MEMORANDUM OF DEPOSIT OF TITLE DEEDS
This Agreement of Deposit of Title deeds executed at this 21th
day of November, 2024.
BY
Mr.R.KUPPUSAMY (Aadhaar No : 6889 2361 3571, PAN :
FYEPK9686R) S/o Mr.RANGANATHAN, aged about 57 years,
residing at No.64, M.G.R.Street, Gandhi Nagar, Avadi, Chennai-
600054, hereinafter called the “Party of the First Part” which
term shall mean and include wherever the context so requires or
admits themselves, their heirs, legal representatives, administrators,
successors, executors and assigns of the other Part ;
IN FAVOUR OF
M/s L.I.C HOUSING FINANCE LIMITED, a company
incorporated under the companies act 1956 and having its Area
office No.10/1A, Abdul Razack First Street, Saidapet, Chennai-600
015, herein after called the “Party of the Second Part” which term
shall mean and include wherever the context so requires or admits,
their heirs, legal representatives, administrators, successors,
executors and assigns of the other Part;
Whereas the party of the first part herein availed a loan of
Rs.19,22,000/- (Rupees Ninteen Lakhs Twenty Two
Thousands Only) from the party of the second part in respect of
the property more fully described in the Schedule “B hereunder.
Whereas the party of the first part have agreed that the
repayment of the said loan of Rs.19,22,000/- (Rupees Ninteen
Lakhs Twenty Two Thousands Only) shall be secured by deposit
of title deeds in respect of immoveable property morefully described
in the Schedule A here under belongs to them as Security.
..2..
NOW THIS MEMORANDUM OF DEPOSIT OF TITLE DEEDS
WITNESETH
That in consideration of the sum of Rs.19,22,000/- (Rupees
Ninteen Lakhs Twenty Two Thousands Only) from received/to
be received by the party of the first part from the party of the second
part and as security for the payment of the said sum of
Rs.19,22,000/- (Rupees Ninteen Lakhs Twenty Two
Thousands Only) together with interest and other monies thereon
that may become due and payable, the party of the first part
deposited with LICHFL, the party of the second part the title Deeds
more fully described in Schedule A relating to his property more fully
described in the Schedule B hereunder as Collateral security with an
intent to create an equitable mortgage by deposit of title deeds of
the said property secure the loan of Rs.19,22,000/- (Rupees
Ninteen Lakhs Twenty Two Thousands Only) From due and
owing by the party of the first part including interest, penal interest,
commitment charge, cost, charges and other monies that may
become due and payable from time to time by him LICHFL.
The party of the first part hereby covenant that the said
property is not subject to any mortgage, lien charge or any other
kind of encumbrance whatsoever and that he is the absolute owners
of the same and is well and truly seized of the property.
The party of the first part agree to keep party of the second
part indemnified against all claims and demands whatsoever by any
person lawfully or equitable claiming under them by any other
person whatsoever.
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Schedule “A”
(List of documents deposited)
1. Original Sale Deed Executed by Mrs.M.KOWSALYA to in favour
of Mr.R.KUPPUSAMY, Doc No.5588/1996. Dated:19.12.1996
SCHEDULE OF THE PROPERTY
All that piece and parcel of the Land with Building, bearing Plot
Comprised in Survey No.182/2F, T.S.No.13/2, Block No.10,
Ward-G, Measuring with an extent of 872 Sq.ft situated at No.24,
Vilinjiyambakkam Village, Avadi Taluk, Thiruvallur District, with in
the Registration District of Tiruvallur, Sub Registration of Avadi and
Bounded as Follows :
Bounded:-
North by : Land belongs to Mr.Logaiah Naidu,
South by : 6½ Feet Common Pathway,
East by : Land belongs to Mr.Venkatesan & Arumugam,
West by : Remaining Land belongs to Mrs.Kowsalya,
Measuring:-
Northern Side : 11½ Feet
Southern Side : 11½ Feet
Eastern Side : 76 Feet
Western Side : 76 Feet
In all Measuring an Extent of 872 Sq.feet.
In witness whereof the party of the FIRST PART has set his hand
and signature on the day month and year first above written in the
presence of
PARTY OF THE FIRST PART
WITNESSESS :
1.
2.
