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State of Bihar - Section
Section 9 in The Bihar Car Advance to the Speaker and Chairman Rules, 1953
9.
The Governor reserves the power of interpreting these Rules and of changing them from time to time at his discretion.[Appendix B] [Though the first Appendix should be 'A' but in the original it is Marked as 'B'.]Form of mortgage bond for motor car advance under the Motor Car Advance to the Speaker and Chairman Rules, 1953This indenture made this .......... day of .......... one thousand nine hundred and .......... between .......... (hereinafter called "the Borrower"), (which expression shall include his heirs, administrators, executors and legal representatives) of the one part and the Governor of Bihar (hereinafter called "the Governor" which expression shall include his successors and assignees) of the other. Whereas the Borrower has applied for and has been granted an advance of Rupees .......... to purchase a motor car on the terms of the Rules, in the Motor Car Advance Rules, 1953, for the Speaker, Bihar Legislative Assembly and the Chairman, Bihar Legislative Council (hereinafter referred to as "the said Rules" which expression shall include any amendment thereof or addition thereto for the time being in force); and whereas one of the conditions upon which the said advance has been/ was granted to the Borrower is/was that the Borrower will/would hypothecate the said Motor Car to the Governor as security for the amount lent to the Borrower and whereas the Borrower has purchased with or partly with the amount so advanced as aforesaid the Motor Car, particulars whereof are set-out in the Schedule hereunder written.Now this indenture witnesseth that in pursuance of the said agreement and for the consideration aforesaid the Borrower doth hereby covenant to pay to the Governor the sum of Rs. ................ aforesaid or the balance thereof remaining unpaid at the date of these presents by equal payments of Rs. ............... each on the first day of every month without any interest accruing on the sum for the time being remaining due and the Borrower doth agree that payments may be recovered by monthly deductions from his salary in the manner provided by the said Rules, and in further pursuance of the said agreement the Borrower doth hereby assign and transfer unto the Governor the Motor Car the particulars whereof are set-out in the Schedule hereunto written by way of security for the said advance without any interest accruing thereon as required by the said Rules.And the Borrower doth hereby agree and declare that he has paid in full the purchase price of the said Motor Car and that the same is this absolute property and that he has not pledged and so long as any money remain payable to the Governor in respect of the said advance, will not sell, pledge or part with the property in or possession of the said Motor Car: Provided always and it is hereby agreed and declared that if any of the said instalments shall not be paid or recovered in manner aforesaid within ten days after the same are due or if the Borrower shall die or at any time cease to be the Speaker/Chairman or if the Borrower sell or pledge or part with the property in or possession of the said Motor Car or make any composition or arrangement with his creditors or if any person shall take proceedings in execution of any decree or judgement against the Borrower the whole of the said sum which shall then be remaining due and unpaid shall forthwith become payable. And it is hereby agreed and declared that the Governor may on the happening of any of the events hereinbefore mentioned seize and take possession of the said Motor Car and either remain in possession thereof without removing the same or else may remove and sell the said Motor Car either by public auction or private contract and may out of the sale moneys retain the balance of the said advance then remaining unpaid without interest accruing thereon as aforesaid and all costs, charges, expenses and payments properly incurred or made in maintaining, defending or realising his rights hereunder and shall pay, over the surplus if any, to the Borrower, his executors, administrators or personal representatives: Provided further that the aforesaid power of taking possession or selling of the said Motor Car shall not prejudice the right of the Governor to sue the Borrower or his personal representatives for the said balance remaining due or in the case of the Motor Car being sold the amount by which the net sale-proceeds fall short of the amount owing and the Borrower hereby further agrees that so long as any moneys are remaining due and owing to the Governor, he, the Borrower, will insure and keep insured the said Motor Car against loss or damage by fire, theft or accident with an Insurance Company to be approved by the Accountant General, Bihar, and will produce evidence to the satisfaction of the Accountant General that the Motor Insurance Company with whom the said Motor Car is insured have received notice that the Governor is interested in the Policy and the Borrower hereby further agrees that he will not permit or suffer the said Motor Car to be destroyed or injured or to deteriorate in a greater degree than it would deteriorate by reasonable wear and tear thereof and further that in the event of any damage or accident happening to the said Motor Car the Borrower will forthwith have the same repaired and made good.The ScheduleDescription of Motor Car ..............Maker's Name ..........................Description ...........................No. of cylinders ......................Engine No. ............................Chassis No. ...........................Cost price ............................In witness whereof the said................(Borrower's name) and............. for and on behalf of the Governor have hereunto set their respective hands the day and year first above written.Signed by the said...............(Borrower's name and designation)in the presence of-| 1. ......................... | ......................... |
| 2. ......................... | ......................... |
| (Signature of witnesses) | (Signature and designation of the Borrower) |
| Signed by (name and designation) | |
| ......................... | ......................... |