Receipt & Reassingment [1]

Receipt & Reassingment [1]

150 150 Administrator

Dated this                       day of                                                                               20  

 

BETWEEN

[Name Of Bank]
[Company Number]

 

AND

KWAN KENG LUM

 

*******************************************

RECEIPT AND REASSIGNMENT

 

*******************************************

 

[Name of Company]

 


[Address]

 


[Legal Firm Ref No.]

 

            THIS RECEIPT AND REASSIGNMENT made the                   day of                                        

 

1999 BETWEEN [Name of Compnay] (Company No.       ) a company incorporated in Malaysia under the Companies Act, 1965 and having its registered office at [Address] and its place of business at [Address] (hereinafter called “the Lender”) of the one part And [Name] [Identity Number] of No. [Address] (hereinafter called “the Borrower”) of the other part.

 

            WHEREAS

 

1.                  By a Loan Agreement Cum Assignment dated [Insert Date] (hereinafter referred to as “the security document”) entered into between the Lender and the Borrower, the Borrower assigned all his rights title and interest to all that parcel of residential space and other related accommodation known as Parcel No. 05, Storey No. 06 of Building No. IC, measuring 58.62 square meters erected or to be erected on part of all that piece of land known as Lot No.  in (hereinafter called “the said Property”) to the Lender in consideration of a loan of Ringgit Malaysia  (hereinafter called “the Loan”) granted by the Lender to the Borrower.

 

2.                  The Borrower has on or before the date hereof fully repaid to the Lender the Loan together with interest thereon at the prescribed rate and all whatsoever monies due and payable under the security document.

 

NOW THIS AGREEMENT WITNESSETH as follows:-

 

1.                  In consideration of the Borrower having repaid all monies owing to the Lender on the security or under or pursuant to the security document and in consideration of the premises herein the parties hereto hereby agree and confirm that the security document is hereby terminated and shall be of no further effect and in particular but without prejudice to the generality of the foregoing it is hereby agreed as follows:-

(i)                  the Lender releases and discharges the Borrower from all agreements covenants conditions and stipulations anything whatsoever on the part of the Borrower therein the security document expressed and contained; and

 

(ii)                the Lender hereby releases the said Property from any caveat assignment and any whatsoever security therein the security document expressed and contained.

 

2.                  For the consideration aforesaid the Lender hereby reassigns to the Borrower the said Property together with all the rights title and interest therein and in the Sale and Purchase Agreement dated the 26thday of May 1992 previously assigned to the Lender by virtue of the security document to hold the same unto the Borrower freed and discharged from all and any claims of the Lender.

3.                  The Borrower hereby revokes the Power of Attorney and every power and authority therein the security document registered under PA No. 1216/93 on the 12th day of March 1993 at Penang High Court conferred and the Lender for the consideration aforesaid agrees and concurs with such revocation PROVIDED THAT nothing herein contained shall affect the validity of any act or thing done by the attorney of the Lender by virtue of the powers conferred on him by the security document before the revocation herein contained.

 

4.                  This Agreement shall be binding upon the heirs executors and assigns of the Borrower and the successors in title of the Lender.

 

 

5.                  In this Agreement unless there is something in the subject or context inconsistent with such construction or unless it is otherwise expressly provided:-

 

(i)                  words importing the masculine gender include the feminine and neuter genders and vice versa;

 

(ii)                words in singular include the plural and words in the plural include the singular;

(iii)               where there are two or more persons included in the expression “the Borrower” agreements, covenants, stipulations and undertakings expressed to be made by and on the part of the Borrower shall be deemed to be made by or binding upon such persons jointly and severally.

 

            IN WITNESS WHEREOF the Attorney of the Lender and the Borrower have set their hands the day and year first above written.

 

Signed for and on behalf of              )           [Company Name]

 

EON FINANCE BERHAD                 )              (Company No.      )

 

(Company No. 9692-K) by its             )                     By Its Attorney

Attorney in the presence of:-                 )

 

                                                                                 ………………………………

 

Signed by the Borrower in the   )

 

presence of:-                                        )

 

                                                                                                                                                                ………………………………..

 

                                                                                                                                                                 [ Name]

            I, SAW HOOI LEE, an Advocate & Solicitor of the High Court of Malaya practising in Penang hereby certify that the signature(s)/thumb print(s) of the borrower abovenamed was/were written/affixed in my presence on this              day of                        

 

1999 and is/are according to my own personal knowledge/according to information given to me by trustworthy and respectable persons namely which information I verily believe the true signature(s)/thumb print(s) of the said [Name] [Identity Number] who has/have acknowledge to me that he/she/they is/are of full age and thathe/she/they has/have voluntarily executed this instrument.

 

                                                                                   Witness my hand,

                                                                                        …………………………………….

ACKNOWLEDGEMENT

            We, [Company Name],  a company incorporated in Malaysia and having our place of business at No. [Address] do hereby acknowledge that the foregoing Receipt And Reassignment was intimated to us by the delivery of true copy thereof and the same has been duly noted in our records.

                        Dated this               day of                                            20  .

 

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