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NAME
Son  of  /  Wife  of
ADDRESS
Meena, 
Cbe-27. Ph : 94430-33330
LOAN AMOUNT Rs. :
VEHICLE REGISTRATION No. :
 
HYPOTHECATION
 CONTRACT  No...........................
DATE : ................................

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<img src="doc1.jpg" width="1095px" height="1460px">
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<table width="100%">
<tr><td></br>LOAN  A/c No.</td>
<td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td></br>INTRODUCTION</td></tr>
<tr><td colspan="3"><center><b><h2>PROPOSAL  FORM</center></b></h2></td> </tr>
<tr><td colspan="3"><center><b><h3>REGARDING  HYPOTHECATION OF VEHICLES</center></b></h3></td> </tr>

<tr><td colspan="3"><p>For the purpose of entering into an agreement with  me/us  for the Hypothecation of Motor Vehicles I/We
give below the information required.</br></br></p></td></tr>
<tr><td colspan="3"><b><h6>Borrower</br></b></h6></td> </tr>
<tr><td>&nbsp;</td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td>
<td>&nbsp;&nbsp;</td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td></tr>
<tr><td><font face="Times New Roman" size="4px">1.&nbsp;&nbsp;a)&nbsp;Full Name and Age</font></br></br></td><td>&nbsp; -</td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;b)&nbsp;&nbsp;Father / Husband Name</font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;c)&nbsp;&nbsp;Residential Address & Office Address</font></br></br></br></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;d)&nbsp;&nbsp;Land Mark</font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;e)&nbsp;&nbsp;Native Place Address</font></br></br></br></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;f)&nbsp;&nbsp;Telephone Number</font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;g)&nbsp;&nbsp;Cell Number</font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;h)&nbsp;&nbsp;Aadhar No</font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px"><b>2.&nbsp;&nbsp;Particulars of Vehicle</b></font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;a)&nbsp;&nbsp;Make, Type & Year of Mfrs</font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;b)&nbsp;&nbsp;Registration Number</font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;c)&nbsp;&nbsp;Chassis Number</font></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">&nbsp;&nbsp;&nbsp;&nbsp;d)&nbsp;&nbsp;Engine Number</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>


<tr><td><font face="Times New Roman" size="4px"><b>Computer Verified</b></font></br></br></td><td>&nbsp;&nbsp;&nbsp;<td><font face="Times New Roman" size="4px"><b>Address Verified</b></font></br></br></td></tr>
<tr><td><font face="Times New Roman" size="4px">Signature :</font></br></br></td><td>&nbsp;&nbsp;&nbsp;<td><font face="Times New Roman" size="4px">Signature :</font></br></br></td></tr>
<tr><td><font face="Times New Roman" size="4px">Name     </font></br></br></td><td>&nbsp;&nbsp;&nbsp;<td><font face="Times New Roman" size="4px">Name     </font></br></br></td></tr>
AREA
</table>
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<table width="100%">
<tr><td colspan="3"><center>CO-OBLIGANT I</center></td></tr>


<tr><td><font face="Times New Roman" size="4px">1.&nbsp;&nbsp;a)&nbsp;&nbsp;Full Name and Age</font></br></br></br></td><td>&nbsp; -</td><td>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td></tr>
<tr><td><font face="Times New Roman" size="4px">b)&nbsp;&nbsp;Father / Husband Name</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">c)&nbsp;&nbsp;Residence  Address & Office Address</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">e)&nbsp;&nbsp;Telephone No.</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">f)&nbsp;&nbsp;Cell No.</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">g)&nbsp;&nbsp;Aadhar No.</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">2.&nbsp;&nbsp;a)&nbsp;&nbsp;Profession or Occupation</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">b)&nbsp;&nbsp;Details of property / Investment</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">c)&nbsp;&nbsp;Native Place Address</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td colspan="3"><font face="Times New Roman" size="4px"><p>We affirm that each of statements made by us in this Proposal Form are in every respect true and correct to
the  best of our knowledge and we have not with held any information likely to effective the acceptance of this
proposal and that the properties mentioned herein will not in any way be transferree or alienated until the
obligations arising out of the  agreement are fulfilled and be agreed this proposal shall be basis of the contact
between us.</p></td></tr>
Dated at ............................................................this..................................................20
1.
Signature of 
Co- Obligant
                          Signature of  Hirer
X
C

</table>
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<table width="100%">
<tr><td colspan="3"><center>CO-OBLIGANT II</center></td></tr>


<tr><td><font face="Times New Roman" size="4px">1.&nbsp;&nbsp;a)&nbsp;&nbsp;Full Name and Age</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">b)&nbsp;&nbsp;Father / Husband Name</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">c)&nbsp;&nbsp;Residence  Address & Office Address</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">e)&nbsp;&nbsp;Telephone No.</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">f)&nbsp;&nbsp;Cell No.</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">g)&nbsp;&nbsp;Aadhar No.</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">2.&nbsp;&nbsp;a)&nbsp;&nbsp;Profession or Occupation</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">b)&nbsp;&nbsp;Details of property / Investment</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td><font face="Times New Roman" size="4px">c)&nbsp;&nbsp;Native Place Address</font></br></br></br></td><td>&nbsp; -</td><td></td></tr>
<tr><td colspan="3"><font face="Times New Roman" size="4px"><p>We affirm that each of statements made by us in this Proposal Form are in every respect true and correct
to the  best of our knowledge and we have not with held any information likely to effective the acceptance of
this proposal and that the properties mentioned herein will not in any way be transferree or alienated until the
obligations arising out of the  agreement are fulfilled and be agreed this proposal shall be basis of the contact
between us.</p></td></tr>
Dated at ............................................................this..................................................20
2.
Signature of 
Co- Obligant
                          Signature of  Hirer
X
C
வண்டிக்கு இன்சூரன்ஸ் தங்கள் செலவில் செய்து கொள்ள வேண்டியது.
நிர்வாகம் பொறுப்பல்ல . 
</table>
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<p style="page-break-before: always">
X
C
<p style="page-break-before: always">

<p style="page-break-before: always">
X
C
<p style="page-break-before: always">

<p style="page-break-before: always">
தங்களது நிதி நிறுவனமான ............................................................................... பைனான்சில் ............................................................................
த.பெ ....................................................... ஆகிய நான் வண்டி நெம்பர் ......................................................
என்ற எண்ணுள்ள .......................................................... வாகனத்திற்கு ............................................. தேதியில் 
ரூ............................................................... கடனாகப் பெற்றுள்ளேன். இந்த வாகனத்தை என் சொந்த
உபயோகத்திற்காக மட்டும் வாங்கியுள்ளேன்.

இந்த தொகையை நான் மாதம் ரூ ........................................... வீதம்  ................................... மாதங்களுக்கு 
செலுத்துவதாக உறுதி கூறுகிறேன்.

இந்த தவணை தொகையை செலுத்தி முடிக்கும் வரை மேற்படி வாகனம் ட்தங்களுக்கு முழு 
உரிமை உடையது ஆகும்.

இந்த வாகனத்தை நான் ட்தங்கள் அனுமதி இல்லாமல் யாருக்கும் விற்பனை செய்யவோ அல்லது அடமானம் வைக்கவோ மாட்டேன் என்று உறுதி கூறுகிறேன்.

மேற்படி வாகனத்தை விற்பனை செய்வது எனில் நானே தங்களிடம்  ஏரில் வந்து வணத்தை செலுத்தி R.C.  புத்தகத்தையும் மற்றும் ஹைபாத்திகேசன் அக்ரிமெண்ட்
ஆவணத்தை ரத்து செய்து விட்டு விற்பனை செய்வேன் என உறுதி கூறுகிறேன்.
 
தங்கள் அனுமதி இல்லாமல் மேற்படி வாகனத்தை விற்பனை செய்வதோ அல்லது அடமானம்வைப்பதோ வேறு 
நபருக்கு மாற்றித் தருவதோ மறைத்து வைத்திருப்பதோ செய்தால் தாங்கள் என்மீது
காவல்துறை நடவடிக்கை எடுக்க உங்களுக்கு பூரண உரிமை உண்டு என்று இதன் மூலம் உறுதி 
கூறுகிறேன். இந்த விபரங்கள் முழுவதும் படித்து பார்த்து கையொப்பம் செய்து உள்ளேன்.

