EQUATED INSTALLMENTS BOND

I, ______________etc., having borrowed Rs. . .....................from ___________ etc., hereby promise to pay to the said _____________the said sum of Rs. . .....................and interest at the rate of ..................... percent per annum in twelve equated installments of the principal and interest combined of Rs. . .....................each payable on the ..................... day of ..................... and the ..................... day of ..................... in each year, the first installment being payable on the ..................... day of ..................... ;

And I hereby agree that in case any such installment shall remain in arrears for one month the whole money then due on account of the principal and interests shall thereupon become payable at once.