Home Loan Agreement...“Hybrid Flexi Loan” is to be understood in accordance with its definition stated in Section ‘C’ hereunder “Interest” means the interest payable by

BAJAJ HOUSING FINANCE LIMITED

Home Loan Agreement

BAJAJ HOUSING FINANCE LIMITED BHFL/MORTGAGES/HL-LOAN AGREEMENT/SEPTEMBER 2017/VER.1

HOME LOAN AGREEMENT

This Home Loan Agreement (“Agreement”) is made at the place and on the date as set out in Schedule I

BETWEEN

BAJAJ HOUSING FINANCE LIMITED, a company registered under the provisions of the Companies Act, 1956 and a ‘Company’ as envisaged under the Companies Act, 2013 and having its registered office at Mumbai-Pune Road, Akurdi, Pune – 411035, Maharashtra and Corporate office at S. No. 208/1-B, 5th Floor, Bajaj Finserv Corporate Office, Off Pune Ahmednagar Road, Viman Nagar, Pune – 411014, Maharashtra (hereinafter referred to as “BHFL” or “Lender” which expression shall, unless it be repugnant to the context or meaning thereof, be deemed to mean and include its successors and assigns) of the First Part;

AND

The Borrower, material particulars whereof are described and set out in Schedule I, of the Other Part. Lender and Borrower are hereinafter collectively referred to as “Parties” and individually as “Party”.

WHEREAS:A. The Lender is a housing finance company engaged primarily in the business of providing loans/credit facilities to various

customers.B. The Borrower has requested the Lender to grant the Loan to the Borrower and the Lender, relying upon the representations

made and information provided by the Borrower, has agreed to grant the Loan to the Borrower on the terms and conditions mutually agreed and contained in this Agreement and in other Loan Documents, up to the Loan Amount as mentioned in Schedule I, in its sole and absolute discretion.

NOW, THEREFORE, in consideration of the foregoing and other good and valid consideration, the receipt and adequacy of which is expressly acknowledged, the Parties hereby agree as follows:

GENERAL TERMS AND CONDITIONS

1. DEFINITIONS AND INTERPRETATIONFor the purposes of this Agreement, in addition to the terms defined in the description of the Parties: (a) all capitalized words and expressions defined by inclusion in quotation and/or parenthesis anywhere in this Agreement, have the same meanings as ascribed to such words and expressions; (b) words and expressions used herein but not defined shall have the same meaning as assigned to them in General Clauses Act, 1897; and (c) following words and expressions shall have the meanings as set-out in this Clause 1:

1.1. Definitions“Affidavit-cum-Undertaking” means the affidavit-cum-undertaking executed by the Borrower substantially in the form set out in Schedule II hereto;

“Agreement” means and includes this Agreement, together with all the schedules, exhibits, addendums, attachments and appendices annexed hereto and all amendments/supplements hereto and restatements hereof as executed from time to time;

“Application Form” means the Loan application, in a form and manner prescribed and acceptable to the Lender, together with such documents and information as may be required by the Lender, filled in and submitted by the Borrower to the Lender in relation to the Loan;

“BHFL FRR” means the interest rate announced by the Lender as BHFL Floating Reference Rate as updated from time to time on the website or as communicated to the Borrower. The prevailing BHFL FRR is set out in Schedule I;“Bounce Charges” means an amount payable by the Borrower to the Lender as a penalty where the PDCs issued by the Borrower is not honored by the bank, or ECS/NACH or any other repayment mode as set out in Schedule I, is returned or not honored;

“Builder Payments” shall have the meaning ascribed to it in Clause 6.1;

“Deed of Guarantee” means the deed of guarantee, executed or to be executed by the Guarantor, if any, details whereof of the Guarantor as set out in Schedule I in favour of the Lender, including all amendments, modifications and supplements;

“Default” means an Event of Default and/or a Potential Event of Default, or any other event as may be stipulated by the Lender from time to time or so construed by the Lender at its sole discretion;

“Due Date” means, in respect of (a) the EMI and/or the Outstanding Dues on the Repayment Dates, Flexi Loan Repayment Date or the Hybrid Flexi Loan Repayment Date as defined in Section ‘B’ and ‘C’ below respectively; (b) the costs, charges

BHFL/MORTGAGES/HL-LOAN AGREEMENT/SEPTEMBER 2017/VER.1BAJAJ HOUSING FINANCE LIMITED

and expenses incurred or paid by the Lender under the Loan Documents, the date specified by the Lender in the notice providing details of such costs, charges and expenses; and (c) any other amount payable under the Loan Documents, the date on which such amount falls due in terms of the Loan Documents, or on demand if the due date is not specified in such Loan Document;

“Electronic Clearing System or ECS” or “NACH” means the debit clearing schemes, notified by the Reserve Bank of India from time to time, being mode(s) of electronic funds transfer from one bank account to another bank account using the services of a clearing house or any other platform or mechanism duly authorised in this regard including without limitation the National Electronic Clearing Service;

“EMI” or “Equated Monthly Instalments” means the amount payable every month by the Borrower to the Lender comprising of Interest, or as the case may be, the Loan Amount and/or Interest and includes Pre-EMIs, if any;

“Event of Default” shall have the meaning ascribed to it in Clause 9.1 and such other stipulations of the Lender on a case to case basis;

“Flexi Loan” is to be understood in accordance with its definition stated in Section ‘B’ hereunder

“Guarantor” means the Person giving the guarantee, if any, to the Loan and executing the Deed of Guarantee;

“Hybrid Flexi Loan” is to be understood in accordance with its definition stated in Section ‘C’ hereunder

“Interest” means the interest payable by the Borrower to the Lender in terms of this Agreement and with respect to the Flexi Loan shall mean the Flexi Loan interest as identified under Part B of Schedule I and with respect to the Hybrid Flexi Loan shall mean the Hybrid Flexi Loan interest as identified under Part C of Schedule I; as computed from time to time with respect to such Loans;

“Interest Rate” means the sum of the Spread, as mentioned in Schedule I and BHFL FRR applicable in respect of the Loan availed by the Borrower under this Agreement and shall be as stated in Schedule I or as may be amended from time to time by the Lender and communicated to the Borrower to that effect, and with respect to the Flexi Loan shall mean the Flexi Loan interest rate as identified under Part B of Schedule I and with respect to the Hybrid Flexi Loan shall mean the Hybrid Flexi Loan interest rate as identified under Part C of Schedule I which is subject to the change and intimated from time to time;

“Lender’s Group” means the Lender and its affiliates, subsidiaries and group companies;

“Loan” shall mean (a) the Home Loan and/or (b) the Flexi Loan under the Home Loan and/or (c) the Hybrid Flexi Loan under the Home Loan, as the case may be, applied for by the Borrower by submitting the Application Form and also, sanctioned by the Lender in terms of the Sanction Letter, and shall also include the Top-up Loan, if any;

“Loan Against Property” shall mean the loan sanctioned/granted for meeting the credit requirements of the Borrower, details of which are provided in Schedule I as so governed by the Terms and Conditions;

“Loan Amount” shall mean principal amount of the Loan as mentioned in the Schedule I as may be disbursed by the Lender to the Borrower from time to time in terms of this Agreement, and includes the principal amount of Flexi Loan and the Hybrid Flexi Loan, as the case may be granted by the Lender, which shall be subject to the sole discretion of the Lender;

“Loan Documents” means collectively (a) Application Form; (b) Demand Promissory Note (c) Power of Attorney; (d) Sanction Letter; (e) Security Documents; (f) this Agreement; (g) Top-up Loan Addendum, if any; (h) Affidavit-cum-Undertaking, if any; (i) request letter submitted by the Borrower for availing the Flexi Loan or the Hybrid Flexi Loan, if any, (j) any other document executed from time to time pursuant to any of the foregoing to which the Borrower or the Lender is a party; and (k) any other agreement or document which the Lender designates as a Loan Document;

“Loan Tenor” means the tenor of the Loan as specified in Schedule I and amended if any from time to time;

“Material Adverse Effect” means an event, circumstance, occurrence or condition which has caused, as of any date of determination, a material adverse effect on or a material adverse change in the reasonable judgment of Lender on:

(a) The business, operations, assets or condition (financial or otherwise) of the Borrower; or(b) The ability of the Borrower to enter into and to perform its obligations under Loan Documents or any other related

document to which Borrower is or will be a party; or(c) The Security, the Property or any rights in relation thereto; or(d) The legality or validity or enforceability of the Loan Documents or any other related document or the rights or

remedies of the Lender.

“Outstanding Dues” means, at any time, all the amounts outstanding and payable or obligations to be performed by the Borrower to the Lender, pursuant to the terms of this Agreement and/or any other Loan Documents, including but not limited to (a) the Loan Amount, payable as part of EMI; (b) the Interest on the Loan Amount, payable as part of EMI; (c) the Penal Interest; (d) all other obligations and liabilities of the Borrower, indemnities, liquidated damages, costs, charges,


expenses and other fees and interest incurred under, arising out of or in connection with this Agreement and/or any other Loan Documents; and (e) any and all expenses or sum incurred by the Lender for the enforcement of and collection of any amounts due under this Agreement and/or any other Loan Documents, including expenses of enforcement and realization;

“Outstation Collection Charges” means any amount payable by the Borrower to the Lender as a fee for outstation PDCs submitted by the Borrower, details of which are provided in Schedule I.“Payment Instrument” means the instrument through which the payment instruction has been provided by the borrower by either issuance of physical PDC and/or through electronic payment instructions through issuance of ECS or NACH mandate.

“PDC” means the post dated cheques submitted by the Borrower for the amounts equivalent to the EMIs and the Loan Amount, including in relation to the Flexi Loan or the Hybrid Flexi Loan, if any, details of which are provided in Schedule I;“Penal Interest” means an additional interest payable by the Borrower to the Lender as a penalty in case of delay in payment of EMIs and/or Outstanding Dues, at the rate as mentioned in Schedule I;“Person” means person as defined under Section 3 (42) of the General Clauses Act, 1897;

“Post Dated Cheque Swap Charges” means an amount payable by the Borrower to the Lender for replacement or exchange of the PDCs submitted by the Borrower without being required by the Lender, details of which are provided in Schedule I;“Potential Event of Default” means any event or circumstance which would, with the expiry of any grace period provided by the Lender from the giving of notice, the making of any determination under a Loan Document or the satisfaction of any or all applicable conditions (as the case may be) (or any combination of the foregoing) be an Event of Default;

“Power of Attorney” means the power of attorney executed or to be executed by the Borrower in favor of the Lender as required under this Agreement;

“Pre-Equated Monthly Instalments” or “Pre-EMIs” shall mean any amount of Interest which is payable by the Borrower to the Lender from the date of the first disbursement of the Loan till the date on which disbursement up to the Loan Amount is made to the Borrower or such other date as may be determined by the Lender;

“Pre-Payment” shall have the meaning assigned to it in Clause 4.1;

“Property” with respect to the Home Loan means, the residential immoveable property details of which are provided in Schedule I, against the Security of which the Loan is being granted by the Lender in terms of this Agreement, including the improvements made or occurred to it whether or not by utilising the Loan proceeds and also all benefits arising out of such Property;

Without prejudice to the generality of the above ‘Property’ shall also include:

(a) In the case of a flat, the entire built-up area (and any addition thereto), the proportionate share in the common areas of the building in which such flat is/will be situated and the proportionate undivided share in the land on which the said building is situated or is being/will be built, including any open/covered garage/parking spaces specifically allotted to such flat; and/or

(b) In the case of an individual house, the house and entire plot of land on which the house is situated or on which the house will be built up including all easement rights; and/or

(c) In the case of a plot of land, the land without cancellation/termination/exchange of any easement right attached with it; and/or

(d) All immovable furniture and fixtures permanently fastened to the earth or the walls and forming part of the Property; and/or

(e) Any other immovable property as described in Schedule I including entire built-up area, proportionate land and all other rights attached to such property;

“RBI” means the Reserve Bank of India;

“Repayment Date”:

(a) in relation to EMI, means the date, on or before which each EMI is to be repaid by the Borrower; and(b) in relation to other Outstanding Dues, means the date, on or before which the relevant Outstanding Dues and/or

the entire Outstanding Dues, is to be repaid by the Borrower;

“RERA Act” shall mean the Real Estate (Regulation and Development) Act, 2016 (“RERA”) and the relevant rules, regulations and notifications thereunder as amended from time to time and as enforced, and shall include all the notifications, circulars and orders given by the Authority (“RERA Authority”), as defined under Real Estate (Regulation and Development) Act, 2016, in the relevant jurisdiction;

“Sanction Letter” means the sanction letter issued by the Lender and accepted by the Borrower, including all amendments,


modifications and supplements, details of which is provided in Schedule I;“Security” means mortgage, hypothecation, encumbrance, lien (statutory or other), preference, priority or other security agreement of any kind or nature whatsoever created for securing the Loan provided under this Agreement;

“Security Documents” means:

(a) Deed of Guarantee, if any;(b) any document whereby Security over the Property shall be created in favour of the Lender;(c) any present or future document confirming or evidencing any Security or guarantee for, or in relation to, any sums

outstanding under any Loan Document;(d) all agreements and other documents executed from time to time pursuant to any of the foregoing including all

notices given pursuant to, and as contemplated by, the Security Documents and the acknowledgements to such notices;

“Spread” means the margin charged by the Lender as mentioned in Schedule I;“Tax” means any tax, levy, impost, duty, stamp duty or other charge or withholding of a similar nature including all interest tax, service tax, cess or sales tax, as may be required under the applicable Indian law;

“Top-up Loan” means the additional loan as may be granted by the Lender to the Borrower at the sole discretion of the Lender pursuant to the terms of the Top-up Loan Addendum executed by the Borrower and the Lender;

“Top-up Loan Addendum” means an addendum to this Agreement substantially in the format set out in Schedule III and Schedule IV; and

“Website” means the website of the Lender presently being www.housingfinance.bajajfinserv.in and such other website/microsite so designated by the Lender.

