BOND FOR PAYMENT OF MONEY WITH INTEREST IN YEARLY INSTALMENTS

 

[Alternative Form]

KNOW ALL MEN by these presents:

The condition of the above-written bond is such that if the above-bounden obligor, his heirs, executors, or administrators shall pay or cause to be paid to the above-named obligee, his executors, administrators, or assigns, the sum of Rs._______ (Rupees ________), by five equal yearly payments on the ______ day of _____ in every year, the first of such payments to be made on the _____ day of ______ next, and shall also in the meantime, and until the whole of (the said sum of Rs.________ (Rupees____________) shall be paid off in the manner aforesaid, pay or cause to be paid to the said obligee, his executors, administrators, or assigns, interest for the same sum of Rs.___________ (Rupees ___________) or for so much thereof as shall for the time being remain due and unpaid, at the rate of _______ per cent (________%) p.a. to be computed from the date of the above-written bond, by half-yearly payments, on the _______ day of ________ and the _______ day of _________ in every year, the first of such payments of interest to be made on the ______ day of ________ next; but provided, nevertheless, that in case default shall be made in the payment of any of the said respective sums of principal or interest, or any-part thereof, respectively, within.......... days after the day or time hereinbefore mentioned and appointed for payment thereof, respectively, then and in any such case the whole of the said principal sum of Rs._________  (Rupees___________), or so much thereof as shall then remain due and unpaid together with the interest which shall have become due thereon, shall forthwith after such default become payable to the said obligee, his executors, administrators or assigns, and be recoverable by virtue of the above-written bond; then the above written obligation shall be void, otherwise the same shall remain in full force and effect.

[In Witness, etc.].