BOND FOR PERFORMANCE OF MORTGAGOR’S OBLIGATION BY SECOND MORTGAGEE TO FIRST MORTGAGEE
KNOW ALL MEN by these presents; etc. WHEREAS, the obligor herein holds a second mortgage of Rs. __________ (Rupees ____________) secured upon the above-mentioned premises and is desirous of protecting its investment and at the same time indemnify the aforementioned company by reason of their extending the first mortgage for a further period of three years.
Now, therefore, the condition of this obligation is such, that if the mortgagor above referred to ____________, does well and truly pay or cause to be paid to the above-named obligee, interest on the said obligation as and when the same becomes due and payable, as provided under the terms of the bond and mortgage held by ________ company, and does produce to the said company tax and water rent receipts which are or may be assessed against the said premises, said receipts to be produced on or before the ______ day of ______ of each year during the term hereof and further, keep the building mentioned in the said mortgage, insured against any loss or damage by fire for the benefit of the mortgagee in an amount not less than Rs. _________ (Rupees ___________), in a company satisfactory to the said mortgagee, and it the above-mentioned mortgagor ___________, shall perform or cause to be performed all other stipulations contained in the said bond and mortgage until such time as the same shall become due then this obligation to be void; otherwise to be and remain in full force and effect.
IN WITNESS etc.