1.2. Interpretation

(a) Unless the context otherwise requires, words denoting the singular shall include the plural and vice versa;(b) the term Borrower shall include the Co-Borrowers, if any;(c) the table of contents, headings and the use of bold typeface, are inserted for ease of reference and shall be ignored

in the construction and interpretation of the Agreement;(d) a reference to a Clause or Schedule is, unless indicated to the contrary, a reference to a Clause or Schedule to this

Agreement;(e) references to this Agreement shall be construed as references also to any separate or independent stipulation or

agreement contained in it;(f) unless the context otherwise requires, reference to the Loan shall also mean and include reference to the Loan

Amount;(g) references to the word “includes” or “including” shall be construed without limitation; and(h) words importing a particular gender include all genders.

2. LOAN

2.1. The Borrower agrees to borrow from the Lender and the Lender agrees to make available and extend to the Borrower, at its sole and absolute discretion, the Loan, to the extent of the Loan Amount as mentioned in the Application Form and Schedule I, on the terms and conditions contained in the Loan Documents.

2.2. The disbursement of the Loan may be made directly to the Borrower or to the builder/developer or seller of the Property, in one lump sum or in such installments, at the discretion of the Lender and as per the details provided under the Application Form and Schedule I, subject to the satisfaction of the conditions precedent to the disbursement as provided in the Sanction Letter and other terms and conditions of the Loan Documents.

2.3. The Borrower may request the Lender, and the Lender at its sole discretion may agree to provide a Top-up Loan. If the Lender agrees to provide a Top-up Loan, then the Borrower shall be required to execute the Top-up Loan Addendum with the Lender and the Top-up Loan shall be subject to the terms and conditions of the Loan Documents and the Top-up Loan Addendum executed in respect thereof.

2.4. Notwithstanding anything to the contrary contained herein, the Lender may by notice to the Borrower, suspend or cancel further disbursement of the Loan.


3. INTEREST

3.1. The Borrower shall pay the Loan together with the Interest at the interest rate specified by the Lender. The Lender shall be entitled to revise the Interest Rate upward or downward during the Loan Tenor at any time and from time to time depending on the changes in BHFL FRR or changes in its internal policies, at its sole discretion or due to change in the regulatory requirements. Such revised Interest Rate shall be deemed to form part of the Loan and the Borrower shall also be liable to pay such revised Interest on the Loan in such manner and within such period as may be determined by the Lender in its sole discretion. Any revision in the Interest Rate shall be effective from a prospective date, unless specified otherwise, and the Lender shall notify the Borrower in advance to this effect and also update on its Website and the same would be binding on the Borrower.

3.2. The Borrower confirms having perused, understood the Lender’s method of calculating the Interest on the Loan on reducing balance rate and also the calculation of EMIs.

3.3. The Lender shall be entitled to revise the Interest Rate if there is any delay by the Borrower in providing/executing any documents required by the Lender to be provided/executed by the Borrower, post the disbursal of the Loan, under this Agreement.

3.4. Without prejudice to the other rights of the Lender under the Loan Documents, in the event of the Borrower committing a default in the payment of EMI and/or Outstanding Dues or the Borrower committing any breach of any condition of the Loan Documents or in the Event of Default, the Borrower shall, in respect of the Outstanding Dues and in respect of EMI or other amount in default, pay Interest at the Default Interest Rate as specified in Schedule I hereto with daily rests, from the date of default till the such default is remedied by the Borrower to the satisfaction of the Lender.

3.5. In case the Borrower opts for Rate Guarantee, the details and terms and conditions of which are provided in Annexure B to Schedule I, the Lender guarantees that the Interest Rate on the Loan linked to BHFL FRR will at no time be more than 0.25% above the Interest Rate being offered to the new home loan customers, during the tenor of the Loan. Upon availing this feature, the Lender also assures automatic re-pricing with no recurring additional cost for re-pricing in the future.

The Borrower agrees that the Rate Guarantee will be withdrawn on the occurrence of any Event of Default and/or on the occurrence of any of the following events:

(a) Three EMI bounces during tenor of the Loan (b) More than one EMI pending at any given point of time during the tenor of the Loan (c) Post disbursement documents to be submitted to the Lender are overdue by more than 90 days

4. PREPAYMENT

4.1. At the written request of the Borrower, the Lender may permit foreclosure of the Loan by accepting the pre-payment of the Outstanding Dues (“Pre-Payment”). The Pre-Payment of the Outstanding Dues may be either full-Prepayment or part Pre-Payment as described below.(a) Full Pre-Payment: At the request of the Borrower, the Lender may accept the full Pre-Payment of the Outstanding

Dues and foreclose the Loan if the Borrower has paid at least one EMI.(b) Part Pre-Payment: At the request of the Borrower, the Lender may accept part Pre-Payment of the Loan up to a

maximum number of six times in an English calendar year provided that the Borrower pays a minimum sum of one EMI under the Loan. The Parties further agree that the Borrower should have paid at least one EMI prior to making part Pre-Payment of the Loan. Based on the part Pre-Payment made by the Borrower, as stated herein, either the Loan Tenor shall be reduced to the extent of the part Pre-Payment made or EMI amount shall be reduced by maintaining the Loan Tenor with the mutual written consent of the Parties.

(c) It is hereby clarified that this Clause 4.1 (b) shall not apply in case the Borrower has availed the Flexi Loan or the Hybrid Flexi Loan.

4.2. The Borrower acknowledges that any Pre-Payment shall be subject to the payment of the pre-payment charges as stated in Schedule I and as amended from time to time. The Lender shall be entitled to recover from the Borrower pre-payment charges as mentioned in Schedule I and as amended from time to time on the Loan Amount, repaid by the Borrower ahead of the timeline as mentioned in Schedule I.

5. REPAYMENT

5.1. The Borrower agrees to repay the EMIs and the Outstanding Dues to the Lender on or before the Repayment Date, the Flexi Loan Repayment Date or the Hybrid Flexi Loan Repayment Date, as the case may be basis the facility so availed by any of the repayment modes as set out in Schedule I, or in such manner and at such place, as may be agreed between the Borrower and Lender. The Lender may, at the request of the Borrower in writing, agree to change the repayment mode as provided in Schedule I. The Lender may, at any time, in its discretion, without prior notice to the Borrower revise


the repayment schedule as provided in Schedule I in its sole and absolute discretion.

5.2. The Payment Instrument as may be provided by the Borrower shall be open ended and will cover the Loan Amount and other Outstanding Dues thereon.

5.3. The EMI amount shall be arrived at so as to comprise the repayment of the Loan Amount and payment of Interest calculated on the basis of the Interest Rate, periodicity of repayment of the entire liability under the Loan Tenor and the Borrower agrees to continue paying EMIs until all Outstanding Dues under the Loan have been repaid in full to the Lender. Any dispute or difference of any nature whatsoever shall not entitle the Borrower to withhold or delay payment of any EMI or other sum and the Lender shall be entitled to present the Payment Instrument to the bank of the Borrower on the Due Dates. The Lender shall be entitled to recover Bounce Charges from the Borrower in case the Payment Instrument presented by the Lender is not honoured by the bank.

5.4. The Borrower undertakes to deliver to the Lender the PDCs. The Borrower confirms that the PDCs are issued towards repayment of the EMIs and the Outstanding Dues and delivery of the PDC shall be deemed to be an unconditional and irrevocable authority given by the Borrower to the Lender to present the PDC towards repayment of the EMIs and the Outstanding Dues. Alternatively, if the Borrower provides electronic payment instruction through ECS/NACH mandates towards repayment of the EMI and if such Payment Instrument is not processed due to any technical issue or otherwise, the Lender has a right to take action against the Borrower in case of default by the Borrower in payment of EMI. The Borrower agrees and undertakes to forthwith issue fresh Payment Instrument to the Lender in the event of any revision in the repayment schedule. The Lender shall be entitled to recover from the Borrower the Outstation Collection Charges and Post Dated Cheque Swap Charges. Any changes to such charges will be notified through letter or email or by updating the Website or a combination thereof, which shall constitute sufficient notice to Borrower.

5.5. The Borrower hereby irrevocably authorises the Lender to destroy the PDC(s) (if any) in the possession of the Lender upon repayment of the Loan together with all costs, charges and expenses, by the Borrower to the satisfaction of the Lender.

5.6. Notwithstanding anything stated elsewhere in this Agreement, the Lender may, at any time, in its discretion, recall the Loan and in such event, the Outstanding Dues shall be payable by the Borrower on demand, within 15 (fifteen) days of being so called upon, to the Lender without any delay or demur.

5.7. The Borrower acknowledges that the Lender shall not provide any notice, reminder or intimation to the Borrower regarding his obligation to pay EMI regularly on each Due Date. Any delay or default in payment of any EMI shall make the Borrower liable to pay to the Lender, the Penal Interest, besides constituting a Default thereby making all Outstanding Dues payable to the Lender forthwith.

5.8. All Security furnished by the Borrower to the Lender in connection with the Loan shall be in addition to and not in derogation of any other Security, which the Lender may at any time hold in respect of the Outstanding Dues and shall remain a continuing Security to the Lender and the same shall be binding upon the Borrower and the Borrower shall not be discharged/released by intermediate payment or settlement of accounts by the Borrower unless the Loan together all the Outstanding Dues are fully repaid to the satisfaction of the Lender and the Lender gives a discharge/release in respect of the Security in writing to the Borrower.

5.9. Whereas in cases where the Loan is provided to more than one Borrower or where the payment obligations are secured by any guarantee, notwithstanding anything herein stated, the liability of the Borrower(s)/Guarantor(s) to repay the Loan and to observe the terms and conditions of this Agreement and/or other Loan Documents is joint and several and the Borrower(s)/Guarantor(s) shall not be discharged/released by intermediate payment or settlement of accounts by the Borrower(s)/Guarantor(s) unless the Loan together all the Outstanding Dues are fully repaid to the satisfaction of the Lender and the Lender gives a discharge/release in respect of the Security in writing to the Borrower(s).

5.10. In case the Borrower opts for Flexible EMI Holiday, he would repay the Loan by paying 11 EMIs in a financial year instead of 12 EMIs for the entire tenor of the Loan as specified in Schedule I. The Borrower has the option of choosing the EMI Holiday month of the year he wishes to pay Nil EMI, details of which are mentioned in Schedule I, and once chosen the same cannot be altered. The accrued Interest for the month in which the Borrower pays Nil EMI will be added to the Outstanding Dues and accordingly calculated for repayment of the Loan.