இப்படிக்கு 
x
கையொப்பம் 
இடதுகை ப்ருவிரல் ரேகை

துணை கடந்தாரை ...................................................................... த/பெ ..................................................................... 
ஆகிய நான், மேலே கண்ட கடன் வாங்கிய ...............................................................
த/பெ....................................................................... ஆகிய நபர் மேற்சொன்னபடி நடப்பார் என்று உறுதி கூறுகிறேன்.
 
 மேலும் அவர் பணம் செலுத்த தவறினால் நான் என்னுடைய சொந்த பணத்தை செலுத்தி விடுவேன்
 என்று உறுதி கூறுகிறேன். தவறினால் மேற்கண்ட தங்களின் நடவடிக்கைக்கு நானும் உரியவன் ஆவேன்,
 மேலும் தற்சமயம் நான் ஓட்டிக்கொண்டிருக்கும் இரண்டு சக்கர வாகனத்தை ஞாமீனாக கொடுப்பதற்கும் தங்களுக்கு உறுதி கூறுகிறேன்.
 
 இப்படிக்கு
 C
 கையொப்பம்
 இடதுகை ப்ருவிரல் ரேகை
 
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Rs......................
Date.........................
ON DEMAND I / WE.........................................................................................................son of
wife of........................................................................................................................
.....................................
.................................................................................................................................................................
...................................................................................................................................................................
do hereby Jointly and severally promise to pay ................................................................................
...........
...................................................................................................................................................................
...................................................................................................................................................................
...................................................................................................................................................................
or order the sum of Rs.........................................................................................................
.....................
(Ru-pees...................................................................................................................................................)
together with interest at....................percent per annum, being value received by me/us this day by
Cash / Cheque / Draft for the purpose of my / our business.
Dated  at ...................., this...................................................day of................................20
Witnesses :
1.
2.
X
C

 - - - - - - - - - - - - - - - - - - - - - - - - - - - 
......................................................... ........................................................................................ல் 
கடந்தாரர்......................................................................த.பெ. .........................................................................................
ஆகிய நான் எழுதிக்கொடுத்தது என்னவென்றால், உங்களுடைய.................................................
 நான்...............................................தேதியில் கடன் எண்................................................மூலம் வாங்கிய
 கடந்தொகை ரூ............................................../- ஐ என்னால் சரிவர கட்டமுடியாததால் நான் தற்சமயம் வைத்திருக்கும்  வாகனத்தையோ 
  ................................................... அல்லது............................................... பொருளையோ ஜாமீனாக 
  தந்து தங்களுடைய மேற்படிகளை முடித்து இந்த வாகனத்தை/பொருளை திரும்பப் பெற்றுக் கொள்கிறேன்.
இப்படிக்கு,

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HYPOTHECATION CUM LOAN AGREEMENT
THIS AGREEMENT made this ____________________________day of __________________between
____________________________________(here in after referred to as the “Borrower”) which expression shall, unless repugnant to the context or meaning thereof, be deemed to mean and include his/her/its/theirs respective heirs, executors, administrators, nominees, attorneys, and legal representatives, successors in interest as the case may be of the ONE PART AND______________________________________________________________________
WHEREAS
(a)	The Lender is inter-alia engaged in the business of extending financial assistance for the purchase/refinance of motor vehicles, machinery and other assets (hereinafter referred to as THE ASSETS)
(b)	The Borrower(s) has requested the Lender for the financial assistance for the purchase/refinance of motor vehicles, machinery and other assets more fully described in SCHEDULE 1 of this agreement, against the security of the said vehicle/machinery/asset, which is free from any encumbrance.
(c)	The Borrower(s) in consideration of having availed the loan facility, has agreed to abide by the terms and conditions stipulated by the lender and more fully set out hereunder and in particular not to deal with Schedule mentioned / collateral asset, by way of sale, alienation, hypothecation, pledge or in any other manner whatsoever except as herein authorised by the Lender in writing, until the entire due amount under this Agreement is paid to the Lender.
(d)	The Lender, relying upon the above representations made by the Borrower(s) has agreed to provide the loan sought for to the Borrower(s), upon the terms and conditions stipulated herein.
ARTICLE 1
DEFINITIONS
1.1	In this agreement unless the context otherwise requires:

a)		The term “First Schedule” and “Second schedule” mean the First and the Second Schedule to this Agreement.
b)	The term “Loan” means the Loan referred to in Article 2.1 of this Agreement and the Second Schedule.
c)	The term “repayment” means the repayment of the principal amount of Loan, interest thereon, commitment and/or any other charges, premium, hand loan, service charges, premium, fees or other dues payable in terms of this agreement to the Lender, and means in par-ticular, amortization provided for in Article 2.6 of this Agreement.
d)	The term “prepayment” means premature repayment (without any outstanding instalment) as per the terms & conditions laid down by the Lender in that behalf and in force at the time of repayment.
e)	The term “Asset” or “the said Asset” means the vehicle or Machinery for the purchase/in respect of which the loan has been generated by the Lender to the Borrower(s) and which is hypothecated by the Borrower in favour of the Lender by way of security, more fully described in Schedule 1 of this Agreement.
f)	The expression “rate of interest” means that rate of interest referred to in Article 2.2 of this Agreement.
g)	The expression “instalment” means the amount of monthly payment specified in the second schedule, necessary to amortize the Loan with interest, over the period of the loan.
h)	The term “Post Dated Cheques” or “PDCs” means cheques drawn by the borrower in favour of the Lender towards the amount due.
i)	The term “Hirer” refers to the “Borrower”, “owner” refers to the “Lender”
1.2	 The terms and expressions not defined herein shall, have the same interpretation and meaning as   defined under the General Clauses Act, 1897.
1.3	All terms used in singular shall unless the context requires otherwise, include plural and a reference to one gender shall include all genders.

					ARTICLE 2
				    LOAN, INTEREST, Etc.

2.1	The Borrower(s) further agrees:
a)	To keep the vehicle in through working order and good condition and to make no alteration thereon or addition thereon without previous written consent of the Lender and it is agreed that in the event or this Agreement being terminated by the Lender such additions or altera-tions aforesaid shall be deemed to be absolute property of the Lender provided always that Borrower(s) shall not have or be deemed to have any authority to pledge the Asset of the Lender for repairs, alterations or additions.
b)	To Intimate the Lender against loss by reason of damage to or destruction or loss of the Asset from any cause whatsoever by reason of claims by their parties in respect to the same.
c)	To keep the Lender notified with his address and the address of the premises where the Asset is kept, and the routes where the As-set is being used and any other change of the same as soon as made.
d)	To allow the Lender / Lender’s representatives / any other Collection Agent free access at all responsible time to inspect the Asset or to take possession of the same as hereinafter mentioned.
e)	To have the Asset registered or Hypothecated in the favour of Lender and not to sell, mortgage, pledge, hypothecate, hire or other-wise deal with the asset not to part with possession of the asset, not to remove the spare parts without any previous written per-mission from the Lender and not to use the Asset for any criminal activity and not to use the Asset for any other purpose other than that is declared in the proposal form. 
f)	To pay all fees such as Insurance charges, Endorsement charges, Endorsement cancellation charges, Name transfer charges, taxes payable, any fine payable to the government in respect of the asset as and when the same become due and to intimate the Lender against all such payments.   	  

2.2	Amount and term of Loan
	The Borrower(s) has agreed to borrow from the Lender and the Lender has agreed to grant the 	Loan to the Borrower for the purpose of purchase/refinance in respect to the Asset, of a sum, as stated in the First and second schedule, on the terms and conditions herein set forth.

2.3	Interest
	The rate of interest is as stated in the second schedule of this Agreement.
2.4	Details of Disbursement
	In the case of purchase of new Assets by the Borrower(s), the loan amount may, at the option of 	Lender, be disbursed by the Lender directly to the Dealer/Manufacturer and such disbursement 	shall be deemed to be disbursed to the Borrower(s). In case of loan against used assets by the borrower, the Lender shall determine the manner of disbursement; i.e. either to the owner/seller of the Asset or the Dealer or to the Borrower or to the person authorised by the Borrower and such disbursement made to one or more persons as aforesaid shall be deemed to be disbursed to the Borrower as contemplated under this Agreement.

