Examples of Mortgage Debt in a sentence
Provided also and it is hereby agreed and declared that if the Mortgagor shall fail to pay to the Mortgagee the Mortgage Debt or any part thereof in the manner provided herein on the Due Date, then and in that event the Mortgaged Properties hereby granted, conveyed, assured, transferred, assigned and charged or expressed so to be, shall not be redeemed or be redeemable by the Mortgagor or any other person or persons interested in the equity of redemption thereof at any time thereafter.
PROVIDED ALWAYS AND IT IS HEREBY AGREED AND DECLARED that notwithstanding anything to the contrary contained in Section 67 of the Transfer of Property Act, 1882; in the event of default being made in repayment of the Mortgage Debt or any part thereof, the Mortgagee shall have a right to obtain from the Court a Decree that the Mortgagor or any of them shall be absolutely debarred of their right to redeem the Mortgaged Properties and to file a suit for foreclosure.