Section 11 in Goa (Grant of advance to Member of the Legislative Assembly for purchase of new motor car) Rules, 2005
11. (a) Certified that the information given above is complete and true.
(b)Certified that I have purchased the motor car on account of which I apply for the advance and that I shall complete negotiations for the purchase of motor car and make final payment and take possession of the said motor car before the expiry of one month from the date of drawl of the advance and that I shall insure the motor car with the General Insurance Corporation of India or any Subsidiary Company thereto in accordance with the rules and that I shall; abide by the rules relating to the grant of advance to the Members of the Legislative Assembly for the purchase of new motor car.Form-IIThe Goa (Grant of advance to Members of the Legislative Assembly for purchase of new motor car) Rules, 2005[See rule 6 (2)]Form of Agreement executed before drawing an advance for the purchase of new motor carThis Agreement is made on this .............................day of ..................in the year two thousand and ............................ between (hereinafter called the "Borrower" which expression shall include his heirs, administrator, executors and legal representatives) of the One Part and the Governor of Goa (hereinafter called the "Government") of the Other Part.Whereas the Borrower has under the provisions of the Goa (Grant of Advance to Members of the Legislative for purchase of new motor car) Rules, 2005 (hereinafter referred to as the "said Rules" which expression shall include any amendments thereof) applied to the Sanctioning Authority for an advance of Rs. .................................for the purchase of new motor car.And whereas the Sanctioning Authority has agreed to lend the said amount to the Borrower on the terms and conditions hereinafter contained.Now, it is hereby agreed between the parties hereto that in consideration of the sum of Rs. ....................................to be paid by the Government. The Borrower hereby agrees with the Government.(1)To pay the Government the said amount with interest. And penal interest, if any, leviable calculated according to the said Rules, by monthly deductions from his salary, pension and allowances as provided in the said Rules and hereby authorises the Government to make the requisite deductions; and(2)to execute a document hypothecating the said motor car and also to furnish additional collateral security in the form of assignment of life insurance policy or title deeds of other properties in favour of the Government as security for the amount lent to the Borrower as aforesaid and interest and penal interest, if any, leviable in the form provided by the said Rules. And it is hereby lastly agreed and declared that if the motor car has not been hypothecated as aforesaid within one month from the date of the payment of the said sum or if the Borrower within that period becomes insolvent or ceases to be the Member or dies, the whole amount of the advance and interest and penal interest, if any, leviable, accrued thereon shall immediately become due and payable.In witness whereof the Borrower and ...............................................for and on behalf of the Governor of Goa have hereunto set their hands the day and year first before written.Signed by Shri...............................................................................(Borrower)Witnesses :
