THIS
BOND is executed on this...........day of...........at............... between:1. Mr. X s/o.......
r/o................., hereinafter called the debtor on the first part.2. Mr. Y s/o.....
r/o......................, hereinafter called the surety on the second part,
and3. Mr. Z
s/o......r/o..................., hereinafter called the creditor on the third
part.Whereas
a sum of Rs.........is still due to the creditor above named form the debtor on
account of decree in suit no............by the Court of..........on account of
arrears of rent.And
whereas the creditor has again settled the lease of the house in which the
debtor resides as tenant on account of the reason that the debtor has agreed to
make the payment of the decreed amount.And
whereas the creditor has agreed to accept the payments of decreed amount in installment
without any interest, provided some body stands as surety for the said amount.AND
WHEREAS the surety has agreed to guarantee payment of the saidDecreed
amount in accordance with the terms of this bond.NOW
THIS BOND WITNESSES AS UNDER:1. That the debtor and
the surety jointly and severally agree to pay the decreed amount in six equal
half yearly installments commencing from the day of...........and the day
of...........each year.2. That in case of
failure on the part of the debtors to pay any installment within 30 days from
the day it becomes due, the whole of he unpaid amount shall stand payable at
once with interest at the rate of 18% per annum and the debtor and the surety
jointly and severally agree to pay the said amount with interest.We
the have noted parties have signed this bond on the date and place mentioned
above, after fully understanding the contents of the bond in the presence of
the following witness.Witnesses:1.
Name& Signature..............AddressDebtor2.
Name & Signature..................SuretyAddress.............Name
& Signature................Creditor