INDEMNITY BOND REPAYMENT OF HAND LOAN WITHOUT INTEREST IN FRIENDLY RELATIONS
This Indemnity
Bond is made and executed on this
the ____ day of __________ at ___________
by and between:
____________S/o
W/o D/o_____________ Aged about ____ years, Occupation ________ R/o. H.No.
___________________________
(Hereinafter called the ‘FIRST PARTY/EXECUTANT’ and the this term shall mean and include all his/her heirs, legal representatives, administrators, successors-in-interests & assignees etc., of the ONE PART)
IN FAVOUR OF
____________S/o
W/o D/o_____________ Aged about ____ years, Occupation _________ R/o. H.No.
__________________________
(Hereinafter
called the ‘SECOND PARTY’ and the
this term shall mean and include all his/her heirs, legal representatives,
administrators, successors-in-interests and assignees etc., of the OTHER PART)
WHEREAS, the First Party/Executant herein
have requested the Second Party to lend his/her the Hand Loan Amount Without
Interest In Friendly Relation a sum of Rs._______/- (Rupees _________________ Only)
for his/her personal use and necessities.
AND WHEREAS, the Second Party have agreed
to lend the Hand Loan Without Interest a sum of Rs. ______/- (Rupees _______________
Only) to the First Party herein.
AND WHEREAS, after securing the legal
advice, both the parties have arrived on the following terms and conditions.
NOW THEREFORE THIS INDEMNITY BOND
WITNESSETH AS FOLLOWS:
That the parties do know each other being
the Friends since a long time.
That due to the above reason, the Second
Party have agreed to lend the Hand Loan Amount of Rs.______/- (Rupees ________________
Only) to the First Party herein in friendly relations without interest.
That, the First party do hereby undertake
to repay the entire said sum to the Second Party for a period of _____________ from the date of signing this
Agreement/Indemnity Bond.
During the continuation of period of the
First Party shall pay a sum of Rs. _______/- (Rupees _______________ Only) per
month to the Second Party herein on or before ____ day of every English
Calendar month without fail.
That, failure by the First Party means,
institution of proceedings as per law for the recovery of the said sum from the
First Party herein without costs.
That, in case if the First Party fails to
repay the said hand loan amount within the stipulated period, then the Second
Party is at liberty to take an legal action against the First Party herein as
per law with costs and both the persons, MOVABLE AND IMMOVABLE PROPERTIES which
belongs to the First Party herein.
That, time is the essence of the
Contract/THESE PRESENTS. That, the said hand loan amount shall not carry any
kind of interest whatsoever.
THESE PRESENTS are part and parcel of
Promissory Note Dated
________ executed by the First Party herein in favour of the Second Party for a
sum of Rs. ________/- (Rupees _________________ Only) respectively.
IN WITNESSES WHEREOF, these a few words
have been reduced to writing in the capacity of the INDEMNITY BOND in the
presence of the following witnesses, noted in the margin, so that it be served
whenever and wherever necessitated.
WITNESSES
:-
1.
2. SECOND
PARTY
WHEREAS, the First Party/Executant herein
have requested the Second Party to lend his/her the Hand Loan Amount Without
Interest In Friendly Relation a sum of Rs._______/- (Rupees _________________ Only)
for his/her personal use and necessities.
AND WHEREAS, the Second Party have agreed
to lend the Hand Loan Without Interest a sum of Rs. ______/- (Rupees _______________
Only) to the First Party herein.
AND WHEREAS, after securing the legal
advice, both the parties have arrived on the following terms and conditions.
NOW THEREFORE THIS INDEMNITY BOND
WITNESSETH AS FOLLOWS:
That the parties do know each other being
the Friends since a long time.
That due to the above reason, the Second
Party have agreed to lend the Hand Loan Amount of Rs.______/- (Rupees ________________
Only) to the First Party herein in friendly relations without interest.
That, the First party do hereby undertake
to repay the entire said sum to the Second Party for a period of _____________ from the date of signing this
Agreement/Indemnity Bond.
During the continuation of period of the
First Party shall pay a sum of Rs. _______/- (Rupees _______________ Only) per
month to the Second Party herein on or before ____ day of every English
Calendar month without fail.
That, failure by the First Party means,
institution of proceedings as per law for the recovery of the said sum from the
First Party herein without costs.
That, in case if the First Party fails to
repay the said hand loan amount within the stipulated period, then the Second
Party is at liberty to take an legal action against the First Party herein as
per law with costs and both the persons, MOVABLE AND IMMOVABLE PROPERTIES which
belongs to the First Party herein.
That, time is the essence of the
Contract/THESE PRESENTS. That, the said hand loan amount shall not carry any
kind of interest whatsoever.
THESE PRESENTS are part and parcel of
Promissory Note Dated
________ executed by the First Party herein in favour of the Second Party for a
sum of Rs. ________/- (Rupees _________________ Only) respectively.
IN WITNESSES WHEREOF, these a few words
have been reduced to writing in the capacity of the INDEMNITY BOND in the
presence of the following witnesses, noted in the margin, so that it be served
whenever and wherever necessitated.
WITNESSES
:-
1.
2. SECOND
PARTY
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