MORTGAGE DEED

Rs.120,000/=
(Rupees One Hundred Twenty Thousand Only)

THIS MORTGAGE DEED is made and entered into at Multan this _______ day of
_______ 2024.

BY

Mr. Muhammad Taqi Shaukat Zaidi son of Mr. Syed Abu Abdullah Shaukat Zaidi
holder of Computerized National Identity Card No.36302-7186524-7 presently residing
at House No. 535-C, Mohalla Gulgasht Colony, Multan (hereinafter referred to as the
“Mortgagor(s)” and/ or the “Customer” which term shall mean and include his/her/its
legal heirs, legal representatives, successors and permitted assigns);

IN FAVOUR OF

Bank AL Habib Limited, a banking company incorporated under the laws of the Islamic
Republic of Pakistan and having its registered office at 126-C, Old Bahawalpur Road,
Multan and a place of business at Hussain Agahi Road Branch, Multan (hereinafter
referred to as the “Bank”, which expression shall where the context so admit mean and
include its successors-in-interest and assigns).

WHEREAS, the Mortgagor is seized and possessed of and otherwise lawfully well and
sufficiently entitled to all that piece and parcel of land, more particularly described in the
Schedule hereto (hereinafter referred to as the "Property”);

AND WHEREAS, at the request of the Mortgagor, the Bank has provided/agreed to
provide finances as defined in the Financial Institutions (Recovery of Finances)
Ordinance, 2001 (hereinafter referred to as the “Finances”) from time to time to
Mr. Muhammad Taqi Shaukat Zaidi son of Mr. Syed Abu Abdullah Shaukat Zaidi
(hereinafter referred to as the “Customer”/ Staff/the Mortgagor inter-alia, against the
security of a mortgage of the Property;

AND WHEREAS, the Mortgagor has agreed to create a mortgage charge on the Property
for the purpose of securing the repayment of the Finances agreed to be extended from
time to time to the Customer/ Mortgagor by the Bank.

NOW THEREFORE, THIS DEED OF MORTGAGE WITNESSETH AS FOLLOWS:

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1. In consideration of the Bank providing/agreeing to provide to the Customer/
Mortgagor the Finances as aforesaid, the Mortgagor does hereby mortgage the
Property to the Bank to hold the same until the payment/ repayment of all
moneys/amounts due to the Bank from the Customer/ Mortgagor under the
relevant documents executed by and between the Customer/ Mortgagor and the
Bank in relation to the Finances or otherwise.

2. The Mortgagor shall pay/ensure repayment of all sums due and payable to the
Bank by the Customer/ Mortgagor in accordance with the terms and conditions
specified in the financing agreement(s) or any other documents executed by or
between the Bank and the Customer/ Mortgagor from time to time in respect of
the Finances.

3. The Property is free from all claims, liens, encumbrances and charges of
whatsoever nature except as already disclosed in writing to the Bank and the
Mortgagor shall not in any way allow or permit anything to be done in respect of
the Property so as to make the Bank’s rights therein liable to be extinguished or in
any way impaired and shall keep the Property free from all charges and
encumbrances of whatsoever nature.

4. The Mortgagor has full rights and absolute authority to create this mortgage
charge on the Property by execution of this Mortgage Deed to secure the
repayment/payment of all sums/ amounts due to the Bank by the Customer/
Mortgagor as are reflected in the books of accounts maintained by the Bank as
outstanding, due and payable by the Customer/ Mortgagor to the Bank and which
have remained unpaid.

