Lessor will have to be enrolled as Member / Nominal Member of the Bank with adequate share linking.
Where the Bank is occupant, Bank may waive the condition of mortgage of property. ( If the period of lease available is more than the period of loan).
Lease agreement should be registered.
Valuation of the property will have to be done wherever necessary.
Interest rate will change as per Bank's / RBI policy.
In deserving cases fixing installment on a graduated basis will be considered.
In the lease agreement there should not be a clause which allows a downward revision in the rentals during the period covered of the loan for any reason.
There should be a specific clause in the Agreement stating that Bank will not be responsible for any thing, other than recovery of lease rental, towards recovery of Bank loan.
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