Indemnity Bond Deeds Bonds 1532 - Legal Draft
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INDEMNITY BOND
This Indemnity Bond made at Nasik this
............day of
200
5
BETWEEN
Shri A B C , age 40 years, occupation - business, resident of 111 Shaniwar Peth, Nasik 411 030, hereinafter called the INDEMNIFIER, (which express shall, unless repugnant to the context, mean and include her heirs, executors, administrators and assigns) of the One Part
AND
Shri X Y Z age 45 years, occupation - business, resident of 111 Shaniwar Peth, Nasik 411 030, hereinafter called the INDEMNIFIED, (which express shall, unless repugnant to the context, mean and include her heirs, executors, administrators and assigns) of the Other Part.
WHEREAS the property bearing House No. 125 Budhwar Peth, Nasik 411002m is owned and possessed by the indemnifier;
AND WHEREAS the indemnifier has sold, transferred and conveyed
the said property unto the indemnified by a sale-deed, dated;
AND WHEREAS the said sale-deed executed by and between the parties hereto has also been registered with the office of the Joint Sub-Registrar, Haveli No. II, at Sr. No. 1760;
AND WHEREAS during the course of the said transaction and while its completion, the indemnifier represented unto the indemnified that the former had an absolute legal right and authority to sell, transfer and convey the said property;
AND WHEREAS the indemnified has required and called upon the indemnifier to indemnify the indemnified if the event of any loss or damage, if occurred, unto the indemnifier;
AND WHEREAS the indemnifier having received the full and final consideration of the purchase-price has agreed to execute the indemnity bond being these presents;
AND WHEREAS the parties hereto have decided to reduce into writing the terms and conditions, which they have worked out and agreed
NOW THIS DEED WITNESSES as follows:
1. That the indemnifier does hereby agree and undertake to indemnify the indemnified for any loss or damage caused in respect of the said property.
2. That on the basis of the assurance offered by the indemnifier by way of these presents that the indemnified has agreed to purchase and acquire the said property.
3. That the indemnifier has been executing this bond only as a part and by way of the promise given by him to indemnify the loss or damage, if caused, in respect of the said transaction or property.
IN WITNESS WHEREOF the parties hereto have signed hereunder at Nasik this..... day of 2005
Sd/- ABC INDEMNIFIER
Witnesses: Sd/- XYZ
INDEMNIFIED
Sd/-xXx
Sd/-xXx