INDEMNITY BOND ON HOME LOAN

This Deed of Indemnity made at __________ (Name of Place) this the ______ day of _______ month _______ year between ______________________ hereinafter referred to as the party of the First Part (which expression shall wherever the context so requires or permits, include his/her heirs as executors, administrators and assigns) of the One part and the __________________________ (Name of Company), a public company incorporated under the Indian Companies Act.1913, and having its registered office at __________________________(Address with pin code), hereinafter referred to as “the party of the Second Part ( which expression shall wherever the context so requires or permits includes its successors and assigns) of the OTHER part.

WHEREAS the party of the First Part had applied to the party of the Second part for the loan of an amount of Rs____________ for the purchase of a flat/construction of a house under the Housing Loan Scheme applicable to the employees of the party of the Second part.

AND WHEREAS the party of the Second Part has agreed to sanction the said loan on the condition that the party of the First Part should give to the party of the Second Part an Indemnity as hereinafter provided.

NOW THIS INDENTURE WITNESSETH AS FOLLOWS:

The party of the First Part hereby absolutely irrevocably and fully indemnifies and will at all times hereinafter keep indemnified, saved and defended and harmless the party of the Second Part, their servants and agents in respect of and against all claims, demands, rights, actions, proceedings of whatsoever kind or nature and by whomsoever and whenever made taken filed against, the party of the Second Part and in respect of and against all losses, payment, damages, costs, charges, expenses, liabilities of whatever kind and nature incurred/sustained by the party of the Second Part or which the Party of the Second Part may howsoever and whenever suffer, sustain incur or to be exposed to by means of or in respect of or as a result of or consequent upon any act of omission or commission on the part of the party of the First Part or any other person, firm, body or corporation whatsoever arising out of the sanction of the said loan by the party of the Second Part to the party of the First Part under the Housing Loan Scheme.

IN WITNESS WHEREOF the party of the First Part have their in to set and subscribed their hands and seal this day and year hereinabove written.

Signed ,Sealed and delivered by ____________________

in the presence of: _____________________

Signature of the Executants

(_______________________ Name of 1st Party)

Identified by me:

Advocate/_______________(Name of Place)