LOAN
AGREEMENT BETWEEN___________________________AND
___________________________THIS
AGREEMENT made and entered into at _______ this ____ day of_______, ______
BETWEEN __________________ hereinafter called "the Lender" AND ________________________
hereinafter called "the Borrower" and reference to the parties hereto
shall mean and include their respective heirs, executors, administrators and
assigns;WHEREAS
the Borrower is in need of funds and hence has approached the Lender to grant
her an interest-free loan of Rs.________/- (Rupees ____________________ only)
for a period of ____ years;AND
WHEREAS the Lender has agreed to grant a loan to the Borrower, free of
interest, as the Lender and the Borrower have known each other since several
years;AND
WHEREAS the parties hereto are desirous of recording the terms and conditions
of this loan in writing;NOW
THIS AGREEMENT WITNESSETH and it is hereby agreed by and between the parties
hereto as under:-1. The Borrower hereto,
being in need of money, has requested the Lender to give her an interest-free
loan of Rs.___________/- (Rupees _________________________ only) to enable her
to purchase a residential flat, to which the Lender has agreed.2. The said loan is
required by the Borrower for a period of ____ years, commencing from __/__/1999
and terminating on __/__/_____.3. The Borrower hereby
agrees and undertakes to return the loan of Rs.___________/- (Rupees
______________________ only), in installments, within the aforesaid period of
____ years and gives her personal guarantee for the same.4. The terms and
conditions of this Agreement are arrived at by the mutual consent of the
parties hereto.IN
WITNESS WHEREOF the parties hereto have hereunto set and subscribed their
respective hands the day and year first hereinabove written.SIGNED
AND DELIVERED by the within-Named
Lender in the presence ofSIGNED
AND DELIVERED by the within-Named
Borrower in the presence of