Section 11 in The Orissa Intensive Cultivation Scheme Loans Rules, 1951
11.
(1)If a loan is sanctioned, an agreement in Form 'B' and when the applicants are a body of five or more persons an agreement in Form 'E' annexed hereto shall be executed by the applicant or applicants, as the case may be, and the order prefixed to the said agreement forms shall be signed by the officer granting the loan. In the case of a loan sanctioned to a body of persons a statement showing the sums actually to be given to each individual borrower shall be entered upon the order aforesaid and signed by each of them.(2)When the sureties, if any, whom the applicant is required to furnish, hypothecate immovable property, they shall execute a bond in Form 'D' appended hereto.(3)When immovable property is mortgaged as collateral security by the applicant or by his sureties, the agreement or the bond in the said Form 'D', as the case may be, shall be attested by at least two witnesses and registered in accordance with the provisions of the Indian Registration Act, 1908 (XVI of 1908).(4)When the required documents have been executed and in cases falling under Sub-rule (3) above when they have been registered a payment order in Form 'F' annexed hereto shall be handed over to the applicant. In the case of a loan to be disbursed by instalments, a similar payment order shall be given to the applicant as each instalment becomes due.(5)When immovable property is mortgaged a copy of the original agreement or of the security bond in Form 'D' annexed to these rules, as the case may be, shall be sent to the Registering Officer under Sub-section (3) of Section 89 of the Indian Registration Act, 1908 (XVI of 1908).
