¶¶Òõ¶ÌÊÓƵ

The Future Advance Deed of Trust is a crucial financing instrument in the Indian legal framework, designed to provide security for both initial and subsequent loan disbursements against real property. This document type is particularly valuable when the lending arrangement involves multiple disbursements over time, such as in construction projects, business expansion plans, or revolving credit facilities. The deed creates a trust arrangement where the property is held as security, with provisions for securing additional future advances without executing new security documents. It must comply with various Indian legislations including the Transfer of Property Act, 1882, Indian Trusts Act, 1882, and Registration Act, 1908. The document typically includes detailed provisions for the trust arrangement, future advance mechanisms, property descriptions, and enforcement procedures.

1. Parties: Identifies and defines the Trustor (borrower), Trustee, and Beneficiary (lender)

2. Background: Sets forth the context of the agreement and the intention to create a security interest with provision for future advances

3. Definitions: Defines key terms used throughout the document including Future Advances, Secured Obligations, Trust Property

4. Creation of Trust: Establishes the trust arrangement and transfer of property to trustee

5. Future Advance Provisions: Details the terms and conditions under which future advances will be made and secured

6. Security Interest: Specifies the nature and extent of the security interest being created

7. Representations and Warranties: Trustor's declarations regarding property ownership, authority to create trust, and absence of encumbrances

8. Covenants: Ongoing obligations of the Trustor regarding property maintenance, insurance, taxes, and other duties

9. Events of Default: Defines circumstances constituting default under the deed

10. Remedies: Sets forth rights and remedies of the Beneficiary upon default

11. Power of Sale: Grants and defines trustee's power to sell property upon default

12. Governing Law and Jurisdiction: Specifies Indian law as governing law and determines jurisdiction for disputes