Navi Mumbai to hold the same to
the Lessee from 1st day of February Year 2022 for the term of 1 years (or,
year to year) paying therefor during the said term the monthly rent of
Rs.30,000/- (Rupees Thirty thousand only) payable on the first day of the
month succeeding that for which the rent is due;

2. The Lessee hereby agrees that he will during the said term (tenancy) pay all
rates; taxes and other charges excluding the house tax which now are or may
hereafter becomes payable in respect of the demised property;
3. The Lessor hereby agrees as follows :-
(i) That the Lessor shall keep the premises in good and substantial
repairs during the said term and shall annually white-wash and do all
necessary repairs to the out-houses and demised premises and on the
Lessee giving the Lessor notice in writing of any special decays, defects
and want of separation the Lessor will within one calendar month from the
receipt of such notice repair and amend the same;

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(ii) That the Lessor shall repair when necessary, the well, the passages,
pathways and the road connecting the provincial road with the bungalow
hereby demised and shall get the well cleaned at least once a year.

4. Provided always and it is hereby agreed as follows:

(i) That whenever any part of the rent hereby reserved shall be in arrears
For 31 months after due date or there shall be a breach of any of the
covenants by the Lessee herein contain the Lessor may re-enter on the
demised premises and determine this lease.
(ii) The tenancy hereby created shall be determinable at the option of the
Lessor/Lessee (or either party) by giving to Lessee/Lessor (or, the other
party) one calendar months’ notice in writing.

5. It is hereby agreed between the parties that in respect of the demised

premises the parties hereto shall respectively have all the rights and be
subject to all the liabilities of a lessor and of a lessee as set forth in Section
108 of the Transfer
of Property Act, 1882, except Clause (m) thereof which is hereby excluded.

6. It is hereby agreed between the parties as follows:

(i) That any demand for payment or notice requiring to be made upon or
given to the Lessee shall be sufficiently made or given if sent by the
Lessor or his agent through the post by registered letter addressed to the Lessee
at the demised premises and that notice
requiring to be given to the Lessor shall be sufficiently given if sent by the
Lessee through the post by registered letter addressed to the Lessor at
his usual or last known place of residence or business and that any
demand or notice sent by post in either case shall be assumed to have
been delivered in the usual course of pose.
(ii) That wherever such in interpretation would be necessary in order to
give the fullest scope and effect legally possible to any covenant or contract
herein contained the expression “the Lessor” herein before used shall
include the owner for the time being of the Lessor’s interest in the demised

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premises and the expression “the Lessee” herein before used shall include
his heirs, executors, administrators and permitted assigns. In witness
whereof the parties have put their signatures hereunder on the day and the
year first above -written (or, on the respective date mentioned against their
signatures)

SCHEDULE
(Leased under this deed)
All the piece and parcel of immovable property bearing survey No.5/1 of Nerul, Navi
Mumbai, Area adm. 2400Sq. foot Hari Bhakti Bungalow, Plot No.D-801. As per
approved building plan carpet area admeasuring 860sq. foot having MSEDCL
connection bearing consumer number: 4693883477 in Nerul Municipal
Corporation area situated on Datta Mandir Road, Nerul, Navi Mumbai.

Bounded by:-
On the East : Plot D-800
On the West : Plot C-109
On the South : Datta Mandir Road
On the North : Plot D-803
Market value of the property leased under this deed is Rs. 30000/- (Rupees
Thirty Thousand only).
The Stamp duty is paid as per Article 30 of the Schedule to the Karnataka Stamp Act,
1957.

IN WITNESS WHEREOF the parties herein have affixed their respective

signatures to this deed at Nerul on this 31st day of January, 2022 year
in presence of the witness:

WITNESSES: ;
1.RUSHI ASWALE
2.GANESH RAJGURU
1. LESSOR ; yogesh mukundrao patil

2. LESSEE ; ashutosh shivaji bhosale

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Q.2. ‘P’ agreed to sell his property to ‘A’ vide an ‘Agreement to Sell’ dated 8-11-
2020 for a sum of Rs. 2 crores, out of which Rs. 50 lakhs have been paid as earnest
money. The balance amount has to be paid within a period of eight months from
date of ‘Agreement to self’. Draft a Comprehensive ‘Sale Deed’ in this regard.