2.5	Terms of Disbursement
	The Right of Disbursement of Loan is always reserved by the Lender.

         	Notwithstanding anything to the contrary contained herein, the Lender may, by notice to the 		Borrower, suspend or cancel further disbursement of the Loan if the Loan granted shall not have 	been fully drawn and shall not have been cancelled by the Lender. The Borrower, in such event, shall be liable to refund to the Lender the amount already disbursed by the Lender, together with interest.

2.6	Processing Charges
	The Borrower shall be liable to pay to the Lender non-refundable, non adjustable processing	 charges as may be levied by the Lender at the time of and together with the application for Loan.
Signature of Borrower
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(hereinafter referred to as the Lender which expression shall unless it be repugnant to the context or meaning thereof shall mean and include his/its successors and assign of theOTHER PART.
2.7	Repayment of Loan
a)	The repayment for the instalments shall be made by the Borrower. The details such as number, due date and amount in respect of the instalments are described in the second schedule. The repayment schedule is without prejudice to the right of the Lender to be paid in demand as contemplated under this agreement, the entire Loan amount along with other dues. Further, the computa-tion/fixation of the instalment will be without prejudice to the right of the Lender to re-compute the amount of instalments and in-terest thereon, including in case it is discovered at any stage that the instalments have been computed wrongly.
b) 	The Borrower agrees that time is the essence of the contract.
c)	The payment of the instalments shall commence and continue irrespective of delay/non-delivery of the asset to the borrower by the Dealers/Manufacture/Seller and notwithstanding any difficulties that the borrower may be facing or any disputes, or grievances which the Borrower may have with or against Dealers/Manufacture/any person or in respect of the delivery of the asset or in respect of the asset itself.
d)	No notice, reminder, or intimation will be given to the Borrower regarding his obligation to pay the instalment regularly on the due dates or presentation of any PDCs or insurance premium amount. It shall entirely be the responsibility of the Borrower to ensure prompt and regular payment of the same.
e)	without prejudice to any other rights and remedies which the Lender may have under this Agreement and/or under the prevalent law, in the event of any delay by the Borrower in any payment to the Lender under this Agreement, the Lender shall be entitled to charge an additional interest as penalty/fine at the rate of ‘7/- per month for every ‘ 100/- of the amount in arrears, whether of Loan, interest or any other charges would not affect the obligation of strict compliance with repayment schedule, it being an essential condition for the grant of Loan.
f)	Any dispute being raised about the amount of due or interest computation will not entitle the Borrower(s) to withhold payment of any Instalment.

2.8	Mode of payment of the Instalment
	
a)	Subject to the terms and conditions stipulated hereunder, the repayment shall be by way of cheques, or Post Dated Cheques or by ECS or in Cash, after obtaining a valid receipt for the same or by Demand Draft or any other accepted modes of transfer of funds permitted under the Indian Banking System to the Lender as per Second Schedule. The Borrower acknowledges that strict compliance by him with the repayment schedule is an essential condition for the grant of the Loan.
b)	If one or more of the PDCs delivered by the Borrower are lost, destroyed or misplaced while in custody of the lender, the Borrower shall upon receipt of such intimation from the lender, replace the same with fresh cheques/ DDs or Pay cash.
c)	It is agreed and understood by the Borrower that non presentation of the cheques by the Lender due to any reason whatsoever will not affect the liability of the Borrower to repay the Loan. The Lender shall not in any way be responsible for delay, omission or neglect in encashment, damage or loss of any cheques (already given or to be given by the Borrower to the Lender in terms hereof) for any reason whatsoever.
d)	Without prejudice to any other rights or remedies the Lender may have under this agreement and/or under the prevalent law, the Borrower shall be liable to pay all charges stated in Schedule 1A of the sanction letter which forms part of this Agreement. The quantum of the levy of charge upon dishonouring of the cheque is without prejudice to the rights of the Lender under the Negotia-ble Instruments Act, as in force for the time being, and without prejudice to the other rights, which the Lender has under this Agreement or under law of equity. The Lender reserves his right to increase the charges stipulates in Schedule 1A from time to time with due intimation to the Borrower.

2.9			Lender’s right to alter, modify or restructure the instalments and transfer the account
a)	The Lender shall be entitled to, if the Lender deems fit in the circumstances, alter or re-schedule the instalments in such manner and to such extent as the Lender may, in his sole discretion, decide with due notice to the Borrower and upon getting his consent in writing, the repayment shall be made by the Borrower as per the said alteration and/or re-schedule from the date on which the in-stalments are altered/modified/restructured, notwithstanding anything stated in the second schedule.
b)	On a request being made by the Borrower in writing to the Lender for transfer of his account to any other party either existing or new, it is purely discretionary on the part of the Lender to consent or reject the said request. The Lender further agrees to communicate his decision on such request to the Borrower within 21 days from the date of receipt of such request.
ARTICLE 3
SECURITY

3.1		In consideration of the Lender having granted or agreed to grant the Borrower the Loan facility, subject to the terms and conditions mentioned herein, the Borrower hereby hypothecates/agrees to hypothecate and create in favour of the Lender during the course of the loan, an exclusive first charge of the Asset together with all accessories, in addition to or in the said asset whether present or future improvements, renewals and replacements made or  to be made on the asset as detailed under the first schedule, against which the Loan facility is being availed. In this regard the Borrower has also executed the irrevocable power of attorney in favour of the Lender. The Borrower also agrees and undertakes to execute such further documents and complete such formalities as may be required by the Lender to perfect the charge of the Lender on the Asset.
3.2	The Hypothecation shall be deemed to take effect immediately upon signing of this Agreement or delivery of the Asset(s) whichever is earlier.
3.3	The charge created by the Borrower in Article 3.1 hereof shall stand as security for the due repayment by the Borrower of the Loan granted by the Lender to the Borrower and of all fees and interest, costs and expenses incurred or to be incurred by the Lender hereunder and all other monies payable by the Borrower to the Lender pursuant to the terms hereof.
3.4	The charge created by the Borrower herein shall continue unless and until the Lender issues a certificate discharging the security created herein and shall not affect, impair or discharge the liability of the Borrower by insolvency, arrangements with creditors, mental disability of physical disability winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be)of the Borrower.
3.5	If the Asset has not been delivered or in the case of not been registered in the name of the Borrower at the time of execution of the Agreement, the particulars of the asset that are not available at such time and shall be intimated in writing by Borrower to the Lender within one week of such delivery and/or registration and such particulars shall be read as a part and parcel of the schedule hereunder as if they had been incorporated therein at the time of execution of this agreement. 
	The Borrower agrees not to take the plea that, since on the date of execution of this Agreement, the details of the Asset or any part thereof were not available, the charge is inoperative defective or invalid or in any way unenforceable.
3.6	The Borrower hereby confirms that the Borrower is aware of all the details of the Asset(s).
3.7	The Borrower has also executed a demand promissory note by way of security for the amount of loan and interest thereon.
3.8	The Lender may require the Borrower to furnish such additional securities including guarantee(s) from third party, as the Lender may deem fit, in his sole discretion. In such an event the Borrower shall provide such additional security and in this regard execute such Agreements, undertakings, documents, power of attorney/s that may be required by the Lender. The Borrower shall not revoke or terminate any such contracts, agreements, undertakings, documents, etc. till all the amounts due and payable by the Borrower to the Lender under this agreement have been paid in full without any loss in principal, interest, and other charges  and certified so by the Lender.