6. BORROWER’S COVENANTS AND UNDERTAKINGS

6.1. AFFIRMATIVE COVENANTSThe Borrower hereby irrevocably and unconditionally covenants with the Lender that, during the pendency of the Loan, the Borrower shall:

(a) maintain the Property in good order and condition and pay all water, electricity and other charges;(b) promptly inform the Lender of any loss/damage to the Property or any action which may cause any loss/damage

to the Property;


(c) ensure that all monies from any builder, developer, promoter or seller of the Property (“Builder Payments”) for any reason whatsoever (including payment of interest, full or partial refund of monies paid by the Borrower or any indemnification by the builder, developer, promoter or seller) which is due to the Borrower, shall be paid by such builder, developer, promoter or seller of the Property to the Lender directly towards repayment of the Outstanding Dues. In the event the Borrower receives any Builder Payments then the Borrower shall immediately, and in any event within 3 (three) days of the receipt of any such monies by the Borrower, pay the entire amount of the Builder Payments to the Lender as prepayment of the Outstanding Dues. It is hereby clarified that the minimum amount of prepayment and the requirement of having paid at least one EMI prior to prepayment as prescribed under Clause 4.1(b) do not apply to any prepayments made pursuant to this Clause. Together with the payments of the Builder Payments to the Lender, the Borrower shall provide the Lender with all relevant details regarding the Builder Payments including the date of receipt of monies by the Borrower, the amount received and the reason for such payment of monies;

(d) promptly submit to the Lender copies of any communication with the builder or promoter of the Property;(e) comprehensively insure and keep insured, with the Lender as a sole beneficiary, the Property for its full market

value or replacement cost to the satisfaction of the Lender and whenever required by the Lender, against the risk of death and/or injury of the Borrower;

(f) at all times comply, and ensure the builder or developer to the Property also complies with the prevailing Law, including RERA Act;

(g) immediately inform the Lender of any notice and/or request from the developer or the builder of the Property in requesting any consent from the Borrower under any law/rule/regulation, including the RERA Act;

(h) submit financials of his/their business as and when demanded by Lender; (i) bear all costs of making good any deficit in stamp duty on the documents executed by the Borrower in relation to

the Loan and/or Security created by the Borrower in favour of the Lender; and(j) execute, furnish and issue such other documents in the manner as prescribed by the Lender from time to time to

ensure the creation of a valid mortgage/securitiation in favour of the Lender and for such other purposes to validly create the Securities mentioned in Schedule I.

6.2. NEGATIVE COVENANTS

The Borrower hereby irrevocably and unconditionally covenants with the Lender that until the Outstanding Dues have been unconditionally and irrevocably paid in full and discharged to the satisfaction of the Lender, the Borrower shall not, without the prior written consent of the Lender:

(a) let out or otherwise part with the possession of the Property or any part thereof, except as disclosed to the Lender;(b) sell, mortgage, create Security over, lease, surrender or otherwise howsoever alienate, encumber, transfer or create

any third party interest in, the Property or any part thereof;(c) enter into any agreement or arrangement with any Person, institution or local or Government for the use, occupation

or disposal of the property or any part thereof during the pendency of the Loan;(d) amalgamate or merge the Property with any other adjacent property or create any easementary right on the

Property;(e) stand surety for anybody, or guarantee the repayment of any loan; (f) leave India for employment or business, or for long term stay abroad or change its tax residency status without

fully repaying the Outstanding Dues;(g) execute any document in favour of any Person to deal with the Property in any manner;(h) shall not provide any consent to the builder and/or the developer and/or to any other person in relation in to the

Property under the RERA Act;(i) affect any oral or other partition of the Property or enter into any family arrangement;(j) change the user of the Property; (k) make any additions or alterations to the Property; and(l) in case the Borrower is a company or a partnership firm or a limited liability partnership, make any change in

the constitution, management or existing ownership or control, share capital of the Borrower, or carry out any amalgamation, merger or compromise, hive off without prior written consent of the Lender.

6.3. SECURITY

The Borrower undertakes that:

(a) the repayment of EMIs and other Outstanding Dues shall be secured by such Security as per the details provided in Schedule I, and the Borrower shall execute and ensure the execution of the Security Documents to the satisfaction


of the Lender in this regard;(b) the Lender shall have first and exclusive charge over the Property. The Security created under the Loan Documents

and the liability of the Borrower shall not be affected, impaired or discharged by insolvency, bankruptcy or liquidation or winding up (voluntary or otherwise) or by any merger or amalgamation, reconstruction, takeover of the management, dissolution or nationalization (as the case may be) of the Borrower;

(c) the Borrower will, on the Lender’s request, do, perform and execute such acts, deeds, matters and things as the Lender may consider necessary either to perfect the Security provided for or to carry out the intent of this Agreement and execute, furnish and issue such other documents in the manner as prescribed by the Lender from time to time to ensure the creation of a valid mortgage/charge in favour of the Lender and for such other purposes to validly create the Security mentioned in Schedule I;

(d) the Borrower shall not, on the occurrence of Event of Default, prevent or obstruct the Lender from taking possession of Property. The Lender’s representatives will be entitled to sell, give on rent, or otherwise deal with the Property by public or private auction or private treaty, without being liable for any loss;

(e) the Lender may at the risk and cost of the Borrower engage one or more Person(s) to collect the Borrower’s Outstanding Dues and/or to enforce any Security and may furnish to such Person the right and authority to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto as the Lender thinks fit The repayment of EMIs and other Outstanding Dues shall be secured by such Security as per the details provided in Schedule I, and the Borrower shall execute and ensure the execution of the Security Documents to the satisfaction of the Lender in this regard.

7. LENDER’S RIGHTS

7.1. The Lender shall, in relation to the Loan:(a) have the sole and absolute discretion, on such terms and conditions as it may deem fit, to agree to the Borrower’s

request for increase or decrease in the sanctioned Loan Amount;(b) have the sole right at any time during the Loan Tenor to revise/reschedule/restructure the repayment terms/

amount of EMI or of Outstanding Dues and the Borrower shall make all future repayments to the Lender according to such revised schedule on being notified by the Lender of such revision or rescheduling;

(c) have the sole right to amend any of the terms and conditions of this Agreement (including but not limited to the revision of Interest Rate, Default Interest Rate, Spread, periodicity of compounding Interest, prepayment charges (whether for part prepayment or full) as set out in Clauses 4.1 and 4.2, method of effecting credit of the repayments by notice to the Borrower in writing, without assigning any reason and the Borrower agrees that such revision shall become applicable from date of such notification to the Borrower;

(d) have the right to enter the Property at reasonable times, inspect and supervise it (including the stage and accounts of construction) and also inspect books of accounts and other records maintained by the Borrower;

(e) have the right to conduct valuation of the Property, by itself or through vendors appointed by it, without any intimation to the Borrower;

(f) have a right, at Borrower’s cost, to insure the Property or take any measure for the maintenance and preservation of the Property;

(g) have the right to create a charge or mortgage over the Property as Security in its own favour or in favour of any third party;

(h) have the right at any time, to call for or require verification of originals of any documents which the Lender has received copies of. Any such copy in possession of the Lender shall be deemed to have been given only by the Borrower;

(i) have the right, at the risk and cost of the Borrower, to engage one or more Person(s) to collect the Borrower’s Outstanding Dues and/or to enforce any Security and may furnish to such Person the right and authority to perform and execute all acts, deeds, matters and things connected therewith or incidental thereto as the Lender thinks fit;

( j) have the right to obtain refinance against the Loan as it may consider appropriate;(k) have the right to decide, in its sole discretion, the mode of mortgage or creation of any other Security/additional

Security by the Borrower for securing the Outstanding Dues and the Borrower shall be bound to create such additional Security evidencing the same as may be required by the Lender. The Borrower shall execute any bonds, promissory notes for the Loan and all such documents, Power of Attorney(s) undertakings and agreements as may be required by the Lender;

(l) at its sole and absolute discretion, require the Borrower to submit an Affidavit-cum–Undertaking prior to the disbursement of the Loan;

(m) be entitled to call upon the Borrower and the Borrower shall be liable to furnish to the Lender, additional Security in case Lender determines that the value of Security furnished by the Borrower has decreased or the same is insufficient. The Lender further reserves the right to immediately recall the Loan if it is found that the Property is of inferior value than as declared by the Borrower; and


(n) withdraw/block/freeze/terminate/convert to term loan the Flexi Loan or the Hybrid Flexi Loan upon occurrence of any event which has a Material Adverse Effect or any event which is likely to have a Material Adverse Effect or an Event of Default at its sole discretion at any time.

7.2. The Borrower hereby unconditionally agrees and acknowledges that notwithstanding anything to the contrary all the rights of the Lender in relation to the Loan shall continue to exist till the date all amounts due from the Borrower and/or any of its affiliates (including but not limited to the Outstanding Dues) to the Lender or any other entity in the Lender’s Group are repaid in full to the satisfaction of the Lender.

8. BORROWER’S REPRESENTATIONS AND WARRANTIESThe Borrower hereby represents and warrants to the Lender on a continuing basis as follows:

(a) the Borrower has capacity and authority to enter into this Agreement;(b) the Borrower has absolute clear and marketable title to the Property and that the Property is absolutely

unencumbered and free from any liability or any third party interest whatsoever;(c) the Borrower will not violate any covenant, conditions or stipulations under any existing agreements entered into

by the Borrower with any party, by availing this Loan;(d) the Borrower understands that the Lender is entitled to change the Interest Rate applicable on the Loan at its sole

discretion basis its internal risk grading and parameters and as per the risk adjusted margin, and the Borrower declares that the Borrower shall be bound by the changed Interest Rate and repay the Loan accordingly;

(e) all information provided by the Borrower to the Lender in connection with the Loan or Loan Documents are true, complete and accurate in every respect;

(f) all copies of documents submitted for the purpose of the Loan are true, genuine, complete and accurate;(g) subsequent to submitting the Application Form there has been no change which would adversely affect the

provision of the Loan;(h) there are no legal proceedings, or investigations pending or to the knowledge of the Borrower, threatened, by or

against the Borrower or in respect of the Property before any court of law or Government or any other competent authority nor has the Borrower been served with any notice for infringing the provisions of the municipal act or any other act relating to local bodies or gram panchayats or local authorities or with any other process under any of these acts;

(i) there are no mortgage, charges, lis pendens or liens or other encumbrances or any rights of way, or other easements or right of support on the whole or any part of the Property;

(j) the Property is not included in or affected by any of the schemes of central/state government or of the improvement trust or any other public body or local authority or by any alignment widening or construction of road under any scheme of the central/state government or of any corporation, municipal committee, gram panchayat, etc.;

(k) the Borrower has paid all public demands such as Taxes and revenues payable to the Government authorities and that at present there are no arrears of such taxes and revenues due and outstanding and that the Borrower shall continue to meet such payment obligations;

(l) all the necessary approvals for availing the Loan and creating the Security have been obtained or shall be obtained within such timelines as required by the Lender;

(m) the Borrower is entitled and empowered to borrow, provide the Security Documents, execute the promissory notes and all other documents in connection with the Loan and upon execution, the same will create legal, valid and binding obligations on the Borrower;

(n) the Borrower’s obligation under this Agreement will constitute private and commercial acts done and performed for private and commercial purposes and the Borrower will not be entitled to claim immunity for themselves or the Property or any part thereof from suit, execution, attachment or legal process in any proceedings in relation to this Agreement;

(o) other than as disclosed to the Lender, the Borrower has not taken any other loan, advance or debt of any nature whatsoever from any other lender nor provided any guarantee or Security in relation to any loan, advance or debt of any nature whatsoever granted by a lender to any other Person(s);

(p) the Borrower has explained the terms of the Loan, this Agreement and other relevant Loan Documents to the Guarantor(s);

(q) the Borrower acknowledges, understands and agrees that the loan account number of the Borrower (maintained with the Lender) may be varied and/or changed in the systems of the Lender pursuant to the roll-over/renewal of the Loan and there may be more than one loan account number(s) for the same. The Borrower further acknowledges, understands and agrees that at times the various loan account numbers of the Borrower in the system of the Lender may also be clubbed into one loan account number pursuant to roll over(s)/renewal(s) of the Loan from time to time. However, the Borrower hereby acknowledges, understands and agrees that such variation or change in the loan account number shall not affect the priority of the security furnished for the benefit of the Lender in relation to the Loan; and


(r) the Borrower acknowledges, understands and agrees that the Lender shall not in any event or circumstance be liable or be construed as being liable in case there is any delay(s) in disbursement of Flexi Loan or the Hybrid Flexi Loan on account of any technical or system errors or other issues of similar nature.