SALE DEED

THIS Deed of Sale made at Nerul this 2nd day of November, 2020, Between Mr.
NITIN SANTOSH SONAWANE, son of Mr. SANTOSH KACHRU
SONAWANE resident of Flat no. 01, satylaxmi Society, Nerul, Navi Mumbai
400706 (hereinafter called the Vendor) of the ONE PART and Mr. SUNIL
ASHOK DEVEKAR, son of Mr. ASHOK SHANKAR DEVEKAR resident of Flat
no.05, , C-Wing, dev Co-Op Housing Society, Vashi, Navi Mumbai 400703
(hereinafter collectively called the Purchasers) of the OTHER PART.

WHEREAS the Vendor is the absolute owner of the property more particularly
described in the Schedule 1 hereto.

AND WHEREAS the Vendor has agreed to sell to Purchasers the said property in
different portions mentioned against the names of several Purchasers in column
No. 2 of the Schedule 11 hereto and for the prices specified in column No. 3
thereof.

THIS DEED OF SALE WITNESSETH that in pursuance of the said agreement

and in consideration of the total sum of Rs. 20,000,000/- (Two Crore) and the sum
of Rs. 50,00,000 paid by the Purchasers in advance as the earnest money and the
proportion mentioned against their names in Column 3 in the Schedule hereto
before the Sub-Registrar at the time of registration of these presents (the receipt
whereof the Vendor hereby acknowledges) the Vendor as sole and absolute owner
hereby grants, conveys, transfers and sells to the purchasers all that property
described in the Schedule 1 hereto with all lands, structures, other offices and other
buildings attached hereto and all rights, interests, privileges and appurtenances held
or enjoyed with or appurtenant to the same or reputed or known so to be TO
HAVE AND TO HOLD the same unto the Purchasers in portions as specified

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against their names in column 2 of the Schedule 11 hereto and such portions shown
in separate colours on the map hereto annexed.

AND THE VENDOR hereby covenants with the Purchasers that he or his
heirs/legal representatives, executors or assigns will at all-time hereafter at the
request and cost of the Purchasers do and execute all such acts, things and deeds as
may be reasonably required more effectively to transfer and assure the property
hereby conveyed, transferred and sold to the Purchaser.

IN WITNESS WHEREBY the parties have hereunto set and subscribed their
respective hands on the day and year first aforementioned in the presence of:

Schedule 1 above referred to (Description of property to be sold) Schedule 11

above referred to (Name of the purchasers, portions of the property the purchasers
will purchase and the price paid by them)

WITNESSES

1.MAHESH SUBHASH MAHAL

2.JAKIR GANI SHAIKH

Mr.NITIN SANTOSH SONAWANE(vendor)

Signature: - ________________

2. SUNIL ASHOK DEVEKAR

(Purchaser)
Signature: - _________

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Q.3. Draft a Notice under Section 138 of Negotiable Instruments Act, 1881

NOTICE UNDER NEGOTIABLE INSTRUMENTS ACT

REGARDING DISHONOUR CHEQUE

dated 2-2-2021
To,
Name-samat vasant mishra
Address- Royal Tower
Sec-23, G.B Nagar 
Noida- 201301
Mob- 976512553
Sir,
Under the instructions from and on behalf of my client priyansh Gambhir s/o-
shriniwas Gambhir    R/O :-raunak city , flat No. 102 , devdooth Colony,
Ghaziabad U.P 201011. I do hereby serve upon you with the following legal
notice :-
1. That you and my client are having friendly relation with each other since school
time .
2. That in the moth of July to October 2017, you were in great need of Rs. 6,00,000/-
and for which you approach and demanded the same, my client after thoughtful
consideration and having friendly relation with you had paid / given Rs. 6,00,000/-
(Six lakh only) for very short time by different credit card for shopping and
purchase personal goods.
3. That my client approached you time to time for the given said amount
Rs,6,00,000/- but you noticee, always assured my client that I will pay the entire
amount with a stipulated banks and credit cards charges with interest and you
noticee demands some time.
4. That after the 10 months my client has been approached to above said noticee to
return above said amount 6,00,000/- than you noticee demanded some more time
of i.e.: –  9 to 10 moth. After the completion of 9 to 10 month my client again
approach to you, noticee with humble request for the above said amount(different
credit cards principle amount with interest) you,  noticee had assured that my client
that I will  paid 6,00,000/- with interest and other charges and again demanded

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some more time i.e.:-  one and half month. After the complication of one and half
month to you noticee and the noticee had been given Rs, 1,00,000 in cash, and
issued three  checks respectively i.e.: – (i) cheque  no – 688649 dated 20-12-2019
of Rs. 50,000/-, drawn at bank of India branch Delhi Oberoi Hotel, new Delhi – 54.

