Simple Money Bond with Surety by Shiva.

Simple Money Bond with Surety

THIS BOND is made by us, A.B., aged . . . . . . . . . . years, son of . . . . . . . ., resident of . . . . . . . . . ., AND C.D., aged years, son of . . . . . . . . . . . . . . . . . ., resident of  . . . . . . . . ., hereinafter called the ‘‘Debtor’’ and the ‘‘Surety’’ respectively, which expressions shall include the heirs, executors, and administrators of the Debtor and the Surety respectively.

AND WITNESSES that we are held and firmly bound, jointly and severally to E.F., aged . . . . . . . . . . years, son of . . . . . . . . . ., resident of . . . . . . . . . ., in the sum of Rupees . . . . . . . . . . (Rs . . . . . . . . . .) only to be paid to the said E.F., his heirs, executors, administrators or assigns (hereinafter called ‘‘the Obligee’’) on the terms and conditions hereinafter appearing:

WHEREAS E.F. has this day advanced a loan of Rupees . . . . . . . . . . . . . . . (Rs . . . . . . . . . .) only to the Debtor repayable on or by the . . . . . . . . . . . . . . . day of . . . . . . . . . ., 20 . . . . . . . . . ., with interest at . . . . . . . . . .% per annum AND the Surety has guaranteed the repayment of the said loan together with interest and by the stipulated time.

NOW, THEREFORE, THIS BOND is executed by the aforesaid A.B. and C.D. and binds the aforesaid Debtor and Surety as under:

1.   That the loan with interest as stipulated shall be paid by the said Debtor by or before the date aforesaid.

2.   That in case of non-payment and on failure of the Obligee realising the money and interest due from the said Debtor or from his properties the said Surety shall reimburse and pay the entire sum or any balance then remaining unpaid in accordance with the terms of this Bond to the Obligee.

IN WITNESS whereof, we, the said A.B. and C.D., have hereto respectively signed and delivered at . . . . . . . . . . the . . . . . . . . . . day of . . . . . . , 20 . . . . . . . . . .

Witness:                                                                       Sd. A.B.

Debtor.

Sd. C.D.

Surety.