ARTICLE 4
			          APPROPRIATION OF PAYMENTS

4	The Lender shall have a right to appropriate any payments due and payable under this Loan Agreement and made by Borrower towards dues as a whole or in part at the rate the Lender deems fit, towards the following:-
i.	Repayment of Instalments.
ii.	Costs, Charges, expenses, insurance premium, statutory dues and other monies.
iii.	Interest on costs, charges, expenses and other monies.
iv.	Service charges
v.	Interest including additional interest as penalty/fine, if any, payable in terms of the Loan Agreement.
vi.	Premium on Prepayment
vii.	Repayment of dues under any other hypothecation agreement, pending principal, interest, other charges, loss incurred to Lender in any other hypothecation agreement.
viii.	Repayment of dues under any other guarantee(s) or by his Family members in any other hypothecation agreement known to the Lender after the disbursement of the Loan.
ix.	Repayment of dues under any other contract/s viz. Tyre finance, Fleet Card facility, Insurance finance etc., Irrespective of the capacity either as borrower or co-obligant under the said contract/s, Agreement.
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Signature of Borrower
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ARTICLE 5
			        PRE-DISBURSEMENT CONDITION 

5.0	Prior to disbursement of the Loan by the Lender, the Borrower shall furnish to the Lender the documents in proof of the payment made by him to the dealers/manufacturers/any person by way of his own contribution towards the cost of the Asset, and also the original invoice.

ARTICLE 6
			      CONDITIONS FOR DISBURSEMENT	

6.0	The obligation of the Lender to make any disbursements under the Loan Agreement shall be subject to the following conditions:-

a)	The Borrower shall create security, furnish the guarantee/s and execute the promissory note and all other necessary documents to the satisfaction of the Lender as stipulated in Article 3 above in favour of the Lender.
b)	All authorisations, resolutions as required under the existing laws have been duly complied with.
c)	Non existence of any event of default by the Borrower/Borrower’s Family members known at the time of disbursement.
d)	No extraordinary or other circumstances should have occurred which shall make it improbable for the Borrower to fulfil its obligation under this Agreement.

ARTICLE 7
			REPRESENTATION OF THE BORROWER

	The Borrower represents that:-

7.1	The Borrower has adequate legal capacity to enter into and execute this Agreement. The Borrower is not restricted in any manner or prevented in any other manner under any law, statute, judgement, decree, contract or otherwise from executing and undertaking the obligations in the manner provided in this agreement upon execution, this Agreement shall be a valid legally binding commitment of the Borrower enforceable against him in terms of this Agreement. The Borrower (in case of being a company) is duly organised and existing under the laws of India with power to enter into this Agreement to which he is or he shall be a party.
7.2	No encumbrance of any nature or any lien exists over the Asset hypothecated herein.
7.3	He has obtained and done all that is necessary to give full force and effect to all authorizations, approvals, consents, licenses and permissions required in relation to this Agreement, collateral documents and the hypothecated Asset and the Borrower has paid all taxes and statutory dues payable by him and has not received and demand, claim or notice from any person.
7.4	The Borrower shall ensure at all times during subsistence / existence of the Agreement the Asset being any Vehicle that the person who drives the vehicle(s) holds a valid driving license entitling his to drive the vehicle(s).
7.5	There are no suits, actions or claims pending or are likely to be filed or taken (whether civil or criminal or otherwise) against the Borrower of any nature or whatsoever.

ARTICLE 8
CONVENTS / UNDERTAKINGS OF THE BORROWER

 8.0	The Borrower shall

a)	Promptly notify any event or circumstances, which might operate as a cause of delay in the completion of this Agreement
b)	Duly and punctually comply with all the laws and rules etc. and make payments of all the charges levied or leviable in respect of the Asset. He shall be solely responsible for use, operation, maintenance and protection of the Asset and any liability arising there from.
c)	Promptly inform the Lender of any loss or damage to the Asset which he may suffer from due to any force majeure or act of God, such as earthquake, flood, and typhoon.
d)	Reimburse or pay to the lender such amount as may have been paid or payable by the lender to the Central or State Government on account of any tax and levies on the loan by the Central or State Government. The reimbursement or payment shall be made by the Borrower as and when called upon so by the Lender.
e)	Not sell, Not involve in any criminal activity, lease, transfer, create charge, hypothecate or create encumbrance of any nature, pledge, mortgage, create POA/GPOA to third party other than the Lender, create Will in reference to the Asset, or surrender or part with possession of the Asset, in any manner whatsoever without the consent writing from the Lender. Any direct or indirect transfer of the Asset would be deemed to be a criminal breach of trust and a case of cheating, entitling the Lender to file / pursue FIR / or a criminal complaint against the Borrower. The said hypothecated Assets are in the custody of the Borrower in his capacity as a Bailee.
f)	Maintain the Asset in good condition and will make all necessary repairs, additions and improvements thereto during the pendency of the Loan.
g)	Maintain sufficient balance in the account of the drawee bank for payment of PDCs issued by him and honour the same on presen-tation.
h)	Shall continue to pay all public demands such as income tax and all other taxes and revenues payable to the government of India or to the government of any state or to local authority, and he hereby confirms that, at present, there are no arrears of such taxes and revenues due and outstanding.
i)	In case the asset being a new vehicle, get the Asset registered with the appropriate authority under the Motor Vehicles Act, 1988 and shall get the charge of hypothecation on the vehicle(s), created or to be created, duly endorsed and recorded in the certificate of registration in favour of the Lender. In the event of Asset being a used vehicle, the Borrower shall ensure that requisite name transfer and endorsement are made on the RC book of the Vehicles indicating hypothecation of such Asset(s) in favour of the Lender, prior to the disbursement of the loan or during the course of the Loan period.
j)	Submit a copy of the registration certificate relevant to the Asset being a vehicle for which the Loan has been taken after taking de-livery of such vehicle(s).
k)	That the Borrower(s) shall submit the original invoice/bills of the asset financed within one week from the date of purchase of asset.
l)	Not apply for any duplicate Registration Book for the Asset, being a Vehicle, otherwise than by obtaining prior consent thereof from the Lender for endorsing his charge on the vehicle(s).
m)	Inform the Lender, in writing, of any damage or theft of the Asset, lodging of any claim with the insurance company in respect of the Asset, or of loss, destruction or misplacement of the Registration Book of the Asset or the insurance policy related to the Asset, im-mediately upon such damage or lodging of claim. In such as event, the Lender may, without prejudice to his other rights under this agreement, in law or equity, require the Borrower to take such steps as may be necessary to protect the Asset of the Lender. 
n)	Pay all rates, assessments, taxes and other outgoings which may be assessed, imposed, or payable for the hypothecated asset, by government, Municipal Corporation, Regional Transport Authority or any other authority and, produce receipts of such payments. In event, such amounts are paid by the Lender; the borrower shall reimburse all such amounts together with interest to the Lender.
o)	Not suffer or allow to suffer any attachments or distress to the hypothecated Asset or any parts thereof or allow anything that may prejudice or endanger the security herein without the express consent in writing of the Lender.
p)	Undertake to do such acts, deeds, assurances, matters and things as may be required by the Lender for further assuring and con-firming the security created herein and the rights, powers and remedies hereby  conferred and execute such documents at his own costs as may be required in this regard in this regard.
q)	Undertake to do such acts, deeds, assurances, matters and things as may be required by the Lender to keep track/information about the whereabouts of the Asset and to allow the timely inspection of the Asset by the Lender from time to time for any doubts/arrears in maintenance of the Asset.
r)	Indemnify and agree to keep the Lender indemnified and hold harmless from and against all costs, expenses, claims, and ac-tions(including third party liability in case of accidents, damage or otherwise) and make good all payments including legal costs, fees and costs to take possession, insurance, and selling of the asset. He shall also be liable for the loss along with interest incurred in selling of the vehicle, for expenses incurred by the Lender along with interest thereon while pursuing any remedy under the Negoti-able Instruments Act, Criminal Procedure Code or at any other forum.
s)	Ensure that he is fully acquainted with the rules of the Lender, as informed from time to time.

ARTICLE 9
			   REVISION IN THE PRICE OF THE ASSET

9.0	If the price of the asset is revised upwards after the date of signing of the Agreement, then and in 	the event the Borrower shall be liable to pay the additional amount required for acquiring the 		asset(s) at such revised price and the Lender shall not be liable to pay any additional amount by 		way of Loan or otherwise for such revision in price of the asset(s). In such a case, the Lender shall	be at liberty to cancel this Loan transaction and also collect refund for the amount paid to the 	Dealer/ Manufacturer as booking price or otherwise from the dealer/manufacturer, without prejudice to any other provisions of this Agreement.
1000 COPIES / LEDGER SHEET | FRONT
Signature of Borrower
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ARTICLE 10
					DELIVERY

10.1	The borrower shall be solely responsible for taking delivery of the Asset and documents relating to such asset from the manufacturer or the dealer or any other person and for verifying fitness, quality condition etc,. Of the same. The Borrower shall intimate the Lender immediately upon taking delivery of the asset.
10.2	It is agreed and understood by the Borrower that the Lender shall not be liable for any delay in the delivery of the asset from the manufacturer or the dealer or any other person, any demurrage, cost/quality/condition/fitness of the Assets. The Borrower absolves the Lender from any liability in respect of the above and the Borrower shall not withhold the payment of the stipulated instalments on the pretext that the asset has not been delivered or for any reason whatsoever.

