ANNEXURE IV
POWER OF ATTORNEY
This irrevocable Power of Attorney is executed at
(place) this ______________________day of_____________20_____by (i)
Shri/Km./Smt./_________________________________________S/o, D/o, W/o
Shri______________________________________________R/o__________________
___________________________________________________ and (ii)Shri/Km./Smt.
S/o, D/o, W/o Shri R/o _________________
(hereinafter called the
APPOINTOR(s) which term shall unless repugnant to the context hereof, include his/her/their heirs,
successors, administrators and assigns) in favour of Madhya Bihar Gramin Bank a Regional Rural
Bank, Constituted Under Regional Rural Bank Act 1976, and amongst others one
BO:____________________________referred to as Bank, which term shall include its successors
and assigns).
WHEREAS
1) The Appointer(s) has/have entered into loan agreement dated
(hereinafter referred to as the said Agreement) with the Bank for obtaining a
loan of Rs. ________________________________for the purchase/ construction/
repairs/ renovations/ alterations/ additions of/ to the house/flat mentioned in the said
agreement and also described in the schedule hereto (hereinafter referred to as the said Property).
2) Vide the said agreement, the Appointer (s) has/have agreed, inter alia, to deliver to and deposit with
the Bank each and every of the documents of title relating to the said property as and when it comes
into his/her/their possession with intent to create a security thereon for the repayment of the loan,
interest, interest tax, cost and other charges, and for the due fulfillment of his/her/their other
obligations under the said agreement.
3) Vide the said agreement; the Appointer(s) has/have also agreed to give an Irrevocable Power of
Attorney to and in favour of the Bank to carry out the obligations of the Appointer(s), under the said
agreement inter alia, in regard to the creation of the aforesaid security, etc.
NOW THIS DEED WITNESSETH THAT the Appointer(s) hereby
appoint(s)/nominate(s) & constitute(s) the Bank to act through any of its officers
(hereinafter severally called the attorneys) to be his/her/their true and lawful attorneys in
his /her/their names and on his/her/their behalf to do and, execute all or any of the
following instruments, acts, deeds and things;
1) To make payment of the said advance that may be sanctioned to the Appointer(s) pursuant to the
said Agreement as per the rules of the Bank applicable to grant of such advance to the vendor
towards the agreed purchase price for the said property.
2) To take all steps as may be necessary or required for the completion of the purchase of the property.
3) To obtain and procure proper conveyance/transfers and other assurances of the said property from
the Vendor, to get the lease hold property converted into free hold and get the conveyance/transfer
deed executed and registered and in particular and without prejudice to the generality of the
foregoing, if necessary, to sign sale/title deeds and other connected documents. To appear before the
Sub-Registrar, to admit execution, to get the sale/title deed executed by the Vendor and registered in
accordance with Law, to receive and take delivery of the registered sale deeds, and other documents
of title from the Vendor and after registration, from the office of the Registrar and in this regard, to
take all legal steps as may be deemed necessary by the bank.
4) To execute mortgage deed and deliver and deposit the aforesaid registered sale deeds executed by
the Vendor and/or each and every of the other documents of title of the said Property with intent to
create security thereon (by way of mortgage by deposit of the title deeds) for the repayment of the
loan, interest and other charges and for the due
fulfillment of the Appointer(s)’s other obligations under the said Agreement, and to execute, sign
and deliver all such acknowledgements or writings as may be required by the Bank for completion
of the creation of the aforesaid security.
5) To apply for and obtain permission, sanction or certificate of competent authority or any other
authority or office for creating mortgage and for the purpose, swear and file affidavits or
applications, make statements and do such other acts, as may be necessary.
6) Generally, to do such acts, deeds and things not herein specially authorized as any of the attorneys
may deem proper or expedient for or in relation to all or any of the purposes of matters aforesaid.
And the Appointer(s) hereby agree(s) to ratify and confirm whatsoever the said attorney or any of
them shall lawfully do or cause to be done by virtue of this Power of Attorney which shall be
deemed to have been done by the Appointer(s) and the Appointer(s) hereby declare that this Power
of Attorney shall be irrevocable till all the repayments under the said Agreement have been duly
made by the Appointer.
SCHEDULE
(here describe the property to be purchased)
IN WITNESS WHEREOF the within named Appointer(s)
Has /have executed this Power of Attorney on the day, month and the year first above written.
WITNESSES APPOINTER/S