(ii)cheque No- 688740, Dated on -30-11-2019 of Rs 1,00,000/- , drawn at bank of

India Oberoi Hotel new delhi 54
(iii) Cheque No. 688728 dated on 31-12-2019 of Rs. 6,00,000/ – , drawn on bank
of India , Branch Delhi Oberoi Hotel Delhi 54, in favor of my client. At that time
my client had asked to you about of remaining balance amount Rs. 3,00,000/-, The
noticee again assured my client that I will pay within near future.
5. As per your permission my client presented single cheque no – 688740 amount of
Rs. 1,00,000/- on 16-12-2019 in his banker Kotak Mahindra bank, branch A- 000,
address konark nagar sec-5.– Delhi- 92 to your banker however, to the utter dismay
to my client the above said single cheque dishonored by your banker for the reason
“ Funds Insufficient” vide return memo dated on -18-12-2019.
6. That after this honored the above said cheque – (Cheque no –688649 ), my client
some time approached to you the noticee,  but you have not returned the above said
cheque amount of Rs. 1,00,000/- of my client.
7. That you are required to take a notice of demand under sec. 138 of the negotiable
instrument Act., 1881 and to pay the amount within the period of 15 days from the
receipt of this notice failing which you shall become liable to be prosecuted under
the penal provision of the said section.
It is therefore, call upon you through this notice to pay the cheque of Rs. 1,00,000/
– ( One lakh only), along with counsel fees of 5500/- to my client within a period
of 15 days from the receipt of this notice failing which you shall become liable to
be prosecuted U/S 138 N. I. Act and other penal provision of the IPC.
In the eventuality  of proceeding SC taken up, you will have to  suffer the cost and
consequences thereof. Copy kept for further necessary action .
                                                                                                     (Advocate)

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Q.4. Draft a gift deed for Mr. Sharma Who wants to gift his only son aged 19 years
a property situated in Aligarh.

GIFT DEED

THIS DEED OF GIFT IS MADE BETWEEN:-

 
Sh. ANIKET SOMNATH DEORE s/o Sh. SOMNATH TRIMBAK DEORE
r/o Flat no. 23,A2, Pride tower, M. G .Road,adharwadi, kalyan-
411013(hereinafter referred to as "the donor") 
AND
Sh. DEVANSH ANIKET DEORE s/o Sh ANIKET SOMNATH
DEORE(hereinafter referred to as "the donee") 

WHERE AS 

The donor is the absolute owner and is in possession of the land 8 acres,
(admeasuring 28327.995 Sq. meters.) Aligarh.

The donor and donee are related to each other as father and son.
That out of natural love and affection of the donor for the donee, the donor is
desirous of conveying the said property as gift to the donee. 
That the donor has no other male child and has two daughters only
That the donee has been taking care of the donor in his old age.
That the donor is also living with the donee's family.
That the donor is of sound mind and is not under any intoxication, undue influence,
or coercion while making this gift deed.

NOW THIS GIFT DEED WITNESSES AS FOLLOWS: 

1. In consideration of the natural love and affection of the donor for the donee,
the donor hereby transfers to the donee the said property, the estimated value

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of which is Rs. 50,00,000/- (Rupees fifty lakh only) to the donee to hold the
same to the donee absolutely forever.
2. The donee has accepted this Gift and has taken the physical possession of
the said property.

IN WITNESS WHERE OF, the donor gets and subscribes his signature and deliver
in presence of the witness.

Date:  19- 11-2021                                                                 (Signature of Donor)
Place: Adharwadi kalyan                                                                               

 WITNESS 1: 
Mr. MANOHAR DALVI

At. Adhaewadi,kalyan- 411013

Signature: - ________________

WITNESS 2: 
Mrs. PRANJAL DALVI

At. AdharwadI kayan- 411013.

Signature: - ______________

ACCEPTANCE

Accepted by the said Donee.