5. The Mortgagor during the continuance of the mortgage shall keep the Property
adequately insured with an insurance company approved by the Bank against
damage by fire and such other risks as the Bank may require from time to time
with the Bank named as loss payee and the Mortgagor shall pay the premia as and
when due and shall pass on the original policy(ies) of insurance and premia
receipts to the Bank. In case the Mortgagor fails or omits to effect such insurance
or to pay any such premia the Bank may obtain the insurance and pay the premia
on behalf of the Mortgagor and the sums so expended plus an addition of 20%
thereto as liquidated damages shall be due from the Customer/ Mortgagor to the
Bank.
6. Upon the happening of any of the events mentioned below, the Customer/
Mortgagor shall become liable for immediate payment to the Bank of the amount
due and the Bank shall be entitled to serve written notice upon the Customer/
Mortgagor calling upon him to pay immediately the amount due and payable by
the Customer/ Mortgagor to the Bank, and thereafter in case the Customer/
Mortgagor fails to pay the amounts demanded by the Bank this mortgage security
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may be enforced by the Bank in accordance with law for the recovery of all
amounts due to the Bank.

(i) If any amount due from the Customer/ Mortgagor in respect of the
Finances is not paid when due or upon demand being made by the Bank;
or

(ii) If the Property is damaged or diminishes in value which has or is likely to

impair the security hereby given; or

(iii) If the Customer/ Mortgagor goes into voluntary liquidation and/or if

winding up proceedings are threatened or instituted against the Customer/
Mortgagor; or

(iv) If the Customer/ Mortgagor commits a breach of any of the terms and
conditions of any agreement(s) executed/to be executed between the Bank
and the Customer/ Mortgagor in respect of the Finances or commits a
breach of any duty or obligation under law; or

(v) If the Mortgagor commits a breach of any of its obligations under this
Mortgage Deed; or

(vi) If the Customer/ Mortgagor becomes bankrupt or insolvent or enters into

any agreement with his creditors or takes or suffers any similar action in
consequence of inability to pay debts which are due and claimed from the
Customer/ Mortgagor; or

(vii) If a receiver is appointed by any person or court of the properties or assets

of the Customer/ Mortgagor including the whole or any part of the
Property; or

(viii) If the Customer/ Mortgagor makes any agreement of composition with his
creditors or if the Mortgagor’s property is attached by any court or
banking court or by any government or other authority; or

(ix) If the Bank in its absolute discretion decides for any reason whatsoever
and without assigning any reason to discontinue the Finances to the
Customer/ Mortgagor; or

(x) If any warranty, representation or statement which is made by the

Customer/ Mortgagor in this Mortgage Deed and/or any other document or
which is contained in any certificate, statement or communication
provided by the Customer/ Mortgagor or any one on the Customer’s/
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 Mortgagor’s behalf proves to be incorrect in any respect considered
material by the Bank; or

(xi) If in the opinion of the Bank the security hereby created by the Mortgagor
or any part thereof is in jeopardy.

7. Without prejudice to the legal rights and remedies available under law and
notwithstanding anything to the contrary stated herein, the Bank after giving
notice in writing to the Customer/ Mortgagor after the occurrence of an event of
default shall have the power to enter upon, take possession and sell the Property
or any part thereof either by public auction or by private treaty, including the right
to purchase the same itself without the intervention of a court of law and
appropriate/adjust the sale proceeds towards the outstanding amount due from the
Customer/ Mortgagor.

8. In the event of any default and without prejudice to the rights of the Bank
specified in clause 6 and 7 above, the Bank may at its discretion appoint any
person as it may deem fit, as receiver of the Property or any part thereof with
power to realize its income and to discharge therefrom all rents, taxes, insurance
premia and dues whatsoever payable in respect of the Property or any part thereof
to pay his own commission and costs of necessary repairs thereto and to expend
the balance towards payment of the dues owed by the Customer/ Mortgagor to the
Bank. The surplus, if any, shall be paid to the Mortgagor.

9. That this security is a continuing security and is independent of and without

prejudice to other securities provided by the Customer/ Mortgagor in favour of the
Bank or any other security or securities that the Bank may now or hereinafter hold
in respect of the Finances provided/agreed to be provided by the Bank to the
Customer/ Mortgagor.

10. That the Mortgagor shall allow the Bank or its authorized agents at all reasonable
times to enter upon the Property or any part thereof and to view and examine the
condition thereof.