9. DEFAULT

9.1. The Borrower shall be deemed to have committed an act of default if the Borrower does not comply with its obligations as mentioned in this Agreement and also on the happening of any one or more of the following events, (each an “Event of Default” and collectively “Events of Default”):(a) The Borrower fails to pay any EMI or the Outstanding Dues under this Agreement on or before the Due Date or

commits breach of any of the terms, covenants or conditions contained in this Agreement and/or Loan Documents; (b) Any Guarantor or any Security provider (other than the Borrower) commits breach of any of the terms, covenants or

conditions contained in the Guarantee and/or the other Loan Documents;(c) Where an individual being the Borrower, opts to resign or retires from employment prior to the age of superannuation

or is discharged or removed from service before such date for any reason whatsoever;(d) The death, failure in business, insolvency or bankruptcy of the Borrower or any Guarantor and resulting in cases

where any reference is made/referred against the Borrower, under the Insolvency and Bankruptcy Code 2016 as amended from time to time to time and any proceedings thereunder;

(e) General assignment for the benefit of creditors by the Borrower or Guarantor;(f) Failure of the Borrower and/or the builder and/or the developer to comply with the provisions of law, including the

RERA Act;(g) Occurrence of any event which has a Material Adverse Effect or there any event which is likely to have a Material

Adverse Effect;(h) The Borrower or Guarantor suspends payment to any creditors or threatens to do so, admits its inability to pay its

debts or any bankruptcy or insolvency petition is filed by or against the Borrower or Guarantor or any application is initiated under the Insolvency and Bankruptcy Code 2016;

(i) The Borrower being an individual gets divorced;(j) There is any change in the constitution, management of the Borrower (in case the Borrower is a limited liability

partnership/partnership firm/company);(k) The Borrower fails to create Security as provided herein or the value of the Property or any Security (including

guarantee/s) created or tendered by the Borrower, in the sole discretion and decision of the Lender, depreciates entitling the Lender to call for further security and the Borrower fails to give additional Security;

(l) The Property is destroyed, sold, disposed of, charged, encumbered, alienated, attached or restrained in any manner;(m) Any permission, authorization, issued by the competent authority(ies) with respect to legality of the Property is

withdrawn or cancelled or withheld for any reason whatsoever;(n) The Borrower directly or indirectly assigns his rights or obligations under this Agreement in part or in whole to any

Person;(o) The Borrower defaults in payment of any other loan with the Lender or any other creditors;(p) The Lender, for any regulatory or other reasons, is unable or unwilling to continue the Loan;(q) Any document to be submitted to the Lender post the disbursement of the Loan, has not been submitted to the

Lender within 60 (sixty) days of disbursement of the Loan or within such extended time as may be agreed by the Lender in its sole discretion; and/or

(r) Any of the information provided by the Borrower to avail the Loan or any of his Representations and Warranties herein being found to be or becoming incorrect or untrue.

9.2. The Borrower hereby agrees that the occurrence of any Event of Default as mentioned above shall also be treated as an event of default under any other loan being availed by the Borrower from the Lender, and the Lender is hereby authorised by the Borrower to retain and to continue to hold and/or set off, realise and/or sell any assets of the Borrower held by the Lender as a security and/or otherwise and adjust the proceeds thereof towards repayment of the Loan including any Interest on the Loan and other charges due and payable by the Borrower to the Lender.

10. CONSEQUENCES OF DEFAULT

10.1. Upon the occurrence of Default, and at any time thereafter, if any such event shall be continuing, the Lender may:(a) accelerate the repayment of the Outstanding Dues including Loan;(b) place the Loan on demand or declare all Outstanding Dues payable by the Borrower in respect of the Loan to be

due and payable immediately;(c) charge default Interest at the Default Interest Rate and any other applicable penal charges including Bounce Charges;(d) take possession of the Property on which Security so created whether by itself or through any of the recovery

agents or attorneys as may be appointed by the Lender;


(e) exercise such other rights and remedies as may be available to the Lender under the Indian law during the pendency of the Loan;

(f) stipulate such other condition/s or take such other action/s as the Lender deems fit; (g) Revise the applicable Interest Rate and/or(h) at its sole discretion, publish the name, address, photograph, Security details and such other information of the

Borrower as the Lender deems fit, in electronic, print and social media, and that such publication shall also include the fact of such Default; and the Borrower agrees that the Lender is not responsible or liable for any harm and/or damage caused to the Borrower, whether monetary or otherwise, because of the publication of such information.

10.2. Upon the occurrence and continuation of Default, the Lender and/or any of the Lender’s Group companies are authorised at any time, without presentment, demand, protest or other notice of any kind to the Borrower or to any other Person, any such notice being expressly waived, to set off and to appropriate and apply any and all monies lying or deposited or held by the Lender and/or any the Lender’s Group companies. The Borrower agrees, declares and confirms that, notwithstanding any of the provisions of the Indian Contract Act, 1872 or any other applicable Indian law, or any terms and conditions to the contrary contained in this Agreement, the Lender and/or any of the Lender’s Group companies may, at their absolute discretion, appropriate any payments made by the Borrower under this Agreement or any amounts realised by the Lender by enforcement of Security or otherwise, towards the dues payable by the Borrower to the Lender under this Agreement and/or other agreements entered into between the Borrower and the Lender and in any manner whatsoever.

11. DISCLOSURE

11.1. The Borrower agrees and understands that as a pre-condition relating to the grant of the Loan to the Borrower, the Lender requires the Borrower’s consent for the disclosure by the Lender of information and data relating to the Borrower, of the Loan availed of/to be availed by the Borrower, obligations assured/to be assured by the Borrower in relation thereto, default, if any, committed by the Borrower in discharge thereof and any other information made available by the Borrower to the Lender. The Borrower further declares that the information and the data furnished by the Borrower to the Lender is true and correct.

11.2. Accordingly, the Borrower agrees and gives consent for the disclosure by the Lender, if required under the Indian law, of all or any such:(a) information and data relating to the Borrower;(b) the information or data relating to Loan availed of/to be availed by the Borrower; and(c) default, if any, committed by the Borrower in discharge of such obligation as the Lender may deem appropriate

and necessary to disclose and furnish to Credit Information Bureau of India Limited (“CIBIL”) and any other agency authorised in this behalf by RBI.

11.3. In the event of the Borrower committing a default in the repayment of Outstanding Dues on the Due Dates, the Lender shall have an unqualified right to disclose the name of the Borrower to RBI, stock exchange, auditors, CIBIL and any other agency authorised in this behalf by the RBI. The Borrower gives its consent to the Lender and/or RBI and/or CIBIL to publish their name as defaulters in such manner and through such medium as the Lender/RBI and/or CIBIL in their absolute discretion may think fit.

11.4. The aforesaid right shall be available to the Lender in addition to and not in derogation of any other rights available under the Agreement.

11.5. Borrower further agrees and understands that:(a) CIBIL and any other agency so authorised may use and/or process the said information and data disclosed by the

Lender in the manner as deemed fit by them; and(b) CIBIL and any other agency so authorised may furnish for consideration the processed information and data or

products thereof prepared by them, to Lender/financial institutions and other credit grantors or registered users, as may be specified by the RBI in this behalf.

11.6. The Borrower agrees and understands that the Lender may also disclose any information/documents relating to the Borrower to any third party including Lender’s Group companies for promotional purposes or any other purpose as Lender may deem fit.

12. ASSIGNMENT AND TRANSFERThe Lender shall at any time, without any consent of or notice to the Borrower be entitled to securitise, sell, assign, novate discount or transfer all or any part of the Lender’s right and obligations under this Agreement or other Loan Documents, to any Person(s) and in such manner and on such terms as the Lender may decide. Any such sale, assignment, novation, securitization or transfer shall conclusively bind the Borrower. The Borrower shall not be entitled to directly or indirectly assign or in any manner transfer, whether in whole or part, any rights, the benefit or obligations under the Loan Documents.


13. LENDERS APPOINTMENT OF AGENTThe rights, powers and remedies available to the Lender under applicable Indian laws and under these present, shall be exercised by the Lender through any of its employees, authorised personnel or agent and the Lender may delegate any or all of the said powers and authorities to such employees, authorised personnel or agents.

14. INDEMNIFICATIONThe Borrower shall indemnify the Lender (or its directors, employees, representatives, agents and their affiliates), on demand, notwithstanding the completion of the transactions contemplated herein, against any cost, loss, tax, damages, penalties, claims, actions, judgments, suits, outstanding due to or liability (including legal fees and out of pocket expenses) incurred by the Lender (or its directors, employees, representatives and agents and their affiliates as a result of:

(a) the Lender entering into the Loan Documents and granting the Loan to the Borrower;(b) the occurrence of the Default;(c) investigating any event which the Lender reasonably believes is a Default;(d) acting or relying on any notice, request or instruction from the Borrower which the Lender reasonably believes to

be genuine, correct and appropriately authorized;(e) any legal proceeding (whether or not the Lender is a party thereto) related to the entering into and/or performance

of any transaction document or the use of the proceeds of the Loan;(f) taking, holding, protecting or enforcing any security created in favour of the Lender;(g) misrepresentation, breach of promise;(h) exercising any of the rights, powers, discretions or remedies vested under the Agreement or by law; or(i) any action or proceedings made or brought against the Lender, their respective correspondents or confirming banks

or agents; except for any loss, damage liabilities or expenses caused by the gross negligence or wilful misconduct of the Lender (or its directors, employees, representatives and agents and their affiliates).

15. GOVERNING LAWThe validity, interpretation, implementation and resolution of disputes arising out of or in connection with this Agreement shall be governed by the Indian law.

16. DISPUTE RESOLUTIONThe Lender reserves the right to initiate action and/or proceed to invoke the security for recovery of its dues under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI”) and rules and regulations made thereunder and/or any other Debt recovery laws available to the Lender from time to time.

17. SEVERABILITYIf any provision of this Agreement is held to be illegal, invalid, or unenforceable under the Indian law, and if the rights or obligations of the Parties under this Agreement will not be materially and adversely affected thereby: (a) such provision will be fully severable; (b) this Agreement will be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a part hereof; and (c) the remaining provisions of the Agreement will remain in full force and effect and will not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom.

18. WAIVERAny delay in exercising or omission to exercise any right, power or remedy accruing to the Lender under this Agreement or any other agreement or document shall not impair any such right, power or remedy and shall not be construed to be waiver thereof or any acquiescence in any default, nor shall the action or inaction of the Lender in respect of any default or any acquiescence by it in any default affect or impair any right, power or remedy of the Lender in respect of any other default.

19. NOTICE

19.1. Any notice to be given to the Borrower shall be deemed to have been validly given if served on the Borrower via electronic mail at the e-mail address provided by the Borrower or sent by courier or left at the address of the Borrower, as provided to the Lender or at the Borrower’s existing or last known business or private address. Any such notice sent by courier shall be deemed to have been received by the Borrower within 48 (forty-eight) hours from the time of its posting.

19.2. Without prejudice to all other rights as the Lender or any of the third parties appointed by the Lender may have under this Agreement and under the Indian law, on the occurrence of an Event of Default, the Lender, its authorised representatives, agents, and third parties as appointed by the Lender are authorised to use the contact details provided by the Borrower to contact the Borrower (including the authorised signatory(ies)/representative(s), guarantor(s) (if any) and third parties including the family members of the Borrower) whose information the Borrower has provided to the Lender. Also, the Borrower hereby provides express consent for receiving reminders from time to time for settlement of any Outstanding


Dues by post, fax, telephone, e-mail, SMS text messaging via mobile phone.

19.3. The Borrower hereby agrees and consents to the Lender for not registering his/her contact number in the “Do Not Call Registry”.

20. TERMINATIONNotwithstanding anything to the contrary herein, the Lender may at any time at its absolute discretion cancel the Loan and terminate this Agreement without giving any reason therefore and without prior notice to the Borrower to the extent not contrary to applicable Indian law. All monies owing under the Loan together with all charges (if any) thereon shall become immediately due and payable.

21. CONSEQUENCES OF TERMINATIONTermination or expiration of this Agreement for any reason shall not relieve the Borrower from any liabilities or obligations set forth in this Agreement which (a) the Borrower has expressly agreed shall survive such termination or expiration; or (b) remain to be performed or by their nature would be intended to be applicable following any such termination or expiration.

22. APPROPRIATIONWithout prejudice to any other term of this Agreement, the Parties expressly agree that any payment made by the Borrower to the Lender under this Agreement shall be appropriated by the Lender in the following order-

(a) costs, charges and expenses that the Lender may expend to service, enforce and maintain the Security and therefore recover the Loan, and all cost, charges, expenses, incidental charges and other monies payable by the Borrower to the Lender under this Agreement;

(b) Penal Interest;(c) Interest on Outstanding Dues at the Interest Rate;(d) Principal amount of the Loan outstanding; and(e) Any other sum/charges payable by the Borrower to the Lender.

23. MISCELLANEOUS

23.1. This Agreement may be executed in counterparts and each counterpart shall be deemed to be original.

23.2. This Agreement shall inure for the benefit of the Lender’s successors and assigns, and shall be binding on the Borrower, his/her estate, effects, successors, legal heirs, legal representatives and permitted assignees, including (i) partners of the Borrower where the Borrower is a partnership firm, and each of the partners respective heirs, executors, administrators, representatives, successors and permitted assigns; (ii) proprietor(ess) of the Borrower where the Borrower is a sole proprietorship firm their/her heirs, executors, administrators, representatives, successors and permitted assigns.

23.3. It is hereby agreed between the parties that the terms set in Schedule I may be amended, revised, substituted by way of written communication by the Lender to the Borrower from time to time. Such correspondences between the Lender and acceptance thereof by the Borrower shall be deemed to be an integral part of this Agreement and shall be read in conjunction thereof.

23.4. All or any other conditions as specified in the Sanction Letter shall form an integral part of this Agreement and the Sanction Letter shall always be used in conjunction with this Agreement at all times.