ARTICLE 11
USE

		The Borrower undertakes not to use the Asset either by himself or through his servants or agents for any purpose not permitted by the terms and conditions of the Insurance Policy nor do or permit to be done any act or thing which might render the Insurance invalid, and in particular, no to use the Asset/Vehicle for transport of goods, articles, etc,. In contravention of any of the provisions of the Acts of Central and State Legislatures relating to Forest, Excise, Customs, Sales tax, Prohibition, Opium, Railway Property, unlawful Possession, Gold control, etc,. And not to engage in it in any unlawful or illegal activity and the Borrower shall be responsible for any damage or loss sustained by the Lender in respect of the Asset, as a result of such wrongful or unlawful use. The Borrower undertakes to use the Asset only for the use indicated by the Borrower to the Lender and as stated in this Agreement, at his own costs and expenses.
ARTICLE 12
INSURANCE AND MAINTENANCE

12.1	In order to safeguard the security of the Loan and to ensure that the Lender’s lien is marked on the insurance, the Borrower shall, immediately after signing this Agreement, keep the asset insured against any loss or damage by accident or fire or other perils under a comprehensive policy including the risks against strikes, riots, Civil commotions, floods and such wider liability to which the asset is normally exposed and unlimited third party liability risks with an Insurance company approved by the Lender and shall punctually pay all the premium and other sums required for keeping the said insurance effective throughout the period of this Agreement and deliver any insurance policy, cover note or receipt to the Lender. Each Insurance policy shall be in the name of the Borrower with necessary endorsement in favour of the Lender as ’loss payee’ and additional endorsement in favour of the Lender if so required by the Lender.
12.2	The borrower shall not use the Asset for any purpose not permitted by the terms and conditions of the insurance policy and shall not do or permit to be done any act or thing which might render the insurance invalid.
12.3	Notwithstanding the obligation of the Borrower to insure the Assets, the Lender may at his sole discretion pay the insurance premium on behalf of the Borrower, by being a facilitator and recover the same with interest from the Borrower . However, any non-payment on the part of the Lender due to any reason will not affect the liability of the Borrower to pay the necessary insurance premium to the insurance company and to keep the Asset insured.
12.4	The first claim on any insurance proceeds shall be that of the Lender. The Borrower hereby irrevocably authorizes the Lender to claim insurance proceeds to safeguard the interest of the Lender and appropriate the proceeds thereof against the dues of the Lender. The Bor-rower will comply with all directions of the Lender with respect to insurance policy and its renewal as stipulated from time to time.
12.5	The Borrower shall at his cost without any undue delay, carry out repairs to the Asset occasioned by any accident or for any other reason and shall produce bills in respect of insurance claim to the insurance company for settlement. It there are no over dues against the borrower, the Lender shall pass on to him such benefits as the Lender receives from the Insurance company in respect of the claim.
12.6	Notwithstanding the obligation of the Borrower to cancel any previous endorsements, Name transfer of the Asset in the name of the Borrower or any person in favour of the Lender, Endorse the name of the Lender in the Registration certificate of the Asset, the Lender may at his sole discretion pay for the above said procedures on behalf of the Borrower, by being a facilitator and recover the same with interest from the Borrower. However, any non-payment on the part of the Lender due to any reason will not affect the liability of the Borrower to pay for the above mentioned necessary procedures.

ARTICLE 13
EVENTS OF DEFAULT
The following events shall constitute “Events of Default”
13.1	The Borrower failing to repay the Loan or any fee, charge in the manner herein contained and any of the instalment or hand loan or any other amount due hereunder(remains unpaid after the date on which it is due); or
13.2	The Borrower (in case of being an individual) dies or takes any step(s) with a view to his being made insolvent in any jurisdiction or with a view to the appointment of a receiver, trustee or similar officer of any of his assets; or
13.3	If the Borrower (in case of being a corporate body or a partnership firm) takes any action or other steps are taken or legal proceedings are initiated by any third party against the Borrower for winding up, dissolution or reorganization or for the appointment of a receiver, trustee or similar officer on its assets, particularly on the hypothecated asset(s);or
13.4	If the Borrower sells, encumbers or transfers or seeks to sell, transfer, create encumbrance on the hypothecated Asset in an manner whatsoever without the express consent in writing of the Lender; or
13.5	 The Borrower fails to pay any insurance premium for the hypothecated Asset or the bank charges for dishonoured PDCs/ECS in accordance with the terms and conditions hereof; or
13.6	The hypothecated asset being confiscated, attached, taken into custody by any authority or any person or is subject to any execution proceedings; or
13.7	The borrower failing to pay any tax, impos, duty or other imposition or to comply with any other formalities required to be completed in respect of the hypothecated Asset under law from time to time; or
13.8	The hypothecated Asset being stolen or is untraceable for any reason whatsoever; or
13.9	The assets is distressed, endangered or damaged in any manner or rendered unfit for use or bodily injury is caused to third party by accident with the Asset; or
13.10	Any of the PDCs/ECS delivered or to be delivered by the Borrower to the Lender in terms and conditions thereof is not honoured for any reason whatsoever on presentation; or
13.11	Any instruction being given by the Borrower for stop payment of any PDCs/ECS for any reason whatsoever; or
13.12	The borrower failing to supply a original copy of the registration certificate of the Asset being the vehicle with hypothecation endorsement in favour of the Lender; or
13.13	Any circumstances arises which gives reasonable grounds in the opinion of the Lender that is likely to prejudice or endanger the hypothecated Asset or the interest of the Lender therein or under this Agreement; or
13.14	The Borrower failing to file the particulars of the Asset as provided in the Agreement; or
13.15	The borrower committing breach of any terms, convenants, undertakings and conditions herein contained or any information given or representation made by the borrower to the Lender under this agreement or any other information or documents given by the borrower being found to be inaccurate or misleading; or
13.16	There exists any circumstances, which in the sole opinion of the Lender, jeopardizes  the Lender’s right; or
13.17	The borrower being declared insolvent bankrupt or (in case of company any winding up or liquidation proceedings being filed against the Borrower); or
13.18	Any default being committed by the Borrower in discharging his liabilities under any other Agreement entered into between the Lender and the Borrower; in any capacity or
13.19	There exists any circumstances, where the name of the Lender and Business of the Lender or the Life style of the lender is damaged by the Borrower and any act by the Borrower or Borrower’s persons which may  jeopardizes  the Lender’s rights; or
13.20	Failing to Surrender the hypothecated asset at Borrower(s) cost that is being confiscated, attached, taken into custody by any legal authority or any person or is subject to any legal execution proceedings; or
13.21	The Repossessed assets is distressed, endangered or damaged in any manner or rendered unfit for sale or cause delay in sale which may cause loss to the Lender in any manner; or
13.22	Any loss incurred to the Lender during the sale or termination of the Loan; or
13.23	Any Termination or delay in Termination of account with the intervention of any third party.
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ARTICLE 14
LENDER’S RIGHT
	Upon occurrence of any /all of the aforesaid events of defaults,

14.1	A)	The Borrower shall be liable to pay the following to the Lender within 3 days from the date of receipt of notice from the Lender.
		a)	Arrears Instalments
		b)	Instalments for the remaining period of the agreement.
		c)	Additional interest at the rate specified in this Agreement on the loan amount and out standings and on the other amounts due
		d)	All other sums and charges of whatsoever nature, including, but not limited to interest on account of default in payment of insurance premium, and on account of other taxes.
		e)	If not able to pay the arrears instalments, the borrower shall be liable to surrender the asset in full working condition, agreeing to pay to the Lender for the repairs, and for the purchase of new tyres and battery.

