THIS INDEMNITY BOND made at this___ day of_____20__
Shri _______________ Son of __________ age _______ years, occupation ____, resident of _________ hereinafter called the INDEMNIFIER, (which express shall, unless repugnant to the context, mean and include her heirs, executors, administrators and assigns) of the One Part
Shri _______________ Son of __________ age _______ years, occupation ____, resident of _________ hereinafter called the INDEMNIFIED, (which express shall, unless repugnant to the context, mean and include her heirs, executors, administrators and assigns) of the Other Part.
WHEREAS the property bearing House No. is owned and possessed by the indemnifier;
AND WHEREAS the indemnifier has sold, transferred and conveyed the said property unto the indemnified by a sale-deed, dated____.;
AND WHEREAS the said sale-deed executed by and between the parties hereto has also been registered with the office of the Joint Sub-________________________________
AND WHEREAS during the course of the said transaction and while its completion, the indemnifier represented unto the indemnified that the former had an absolute legal right and authority to sell, transfer and convey the said property;
AND WHEREAS the indemnified has required and called upon the indemnifier to indemnify the indemnified if the event of any loss or damage, if occurred, unto the indemnifier;
AND WHEREAS the indemnifier having received the full and final consideration of the purchase-price has agreed to execute the indemnity bond being these presents;
AND WHEREAS the parties hereto have decided to reduce into writing the terms and conditions, which they have worked out and agreed to;
NOW, THIS DEED WITNESSES as follows :
1. That the indemnifier does hereby agree and undertake to indemnify the indemnified for any loss or damage caused in respect of the said property.
2. That on the basis of the assurance offered by the indemnifier by way of these presents that the indemnified has agreed to purchase and acquire the said property.
3. That the indemnifier has been executing this bond only as a part and by way of the promise given by him to indemnify the loss or damage, if caused, in respect of the said transaction or property.
IN WITNESS WHEREOF the parties hereto have signed here under