memorandum of deposit

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  • 8/11/2019 Memorandum of Deposit

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    Dated September 18, 2014

    BankIslami Pakistan Ltd.

    Circular Rad Branc!, La!re

    "#"$R%&D'" $( D#P$SI) $( )I)L# D##D

    I, S!a!id &isar S* &isar %!med, !ldin+ C&IC & -2022/8/-1, "uslim %dult,

    resident use 3 -, C1, (aisal )n , La!redo hereby confirm that I have earlier

    deposited with you the Title Deeds (as per Schedule hereunder) relating to my property

    specified in Schedule II ("rt+a+ed prpert5) with intent to create an equitable mortgage

    in your favor in respect thereof and all building and construction thereon along with all rights

    of easements and appurtenances and all our rights title and interest comprised therein as

    security for repayment to you of the entire financial facilities granted to "*s )ime

    C!emicals Cmpan5 a proprietorship concern having its office at 1 Circular Rad

    6near S!a!alam telep!ne e7c!an+e, La!re by "*s. BankIslami Pakistan Limited

    having its registered office at !!th floor Dolmen "ity #arine Drive "lifton $arachi and

    %ranch office at "ircular &oad 'ahore (BIPL) vide "uraba!a! %+reement dated

    September 18, 2014and the other greements ("ollectively the "uraba!a! (inance

    (acilit5) and all outstanding and dues that may at any time become due to you from "*s

    )ime C!emicals Cmpan5 in terms of documents eecuted in relation to the said

    *inancing *acilities up to a maimum ofRs. 28,-,000*9 6Rupees )ent5 #i+!t "illin

    )!ree undred Se:ent5 (i:e )!usand nl5 plus all costs charges epenses and

    charity if any that may be payable to you+

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    t the time of deposit of the title deeds I stated orally (which statement I hereby irrevocablyconfirm and record in writing),

    i+ that I am holding the legal title the #ortgaged property with full powerand right to transfer and encumber our interests therein-

    ii+ that the title deeds deposited as aforesaid are the only documentsrelating to the #ortgaged property+

    iii+ That I shall not create any further encumbrance upon or in respect ofthe #ortgaged property with out the prior written consent of %I.'+

    Sc!edule I

    !+ Sale Deed dated !!/0/1223 eecuted by the griculture and+ Transport Development"orporation (through its 4eneral #anager) in favour of Shahid 5isar son of 5isar hmed

    which was registered in the 6ffice of the Sub/&egistrar7DD6(&egistration) llama IqbalTown 'ahore as Document 5o+!2889 %oo: 5o+! ;olume 5o !3

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    Sc!edule II

    (Description of mortgaged property)

    ll that piece and parcel of land comprised in $hasra 5o+ 38