	B)	However in extraordinary circumstances where there is a likelihood of the Borrower causing arrears in instalments or an act of conflict with the Lender alienating or secreting or keeping the Asset beyond the reach of the Lender or Borrower using the Asset for unlawful purposes or the Borrower subjecting the Asset to abnormal wear and tear and / or alienating such other Assets of the Borrower which provide additional cover to the Lender for recovery of the amount due under this agreement, the Lender shall be entitled to take such steps including seizure of the Asset without any notice to the Borrower.		 

	C)	However in extraordinary circumstances where there is a likelihood of the Borrower causing arrears in instalments or an act of conflict with the Lender or alienating or secreting or keeping the Asset beyond the reach of the Lender or Borrower using the Asset for unlawful purposes or the Borrower subjecting the Asset to abnormal wear and tear and / or alienating such other Assets of the Borrower which provide additional cover to the Lender for recovery of the amount due under this agreement, the Lender shall be entitled to take such steps including temporary seizure of any other Asset that may be with the Borrower or with Borrower’s family members without any no-tice to the Borrower until the hypothecated asset is surrendered with full working condition, and the Borrower is liable to pay to the Lender for the repairs, and for the purchase of new tyres and battery in respect to the Hypothecated  Asset or Terminate the Loan by Paying all the amount that is due to the Lender without causing any Loss .		 

14.2	In the event of failure of the Borrower in complying with demand, the Borrower shall be bound to surrender the asset to the Lender at the cost of the Borrower at such location the lender may designate, in the same condition in which it was when the loan was granted, ordinary wear and tear excepted and the Borrower is liable to pay to the Lender for the repairs, and for the purchase of new tyres and battery in respect to the Asset, failing which, the Lender shall be entitled to seize the Asset wherever it is, without any further notice. The Borrower shall not prevent or obstruct the Lender from taking possession of the Asset. For this purpose, the Lender’s authorised representatives, employees and agents will have unrestricted right of entry and shall be entitled to enter upon the premises or garage or godown or mechanic shop or parking area where the Asset shall be lying or kept, and to seize the Asset. In the event of the Borrower not cooperating, the Lender, if necessary, has the right to break open any such place where the Asset is believed to be kept and to seize the Asset. The Lender will be well within his rights to use a tow van or any carrier to carry away the Asset. The Borrower shall be liable to pay any towing charged and carrier charges and any other expenses incurred by the Lender in connection with the seizure of the Asset and for its sale etc.
14.3	 After seizure of the Asset by the Lender or surrender by the Borrower, the Lender’s authorised representatives, employees, officers and agents will prepare an inventory of the Asset. The Lender will send a notice, after seizure or surrender of the Asset granting the Borrower 10 days time to settle the contract and to take back the Asset. The Borrower shall in the event of failing to settle the contract within the time limit mentioned above, deliver all original documents relating to the Asset, including the RC Book, Tax token, permit and Insurance certificate etc,. if the said documents were not available in the vehicle at the time of seizure or surrender and shall render all assistance including execution of necessary documents for transfer of the Asset in favour of the Lender or his nominees or his agents or the purchaser of the Asset identified by the Lender. If however, the Borrower fails to render necessary assistance for transfer of the Asset, the Lender shall be entitled to take all such steps unilaterally as may be necessary to facilitate early sale of the Asset.
14.4	Neither the Lender nor his agents, officers, nominees shall be in any way responsible and liable and the Borrower hereby agrees not to make the Lender or his officers, agents or nominees liable for any loss, damage, limitation, or otherwise for any belongings and articles that might be kept or lying in the hypothecated Asset at the time of taking charge or possession or seizure of the hypothecated Asset.
14.5	The Borrower shall pay the cost of seizure / surrender, the expenses incurred by the Lender after seizure / surrender, including garage rent and parking fee in any private parking firm etc. The Borrower shall acknowledge delivery of the Asset together with the documents if the Borrower repays the amount due to the Lender in full to the satisfaction of the Lender and the Lender agrees to return the Asset to the bor-rower. The Lender may at his sole discretion, also agrees to release the asset on part payment of the dues on such undertakings/conditions which the Lender may prescribe after obtaining delivery receipts addressed to the lender which is an acknowledgement that the Borrower has taken delivery of the Asset in the same condition in which it was seized / surrendered. The place of return of the Asset to the Borrower shall be in sole discretion of the Lender. The Borrower shall not raise any dispute nor any claim regarding seizure of the asset or condition of the asset or place or delivery of the asset or any articles kept in the asset at the time of seizure / surrender of the asset.
14.6	The Lender shall in any / all the aforesaid events of default, be entitled to and the borrower irrevocably authorizes the Lender to sell/transfer/assign the Asset either by public auction or by private sale or otherwise and appropriate the proceeds thereof towards the re-payment of all the outstanding from the Borrower to the Lender under this agreement.
14.7	If the sale proceeds are not sufficient to meet all the dues of the Lender, the Borrower shall be liable to pay for any deficiencies after the said appropriation. In case there is any surplus after adjusting the amount to be received by the Lender without any loss, the same shall be re-funded to by borrower. Nothing contained in this article shall oblige the Lender to seize or sell the Asset and the Lender shall be entitled to proceed against the borrower or Co-obligant(s), if any, independently of such security, particularly when the Lender is deprived of seizing the Asset for any reason whatsoever.
14.8	The Borrower shall not be entitled to raise any objections regarding the regularity of the sale or action taken by the Lender nor shall the Lender be liable / responsible for any loss that may be occasioned from the exercise of such power and / or may arise from any act or default on the part of any broker or auctioneer or other person or body engaged by the Lender for the said purpose.
14.9	The Lender shall be entitled to recover from the Borrower all expenses (including legal cost on full indemnity basis) incurred by or on behalf of the Lender in ascertaining the whereabouts of the Asset, taking possession, garaging, parking, insurance, transporting and selling the Asset and of any legal proceedings that may be filed by or behalf of the Lender to enforce the provisions of the agreement. It is expressly clarified that the remedies referred to hereinabove shall be in addition to and without prejudice to any other remedy available to the Lender either under this agreement, or under any other agreement/ undertaking or in law or equity.
14.10	Notwithstanding anything to the contrary contained in the Indian contract Act, the Lender or his officers, agents or nominees shall not be in any way responsible for any loss, damage, limitation, or depreciation that the hypothecated asset may suffer or sustain on any account whatsoever whilst the same is in possession of the Lender or its officers, agents or nominees or because of exercise or non exercise rights, powers, or remedies available to the Lender or its officers, agents or nominees and all such loss, damage, depreciation shall be debited to the account of the Borrower howsoever the same may have been caused.
14.11	In an extraordinary event of seizure that may have occurred due to long arrears in instalments or by conflict with Lender or any amount / charges / legal amount paid for the possession of the Asset, the Lender has the right to not inform the Borrower about the seizure and sale of the Asset nor any prior intimation will be given to Borrower. 
14.12	The Lender without prejudice, and it is acknowledged by the Borrower that in case of any default in repayment of the Loan, the principal, interest, or any other dues /charges, the Lender shall have the right to disclose all the details of the Borrower, including photo and identity proof to any credit agency / financial institution / any person deemed fit by the Lender mentioning the Borrower as a “wilful defaulter”.
1000 COPIES / LEDGER SHEET | FRONT
Signature of Borrower
fl‹jhu®
Signature of Co-obligant 1
ïiz fl‹jhu® 1
Signature of Co-obligant 2
ïiz fl‹jhu® 2


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ARTICLE 15
GUARANTEE
	If the Lender requires, the Borrower shall furnish guarantee(s) issued by a third party acceptable to the Lender, as and by way of additional security, in the form provided by the Lender.
ARTICLE 16
PREPAYMENT
	If the Borrower desires to prepay the loan without any previous delay in the instalments, earlier than as indicated in the Second Schedule, foreclosure / prepayment charges as indicated in the first schedule shall be payable by the Borrower on the Loan amount on the date of such foreclosure/prepayment in addition to the loan. The prepayment shall take effect only when cash has been paid in or cheques have been cleared.
ARTICLE 17
SECURITISATION
	The Borrower expressly recognizes and accepts that the Lender shall be absolutely entitled and has full power and authority to sell, assign or transfer in any manner, in whole or in part, and in such manner and on such terms as the Lender may decide including reserving a right to the Lender to retain his power hereunder to proceed against the 