23.5. The Borrower acknowledges to have read and understood all the ___ (mention no. of pages) pages containing terms of this Agreement and is affixing his/her/its’ signature/common seal on the last page of the Agreement evidencing the same. The Borrower further agrees and confirms that the Parties shall not be required to sign at each page of this Agreement and the signatures at the last page of this Agreement would be sufficient for the purposes of this Agreement.

Borrower’s Signature Co-Borrower’s Signature Co-Borrower’s Signature

Co-Borrower’s Signature Co-Borrower’s Signature Co-Borrower’s Signature


SECTION B

TERMS AND CONDITIONS APPLICABLE IN RELATION TO “FLEXI LOAN”

1. DEFINITIONS AND INTERPRETATIONFor the purposes of this section, in addition to the definitions set out under Section A (General Terms and Conditions), following words and expressions shall have the meanings as set-out in this Clause 1:

“EPR Repayment” means the equated principal dropline method of repayment which may be availed by the Borrower for repayment of the Outstanding Dues under the Flexi Loan by which, the limits available for drawdown under the Flexi Loan will be deducted on an equitable basis over the period of the Flexi Loan Tenor, such that the available limits are reduced to nil at the end of the Flexi Loan Tenor;

“Flexi Loan” means the loan as may be granted by the Lender to the Borrower (a) for an amount equivalent to the amount prepaid by the Borrower in part or full under Clause 4 (Prepayment) herein above/or repaid on the part of the EMI of the Loan; and (b) as a top up amount over and above the Loan Amount, at the sole discretion of the Lender and shall be subject to the terms and conditions set out under Part B of Schedule I of this Agreement;

“Flexi Loan Repayment Date” means the date, on or before which each EMI with respect to the Flexi Loan is to be repaid by the Borrower, as more specifically mentioned in Part B of Schedule I to this Agreement;

“Flexi Loan Tenor” means the Tenor of the Flexi Loan as specified in Schedule I of this Agreement;

“WDV Repayment” means the written down value dropline method of repayment which may be availed by the Borrower for repayment of the Loan Amount along with the Interest under the Flexi Loan by which, the limits available for drawdown under the Flexi Loan are reduced by the written down value method over the period of the Flexi Loan Tenor, such that the available limits are reduced to nil at the end of the Flexi Loan Tenor.

2. LOAN

2.1. The Borrower may request the Lender and the Lender may at its sole discretion agree to make available to the Borrower, the Flexi Loan and the Flexi Loan shall be subject to the terms and conditions set out under Part B of Schedule I of this Agreement and the terms of the Loan Documents.

2.2. At the request of the Borrower, the Lender may at its sole discretion and option agree to grant a Flexi Loan whether it is for the same principal amount or any lesser amount, and for such further periods as the Lender may deem fit at its sole discretion and also subject to the Lender’s discretion in revising any of the terms and conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower.

2.3. The Flexi Loan may be availed by the Borrower with a repayment schedule determined as per the EPR Repayment Method or the WDV Repayment Method as may be specified in Part B of Schedule I.

2.4. The Lender shall, in relation to the Loan have the right to withdraw/block/freeze/recall/terminate/convert to term loan the Flexi Loan at its sole discretion at any time without assigning any reason thereof.

3. COVENANTS The Borrower hereby irrevocably and unconditionally covenants with the Lender that, during the pendency of the Loan, the Borrower shall deliver to the Lender fresh PDCs or Payment Instrument for an amount equivalent to the amount availed under the Flexi Loan.

Upon availing the Flexi Loan, in addition to the General terms stipulated under Section A and B above, the terms set out under Part B of Schedule I shall become applicable with respect to the Flexi Loan.




SECTION CTERMS AND CONDITIONS APPLICABLE IN RELATION TO “HYBRID FLEXI LOAN”


“Dropline Loan Tenor” means the Tenor under the Hybrid Flexi Loan with respect to which repayment shall be made by the Borrower by way of either the EPR Repayment method or WDV Repayment method, as may be specified under Part C of Schedule I.“EPR Repayment” means the equated principal dropline method of repayment which may be availed by the Borrower for repayment of the Outstanding Dues under the Hybrid Flexi Loan by way of which, the limits available for drawdown under the Hybrid Flexi Loan will be deducted on an equitable basis over the period of the Hybrid Flexi Loan Tenor, such that the available limits are reduced to nil at the end of the Hybrid Flexi Loan Tenor, as may be specified under Part C of Schedule I.“Flexi Saver Pure Repayment” means the Borrower will have the option/flexibility to pay interest portion forming part of EMI, and the Loan Amount shall be separately repayable on or before the Repayment Date or the Flexi Loan Repayment Date or the Hybrid Flexi Loan Repayment Date.

“Flexi Saver Pure Repayment Tenor” means the Tenor of the Hybrid Flexi Loan with respect to which repayment shall be made by way of the Flexi Saver Pure Repayment method, as specified in Part C of Schedule I. “Hybrid Flexi Loan” means the loan as may be granted by the Lender to the Borrower which shall be repaid by way of the Flexi Saver Pure Repayment during the Flexi Saver Pure Repayment Tenor as identified under Part C of Schedule I and shall be repaid using either of the EPR Repayment method or the WDV Repayment method during the Dropline Loan Tenor.

“Hybrid Flexi Loan Repayment Date” means the date, on or before which each EMI with respect to the Hybrid Flexi Loan is to be repaid by the Borrower, as more specifically mentioned in Part C of Schedule I to this Agreement.

“WDV Repayment” means the written down value method of repayment which may be availed by the Borrower for repayment of the Loan Amount along with the Interest under the Hybrid Flexi Loan by way of which, the limits available for drawdown under the Hybrid Flexi Loan are reduced by the written down value method over the period of the Hybrid Flexi Loan Tenor, such that the available limits are reduced to nil at the end of the Hybrid Flexi Loan Tenor, as may be specified under Part C of Schedule I.

2. LOAN

2.1. The Borrower may request the Lender and the Lender may at its sole discretion agree to make available to the Borrower, the Hybrid Flexi Loan, which shall be subject to the terms set out under Part C of Schedule I of this Agreement and the terms and conditions of the Loan Documents.

2.2. At the request of the Borrower, the Lender may at its sole discretion and option agree to grant a Hybrid Flexi Loan whether it is for the same principal amount or any lesser amount, and for such further periods as the Lender may deem fit at its sole discretion and also subject to the Lender’s discretion in revising any of the terms and conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower.

2.3. The Hybrid Flexi Loan shall be availed by the Borrower with a repayment schedule determined as per the Flexi Saver Pure Repayment method with respect to the Flexi Saver Pure Repayment Tenor and as per the EPR Repayment Method or the WDV Repayment Method as may be specified in Part C of Schedule I with respect to the Dropline Loan Tenor.

2.4. The Lender shall, in relation to the Loan have the right to withdraw/block/freeze/recall/terminate/convert to term loan the Hybrid Flexi Loan at its sole discretion at any time without assigning any reason thereof.

3. COVENANTS The Borrower hereby irrevocably and unconditionally covenants with the Lender that, during the pendency of the Loan, the Borrower shall deliver to the Lender fresh Payment Instrument for an amount equivalent to the amount availed under the Hybrid Flexi Loan.

Upon availing the Hybrid Flexi Loan, in addition to the General Terms stipulated under Section A and C above, the terms set out under Part C of Schedule I, shall become applicable with respect to the Hybrid Flexi Loan.




Part A

General Terms and Conditions

Sl.No Particulars Details1. Date and Place of the

execution of the AgreementPlace:Date, Month and Year:

2. Details of the Borrower Name:Constitution:Email Address and Mobile No.:Address:

2a. Details of the Co-Borrower 1 Name:Constitution:Email Address and Mobile No.:Address:

2b. Details of the Co-Borrower 2 Name:Constitution:Email Address and Mobile No.:Address:

2c. Details of the Co-Borrower 3 Name:

Constitution:Email Address and Mobile No.:Address:

2d. Details of the Co-Borrower 4 Name:Constitution:Email Address and Mobile No.:Address:

2e. Details of the Co-Borrower 5 Name:Constitution:Email Address and Mobile No.:Address:

3. Details of Guarantor 1 Name:Constitution:Email Address and Mobile No.:Address:

3a. Details of Guarantor 2 Name:Constitution:Email Address and Mobile No.:Address:


4. Loan Amount5. Penal Interest 2 % per month in addition to the current Interest Rate6. Processing Fee _____ % of the Loan Amount7. Other Charges Amounts and When Payable

(a) Prepayment Charges(b) Bounce Charges(c) Outstation Collection

Charges(d) PDC Swap Charges

8. Repayment Mode9. Details of Payment Instrument Number:

Name of the Drawee Bank:Account Number:Branch Name:

10. Security (a) First charge by way of mortgage over below listed Properties in favour of the Lender.

(b) ____________ guarantee from the Guarantor, if any. and(c) any other security to be specified.

11. Details of Property(ies)

12. Loan Tenor13. Repayment Date for Payment

of EMI14. Interest Rate Applicable Interest Rate: Floating Rate of Interest/Fixed rate of

Interest for __ MonthsFloating rate of Interest: Spread + BHFL FRRSpread: ______%Prevailing BHFL FRR: ______%Fixed Rate of Interest: ______% p.a./Monthly Reducing

15. EMI Amount16. Pre EMI Amount17. Rate Guarantee Whether Availing Rate Guarantee: � Yes � No

Rate Guarantee Details: As mentioned in Annexure B18. Flexible EMI Holiday Whether availing Flexible

EMI Holiday:� Yes � No

If Yes, EMI Holiday Month:Duration of Flexible EMI Holiday:


Part B

Additional Terms and Conditions for Flexi Loan

(Applicable Under Section B of the Agreement)1

Sl. No Particulars Details1. Amount of Loan under

Principal Loan Agreement2. Amount of Flexi Loan3. Flexi Loan Interest Rate Applicable Interest Rate: Floating Rate of Interest/Fixed rate of

Interest for __ MonthsFloating rate of Interest: Spread + BHFL FRRSpread: ______%Prevailing BHFL FRR: ______%Fixed Rate of Interest: ______% p.a./Monthly Reducing

4. Flexi Loan Tenor5. Annual Maintenance Charge ________% of the Loan availed on which the roll over facility is being

extended by BHFL, payable every year in advance as communicated by BHFL from time to time.

6. Flexi Loan Repayment Date

7. EMI Amount

8. Repayment Variant � WDV Repayment � EPR Repayment 9. Bank Account Details Bank Name

Account Number

_________________________

1Strike out if not applicable.


Part C

Additional Terms and Conditions for Hybrid Flexi Loan2

(Applicable Under Section C of the Agreement)


Principal Loan Agreement2. Amount of Hybrid Flexi Loan3. Hybrid Flexi Loan Interest

RateApplicable Interest Rate Floating Rate of Interest/Fixed rate of

Interest for __ MonthsFloating rate of Interest Spread + BHFL FRRSpread ______%Prevailing BHFL FRR ______%Fixed Rate of Interest ______% p.a./Monthly Reducing

4. Hybrid Flexi Loan Tenor5. Flexi Saver Pure Repayment

Tenor6. Dropline Loan Tenor7. Annual Maintenance Charge _________% of the Loan availed on which the roll over facility is being


8. Hybrid Flexi Loan Repayment Date

9. EMI Amount during Flexi Saver Pure Repayment Tenor

10. EMI Amount during Dropline Loan Tenor

11. Repayment Variant � Flexi Saver Pure Repayment + WDV Repayment� Flexi Saver Pure Repayment + EPR Repayment

12. Bank Account Details Bank Name

Account Number

_________________________



ANNEXURE A

Foreclosure and Part-Prepayment Charges

In addition to the terms and conditions contained in the Agreement and other Loan Documents the following terms and conditions shall be applicable for the Loan. The terms used but not defined herein shall have the meanings ascribed to them in the Agreement.

The Borrower understands and agrees that Pre-payment Charges will be applicable to the Loan/s availed by the Borrower as per the details mentioned below:

All Mortgage Products

Floating Rate: Individual Borrowers Term Loan Flexi Loan Hybrid Flexi Time Period (Months) >1 >1 >1Foreclosure Charges Nil Nil Nil Part Payment Charges Nil Nil Nil (a) Floating Rate: Non-Individual Borrowers (b) Fixed Rate: All Borrowers (including individuals) Term Loan Flexi Loan Hybrid Flexi Time Period (Months) >1 >1 >1Foreclosure Charges 4%* on Principal

Outstanding 4%* on Dropline Amount

4%* on Sanctioned Amount during Flexi Saver Pure Repayment Tenor; and 4%* on Dropline Amount during Dropline Loan Tenor

Part Payment Charges 2%* NA NA

* Goods and Services Tax as applicable will be levied for all products.

Conditions for part prepayment:

1. Amount of part prepayment has to be equal to or greater than at least 1 EMI.

2. The full and/or part prepayment can be made by the Borrower only after clearance of first monthly instalment by the Borrower.

