BOND BY BUILDERS IN FAVOUR OF FINANCING COMPANY FOR CONSTRUCTION LOAN
KNOW ALL MEN by these presents:
That we, _________ are hereby jointly and severally bound unto ______ in the sum of Rs. _______ and _______ without any relief from valuation or appraisement laws.
The conditions of this bond are that the said ________ had borrowed of the said ________ the sum of Rs. _________ (Rupees ___________), to be used in paying for labour and material in the construction of a building on the piece or parcel of a land lying and situated at __________.
And the said ____________ executed _________ mortgage to the said __________ on said land to secure the payment of said ________ according to the terms of said mortgage.
Now, if the said _________ shall complete said house according to the plans and specifications therefor and pay for all labour and material used in the construction of said house and prevent the enforcement of any lien or liens against said house or said building and make said mortgage to be and remain a first and paramount charge upon said house, then this bond shall be void, otherwise it shall remain in full force and effect.
IN WITNESS, etc.
SIGNED, SEALED AND DELIVERED
in the presence of WITNESS:
- ____________
- ____________