Mr. DEVANSH ANIKE DEORE (Donee)

At. Adharwadi , kalyan - 411013.
Signature: - ________________

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Q.5. There are 3 friends ABC, PQR, & XYZ who intend to set up a partnership
firm. Draft a Partnership Deed for the same.

DEED OF PARTNERSHIP

This deed of partnership is made on 21st Day of December 2021 between:

1. Mr, DINESH WAGH Son of Mr. BALIRAM JAGAN WAGH , having
P.A.N AAJPS1027R aged about 45 years, residing at NASHIK, Tal.NASHIK,
Dist. NASHIK, Maharashtra, Pin Code. 411013 hereinafter referred to as
FIRST PARTNER.

2. Mr. SWAPNIL BABASAHEB KATARE, Son of Mr BABASAHEB

NARESH KATARE , P.A.N AAJPS5115R aged about 25 years, residing at
NASHIK, Tal. nashik, Dist. nashik, Maharashtra, Pin Code. 416109 hereinafter
referred to as SECOND PARTNER.

3. Miss. SAKSHI DAYANAND SDAFULE, Daughter of Mr. RAMDAS

DAYARAM SADAFUL, P.A.N AAJPS7530R aged about 21 years, residing at
residing at Pune, Tal. Pune, Dist. Pune, Maharashtra, Pin Code. 41105
hereinafter referred to as THIRD PARTNER.

Whereas, the parties hereto have agreed to commence business in partnership and
it is expedient to have written instrument of partnership. Now this partnership deed
witnesses as follows:

1. BUSINESS ACTIVITY
The parties here to have mutually agreed to carry on the business of the
Partnership is “To carry on in India or abroad the business of buying, selling,

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reselling, exporting and trading whether online or offline of all kinds of goods
finished, semi-finished, raw material items, articles, merchandise, agricultural
products, machinery and any other item capable of purchasing, selling,
importing, exporting and trading and to be appointed as agents and / or
distributors on commission, allowance, retainer ship, incentive basis”.
However, no change may be made in the nature of business of partnership without
the consent of all the partners.

2. PLACE OF BUSINESS
The principal place of the partnership business will be situated at Shop no.03,
Bitwise Tower, at.gangapur Gaon, Tal. nashik, Dist. nashik, Maharashtra, Pin
Code. 411043.

3. DURATION OF PARTNERSHIP
The duration of the partnership will be at will.

4. NAME OF BUSINESS
The name of business shall be carried out in the name and style of SHINE
PARTNERS.

5. CAPITAL OF THE FIRM

Initially the capital of the firm shall be Rs. 80, 00,000 (EIGHTY LAKH).

6. PROFIT SHARING RATIO

The profit or loss of the firm shall be shared equally among all the partners and
transferred to partner’s current account.

7. MANAGEMENT
The Mrs SAKSHI DAYANAND SADAFLE of the firm shall be Managing
Partner and he will look after all the day to day transaction of the firm and any
legal activities in the name of the firm and the remaining partners shall co-
operate to do so.

8. OPERATION OF BANK ACCOUNTS

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The firm shall open a current account in the name of [Partnership Firm Name] at
any bank and such account shall be operated by Mrs. SAKSHI DAYANAND
SADAFULE and Mr. SWAPNIL BABASAHEB KATARE jointly as
declared from time to time to the Banks.

9. BORROWING
The written consent of all Partners will be required for the partnership to avail
credit facilities from any financial institution.

10. ACCOUNTS
The firms shall regularly maintain in the ordinary course of business, true and
correct accounts of all its transactions and also of all its assets and liabilities,
the property books of account, which shall ordinarily be kept at the firm’s place
of business. The accounting year shall be the financial year from 1 st April
onwards and the balance sheet shall be properly audited and the same shall be
signed by all the Partners. Every Partner shall have access to the books and the
right to verify their correctness.

11. RETIREMENT
If any partner shall at anytime during the subsistence of the partnership, be
desirous of retiring from the firm, it shall be competent from his to do so,
provided he shall give at least one calendar month notice of his intention of
doing so. The remaining partner shall pay to the retiring partner or his legal
representatives of the deceased partner, the purchase money of his share in the
assets of the firm.

12. DEATH OF PARTNER

In the event of the death of any partners, one of the legal representatives of the
deceased partner shall become the partner of the firm and in the event the legal
representative show their denial to point the firm, they shall be paid the part of
the part of the purchase amount calculated as on the date of the death of the
partner.

