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Subordinate Deed Of Trust
"I need a Subordinate Deed of Trust for a commercial property in Mumbai, where a second lender will provide additional financing of INR 5 crore, subordinate to an existing loan of INR 15 crore, with the transaction expected to close by March 2025."
1. Parties: Identification of all parties including the Trustor, Trustee, Primary Beneficiary, and Subordinate Beneficiary
2. Background: Context of the trust creation, existing obligations, and reason for subordination
3. Definitions: Definitions of key terms used throughout the deed
4. Trust Property: Detailed description of the property being held in trust
5. Declaration of Trust: Formal declaration creating the trust and specifying its purpose
6. Subordination Terms: Specific terms of subordination, including priority of interests and rights
7. Powers and Duties of Trustee: Comprehensive list of trustee's authorities and responsibilities
8. Rights of Beneficiaries: Detailed description of beneficiary rights and their order of priority
9. Security and Enforcement: Provisions for enforcement of rights and remedies in case of default
10. Term and Termination: Duration of the trust and conditions for termination
11. Governing Law and Jurisdiction: Specification of applicable laws and courts having jurisdiction
12. Execution and Attestation: Formal execution requirements and witness details
1. Insurance Requirements: Specific insurance requirements for the trust property, included when property requires particular insurance coverage
2. Environmental Provisions: Environmental compliance requirements, included for properties with potential environmental impacts
3. Co-Trustee Provisions: Provisions governing multiple trustees, included when more than one trustee is appointed
4. Foreign Beneficiary Clauses: Special provisions for foreign beneficiaries, included when beneficiaries are non-resident Indians
5. Agricultural Land Provisions: Special provisions for agricultural land, included when trust property includes agricultural land
6. Religious or Charitable Purpose Clauses: Special provisions for religious or charitable trusts, included when trust has charitable purposes
1. Schedule A - Property Description: Detailed legal description of the trust property including boundaries and measurements
2. Schedule B - Primary Security Documents: Details of the primary security documents to which this trust deed is subordinate
3. Schedule C - Existing Encumbrances: List of all existing encumbrances, liens, or charges on the trust property
4. Schedule D - Payment Terms: Detailed payment schedules and terms if applicable
5. Appendix 1 - Property Documents: Copies of property titles, tax receipts, and other relevant property documents
6. Appendix 2 - Consent Documents: Copies of necessary consents and approvals from relevant authorities
7. Appendix 3 - Prior Agreements: Copies of relevant prior agreements affecting the trust property
Authors
Banking and Financial Services
Real Estate
Construction
Infrastructure Development
Commercial Property
Residential Property
Industrial Property
Agriculture
Healthcare
Hospitality
Education
Legal
Real Estate
Finance
Compliance
Risk Management
Property Management
Corporate Affairs
Documentation
Trust Administration
Mortgage Operations
Legal Counsel
Property Lawyer
Real Estate Manager
Finance Manager
Trust Administrator
Compliance Officer
Property Rights Officer
Real Estate Developer
Mortgage Officer
Banking Executive
Property Registration Officer
Title Officer
Risk Manager
Corporate Lawyer
Property Documentation Specialist
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