REPCO BANK LTD

Goturuvari Agraharam,,Nellore-524 001

355
LNNO : NLR000355 DATE : 14-02-2024
To
Mr/Ms/M/s. PABBISETTY MURALI
KRISHNA
27-2-753B,
A C NAGAR,
NEAR VINAYAKA TEMPLE,
NELLORE,,524002
Dear Sir,
Sub: Sanction of Credit facilities to Mr/Ms/M/s. PABBISETTY MURALI KRISHNA
Ref:Your application dated 12-02-2024
With reference to the above, the Sanctioning Authority is pleased to sanction the following credit facilities
1. Name of the Borrower : Mr/Ms/M/s. PABBISETTY MURALI KRISHNA
Membership No / CustomerID : A071NR0000004563
2. Co-borrower Details : Name Membership No
Mr/Ms/M/s. PABBISETTY TEJA SRI A071NR0000004568
3. Surety Details : Name Membership No
Mr/Ms/M/s. VULCHI HARI KIRAN A071NR0000004564
4. (a) Facilities sanctioned :
Nature of Amount in Rs. Floating ROI Total Moratorium Repayment Valid Upto EMI for
Loan in (%) repayment period in period in proposed
(Subject to period in months months loan in Rs.
change from months (excluding
time to time) moratorium)
REPCO 1000000 10.50 120 0 120 13493
SURABHI TL
Amount In words : Ten Lakh only
4. (b) Repayment Schedule : The proposed loan amount shall be repayable in 120 EMIs.
5. Security Details : 1. Pabbisetty Murali Krishna shall execute registered simple mortgage for loan
amount of Rs.10.00 Lakh over the property situated at SPSR Nellore Registration
District, Stonehousepet SRO, Nellore Municipal Corporation Limits, Nellore Bit-II,
Patta No.2115, Survey No.428, Nawabpet, Krishna Nagar, Ward No.2, measuring an
extent of 10 ankanams in the southern side of Plot No.6 of total extent 21 Ankanams
36 sq. ft site and building thereon bearing Door No.4-8-361, Assessment No.
1031123124.
2. Hypothecation of stock in trade and furniture and Fittings.
3. Lien shall be marked on the be marked on Proposed RD or CC (CC for 5% of
Loan amount or RD maturity amount shall be less than 10% of loan amount).
4. Personal surety.
6. Purpose : Purchase of Residential Property.
7. Sector Code and Sector Name : 33 - Housing Loan
8. Release Schedule : The loan amount shall be release directly to the vendor of property through Cheque,
NEFT, RTGS after getting written letter from the borrowers.
9. The borrower shall remit the following fees before release of the loan :
a) Service / Processing fee : 10,000
b) Valuation fee : 2,500
c) Others : 0
Total : 12,500
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* Applicable GST as per Circular shall be collected.
10. Conditions applicable to Secured Term Loans/Secured Overdraft Limit:
1)This LSO is valid for 90 days from the date of sanction. In case of delay, suitable revalidation shall be obtained by paying necessary
charges.
2)The borrower shall produce PDCs/ECS/NOSB mandate covering EMI/Interest/loan dues before release of loan.
3)The loan is sanctioned subject to the terms and conditions contained in the documents to be executed by the borrower/Guarantor.
4)Penalty at normal rate interest will be levied on overdue Equated Monthly Instalments in case of default in the repayment of loan.
5)In case of foreclosure of loan/expiry of loan limit the rate of interest shall be 3% per annum more than normal rate of interest from the date
of foreclosure/expiry.
6)In case of overdrawal of amount/ exceeding the limit the interest will be 2% more than the normal interest charged for the limit on the
overdrawn /exceeded amount.
7)Pre-closure/takeover of the loan would attract additional interest as determined by the bank from time to time. Presently the additional rate
of interest is 4%. Such other rates as stipulated by the Bank on deviations from terms of sanction from time to time shall also be collected.
8)Rate of interest is subject to revision at the discretion of the Bank. A notice displayed in the banks notice board in this regard is deemed to
be sufficient notice to the borrower, surety and mortgagor.
9)All the original documents of the property offered as security shall be deposited with Bank before release of loan.
10)The Borrower shall produce latest property Tax paid Receipt and Electricity Board receipt and copy of Electricity Board Connection Card
before availing the loan and also periodically as stipulated by the Bank till the closure of the loan.
11)The stock-in-trade and machineries existing and proposed to be purchased and the building property existing and proposed to be
constructed/purchased should be insured by the borrower for full value of the asset against fire, riot, civil commotion risks and against flood.
12)Insurance policy should be taken with bank clause and original certificate shall be deposited with the bank. Insurance renewal shall be
taken by the borrower at his/her cost. Bank is at liberty to pay the premium by debiting his/her account. However Bank is not responsible for
non-renewal or non-admission of claim by insurance Company.
13)All additions to the buildings mortgaged will also become part of the security for the entire loan.
14)The bank has every right to inspect the property mortgaged at any time during the pendency of the loan.
15)The borrower shall maintain properties mortgaged in good condition. The borrower should undertake substantial repairs to the premises
mortgaged.
16)In the event of failure to carry out any repair or to keep the insurance in force, the bank may itself do or cause them to be done and incur
the expenditure necessary therefor. The expenditure so incurred will be recovered from the borrower.
17)The borrower should pay all taxes, fees, charges, etc., in regard to mortgaged property/ies.
18)The borrower should produce an up to date Encumbrance Certificate before release of loan. He should produce another Encumbrance
Certificate, after registering the mortgaged deed with an entry of charge created in favour of the bank.
19)The borrower shall submit Encumbrance certificate and valuation reports periodically for the land and building security property as
stipulated by the bank till the closure of the loan. However, Bank is at liberty to obtain Encumbrance Certificate and fresh valuation of
security property by debiting his/her account.
20)The borrower should not borrow from any other bank/Financial institution without the prior written consent from the Bank.
21)Without prejudice to any other mode of recovery, the loan with interest and other charges are recoverable as per the provisions of the
Multi-State Cooperative Societies Act 2002.
22)Bank is at liberty to disclose the information about the borrower and loans to any other Agency/Financial Institution, etc.,
23)The Bank reserve to itself the right to modify or alter or amend the terms and conditions and also stipulate additional or new terms and
conditions from time to time, which will be binding on existing facilities as well.
24)Bank reserve the rights to create charge over the securities offered by the borrower with any other Agency/Institutions/ Banks for the
purpose of availing facilities.
25)Bank reserves the rights to invoke the provisions of any applicable Act/Law for recovery of dues as Secured Creditor.
26) Family genealogy statement of the mortgagors/borrower shall be produced.
27) EMI shall vary depending on the final disbursement and commencement of EMI.

