(ii)In case of the loan or advance for the purpose of acquisition of the land for construction of house thereon, as laid down in Regulation 13(i) the employee shall get the conveyance of the land completed as early as possible and shall file within a month of conveyance a certified copy of the sale deed of conveyance and shall undertake to produce the original deed of conveyance as soon as the same is received from the office of the Sub-Registrar. He shall also within a fortnight of the date of the conveyance either execute in favour of the Council a mortgage deed or create an equitable mortgage by deposit of title deed the land and the building to be constructed thereon as security for repayment of the loan or advance with interest.
