The Loan Agreement Secured By Property is a fundamental document in secured lending transactions within the Indian jurisdiction. It is primarily used when a lender provides financing against the security of immovable property, whether for personal, commercial, or industrial purposes. The agreement serves dual purposes: documenting the loan facility terms and creating a security interest over the property. It must comply with multiple Indian legislations including the Transfer of Property Act, 1882, Registration Act, 1908, and if applicable, the SARFAESI Act, 2002. The document includes crucial details about the loan amount, interest rates, repayment schedule, property description, security creation, borrower's obligations, and lender's enforcement rights. It requires mandatory registration with relevant property registrars and appropriate stamp duty payment as per state laws.

1. Parties: Identifies the lender and borrower with their full legal names, addresses, and registration details

2. Background: Describes the context of the loan, purpose, and brief description of the security property

3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets rules for interpretation

4. Loan Facility: Details of the loan amount, interest rate, term, and disbursement conditions

5. Security Creation: Provisions creating the security interest over the property

6. Repayment Terms: Schedule of repayment, payment methods, and prepayment provisions

7. Interest and Costs: Detailed provisions on interest calculation, default interest, and other charges

8. Representations and Warranties: Statements of fact by the borrower about their status and the security property

9. Borrower's Covenants: Positive and negative obligations of the borrower during the loan term

10. Events of Default: Lists circumstances constituting default and consequences

11. Enforcement Rights: Lender's rights and remedies upon default

12. Property Maintenance and Insurance: Requirements for maintaining and insuring the security property

13. Assignment and Transfer: Provisions regarding transfer of rights under the agreement

14. Notices: Communication procedures between parties

15. Governing Law and Jurisdiction: Specifies applicable law and courts having jurisdiction

16. Miscellaneous: Standard boilerplate provisions including severability, amendments, entire agreement