	Borrower on behalf of the purchaser, assignee or transferee, any or all outstanding and dues of the Borrower, to any third party of lender’s choice without reference to or; without written intimation to the Borrower. Any such action or any such sale, assignment or transfer shall bind the Borrower to accept such third party as creditor as exclusively or as a joint creditor with the Lender, or as a creditor with the right to the Lender to continue to exercise all powers hereunder on behalf of such third party and to pay over such outstanding and dues to such third party or to the Lender as the Lender may direct. The borrower acknowledges and undertakes to pay to third parties the difference between the Loan amount outstanding and the Loan amount received by the Lender in the event of transfer of portfolio to a third party. The third party shall have authority of the borrower(s) to collect the due amounts.
ARTICLE 18
LENDER’S RIGHT TO APPOINT AGENCY
	The borrower expressly recognises and accepts that the lender shall, without prejudice to his right to perform such activities himself or through his officers or servants, be absolutely entitled and shall have full powers and authority to appoint one or more third parties of the Lender’s choice and to transfer and delegate to such third parties the right  and authority to collect on behalf of the Lender the instalments / interest other charges due to the Lender under this Agreement and to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto including sending notices of demand, visiting  the residence or the office of the Borrower or otherwise con-tacting the Borrower for receiving the due amount or seizure of the hypothecated asset.

ARTICLE 19
SET-OFF AND LIEN
19.1	Notwithstanding anything contained in this Agreement, the Lender shall have a lien over all the Assets of the Borrower(s) in the Lender’s possession and control and a right of set off against any monies due to the Lender from the Borrower and to combine all accounts of the Borrower(s) for recovery of the Lender’s dues hereunder.
19.2	The Borrower agrees to the right of the Lender to retain and hold all the securities and documents , photo till repayment of entire dues or till realization of outstanding amount of loans subject to any legitimate right, claim or lien or any other claim the Lender may have against the Borrower. The Lender shall be entitled to retain the securities, documents, photo till all the claims are settled or paid subject to the notice to the Borrower with particulars about the remaining claims.
19.3	It is hereby agreed and understood by the Borrower that, in the event of Borrower(s) defaulting in payment of the instalments/charges/fees, without prejudice to the right of termination, the Lender shall have the right to set-off the amount in the Borrower’s account that it may be holding with the Lender with the amount in respect of which the default has been committed under this agreement.

ARTICLE 20
NOTICES
20.1	A certificate / notice in writing signed by an officer of the Lender stating the amount at any particular time due shall be conclusive evidence both against the Borrower and Co-obligant(s), if any.
20.2	Any change in address of the Borrower, shall be notified to the Lender in writing by registered post within one week. Any notice, letter and other documents shall be sent to the address as stated in this Agreement, or the address notified by the Borrower, by registered post with acknowledgement due or by post or buy courier or by any other means of transmission of documents like fax message or electronic mail ser-vice. The notice, letter, other documents sent by registered post with acknowledgement due or by post shall be deemed to have been re-ceived by the addresses 48 hours after it has been despatched.
20.3	In all correspondence, the Agreement number / vehicle number should be quoted.
20.4	All correspondence shall be addressed to the Lender mentioned in the description of the parties appearing in the preamble to this Agreement.

ARTICLE 21
PARTIAL INVALIDITY
	If any provision of this agreement or the application thereof to any person or circumstances shall be invalid or unenforceable to any extent for any reason including by reason of any law or regulation or government policy, the remainder of this agreement and the application of such provisions to persons or circumstances other than those as
	to which it is held invalid or unenforceable shall not be affected thereby, and each provision of this agreement shall be valid and enforceable to the fullest extent permitted by law. Any invalid or unenforceable provision of this Agreement shall be replaced with a provision, which is valid and enforceable and most nearly reflects the original intent of the unenforceable provision, in a mutually agreeable manner.

ARTICLE 22
LAW, JURISDICTION, ARBITRATION
22	a)	All disputes, differences and /or claim arising out of or in connection with this agreement whether during its subsistence or thereafter shall be settled by arbitration in accordance with the provision of the Arbitration and conciliation Act, 1996. Or any statuary amendments thereof and shall be referred to the sole arbitration of an arbitrator nominated by the lender. The award given by such an arbitrator shall be final and binding on the parties to this agreement.
	b)	It is a term of this agreement that in the event of such an arbitrator or whom the matter has been originally referred dying or being unable to act for any reason, the Lender, in such circumstances, shall appoint another person to act as arbitrator. Such a person shall be entitled to proceed with the reference from the stage at which it was left by his predecessor.
	c)	The venue of arbitration proceedings and jurisdiction shall be at _________________________
	d)	The arbitrator so appointed by herein above, shall also be entitled to pass an award on hypothecated asset and also on any other securities furnished by or on behalf of the Borrower.

ARTICLE 23
ENTIRE AGREEMENT
	This agreement (including the first and the Second Schedules) along with the documents executed or to be executed by the Borrower in favour of the Lender pursuant to this Agreement shall constitute the entire Agreement between the parties hereto with respect to its subject matter.

ARTICLE 24
DISCLOSURE BY LENDER
	It is acknowledged by the Borrower that the Lender shall be entitled to make such enquires about the Borrower by themselves or through their authorised person and also to disclose the information pertaining to the Borrower to any credit bureau, or other persons as the Lender may deem fit, and the Borrower hereby agrees and undertakes not to dispute or question the same in any manner whatsoever. The Borrower unconditionally agrees and acknowledges that, in any case of events of default or default in the repayment the principal, interest or any other dues on the due dates, the Lender shall have right to disclose details of the default and any other information and the name of the Borrower as “wilful defaulter”.
Back
Signature of Borrower
fl‹jhu®
Signature of Co-obligant 1
ïiz fl‹jhu® 1
Signature of Co-obligant 2
ïiz fl‹jhu® 2



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ARTICLE 25
TERM AND TERMINATION

	This agreement shall come into effect from the date of this agreement and shall terminate only upon the Borrower making full repayment to the Lender of the Loan, interest thereon and all other charges and dues payable by the borrower. In case of sale of repossessed asset, the termination of the loan will take effect only after there is no loss in principal, interest, and other charges to the Lender.
ARTICLE 26
MISCELLANEOUS	

26.1	Any letter or statement exchanged between the parties herein with reference to this agreement shall be treated as part and parcel of this agreement.
26.2	Amendments:-	No modification or amendment of the terms of this agreement except to the alteration or reschedulement  of the instalments as provided under article 2.8(a) herein and no waiver of any of the terms or conditions hereof shall be valid or binding unless made in writing and duly executed by the lender and the Borrower.
26.3	Cumulative Rights: -	All remedies of the Lender under this agreement whether provided herein or conferred by statute, civil, law, common law, custom, trade are cumulative and not alternative and may be enforced successively or concurrently.
26.4	Benefit of the Loan Agreement: -	The Loan Agreement shall be binding upon and to ensure to the benefit of each party thereto and its successors or heirs, administrators, as the case may be.
26.5	Any delay in exercising or omission to exercise any right, power or remedy accruing to the Lender under this agreement or any other agreement or document shall not impair any such right, power or remedy and shall not be construed to be a waiver thereof or any acquies-cence in any default, nor shall the action or inaction of the Lender in respect of any default or any acquiescence in any default, affect or impair any right, power or remedy of Lender in respect of any other default.
26.6	The Borrower(s) and Co-obligant(s) liability under this Agreement shall be joint and several.

ARTICLE 27
ACCEPTANCE
	The Borrower hereby declares as follows:

27.1	He has read the entire Agreement and the details given in the Schedules. He shall be bound by all the conditions of the Agreement.
27.2		This Agreement and other documents have been explained to his in the language understood by him and he has understood the entire meaning of all the clauses herein.
27.3		He agrees that this agreement shall be concluded and become legally binding on the date when the Borrower signs this Agreement.
27.4	In this entire Agreement he has not signed any blank pages or blank documents.
27.5	In case of any doubts in any of the clauses or Article in this Agreement arising after the signing of this Agreement, the Borrower shall purchase the model copy of the hypothecation Agreement from the Lender and clarify it with any Legal advisor the Borrower may deem fit.