13. ARBITRATION

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Whenever there by any difference of opinion or any dispute between the partners
the partners shall refer the same to an arbitration of one person. The decision of
the arbitration so nominated shall be final and binding on all partners, such
arbitration proceedings shall be governed by Indian Arbitration Act, which is in
force.

In witness whereof, this deed of partnership is signed sealed and delivered this 21ST
Day of December 2021, At. NASHIK, Tal. NASHIK, Dist. NASHIK,
Maharashtra 411043

Sign and delivered by the partners of

Mr. DINESH BALIRAM WAGH
At. nashik, Tal. nashik, Dist. nashik, Maharashtra 411043.
Signature:- ____________________

Mr. SWAPNIL BABSAHEB KATARE

At. nashik, Tal. nashik, Dist. nashik, Maharashtra 411043.
. Signature:- ____________________

Miss. SAKSHI DAYANAND SADAFULE

At. Baner, Tal. Pune, Dist. Pune, Maharashtra 410223.
Signature:- ____________________

WITNESS ONE WITNESS TWO

Miss. Shruti sachin deshmukh Mr. panakaj shivaji
jadhav
At. upnagar, Post. Khargaon, At. Data mandir,
Talnashik, Dist. nashik Tal. nashik, Dist.
nashik
Maharashtra 402109. Maharashtra 402109.
Signature:- _________________ Signature:-
____________________

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Q.6. Draft a Board of Resolution by the Board of Directors for the Approval of
authorizing a personnel of the Company to procure Digital Signature.

BOARD RESOLUTION

SHINE PARTNERS
Shop no.03, novel park, at. Anand nagar , Tal. thane, Dist. thane,
Maharashtra, Pin Code. 410102
Mob No.9593934567

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE

MEETING OF THE
BOARD OF DIRECTORS OF SHINE PARTENERS HELD ON 07-08-
2020
Shop no.03, novel park, at. Anand nagar, Tal. Thane, Dist. thane,
Maharashtra,
Pin code: 411043

RESOLVED THAT the company has decided to authorize, Mrs. SHRUTI

SACHIN DESHMUKH and is hereby authorized to sign and submit all the
necessary papers, letters, forms, etc to be submitted by the company in
connection with “authorizing any of the personnel of the company
(applicant) to procure Digital Certificate”. The acts done and documents
shall be binding on the company, until the same is withdrawn by giving
written notice thereof.

Specimen Signatures of Mrs. SHRUTI SACHIN DESHMUKH

____________________

RESOLVED FURTHER THAT, a copy of the above resolution duly certified

as true by Mrs. SHRUTI SACHIN DESHMUKH designated director/
authorized signatory of the company be furnished to E- SEVA Limited and

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such other parties as may be required from time to time in connection with
the above matter.
For the Organization
Mrs. SHRUTI SACHIN
DESHMUKH
Director/ Authorized
Signatory
Signature: -
_________________________

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Q.7. Draft a Deed of Simple Mortgage between Mortgagor A& Mortgagee B for
mortgaging property ‘x’ towards the debt and liabilities of the Mortgagor.

Simple Mortgage

This Deed of Simple MORTGAGE is made at. Flat no.2,B3, raunak city park
kalan-411038 on 15th day of MARCH 2021 between Mr. RUSHIKESH
SHIVMURTI JANGAM son of SHIVMURTI SHIVSHANKAR JANGAM,
hereinafter referred to as 'the Mortgagor' of the One Part and Mr. MAHESH
SUBHASH MAHALE son of SUBHASH SATISH MAHALE hereinafter
referred to as 'the Mortgagee' of the Other Part;

Whereas the Mortgagor is absolutely seized and possessed of or otherwise well and
sufficiently entitled to the land and premises situated at. Flat no.2, B2, raunak
city park adharwadi kalyan -411038 and more particularly described in the
Schedule hereunder written.

And Whereas the Mortgagor being in need of money to enable him to pay off
certain existing debts and liabilities requested the Mortgagee to lend him a sum of
Rs ...... which the Mortgagee has agreed to do on the Mortgagor executing these
presents with a view to secure the repayment thereof with interest as hereinafter
provided.