Specific Conditions:
1. PDC shall be obtained for EMI amount.
2. EC shall be obtained including our bank entry.

BM / AGM / DGM / JGM / GM

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Copy to : The Branch Head,Branch : NELLORE

a)All precautions/suggestions/requirements as per legal opinion and HO legal clearance shall be strictly complied with before/after release of
loan as per the stipulated norms.
b)Branch shall ensure that all the terms and conditions of the earlier sanction/inspection defects, if any shall be complied/rectified prior to
release of loan.
c)An undertaking from the borrower to get the deviation in the construction regularized from the Competent Authorities within 6 months shall
be obtained and an Indemnity Bond to indemnify the Bank for any loss that may be caused to the bank in respect of any unauthorized
structure / deviation from plan approval shall be obtained.
d)As per HO’s letter MIS.101/2011/CD, dated 13.06.2011 PAN number of the Applicant/Co-applicant/Guarantor should be obtained before
release of the loan.
e)Branch shall verify the applicants and Guarantors KYC documents and copy of the same mentioning verified with originals signed by
Branch Head/credit officer should be kept in file.
f)Branch shall verify the applicants and Guarantors Business proof and ensure the validity of the same.
g)Branch shall ensure that the security and its coverage is as per norms prescribed in HO’s circulars / letter issued in this regard prior to
release of loan.
h)Branch shall ensure the genuineness of approvals (land & building), revenue records and property tax receipts prior to release of loan.
i)Branch shall also ensure that the offered securities have marketability, demarcation, accessibility and legally enforceable prior to release of
loan.
j)Branch shall ensure that Survey Numbers, Door No, Street Name, Village Name and other credentials of the property to be mortgaged in
accordance with sale deed, patta and property tax receipts are correctly appended in mortgage deed and loan agreement.
k)Branch shall obtain an up to date EC and ensure that there is no encumbrance prior to creation of mortgage in favour of our Bank with
regard to new property/ies and in case of existing property/ies, the Branch shall ensure there is no encumbrance other than our mortgage over
the existing property/ies and offered as security prior to release of loan.
l)Branch shall comply Conditions vide HO Cir No.53/2011/03/LARD, dt.19.07.2011 mortgage formalities/Stamp Duty/Registration.
m)Branch shall verify Title deeds of the security property with the Sub-Registrar for genuineness as per guidelines vide Cir.43/2005/23/TDD,
dt.12.09.2005 if not already done at the time of entertainment of loan proposal.
n)As per HO Circular Letter, MIS No.73/2015-16/CD dtd 01.12.2015. Documentation shall be cleared by panel advocate before execution,
where the total exposure exceeds Rs.100.00 lakh (Hard copies of draft executing documents shall be sent to our Bank panel advocate for
vetting)
o)Branch shall ensure guidelines with regard to registration of our security interest are complied and duly registered with CERSAI within the
stipulated time.
p)RCB-120/RCB120 A shall be obtained from the mortgagor/s before release of loan.
q)All mortgage formalities shall be completed before release of loan.
r)BCS should be sent within 7 days of first release. Branch shall ensure end utilisation and send EUC within 30 days of first release.
s)All other usual terms and conditions as applicable to scheme shall be strictly adhered.