BOND BY VENDOR TO THE PURCHASER ON ACCOUNT OF LOSS OF TITLE DEED

 

[Another Form]

THIS BOND made this ___________ day of _________ 20_____,

between

_____________________________________________ [insert the name, address etc. ofvendor](hereinafter called ‘the Vendor’) of the One Part

And

_____________________________________________________________ [[insert the name, address etc. ofpurchaser] (hereinafter called ‘the Purchaser’) of the Other Part.

WHEREAS:

1. By a Deed of Conveyance registered with the office of District Registrar at _________ entered in Book No. I, Vol. No. ______ Being No. _______ Pages ________ to ______ for the year _______, the Vendor sold to the Purchaser and the Purchaser purchased All That the piece and parcel of land or premises, as fully described in the schedule to the said Deed of Conveyance and also described in the schedule hereunder written.
2. The vendor declares that in spite of exhaustive searches, he could not find in his possession or custody or at any reasonable place, the relevant Title Deed in respect of the said property conveyed thereunder, for inspection of the Purchaser or his advocate and the Purchaser on the assurances by the Vendor to execute a proper Bond for the loss of the Title Deed, agreed to purchase the said property.
3. It was agreed that for the satisfaction and the indemnity of the said purchaser and in addition to the ordinary covenants for title implied by law in the said Deed of Conveyance, the Vendor executes this Bond subject to the conditions hereinafter contained.

NOW THE CONDITION of this Bond is that the Vendor is held and firmly bound to the Purchaser in the sum of Rs.___________ (being twice the amount of purchase money) and shall at all times hereafter save harmless and keep indemnified the said Purchaser and the persons deriving title under him from and against all proceedings, losses (including loss attributable to improvements which may be made on the property), costs, charges, expenses, claims and demands whatsoever in respect of the said property comprised in the said Deed of Conveyance to which he or they would not have been subject or liable if the conveyance of the said property to the Vendor have been duly delivered to the said Purchaser upon the completion of the purchase.

AND in such case the above written Bond shall be void otherwise the same shall remain in full force and effect.

IN WITNESS WHEREOF, etc.?

 

SIGNED AND DELIVERED by the parties

 

WITNESS:

1. ___________
2. ___________