...........................................................
Signature of Borrower
fl‹jhu®




...........................................................
Signature of Co-obligant1
ïiz fl‹jhu® 1



	
.........................................................	
Signature of Co-obligant2
ïiz fl‹jhu® 2


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SALE   LETTER
Place :
FromDate  :
..............................................................................
..............................................................................
..............................................................................
To
..............................................................................
..............................................................................
..............................................................................
Dear Sirs,
I / We have this day sold to you my / our undermentioned Motor Vehicle/s and enclose My / our
stamped Receipt for Rs..............................(Rupees..............................................................................) Sales Tax
and any other Taxes in respect of this sale will be payable by me.
MAKE OF VEHICLEMODELREGN No.
Thanking you,  Yours Faithfully,
X
1000 COPIES / WHITE PRINTNG | SINGLE  SIDE
12-06-2013
X
FromDate  :
..............................................................................
..............................................................................
..............................................................................
To
..............................................................................
..............................................................................
..............................................................................
Dear Sirs,
Ref :...........................................................
As I am not able to pay the 
 Hypothecation
 instalments due to your in respect to  the  
 Hypothecation
 Agreement
executed by me on...............................................................................for the above vehicle bearing
Registration No.........................................Engine No .............................................................
....Chassis
No......................................................... I/We  here by surrender the said vehicle to you which is your
absolute sole property. I/We further request you to kindly terminate the contract and sell the above said
vehicle in the market at my/ our risk and recover your dues and refund the balance in any to me.
In case after the sale of the vehicle by you, if any amount still remains to be paid I /We hereby undertake
to pay the same to you on demand.
மேற்கண்ட வண்டிக்கு என்னால் பணம் செலுத்த இயலாத காரணத்தினால் வண்டியை தங்களிடம் ஒப்படைக்கிறேன்.
தாங்களு, வண்டியை விற்றுவிட்டு என்னுடைய கணக்கை முடித்துக்கொள்ளும்படி கேட்டுக்கொள்கிறேன்.
Thanking  you,
  Yours Faithfully,
  
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 <p style="page-break-before: always"> 
  
  
  
  
FORM - 29

[ See Rule - 55 (1)]
FORM OF NOTICE OF TRANSFER OF OWNERSHIP OF A MOTOR VEHICLE
(To be made in duplicate and the duplicate copy with the endorsement of  the registering authority to be
returned to the  transferor immediately on making entries of transfer ownership)
To
The Registering Authority
....................................................................................................
.................................................................................................... ( in whose jurisdiction the transferee
....................................................................................................resides)
I / We.........................................................................................................................
...................................................
residing  at...................................................................................................................
...................................................
have on the.......................................................day of the year..................................................sold and delivered
My / our vehicle No........................................Make................................................................
...............................
Chassis No.......................................................Engine No.....................................................
.................................
to Shri / Smt..................................................................................................................
................................................
(name) Son / Wife / daughter of................................................................................................
.............................
residing  at...................................................................................................................
...........................................
(House No. Street, Village / Town Dist and State)
The Registration Certificate and insurance Certificate have been handed over to him / her / them
Date :
c.c.Signature of the Registered Owner
            (Transferor)
................................................................................................................................................................................
(Transferee)
Copy to the Registering Authority in whose jurisdicate the transferor resides.
NOTE :to be sent to the Registering Authority by Regd. Post Acknowledgment due.
OFFICE  ENDORSEMENT
No..................................................Date.....................................Office of the.....................
...................................
The ownership of the vehicle has been transferred to the name of...............................................................
............
with effect from..............................................................(date)
Registering Authority
                                  (Office  Seal)
To
..............................................................................
..............................................................................
..............................................................................Strike out whichever is inapplicable
(The Transferor)
By registered post or under proper acknowledgment.





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FORM - 30

[ See Rule - 55 (2) and (3)]
Report of  transfer of ownership of a Motor Vehicle
PART 1 - FOR THE USE OF THE TRANSFEROR
(To be made in duplicate if the vehicle is held under an agreement of  Hire Purchase / Hypothecation / Lease
and the duplicate copy with the endorsement of the registering authority to be returned to the financier simul-
taneously on making the entry of transfer of ownership in the Certificate of Registration)
To
The Registering Authority
.................................................................................................................................................................................
Name of the Transferor.........................................................................................................
..................................
Son / Wife / Daughter of.......................................................................................................
....................................
Full Address...................................................................................................................
........................................
I here by, declare that I / We have on this...........................................day of the year..........................
.................
sold my / our motor vehicle bearing registration mark..........................................................................
.................
Shri / Smt.......................................................................................Son / Wife / Daughter of .....
...........................
.............................................................residing at.......................................................
............................................
............................................................................(full address) and handed over the certificate of r
egistration
and the certificate of insurance to him / her / them.
I / We hereby declare that to the best of my / our knowledge, the certificate of registration of the vehicle has
been / has not been suspended* or cancelled.
*I enclose the “No Objection Certification” issued by the Registering authority.
**If the “No Objection Certificate” from the registering authority is not enclosed, the transferor should file
along with this application a declaration as required under sub - section (1) of section 50.
(......................................................)
Signature of the Transferor      
.
Date..............................
*Details of suspension or cancellation
**Strike out, Whichever is inapplicable
PART - II  - FOR THE USE OF TRANSFEREE
To
The Registering Authority,
..........................................................................
Name of the Transferee
Son / Wife / Daughter of
Full Address
(Proof of address to be enclosed)
I hereby, declare that I / We have on this...................................day of ...........................................
...........the year
.................................purchased the motor vehicle bearing registration num-ber.......................................
.............
from.........................................................................................................................................................................
(name and full address) and request  that necessary entries regarding the transfer of ownership of  the vehicle in
my / our name be recorded in the certificate of registration / certificate of fitness of the vehicle, which is
enclosed.
The certificate of insurance is also enclosed.
......................................................
(Signature of the Transferee)   
.
Specimen Signature of the transferee
1)
2)
X




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2
Consent of the financier in the case of / Motor vehicle subject
to an agreement of Hire Purchase / Lease / Hypothecation
I / We being a party to an agreement  of  Hire Purchase / Lease / Hypothecation  in  respect  of  Motor
vehicle..................................give consent to the transfer of ownership of the said vehicle to Shri / Smt. / Kumari
............................................................with whom I / We have entered into an agreement of Hire Purchase /
Lease / Hypothecation.
Date :.............................................................
(Signature of  Financiers)       
.
OFFICE  ENDORSEMENT
No.....................................Dated.....................................office of the.................................
....................................
.................................................................................................................................................................................
The transfer of ownership of vehicle has been recorded with effect from........................................................
.....
On the registration Certificate of the Vehicle.............................................................and in the registrat
ion record
of this Office.
Registering Authority
To
.................................................................
.................................................................
.................................................................
(Name & address of the  Financier)
By registered post or delivered under proper acknowledge.



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FORM - 34

[ See Rule - 60 ]
APPLICATION FOR MAKING AN ENTRY OF AN AGREEMENT OF HIRE PUR-CHASE / LEASE
/ HYPOTHECATION SUBSEQUENT TO REGISTRATION
(To be made in duplicate and the duplicate copy with the endorsement of  the registering authority to be
returned to the  financier simultaneously on making the entry in the certificate of registration)
To
The Registering Authority
The motor vehicle bearing registration numberis the subject of  an
agreement of hire purchase / Lease / Hypothecation between
the registered owner / person to be registered as owner* and
(fill the name and full address of the financiers)
We request that an entry of the agreement be made in the certificate of registration and the relevant
records in your office.
The certificate of registration together with the fee is enclosed.
Dated :Signature of Registered Owner
Date :
*Strikeout  whichever is inapplicableSignature of the Financiers
OFFICE ENDORSEMENT
NumberDated           office of  the
The entry of the agreement of hire Purchase / Lease / Hypothecation as requested above is recorded in
the office Registration Record in Form 24 and certificate of Registration on.
Dated :Signature of the Registering Authority
To
(Name & Address of the Financiers)
By Registered post or delivered under acknowledgment.


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