3. The above part prepayment charges are not applicable to Flexi and Hybrid Flexi loans availed by the Borrower, unless communicated by the Lender to the Borrower at a subsequent date.




ANNEXURE B

TERMS AND CONDITIONS OF THE RATE GUARANTEE

1. COMMENCEMENT OF THE RATE GUARANTEE (“GUARANTEE”)

1. The Guarantee commences upon the following: (a) Acceptance of Terms and Conditions, in full, by the Borrower (b) Receipt of a signed copy of the Terms and Condition by the Lender.

2. The Lender to check the difference in interest rate of the customer and the interest rate offered to the new customer on every 7th of the month. Interest Rate benefit under the rate guarantee scheme (if any) will be effective from 1st of subsequent month.

3. This feature is only applicable on the Home Loan. Top-up, if any, shall not be covered under the Rate Guarantee programme.

2. GENERAL OBLIGATIONS

1. Interest Rate for new customers to be updated by the Lender on its Website.

2. The Borrower has to abide by the terms of the Loan Agreement for this Guarantee to stay operative.

3. The amount disbursed vide the Loan should only be used for the purposes specified in the Loan.

4. The Borrower understands that Guarantee runs parallel to the Loan Agreement, and not in spite of it.

3. DURATION

1. The Guarantee subsists from the date of acceptance till the date the Loan Account is closed, unless the Guarantee is terminated as per clause 4 below.

4. TERMINATION

1. The Guarantee will be terminated in case there is a breach of the terms of the Loan Agreement or these Terms and Conditions of Rate Guarantee or in case of any Event of Default.

2. The Guarantee will be terminated with immediate effect in case of (a) Three bounces during tenor of loan. (a) More than one EMI pending at any given point of time during the tenor of the loan. (a) Post disbursement documents are overdue for more than 90 days.

5. EVENTS OF DEFAULT

1. A default shall be deemed to have been committed if the Borrower(s) does not comply with its obligations contained in these Terms and Conditions, or: (a) If it is found that the Borrower(s) has/have made any misrepresentations to the Lender. (b) If the Borrower is deceased, becomes insolvent/compounds with his creditors or permits any attachment or

sequestrations or other process against any of his assets or properties. (c) If the Borrower(s) is a partnership firm, any of the partners become insolvent, or compounds with his creditors,

or permits any attachment or sequestrations or other process against any of his assets or properties, including his share in the firm.

(d) If there exist any circumstances which in the opinion of the Lender jeopardizes its interest or security; or the Borrower(s) commits any default under any other terms and conditions with the Lender.

6. SEVERABILITY

1. If a provision of a contract under these terms and conditions is determined by any court or other competent authority to be unlawful and/or unenforceable, the other provisions will continue in effect.

I/We agree to the above terms and condition and wish to avail the rate guarantee features offered by the Lender.




SCHEDULE II

AFFIDAVIT-CUM-UNDERTAKING BY APPLICANTI/We, ___________________________________________ aged ___________, son/daughter of _____________________________ with permanent account number _______________________ and resident(s) of __________________________________________________________________________________________________, do hereby solemnly affirm, undertake, agree and acknowledge as follows:

1. I/We have made an application to Bajaj Housing Finance Limited (the “Lender”) for a home loan and the Lender has sanctioned a home loan to me of an aggregate principal amount of up to Rs. __________________ (the “Loan”) vide their sanction letter dated ___________________ for the purpose of [construction of a house/building on a plot/land owned by me]/[purchase of a house/flat under construction]/[purchase of an existing house/flat] situated at ________________________________________________________________________________________________________________________ (the “Residential Property”).

2. [I/We have obtained the necessary permission for the said construction of the Residential Property from ____________________________________________________ [Name and address of the office competent to approve the plan]. The copy of the sanctioned plan is annexed to this affidavit.

I/We undertake to construct the Residential Property as per the sanctioned plan. I/We will not violate the sanctioned plan and the building buy-laws and it shall be my sole responsibility to obtain construction completion certificate within 3 months of completion of the construction.]

OR[The builder/developer has obtained the necessary permission for the construction of the Residential Property proposed to be purchased by me and I/we have personally verified the original sanctioned plan (the copy of which is annexed herewith) and have visited the construction site and have satisfied myself that the construction is being done strictly as per the sanctioned plan and there is no violation of the building by-laws.]

OR[The Residential Property proposed to be purchased by me has been constructed as per the sanctioned plan and all the building bye-laws. The completion certificate issued by the competent authority in respect of the building is obtained, the certified true copy of which is annexed herewith.]

3. I/We shall use the Residential Property only for residential purposes.

4. [The Residential Property does not fall under the category of unauthorised colonies.]

OR [The Residential Property falls under the category of unauthorised colony but has been regularised pursuant to __________________ _________________________________________________________________ and all applicable development and other charges have been paid on the Residential Property.]

5. The Loan and the Residential Property is in compliance with all applicable laws including but not limited to all guidance/circulars notifications issued from time to time by the National Housing Bank or any other regulatory authority.

I hereby solemnly, affirm, agree and acknowledge that any misrepresentation or failure by me to comply with any of the aforementioned terms would provide the Lender with the right to immediately recall the entire outstanding Loan together with interest, costs and any other

Usual charges.

Solemnly Affirmed at _____________ on This _____________ Day of _____________, 201__.

DEPONENT

VERIFICATION:

I/We, the Deponent abovenamed, do hereby verify that the contents of the Affidavit-cum-Undertaking are true and correct and nothing

material is concealed therefrom.

Verified at ____________________ on this the ____________________ day of ____________________, 201__.

DEPONENT


IN WITNESS WHEREOF the parties have executed this Agreement on the day and the year as mentioned in the Schedule I,

If a company, pursuant to the resolution of its Board of Directors passed in their meeting held on________________, the Common Seal of___________has been affixed in the presence of____________, director of the Borrower company, who has in token thereof signed this Agreement.

OR

If a limited liability partnership, pursuant to the resolution of its partners passed in their meeting held on___________, the common seal of___________________has been affixed in the presence of____________, partner of the Borrower company, who has in token thereof signed this Agreement/SIGNED AND DELIVERED by the within named Borrower,_______________, an LLP, by the hand of__________________, its Partner and Authorised Signatory.

OR

If a partnership firm, signed and delivered by the within named Borrower,______________________________________, a partnership firm, by the hand of________________________, its Partner and Authorised Signatory, authorised vide letter of authority dated______________________________________.

OR

If a sole proprietorship, signed and delivered by the within named Borrower,__________________________________, a Sole Proprietorship, by the hand of____________________, its Sole Proprietor.

OR

If a Hindu undivided family, signed and delivered by the borrower karta of the Hindu undivided family, named_______________________

OR

If an individual, signed and delivered by the Borrower, named _________________

AND

SIGNED AND DELIVERED by the within named Bajaj Housing Finance Limited, the Lender, in its capacity as the Lender, by the hands of ___________________________________________, its authorised official.


DEMAND PROMISSORY NOTE

Rs.______________/- [•] (Rupees_____________________________only)

On demand, I/We [Please insert the name and description of the Borrower] (the ‘Borrower’), jointly and severally promise to pay Bajaj Housing Finance Limited or its order, having its branch/office at____________________ (‘BHFL’ including its successors and assigns), a sum of Rs.____________/- [•] (Rupees ______________________ only) for value received under the loan against property agreement dated______________, together with interest at the rate of________% per annum with__________________________rests, or such other rates which BHFL may specify from time to time.

Revenue stamp of Re.1 tobe affixed

Common seal to be affixed in case of a company

Presentment for payment and noting and protest of this note are hereby unconditionally and irrevocably waived. If a company, pursuant to the Resolution of its Board of Directors passed in their meeting held on_____, the Common Seal

of_________________________________________

has been affixed in the presence of__________________, director of the Borrower company, who has in token thereof signed this Agreement.

OR

If a limited liability partnership, pursuant to the resolution of its Partners passed in their meeting held on_____________________________________________________, the common seal of__________________________has been affixed in the presence of____________________________, partner of the Borrower company, who has in token thereof signed this Agreement/SIGNED AND DELIVERED by the within named Borrower,___________, an LLP, by the hand of_______________________________, its Partner and Authorised Signatory.

OR

If a partnership firm, SIGNED AND DELIVERED by the within named Borrower,________________________, a partnership firm, by the hand of_________________, its Partner and Authorised Signatory, authorised vide letter of authority dated____________.

OR

If a sole proprietorship, signed and delivered by the within named Borrower,__________________, a Sole Proprietorship, by the hand of___________________________, its Sole Proprietor.

OR

If a Hindu undivided family, SIGNED AND DELIVERED by the Borrower karta of the Hindu undivided family, named_________________

OR

If an Individual, SIGNED AND DELIVERED by the Borrower, named__________________________________

Place:

Date:


SCHEDULE III

TOP-UP LOAN ADDENDUM TO THE LOAN AGREEMENT

This Addendum to the Loan Agreement (the “Top-up Loan Addendum”) is made at the place and on the date as set out in Annexure IBETWEEN

BAJAJ HOUSING FINANCE LIMITED, a company incorporated under the provisions of the Companies Act, 1956, and a ‘Company’ as envisaged under the Companies Act, 2013, and having its registered office at Mumbai-Pune Road, Akurdi, Pune – 411035, Maharashtra and corporate office at S. No. 208/1-B 5th Floor, Viman Nagar, Pune – 411014, Maharashtra (“BHFL” or the “Lender”, which expression shall, unless repugnant to the context, include its successors and assigns) of the First Part; AND

The Borrower, material particulars whereof are described and set out in Schedule I of the Principal Loan Agreement, of the OTHER PART.

Lender and Borrower are hereinafter collectively referred to as “Parties” and individually as “Party”.

WHEREAS:(a) Pursuant to the Home Loan Agreement dated _______________ (the “Principal Loan Agreement”) entered into between

the Borrower and the Lender, the Lender had granted the Loan to the Borrower for the amount mentioned in Annexure I, on the terms and conditions set out in the Principal Loan Agreement and the other Loan Documents.

(b) The Parties are now desirous of entering into this Top-up Loan Addendum in relation to the Top-up Loan proposed to be granted by the Lender to the Borrower pursuant to the request of the Borrower.

NOW, THEREFORE, in consideration of the foregoing and other good and valid consideration, the receipt and adequacy of which is expressly acknowledged, the Parties, intending to be legally bound, agree as follows:

1. DEFINITIONS AND INTERPRETATION

1.1. DefinitionsAny capitalised terms used but not defined in this Top-up Loan Addendum, shall have the meaning given to it in the Principal Loan Agreement in which they have been defined. Unless the context otherwise requires, the following terms wherever used in this Top-up Loan Addendum (including the recitals), shall have the following meaning, and the definitions of Interest Rate, Loan Tenor and Repayment Date of the Principal Loan Agreement stands deleted and replaced with the definitions of Interest Rate, Loan Tenor and Repayment Date respectively mentioned below:

“Flexi Loan” is to be understood in accordance with its definition stated in Section ‘B’ hereunder

“Hybrid Flexi Loan” is to be understood in accordance with its definition stated in Section ‘C’ hereunder

“Interest Rate” means the rate of Interest in relation to the Top-up Loan as mentioned in the Annexure I to this Top-up Loan Addendum, and as amended from time to time for the Top-up Loan;

“Loan Tenor” shall mean the tenor of the Top-up Loan as specified in Annexure I of this Top-up Loan Addendum;

“Repayment Date” in relation to the Top-up Loan, means the date, on or before which each EMI is to be repaid by the Borrower, as more specifically mentioned in Annexure I to this Top-up Loan Addendum;

“Security” means the extension of mortgage, hypothecation, encumbrance, lien (statutory or other), preference, priority or other security agreement of any kind or nature whatsoever over the Property as detailed in Schedule I to the Principal Loan Agreement, which was created for securing the Home Loan availed under the Principal Loan Agreement, to cover the amount of the Top-up Loan provided under this Top-up Loan Addendum as detailed in Annexure I; and

“Top-up Loan” means the additional loan as requested by the Borrower by submitting the Application Form and as may be granted by the Lender to the Borrower, at the sole discretion of the Lender, and shall be subject to the fulfilment of specified condition of execution of the Top-up Loan Addendum by the Borrower, details of which are provided in Annexure I.

1.2. Principles of constructionTo the extent not expressly excluded, the provisions of the Principal Loan Agreement shall apply to this Top-up Loan Addendum, mutatis mutandis. This Top-up Loan Addendum shall be construed harmoniously with the provisions of the Principal Loan Agreement.


2. SPECIFIC CONDITIONS

2.1. Pursuant to the disbursement of the Top-up Loan by the Lender to the Borrower, the Top-up Loan shall be governed by the terms and conditions of the Loan Documents and this Top-up Loan Addendum.

