Bond by Student and Sureties on Admission in College
BY THIS BOND we, J.K. etc. and L.M. etc., (hereinafter called ‘‘the Sureties’’) are bound jointly and severally to the trustees of the . . . . . . . . . College (hereinafter called ‘‘the Trustees’’) for the payment to the Trustees of the sum of Rs . . . . . . . . .
WHEREAS by a deed of agreement dated the . . . . . . . . . executed by the trustees and A.B. etc. (or X.Y. etc. acting as guardian of A.B. etc.) the Trustees have agreed to educate the said A.B. at the . . . . . . . . . College and to make him certain payments therein stipulated on the terms and conditions therein specified.
AND WHEREAS for the purpose of securing and indemnifying the trustees, their assigns and successors against all loss and damage which they might suffer by reason of the said A.B. (or the said X.Y.) making default in the observance and performance of any covenant on his part to be performed and contained in the aforesaid agreement and in consideration of the said education and payments to be given and made by the Trustees to the said A.B. it has also been agreed that the sureties should execute the above-written bond subject to the condition hereinafter contained.
NOW THE CONDITION of the above-written bond is such that if the said A.B. (and the said X.Y.) shall duly and faithfully observe and perform all the stipulations and conditions on his (their) part to be observed and performed and contained in the aforesaid agreement dated the . . . . . . . . . then the above-written bond or stipulation shall be void, otherwise the same shall remain in full force.