COLLATERAL BOND TO SECURE PAYMENT OF BOND AND MORTGAGE
KNOW ALL MEN by these presents; etc.?WHEREAS, to induce the said obligee to advance the said sum of Rs. _______ (Rupees __________) upon the said bond and mortgage, as aforesaid, and to execute and deliver the said extension agreement, the said obligors have agreed to make, execute, and deliver this bond as further and additional security for the payment of the said above-mentioned bond and mortgage.
Now, therefore, the condition of this obligation is such, that if the parties bound to pay the moneys secured by said bond and mortgage or the above-bounden obligor, their respective legal representatives or assigns shall well and truly pay, or cause to be paid, to the said obligee, their successors, legal representatives, or assigns, the just and full sum of Rs. ________ (Rupees _____________) together with all interest thereon, as the same shall become due and payable according to the terms and conditions of the aforesaid bond and mortgage and extension agreement; and if the said obligors, their respective legal representatives and assigns shall, at all times hereafter, hold indemnify, and save harmless the said obligee, their successors, legal representatives, and assigns, from and against all losses, damages, costs, expenses, suits, actions, claims, and demands whatsoever, which they may or might otherwise, at any time hereafter, sustain, suffer, be liable to, or obliged to pay under or by reason of any default in any of the terms, provisions, covenants, or conditions of the aforesaid bond and mortgage or any extension thereof, then this obligation to be void, otherwise to remain in full force and effect.
IN WITNESS WHEREOF etc.