Transact SQL :: Join Two Tables With Multiple Rows?

I have to join two tables and i need to fetch All records from @tab2 and only max date record from @tab1 that ID is present in Tab2

1.) @Tab1 have multiple records for each ID

2.) @Tab2 also have multiple records for each ID

3.) Kind of Lef Outer join those tables with ID and take all records from @tab2 and only Max of date from @tab1 and order by ID and Date

Note: @Tab1 always have lesser dates than @tab2 for each ID

Tables looks like as follows 

declare @tab1 table (id varchar(3), effDt Date, rate int)
insert into @tab1 values ('101','2013-12-01',5)
insert into @tab1 values ('101','2013-12-02',2)
insert into @tab1 values ('101','2013-12-03',52)

[code]....

In the given ex, ID 103 should not come as it is not present in @tab2, ID 104 should come even it is not present in @tab1 as we ahve to use left outer join Result should like follows.