11. This mortgage shall be a continuing security and shall not be considered as either
wholly or partially satisfied or redeemed by any payment made by the Customer/
Mortgagor. This security shall cover all finances provided to the Customer/
Mortgagor from time to time and all extensions/renewals and variations thereof.
The security hereby created shall only terminate upon the Bank executing a deed
of redemption and returning all original documents of title, if any, to the
Mortgagor.

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12. The Bank may as it may deem fit without reference or notice to the Mortgagor
and without obtaining the Mortgagor’s consent and at all times, without prejudice
to this mortgage and without discharging or in any way affecting the Mortgagor’s
liability hereunder grant time or other indulgence to or accept or make any
composition or agreement with the Customer/ Mortgagor and also
vary/renew/extend any Finances or other agreements from time to time.

13. No delay or omission to exercise any power, right or remedy accruing to the Bank
upon breach or default of the Customer/ Mortgagor shall impair any power, right
or remedy of the Bank nor shall such delay or omission be construed to be a
waiver on the part of the Bank unless it is in writing signed on behalf of the Bank.

14. The Mortgagor shall pay to the Bank all costs, charges, fees and expenses that
may be incurred in connection with this Mortgage Deed and including stamp
duty, registration fees and advocates fees.

15. The Mortgagor hereby agrees to indemnify and hold the Bank safe, indemnified
and harmless against all losses, damages, claims, liabilities, costs, charges, fees
and expenses that may arise or be sustained by the Bank on account of anything
which the Bank may do or omit to do under the terms hereof or otherwise in
relation to the Property.

16. Any notice to the Mortgagor on the address given to the Bank shall be deemed to
be sufficient and valid for all purposes and shall be deemed to have been served,
if sent by post or left at the address given.

17. On payment of all dues to the Bank, the Bank shall, at the cost of the
Mortgagor redeem/release the Property from the mortgage charge free of all
obligations arising under this Mortgage Deed.

18. This Mortgage Deed secures the repayment of the Finances upto the maximum
amount of Rs.120,000/= (Rupees One Hundred Twenty Thousand Only) plus
costs, expenses, fees, charges and liquidated damages as provided in terms hereof
and any financing agreements executed from time to time between the Customer/
Mortgagor and the Bank.

19. The Mortgagor shall get the charge hereunder created, registered with the
Registrar of Companies in accordance with the provisions of the Companies
Ordinance, 1984 if applicable and shall do and execute all acts, deeds, documents
and assurances as the Bank may reasonably require for effectively creating the
security and facilitating realization thereof.

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 Schedule of the Property Above Referred To

All that piece and parcel of Residential property (in shape of a Residential House)
admeasuring 08-Marla 115-SQF (being share 65/28404th of salim khata 184K-02M)
bearing Khewat No. 188/170 Khatooni Nos. 583-583/1 Qitat. 26 (vide Jamabandi/Record
of Rights for the years 2019-2020) situated at Mouza-Durrana Langana, Plot No. 20,
Street No. 03 (Row 40), Block-F, Royal Orchard Housing Scheme Multan, Tehsil
Multan City, District, Multan owned by Mr. Muhammad Taqi Shaukat Zaidi son of
Mr. Syed Abu Abdullah Shaukat Zaidi acquired through

 Registered Sale Deed No. 112-2024-0009439 dated 18-05-2024 & relevant

Ownership Mutation No. 30398 dated 18-05-2024.
 Royal Orchard Allotment No. 2155 dated 02-09-2024.
The Property is bounded as under;
North: Street No. 03 (Row 40)
South: Plot No. 29
East: Plot No. 19
West: Plot No. 21

IN WITNESS WHEREOF, the Mortgagor has executed this Mortgage Deed in favour of
the Bank on the date first above written.

____________________
Mortgagor
In pursuance of

Witnesses:

1. ____________________________ 2. ____________________________

Name _________________________ Name_________________________

CNIC No _____________________ CNIC No _____________________
Address: ______________________ Address: ______________________
_____________________________ _____________________________

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