Section 13 in The Goa, Daman and Diu Mundkars (Protection from Eviction) Rules, 1977
13. Terms on which a loan may be granted under section 18.
- A loan to be granted to a Mundkar under sub-section (1) of section 18, shall be on the following terms and conditions, namely:-(a)the amount of loan shall not exceed seventy-five percent of the purchase price of the dwelling house and the land on which such dwelling house stands;(b)the amount sanctioned as loan to the Mundkar shall be paid to the Bhatkar, in adjustment of the purchase price payable by the Mundkar, after obtaining due authorization from the Mundkar;(c)the Mundkar shall mortgage the dwelling house and the land purchased by him to the President of India till the entire loan amount and the interest payable thereon is fully paid to the Government;(d)the loan shall bear an interest of six percent per annum and shall be repaid in ten equal or nearby equal annual instalments before such date as may be fixed by the Collector; the first instalment shall be payable on the expiry of one year from the drawal of the loan;(e)if an instalment of loan amount and the interest due thereon is not paid within the prescribed period, the Mundkar shall be liable to pay an interest of nine per cent per annum at the time of such delayed payment;(f)the Mundkar shall not be entitled to transfer in any way his interest in the dwelling house till the loan amount and the interest due thereon is fully repaid;(g)if the Mundkar commits any default in payment of any instalment of the loan amount and the interest due thereon, the balance amount of the loan to be repaid shall become immediately recoverable and Government shall be entitled to sell the dwelling house in any manner deemed suitable by the Collector and the balance amount of the loan and the interest shall be recovered from the sale proceeds and the balance, if any, shall be handed over to the defaulting Mundkar.
