Security Bond To Be Given During The Pendency Of Appeal Where In Property Is Mortgated Legal Draft Template
| Category | Agreements Bonds |
| Format | |
| File name | Security Bond to be given during the Pendency of Appeal Where in Property is Mortgated |
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To,This
Security Bond on Stay of Execution of Decree by.Witnesseth:That
., the plaintiff in suit no..of, 2000, having suedthe defendant in
this court, and a decree having been passed on theday of .., 2000, in
favour of the plaintiff, and the defendant having preferred an appeal from the
said decree in thecourt, the said appeal is still pending.Now
the plaintiff-decree holder has applied to execute the decree and the defendant
has made an application praying for stay of execution of the said decree and
has been called upon to furnish security. Accordingly, i, ( of my own free
will). Stand security to the extent of Rs.mortgaging the properties
specified in the schedule hereunto annexed and covenant that if the decree of
the first court be reversed or varied by the appellate court, the plaintiff
shall restore any property which may be or has been taken in execution of the
said decree and shall duly act in accordance with the decree of the appellate
court and shall pay whatever may be payable by him there under, and if he
should fail therein then any amount so payable shall be realised from the
properties hereby mortgaged, and if the proceeds of the sale of the said
properties are insufficient to pay the amount due, i and my legal
representatives will be personally liable to pay the balance. To this effect i
execute this security bond this day of .., 2000.Schedule(signed)s/o.of..Witnesses
by1.s/o.of..2.s/o.of.