Addendum to the Loan Agreement

Mortgage Loans- Home Loan / Loan Against Property

Name of the Borrower

Application Form Barcode Number

Disbursal Schedule (applicable for stage wise disbursal):

1) Disbursal schedule shall be drawn basis Borrower's disbursement (In stages or 100% upfront) request received at the
time of disbursement of loan.

2) If Borrower requests for stage wise disbursement of the loan, below mentioned clause shall be applicable:

Stage Wise Disbursal Clause:

In cases where the Borrower has availed a Loan from the Bank for an under-construction property /plot along with under-
construction property (‘Property’), the Bank shall disburse the Loan in a phase-wise manner as follows:

a) Where the Property is purchased from a builder/developer, disbursement of the Loan during the construction period shall
be done, inter alia, as per the construction plan agreed in the relevant sale agreement, including upon:

(i) signing of the tripartite agreement /quadripartite agreement with the builder/developer, and

(ii) submission of original/certified copy of allotment letter to the Borrower issue by the said builder/developer.

b) Where the Property has been purchased from a development authority/housing society, disbursement of the Loan during
the construction period shall be done basis the construction plan agreed in the relevant sale agreement, including upon
submission of original/certified copy of allotment cum demand letter issued by the said development authority/housing
society.

c) Where the Property is being self-constructed by the Borrower, disbursement of the Loan shall be basis the construction
completion timeline estimate provided by the architect appointed by the Borrower which has been validated by the Bank.

d) Where the Property has been purchased by the Borrower in a re-sale, disbursement of the Loan shall be done basis the
progress report of the construction prepared by the Bank, including upon:

(i) signing of the agreement for sale between the Borrower and the seller and

(ii) submission of original/certified copy of allotment/re-allotment letter by the seller/builder/developer.

e) Where there is a balance transfer of loan for a Property from another bank/financial institution, disbursement of the Loan
shall be basis the progress report of the construction prepared by the Bank including upon, submission of original/certified
copy of demand letter and allotment letter issued by the builder/developer.

Notwithstanding the aforementioned, if the construction of the Property does not progress as per the terms and conditions
stipulated in the relevant documents mentioned above, the Bank shall have the sole discretion to disburse the relevant Loan
amount basis the confirmation from the Bank regarding the completion of the relevant stages of construction of the Property.

Engagement of recovery agents:

To take possession/ control of such Property/ security, whether directly or through any receiver, recovery agent, manager
attorney, or other person as may be appointed by the Bank to exercise all or any of the powers and rights vested in the Bank
under the Loan Agreement and/or any other related transaction documents and/or as available to it in law, who shall be
deemed to be the agent of the Bank, including for or in relation to perfection, preservation, valuation, enforcement of Security
Interest, possession, sale, auction, private treaties of Security Interest, etc., It shall be lawful for the Bank or its agents to
enter into or take possession under the provisions contained in any of the documents entered in relation to the Security
Interests henceforth and to hold and enjoy the same and to receive the rents and profits thereof without any interruption or
disturbance by the Borrower and/ or the Security Providers or persons claiming by, though, under or in trust for the Borrower
and/ or the Security Providers.

Grievance Redressal Mechanism:

For any grievances in relation to the loan, the Borrower may raise any complaint/concerns through the [Axis Bank] or call
the Bank’s customer care [1860-419-5555 (Charges Applicable) / 1860-500-5555 (Charges Applicable) / 1800-103-5577
(Toll Free Number)]. The Bank shall endeavour to resolve the grievances and provide appropriate response with respect to
such complaint/concerns raised by the Borrower in a timely manner. For further details on the grievance redressal policy of
the Bank, the Borrower can access and read the grievance redressal policy of the Bank available at
[https://www.axisbank.com/docs/default-source/default-document-library/grievance-redressal/grievance-redressal-
policy.pdf]

Master Direction on Fraud

The Borrower covenants and agrees that, so long as the Loan Obligations are outstanding, and until the full and final payment
of all Loan Obligations to the satisfaction of the Bank, the Borrower shall co-operate with such auditors as may be appointed
by the Bank in case the Facilities or the loan account of the Borrower is red-flagged by the Bank and/or any other lenders.
The Borrower further covenants and agrees to provide the necessary information and/or documents as may be required by
such auditors, and bear all the expenditure in respect of the same and agrees to indemnify and keep the Bank indemnified
in this regard.

Penal Charges

Notwithstanding anything to the contrary contained herein, the parties agree as follows:

i. The Reserve Bank of India, vide Circular dated August 18, 2023 “Fair Lending Practice - Penal Charges in Loan
Accounts”, issued instructions (“RBI Instructions”) regarding quantum and levy of Penal Charges on loan accounts.
The RBI Instructions also stipulate that the penalty/ penal interest being charged for Loan Accounts is to be treated
as ‘Penal Charges’. The RBI Instructions have become effective from 1st April 2024 notified by the RBI

ii. The penalty/penal interest being charged for the Loan(s)/Facility(ies) under and pursuant to this financing document,
are treated as penal charges (“Penal Charges”)

iii. With reference to revised circular from Central Board of Indirect Taxes (CBIC) GST circular number '245/02/2025-
GST' dated 28.1.2025 wherein the government has clarified that GST is not applicable on penal charges levied by
RBI regulated entities, in compliance with RBI directions dated 18.08.2023, for non-compliance with material terms
and conditions of loan contract by borrower

This addendum is applicable for both Application Form and Loan Agreement.

1. Applicant’s Signature ___________________

2. Co-Applicant’s Signature ___________________

3. Co-Applicant’s Signature ___________________

4. Co-Applicant’s Signature ___________________

**End of Document **