3299

Form No. 4

Mortgage of Ship by body

Corporate to Secure a Loan
(PAR TICULARS OF THE SHIP)
_______________________________________________________________________
Official No.
Name of Ship
No. year and port of registry
_______________________________________________________________________
_______________________________________________________________________
Whether a sailing, steam
Horsepower of engines, if any
or motor ship
_______________________________________________________________________
_______________________________________________________________________

feet
Tenths
Length from fore part of stam to the
shaft side of the head of the stern Post
Main breadth to outside of plating
Depth in hold from tonnage deck
to ceiling amidships
_______________________________________________________________________
Number of Tons
_______________________________________________________________________
Goss...
Register
_______________________________________________________________________
and as described in more detail in the certificate of Surveyor and the
register book.
WHEREAS
1. We A B & Co. Ltd., a company registered under the Companies Act,
1956, and having our registered office at ... have entered into an agreement
this ... day of ... with Bank of ... a banking Corporation constituted under
the Banking Companies (Acquisition and Transfer of Undertakings) Act,
1970 and having its Head Office at ... whereunder we have borrowed and
the Bank has lent and advanced a sum of Rs... repayable with interest at
the rate of Rs... per cent per annum and on the terms and conditions in
the said agreement mentioned.
2. By the said agreement, we, A B & Co. Ltd., have agreed to mortgage the ship particulars of which are mentioned above as a security for
repayment of the said amount with interest and other moneys as therein
mentioned and to execute a deed of mortgage in the manner following.

3300

MORTGAGE OF SHIP BY BODY CORPORATE TO SECURE A LOAN

Now, we, A B & Co. Ltd., in consideration of the premises, for ourselves
and our successors covenant with the Bank (Mortgagee) and its successors
and assigns to repay the said amount of Rs... with interest as aforesaid
and on the other terms and conditions contained in the said agreement.
And for the purpose of better securing to the said Bank the payment
of such sums as last aforesaid we A B & Co. Ltd., do hereby mortgage
to the said Bank ... shares, of which we are owners in the ship above
particularly described, and in her boats, guns, ammunition, small arms,
and appurtenances.
Lastly, we for ourselves and our successors covenant with the said
Bank and its assigns that we have power to mortgage in manner aforesaid
the abovementioned shares and that the same are free from encumbrances
(or save as appears by the registry of the said ship)
IN WITNESS WHEREOF we A B & Co. Ltd., have hereunto affixed our
common seal this ... day of ...
The Common seal of M/s AB & Co. Ltd. the within
named Mortgagor Company is hereto affixed

pursuant to the resolution of the Board

of Directors dated ... in the presence

of Mr... Managing Director and

countersigned by Mr... a Director/

Secretary, duly authorised by the said

resolution and who in token thereof have

put their signatures opposite in the

presence of ...

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Note : As the mortgage takes its priority from the date of registration in
the registry, and not from the date of the instrument, it is necessary to register
this deed immediately.
Stamp Duty: Under S.3(2) of the Indian Stamp Act stamp duty on this
document is fully exempted. State Acts contain similar exemption.
Registration. This document is required to be registered with the Registrar
under the Merchant Shipping Act, 1958. It is not required to be registered under
the Registration Act, 1908.
Stamp Duty, eStamping & Registration : See the Indian Stamp Act, 1899
(2 of 1899), Rates of Stamp Duty in various States, eStamping and Compulsorily
& Optionally Registrable Documents under the Registration Act, 1908 (16 of
1908) in respective later Part/Chapters on Stamp Duty, eStamping & Registration of Deeds & Documents.