This indemnity bond is made and executed at _____________, on the _______day of ________, 20___, by SHRI _____________________________ son of SHRI ________________________ resident of ___________________________________________ herein after called the ' EXECUTANT '.
IN FAVOUR OF
SHRI _________________________, SON OF SHRI ____________________________ Resident of ___________________________________________________hereinafter called the 'PURCHASER' .
WHEREAS the Executant aforesaid is absolute owner / allottee of / and in possession of Residential Flat / House No. __________, situated ________________________________________________, area measuring ______________ Square Meters / Feet / Yards, duly allotted by the ____________________ Authority, hereinafter referred to as the PROPERTY.
AND WHEREAS the Executant aforesaid has also entered into an Agreement to sell with the purchaser on having secured the amount for consideration executed between both the parties
NOW THIS INDENTURE WITNESSETH AS UNDER: -
That the Executant has assured the purchaser that I shall honor the commitments made by me in the Agreement to Sell executed in favour of purchaser and in case the purchaser is dispossessed from the said property due to my any legal mis-stagement or concealment of the facts of for any other reason whatsoever by ___________________ Authority or any other concerned department / society at any stage. I shall indemnify to keep the purchaser harmless at all times and shall pay him three times ofthe amount which I have secured from him as by virtue of an Agreement to Sell along with bank interest thereon.
That in case the purchaser is dispossessed from the said property due to any legal action or legal proceedings brought against the purchaser by the legal heirs of mine or any person claiming through of having trusting me in the Civil, Revenue and Criminal Courts, at any stage, I shall indemnify to keep the purchaser and his legal heirs. Harmless at all times and shall pay the purchaser the three times of the amount which I have secured from the said purchaser as mentioned in the Agreement to sell dated _________________, along with costs and damages and expenses sustained by him / her.
IN WITNESSES WHEREOF I have signed this Indemnity Bond at ________________ in this _________ day of ________, 20___, in the presence of the following witnesses.