2.2. In addition, the Borrower further acknowledges, agrees and confirms that in case the Borrower avails of any amount under the Top-up Loan, the rate of Interest and the tenor in respect of the Loan may vary and the Interest Rate/Loan Tenor shall be as intimated by the Lender in the form as mentioned in Annexure I.

2.3. The Security created over the Property to secure the Home Loan under the Principal Loan Agreement shall be extended as Security for the Top-up Loan being availed under this Agreement and the Borrower shall execute all documents and complete all processes required to complete the extension of Security to the amount being availed under the Top-up Loan.

2.4. All the Covenants, Undertakings, Representations and Warranties made by the Borrower in the Principal Loan Agreement continue to be applicable and the Borrower will be bound by the same for this Top-up Loan.

2.5. In case of any Default in either the terms of the Principal Loan Agreement or this Top-up Loan Addendum, it will be treated as an Event of Default for both the Home Loan and the Top-up Loan and the Lender has all the rights as detailed in the Principal Loan Agreement.

2.6. The other terms and conditions for the Top-up Loan have been prescribed in Annexure I.3. AMENDMENT TO THE PRINCIPAL LOAN AGREEMENT

The following shall be added under the Clause 2 (Loan): 3.1. At the request of the Borrower, the Lender may at its sole discretion and option agree to grant Top-up Loan for the Loan

Tenor as the Lender may deem fit at its sole discretion and also subject to the Lender’s discretion in revising any of the terms and conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower. The Borrower shall be liable to pay the applicable stamp duty on this Top-up Loan Addendum in compliance of the applicable Indian laws with respect to the Top-up Loan.

3.2. The following shall be added under the Clause 6 (Borrower’s Covenants and Undertakings):The Borrower undertakes to deliver to the Lender fresh PDCs equivalent to the amount availed under the Top-up Loan.The Security created shall also be Security for (i) the Outstanding Dues, and all other monies that may be due and payable by the Borrower to the Lender, on any account whatsoever, whether present or future, including any liability of the Borrower as a Co-Borrower or Guarantor either singly or jointly; (ii) in the event of Borrower is a company, the loan granted/continued to the group companies/associate companies of the Borrower as declared from time to time.

3.3. The following shall be added under the Clause 7 (Lender’s Rights):The Lender may cancel the Top-up Loan at its sole discretion at any time without assigning any reason thereof.

3.4. The following shall be added under the Clause 8 (Borrower’s Representations and Warranties):The Borrower acknowledges, understands and agrees that the loan account number of the Borrower (maintained with the Lender) may be varied and/or changed in the systems of the Lender pursuant to the roll-over/renewal of the Loan and there may be more than one loan account number(s) for the same. The Borrower further acknowledges, understands and agrees that at times the various loan account numbers of the Borrower in the system of the Lender may also be clubbed into one loan account number pursuant to roll over(s)/renewal(s) of the Loan from time to time.The Borrower acknowledges, understands and agrees that the Lender shall not in any event or circumstance be liable or be construed as being liable in case there is any delay(s) in disbursement of Top-up Loan on account of any technical or system errors, etc. or any other event beyond the control of the Lender.

4. The changes made to the Principal Loan Agreement shall be effective from the date of this Top-up Loan Addendum. 5. This Top-up Loan Addendum is supplemental to the Principal Loan Agreement. 6. All other terms of the Principal Loan Agreement continue in full force without any amendment or waiver. 7. The Borrower acknowledges to have read and understood all the 2 pages containing terms of this Top-up Addendum and is

affixing his/her/its’ signature/common seal on the last page of the Top-up Addendum evidencing the same. The Borrower further agrees and confirms that the Parties shall not be required to sign at each page of this Top-up Addendum and the signatures at the last page of this Agreement would be sufficient for the purposes of this Top-up Addendum.




SECTION B

TERMS AND CONDITIONS APPLICABLE IN RELATION TO “FLEXI LOAN”

1. DEFINITIONS AND INTERPRETATIONFor the purposes of this section, in addition to the definitions set out under Section A (General Terms and Conditions) in the Principal Loan Agreement, following words and expressions shall have the meanings as set-out in this Clause 1:

“EPR Repayment” shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement;

“Flexi Loan” shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part B of Annexure I to this Top-up Loan Addendum;

“Flexi Loan Repayment Date” shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement., as more specifically mentioned in Part B of Annexure I to this Top-up Loan Addendum;

“Flexi Loan Tenor” shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement., as more specifically mentioned in Part B of Annexure I to this Top-up Loan Addendum; and

“WDV Repayment” shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement.

2. LOAN

2.1. The Borrower may request the Lender and the Lender may at its sole discretion agree to make available to the Borrower, the Flexi Loan on the Top-up Loan and the Flexi Loan shall be subject to the terms and conditions set out under Part B of Annexure I to this Top-up Loan Agreement and the terms of the Loan Documents.

2.2. At the request of the Borrower, the Lender may at its sole discretion and option agree to grant a Flexi Loan whether it is for the same principal amount or any lesser amount, and for such further periods as the Lender may deem fit at its sole discretion and also subject to the Lender’s discretion in revising any of the terms and conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower.

2.3. The Flexi Loan may be availed by the Borrower with a repayment schedule determined as per the EPR Repayment Method or the WDV Repayment Method as may be specified in Part B of Schedule I.

2.4. The Lender shall, in relation to the Loan have the right to withdraw/block/freeze/recall/terminate/convert to term loan the Flexi Loan at its sole discretion at any time without assigning any reason thereof.

3. COVENANTS The Borrower hereby irrevocably and unconditionally covenants with the Lender that, during the pendency of the Loan, the Borrower shall deliver to the Lender fresh PDCs or Payment Instrument for an amount equivalent to the amount availed under the Flexi Loan.

Upon availing the Flexi Loan, in addition to the General Terms stipulated under Section A and B above, the terms set out under Part B of Schedule I shall become applicable with respect to the Flexi Loan.




SECTION C

TERMS AND CONDITIONS APPLICABLE IN RELATION TO “HYBRID FLEXI LOAN”


“Dropline Loan Tenor” shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part C of Annexure I to this Top-up Loan Addendum.

“EPR Repayment” shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement.

“Flexi Saver Pure Repayment” shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement.

“Flexi Saver Pure Repayment Tenor” shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part C of Annexure I to this Top-up Loan Addendum.

“Hybrid Flexi Loan” shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part C of Annexure I to this Top-up Loan Addendum.

“Hybrid Flexi Loan Repayment Date” shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part C of Annexure I to this Top-up Loan Addendum.

“WDV Repayment” shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement.

2. LOAN

2.1. The Borrower may request the Lender and the Lender may at its sole discretion agree to make available to the Borrower, the Hybrid Flexi Loan, which shall be subject to the terms set out under Part C of Annexure I to this Top-up Loan Addendum and the terms and conditions of the Loan Documents.

2.2. At the request of the Borrower, the Lender may at its sole discretion and option agree to grant a Hybrid Flexi Loan whether it is for the same principal amount or any lesser amount, and for such further periods as the Lender may deem fit at its sole discretion and also subject to the Lender’s discretion in revising any of the terms and conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower.

2.3. The Hybrid Flexi Loan shall be availed by the Borrower with a repayment schedule determined as per the Flexi Saver Pure Repayment method with respect to the Flexi Saver Pure Repayment Tenor and as per the EPR Repayment Method or the WDV Repayment Method as may be specified in Part C of Annexure I to this Top-up Loan Addendum with respect to the Dropline Loan Tenor.

2.4. The Lender shall, in relation to the Loan have the right to withdraw/block/freeze/recall/terminate/convert to term loan the Hybrid Flexi Loan at its sole discretion at any time without assigning any reason thereof.

3. COVENANTS The Borrower hereby irrevocably and unconditionally covenants with the Lender that, during the pendency of the Loan, the Borrower shall deliver to the Lender fresh Payment Instrument for an amount equivalent to the amount availed under the Hybrid Flexi Loan.

Upon availing the Hybrid Flexi Loan, in addition to the General terms stipulated under Section A and C above, the terms set out under Part C of Schedule I, shall become applicable with respect to the Hybrid Flexi Loan.




ANNEXURE I

PART A

TERMS AND CONDITIONS FOR Top-up LOAN

Sl. No Particulars Details1. Date and Place of the

execution of Top-up Loan Addendum

PlaceDate, Month and Year

2. Amount of Loan under Principal Loan Agreement

3. Top-up Loan Amount4. Processing Fees ____% of the Top-up Loan amount5. Repayment Mode6. Penal Interest 2% per month in addition to the current Interest Rate7. Pre-payment Charges As per Annexure A to Schedule I of the Principal Loan Agreement8. Security (a) Extension of first charge by way of mortgage over the Properties

mentioned in Schedule I of the Principal Loan Agreement in favour of the Lender.


9. Top-up Loan Tenor ________ Months 10. Interest Rate Applicable Interest Rate Floating Rate of Interest/

Fixed rate of Interest for __ Months

Floating rate of Interest Spread + BHFL FRRSpread ______%Current BHFL FRR ______%Fixed Rate of Interest ______% p.a./Monthly

Reducing11. EMI Amount12. Repayment Date for EMI


Part B


(Applicable Under Section B of the Top-up Loan Addendum)3


Principal Loan Agreement2. Amount of Flexi Loan3. Flexi Loan Interest Rate Applicable Interest Rate Floating Rate of Interest/Fixed rate of





7. EMI Amount


Account Number

_________________________



Part C


(Applicable Under Section C of the Top-up Loan Addendum)













Account Number

_________________________



IN WITNESS WHEREOF the parties have executed this Top-up Loan Addendum on the day and the year as mentioned in the Annexure I,


OR


OR


OR


OR


OR


AND




Rs.______________/- [•] (Rupees_____________________________only)

On demand, I/we [Please insert the name and description of the Borrower] (the ‘Borrower’), jointly and severally promise to pay Bajaj Housing Finance Limited or its order, having its branch/office at____________________ (‘BHFL’ including its successors and assigns), a sum of Rs.____________/- [•] (Rupees ______________________ only) for value received under the loan against property agreement dated______________, together with interest at the rate of________% per annum with__________________________rests, or such other rates which BHFL may specify from time to time.

Presentment for payment and noting and protest of this note are hereby unconditionally and irrevocably waived.

If a company, pursuant to the Resolution of its Board of Directors passed in their meeting held on_____, the Common Seal

of_________________________________________


OR


OR


OR


OR


OR


Place:

Date:


SCHEDULE IV

TOP-UP LOAN ADDENDUM TO THE LOAN AGREEMENT

This Addendum to the Loan Agreement (the ‘Top-up Loan Addendum’) is made at the place and on the date as set out in Annexure I.

BETWEEN

BAJAJ HOUSING FINANCE LIMITED, a company incorporated under the provisions of the Companies Act, 1956, and a ‘Company’ as envisaged under the Companies Act, 2013, and having its registered office at Mumbai-Pune Road, Akurdi, Pune – 411035, Maharashtra and corporate office at S. No. 208/1-B 5th Floor, Viman Nagar, Pune – 411014, Maharashtra (‘BHFL’ or the ‘Lender’, which expression shall, unless repugnant to the context, include its successors and assigns) of the First Part.

AND

The Borrower, material particulars whereof are described and set out in Schedule I of the Principal Loan Agreement, of the OTHER PART.

Lender and Borrower are hereinafter collectively referred to as ‘Parties’ and individually as ‘Party’.

WHEREAS:

(C) Pursuant to the Loan Agreement dated _______________ (the ‘Principal Loan Agreement’) entered into between the Borrower and the Lender, the Lender had granted the Loan to the Borrower for the amount mentioned in Annexure I, on the terms and conditions set out in the Principal Loan Agreement and the other Loan Documents.

(D) The Parties are now desirous of entering into this Top-up Loan Addendum in relation to the Top-up Loan proposed to be granted by the Lender to the Borrower pursuant to the request of the Borrower.

NOW, THEREFORE, in consideration of the foregoing and other good and valid consideration, the receipt and adequacy of which is expressly acknowledged, the Parties, intending to be legally bound, agree as follows:


1.1 Definitions

Any capitalised terms used but not defined in this Top-up Loan Addendum, shall have the meaning given to it in the Principal Loan Agreement in which they have been defined. Unless the context otherwise requires, the following terms wherever used in this Top-up Loan Addendum (including the recitals), shall have the following meaning, and the definitions of Interest Rate, Loan Tenor and Repayment Date of the Principal Loan Agreement stands deleted and replaced with the definitions of Interest Rate, Loan Tenor and Repayment Date respectively mentioned below:

‘Flexi Loan’ is to be understood in accordance with its definition stated in Section ‘B’ hereunder.