NOW THIS DEED WITNESSETH that pursuant to the said agreement and in
consideration of the sum of Rs. 25,00,000/-(Twenty-Five Lakhs Only) lent and
advanced by the Mortgagee to the Mortgagor on the execution of these presents
(receipt whereof the Mortgagor doth hereby admit) he, the Mortgagor, hereby
covenants with the Mortgagee that he will pay to the Mortgagee the said sum of
Rs. 25,00,000/-(Twenty-Five Lakhs Only) on the 01st day of January 2023
(hereinafter referred to as the 'due date') with interest thereon in the meanwhile and
until repayment of the said sum in full, at the rate of 2% per cent. per annum, every
month, the first installment of interest to be paid on the 15 th day of February 2023
and each subsequent installment on the 2ndday of each succeeding month until the
said principal sum of Rs. 25, 00,000/-. is repaid in full, AND the Mortgagor further

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covenants with the Mortgagee that In the event of the Mortgagor failing to pay any
monthly installment of Interest, he will be liable to pay Interest on the said
installment in default at the same rate as aforesaid from the date of default until
payment of such installment as and by way of compound Interest, without
prejudice to the right of the Mortgagee to take any action on default as hereinafter
provided, AND It Is agreed and declared that In the event of the Mortgagor
committing default in payment of any two Installments of interest or in payment of
the principal and interest on the due date or committing breach of any other term of
this Deed, the whole amount of principal then due with interest thereon will at the
option of the Mortgagee become payable forthwith as if the said due date had
expired.

AND THIS DEED FURTHER WITNESSETH that in consideration aforesaid, the

Mortgagor doth hereby transfer by way of mortgage his said land and premises
situated at . Flat no.2,B3,raunak city adharwadi kalyan -411038 and described
in the Schedule hereunder written as a security for repayment of the said sum with
Interest and all other moneys due and payable hereunder with a condition that on
the Mortgagor repaying the said principal sum of Rs. 25,00,000/- with all interest
and other moneys due to the Mortgagee ( hereinafter referred to as the mortgage
amount) the Mortgagee will redeem the said land and premises from the mortgage
security and shall if so required by the mortgagor execute a Deed of Release but at
the costs of the Mortgagor.

And It Is Further Agreed and Declared by the Mortgagor that In the event of the
Mortgagor failing to pay the said principal sum with all interest and other moneys
when the same shall become due and payable under these presents. The Mortgagee
will become entitled to have the said land and premises sold through any
competent Court and to realize and receive the said mortgage amount out of the net
sale proceeds of the said land and premises.

And It Is Further Agreed And Declared by the Mortgagor that he shall also be
liable to pay and shall pay all the costs, charges and expenses that the Mortgagee
will Incur for the protection of the mortgage security and or for the realisation of
the mortgage amount and the same shall be deemed to form part of the mortgage
amount and the security therefore as aforesaid.

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And It Is Further Agreed that during the pendency of the security hereby created
and until repayment of the mortgage amount the Mortgagor will get insured and
keep insured the buildings and structures standing on the said land against loss and
damages due to fire or any other accident In the sum of at least Rs 20,00,000/- with
some Insurance Company of repute and pay all premium on the insurance policy as
and when it becomes due and payable In respect thereof to such company and shall
hand over the policy to the Mortgagee duly endorsed in his name as assignee And
In the event of the Mortgagor failing to do so or to pay the premium, the
Mortgagee will be entitled to Insure the said buildings and structures and/or to pay
the premium thereon and the amount paid by the Mortgagee in respect thereof will
be deemed to form part of the mortgage amount.

And It Is Further Agreed that in the event of the said land and premises being
destroyed or damaged by fire or any accident as aforesaid, the Mortgagee will be
entitled to receive the insurance claim under such policy to the exclusion of the
Mortgagor and to appropriate the same first towards all arrears of interest and then
the principal amount or any part thereof as may be sufficient to pay the mortgage
amount due and if any surplus remains the same only will become payable to
Mortgagor.

IN WITNESS WHEREOF the Mortgagor has put his hand the day and year first
hereunder written.

THE SCHEDULE ABOVE REFERRED TO:

Signed and delivered by the

Mortgagor Mr RUSHIKESH SHIVMURTI JANGAM in the presence of

1. Mr. DIPAK RAMDAS PAWAR ______________________

2. Mrs. SUSHMA DIPAK PAWAR _________________________

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