‘Hybrid Flexi Loan’ is to be understood in accordance with its definition stated in Section ‘C’ hereunder.

‘Interest Rate’ means the rate of Interest in relation to the Top-up Loan as mentioned in the Annexure I to this Top-up Loan Addendum, and as amended from time to time for the Top-up Loan.

‘Loan Tenor’ shall mean the tenor of the Top-up Loan as specified in Annexure I of this Top-up Loan Addendum.

‘Repayment Date’ in relation to the Top-up Loan, means the date, on or before which each EMI is to be repaid by the Borrower, as more specifically mentioned in Annexure I to this Top-up Loan Addendum.

‘Security’ means the extension of mortgage, hypothecation, encumbrance, lien (statutory or other), preference, priority or other security agreement of any kind or nature whatsoever over the Property as detailed in Schedule I to the Principal Loan Agreement, which was created for securing the Loan Against Property availed under the Principal Loan Agreement, to cover the amount of the Top-up Loan provided under this Top-up Loan Addendum as detailed in Annexure I.

‘Top-up Loan’ means the additional loan as requested by the Borrower by submitting the Application Form and as may be granted by the Lender to the Borrower, at the sole discretion of the Lender, and shall be subject to the fulfilment of specified condition of execution of the Top-up Loan Addendum by the Borrower, details of which are provided in Annexure I.


1.2 Principles of construction

To the extent not expressly excluded, the provisions of the Principal Loan Agreement shall apply to this Top-up Loan Addendum, mutatis mutandis. This Top-up Loan Addendum shall be construed harmoniously with the provisions of the Principal Loan Agreement.

2. SPECIFIC CONDITIONS

2.1. Pursuant to the disbursement of the Top-up Loan by the Lender to the Borrower, the Top-up Loan shall be governed by the terms and conditions of the Loan Documents and this Top-up Loan Addendum.

2.2. In addition, the Borrower further acknowledges, agrees and confirms that in case the Borrower avails of any amount under the Top-up Loan, the rate of Interest and the tenor in respect of the Loan may vary and the Interest Rate/Loan Tenor shall be as intimated by the Lender in the form as mentioned in Annexure I.

2.3. The Security created over the Property to secure the Loan Against Property under the Principal Loan Agreement shall be extended as Security for the Top-up Loan being availed under this Agreement and the Borrower shall execute all documents and complete all processes required to complete the extension of Security to the amount being availed under the Top-up Loan.

2.4. All the Covenants, Undertakings, Representations and Warranties made by the Borrower in the Principal Loan Agreement continue to be applicable and the Borrower will be bound by the same for this Top-up Loan.

2.5. In case of any Default in either the terms of the Principal Loan Agreement or this Top-up Loan Addendum, it will be treated as an Event of Default for both the Loan Against Property and the Top-up Loan and the Lender has all the rights as detailed in the Principal Loan Agreement.

2.6. The other terms and conditions for the Top-up Loan have been prescribed in Annexure I.

3. AMENDMENT TO THE PRINCIPAL LOAN AGREEMENT

3.1 The following shall be added under the Clause 2 (Loan):

At the request of the Borrower, the Lender may at its sole discretion and option agree to grant Top-up Loan for the Loan Tenor as the Lender may deem fit at its sole discretion and also subject to the Lender’s discretion in revising any of the terms and conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower. The Borrower shall be liable to pay the applicable stamp duty on this Top-up Loan Addendum in compliance of the applicable Indian laws with respect to the Top-up Loan.

3.2 The following shall be added under the Clause 6 (Borrower’s Covenants and Undertakings):

The Borrower undertakes to deliver to the Lender fresh PDCs equivalent to the amount availed under the Top-up Loan.

The Security created shall also be Security for (i) the Outstanding Dues, and all other monies that may be due and payable by the Borrower to the Lender, on any account whatsoever, whether present or future, including any liability of the Borrower as a Co-Borrower or Guarantor either singly or jointly. (ii) in the event of Borrower is a company, the loan granted/continued to the group companies/associate companies of the Borrower as declared from time to time.

3.3 The following shall be added under the Clause 7 (Lender’s Rights):

The Lender may cancel the Top-up Loan at its sole discretion at any time without assigning any reason thereof.

3.4 The following shall be added under the Clause 8 (Borrower’s Representations and Warranties):

The Borrower acknowledges, understands and agrees that the loan account number of the Borrower (maintained with the Lender) may be varied and/or changed in the systems of the Lender pursuant to the roll-over/renewal of the Loan and there may be more than one loan account number(s) for the same. The Borrower further acknowledges, understands and agrees that at times the various loan account numbers of the Borrower in the system of the Lender may also be clubbed into one loan account number pursuant to roll over(s)/renewal(s) of the Loan from time to time.

The Borrower acknowledges, understands and agrees that the Lender shall not in any event or circumstance be liable or be construed as being liable in case there is any delay(s) in disbursement of Top-up Loan on account of any technical or system errors, etc., or any other event beyond the control of the Lender.

4. The changes made to the Principal Loan Agreement shall be effective from the date of this Top-up Loan Addendum.


5. This Top-up Loan Addendum is supplemental to the Principal Loan Agreement.

6. All other terms of the Principal Loan Agreement continue in full force without any amendment or waiver.

7. The Borrower acknowledges to have read and understood all the 3 pages containing terms of this Top-up Addendum and is affixing his/her/its’ signature/common seal on the last page of the Top-up Addendum evidencing the same. The Borrower further agrees and confirms that the Parties shall not be required to sign at each page of this Top-up Addendum and the signatures at the last page of this Agreement would be sufficient for the purposes of this Top-up Addendum.




SECTION B

TERMS AND CONDITIONS APPLICABLE IN RELATION TO ‘FLEXI LOAN’


For the purposes of this section, in addition to the definitions set out under Section A (General Terms and Conditions) in the Principal Loan Agreement, following words and expressions shall have the meanings as set-out in this Clause 1:

‘EPR Repayment’ shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement.

‘Flexi Loan’ shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part B of Annexure I to this Top-up Loan Addendum.

‘Flexi Loan Repayment Date’ shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement., as more specifically mentioned in Part B of Annexure I to this Top-up Loan Addendum.

‘Flexi Loan Tenor’ shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement., as more specifically mentioned in Part B of Annexure I to this Top-up Loan Addendum.

‘WDV Repayment’ shall have the meaning ascribed to it Part ‘B’ of the Terms and Conditions of the Principal Loan Agreement.

2. LOAN

2.1 The Borrower may request the Lender and the Lender may at its sole discretion agree to make available to the Borrower, the Flexi Loan on the Top-up Loan and the Flexi Loan shall be subject to the terms and conditions set out under Part B of Annexure I to this Top-up Loan Agreement and the terms of the Loan Documents.

2.2 At the request of the Borrower, the Lender may at its sole discretion and option agree to grant a Flexi Loan whether it is for the same principal amount or any lesser amount, and for such further periods as the Lender may deem fit at its sole discretion and also subject to the Lender’s discretion in revising any of the terms and conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower.

2.3 The Flexi Loan may be availed by the Borrower with a repayment schedule determined as per the EPR Repayment Method or the WDV Repayment Method as may be specified in Part B of Schedule I.

2.4 The Lender shall, in relation to the Loan have the right to withdraw/block/freeze/recall/terminate/convert to term loan the Flexi Loan at its sole discretion at any time without assigning any reason thereof.

3. COVENANTS

The Borrower hereby irrevocably and unconditionally covenants with the Lender that, during the pendency of the Loan, the Borrower shall deliver to the Lender fresh PDCs or Payment Instrument for an amount equivalent to the amount availed under the Flexi Loan.

Upon availing the Flexi Loan, in addition to the General terms stipulated under Section A and B above, the terms set out under Part B of Schedule I shall become applicable with respect to the Flexi Loan.




SECTION C

TERMS AND CONDITIONS APPLICABLE IN RELATION TO ‘HYBRID FLEXI LOAN’


For the purposes of this section, in addition to the definitions set out under Section A (General Terms and Conditions), following words and expressions shall have the meanings as set-out in this Clause 1:

‘Dropline Loan Tenor’ shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part C of Annexure I to this Top-up Loan Addendum.

‘EPR Repayment’ shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement.

‘Flexi Saver Pure Repayment’ shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement.

‘Flexi Saver Pure Repayment Tenor’ shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part C of Annexure I to this Top-up Loan Addendum.

‘Hybrid Flexi Loan’ shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part C of Annexure I to this Top-up Loan Addendum.

‘Hybrid Flexi Loan Repayment Date’ shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement and shall be subject to the terms and conditions set out under Part C of Annexure I to this Top-up Loan Addendum.

‘WDV Repayment’ shall have the meaning ascribed to it Part ‘C’ of the Terms and Conditions of the Principal Loan Agreement.

2. LOAN

2.1 The Borrower may request the Lender and the Lender may at its sole discretion agree to make available to the Borrower, the Hybrid Flexi Loan, which shall be subject to the terms set out under Part C of Annexure I to this Top-up Loan Addendum and the terms and conditions of the Loan Documents.

2.2 At the request of the Borrower, the Lender may at its sole discretion and option agree to grant a Hybrid Flexi Loan whether it is for the same principal amount or any lesser amount, and for such further periods as the Lender may deem fit at its sole discretion and also subject to the Lender’s discretion in revising any of the terms and conditions for the Loan including, specifying additional conditions, which shall all be binding on the Borrower.

2.3 The Hybrid Flexi Loan shall be availed by the Borrower with a repayment schedule determined as per the Flexi Saver Pure Repayment method with respect to the Flexi Saver Pure Repayment Tenor and as per the EPR Repayment Method or the WDV Repayment Method as may be specified in Part C of Annexure I to this Top-up Loan Addendum with respect to the Dropline Loan Tenor.

2.4 The Lender shall, in relation to the Loan have the right to withdraw/block/freeze/recall/terminate/convert to term loan the Hybrid Flexi Loan at its sole discretion at any time without assigning any reason thereof.

3. COVENANTS

The Borrower hereby irrevocably and unconditionally covenants with the Lender that, during the pendency of the Loan, the Borrower shall deliver to the Lender fresh Payment Instrument for an amount equivalent to the amount availed under the Hybrid Flexi Loan.

Upon availing the Hybrid Flexi Loan, in addition to the General terms stipulated under Section A and C above, the terms set out under Part C of Schedule I, shall become applicable with respect to the Hybrid Flexi Loan.




ANNEXURE I

PART A

TERMS AND CONDITIONS FOR Top-up LOAN

Sl. No Particulars Details1. Date and Place of the

execution of Top-up Loan Addendum

PlaceDate, Month and Year

2. Amount of Loan under Principal Loan Agreement

3. Top-up Loan Amount4. Processing Fees ____% of the Top-up Loan amount.5. Repayment Mode6. Penal Interest 2 % per month in addition to the current Interest Rate7. Pre-payment Charges As per Annexure A to Schedule I of the Principal Loan Agreement8. Security (a) Extension of first charge by way of mortgage over the Properties

mentioned in Schedule I of the Principal Loan Agreement in favour of the Lender.


9. Top-up Loan Tenor ________ Months 10. Interest Rate Applicable Interest Rate Floating Rate of Interest/

Fixed rate of Interest for __ Months

Floating rate of Interest Spread + BHFL FRRSpread ______%Current BHFL FRR ______%Fixed Rate of Interest ______% p.a./Monthly

Reducing11. EMI Amount12. Repayment Date for EMI


Part B


(Applicable Under Section B of the Top-up Loan Addendum)5


Principal Loan Agreement2. Amount of Flexi Loan3. Flexi Loan Interest Rate Applicable Interest Rate Floating Rate of Interest/Fixed rate of





7. EMI Amount


Account Number

_________________________



Part C


(Applicable Under Section C of the Top-up Loan Addendum)













Account Number

_________________________



IN WITNESS WHEREOF the parties have executed this Top-up Loan Addendum on the day and the year as mentioned in the Annexure I,


OR


OR


OR


OR


OR


AND




Rs.______________/- [•] (Rupees_____________________________only)

On demand, I/we [Please insert the name and description of the Borrower] (the ‘Borrower’), jointly and severally promise to pay Bajaj Housing Finance Limited or its order, having its branch/office at____________________ (‘BHFL’ including its successors and assigns), a sum of Rs.____________/- [•] (Rupees ______________________ only) for value received under the loan against property agreement dated______________, together with interest at the rate of________% per annum with__________________________rests, or such other rates which BHFL may specify from time to time.

Presentment for payment and noting and protest of this note are hereby unconditionally and irrevocably waived.

If a company, pursuant to the Resolution of its Board of Directors passed in their meeting held on_____, the Common Seal

of_________________________________________


OR


OR


OR


OR


OR


Place:

Date: