THIS INDEMNITY BOND is executed at Mumbai on this ____ day of _____, 200_ BY (1) _______________________________, (2) ____________________________ and (3) ______________________________, partners of a partnership firm ___________ having address at _______________________________, hereinafter referred to as “THE VENDORS” (which expression shall unless it be repugnant to the context or meaning thereof shall deem to mean and include the partners or partner for the time being of the said firm, the survivors or survivor of them and the heirs, representatives, executors and administrators of the last surviving partner, their or his assigns) hereinafter collectively referred to as the Party of the FIRST PART
AND
__________________________________ an Indian Inhabitant, residing at Flat No.___ ______________________________________________, hereinafter called “THE PURCHASER” (which expression shall unless it be repugnant to the context or meaning thereof shall deem to mean and include his legal heirs, representatives, executors, administrators and permitted assigns.
WEREEAS :
a) By ________________ executed between _____________ being the Vendors herein (therein also refereed to as the Vendors) of the First Part and _____________, being the Purchaser herein (therein also referred to as the Purchaser) of the Second Part, the Vendors coveyed to the Purchaser all their right, title and interest in 5 shares of Rs.50/- (Rupees Fifty Only) each bearing distinctive Nos.___ to _____ (both inclusive) (said Shares) vide Share Certificate No._____________ dated ______________ issued by _____________ Co-operative Housing Society Ltd. (said Society) in the Flat No.___ admeasuring ________sq,ft. B.U.A./C.A. on the Third Floor of the building ______ situated at ______________________ Mumbai - _______ (hereinafter called the “said Flat”) and more particularly described in the Schedule hereunder written for consideration free from encumbrances;
b) At the time of execution of the aforesaid __________ Deed, the Vendors have agreed to execute an indemnity , indemnifying the Purchaser;
c) At the instance of the Purchaser, the Vendors have agreed to execute an Indemnity Bond, indemnifying the Purchaser.
NOW THIS DEED WITNESSETH THAT, pursuant to the said agreement
The Vendors do hereby covenant with the Purchaser that the Vendors will indemnify and keep indemnified the Purchaser for any action, suit, litigation or claim of any nature whatsoever made by any person of any nature whatsoever in respect of or touching the said Shares and the said Flat or any part thereof by virtue of any act of commission or omission done by the Vendors prior to execution of this Deed and the Vendors agree to compensate the Purchaser against any loss, costs, charges and expenses the Purchaser may incur or suffer on account of such action, suit, litigation claim or any dispute touching to the right, title and interest of the Vendors in upon and to the said Shares and the said Flat described in the Schedule hereunder written.
SCHEDULE OF THE PROPERTY ABOVE REFERRED TO
(Description of the said Shares and the said Flat)
5 shares of Rs.50/- (Rupees Fifty Only) each bearing distinctive Nos.___ to _____ (both inclusive) vide Share Certificate No._____________ dated ______________ issued by _____________ Co-operative Housing Society Ltd. in the Flat No.___ admeasuring ________sq,ft. B.U.A./C.A. on the Third Floor of the building ______ situated at ______________________ Mumbai - _______:-
IN WITNESS WHEREOF the Vendors hereto have hereunto set and subscribed their respective hands the day and the year hereinabove written.
SIGNED, SEALED AND DELIVERED by the )
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withinnamed the “PARTIES OF THE FIRST PART” )
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(1) ___________________________, ) _______________
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(2) ___________________________ and ) _______________
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(3) ____________________________ )
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through their Authorised Signatory )
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) _______________
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in the presence of …………… )
(1) ___________________________
(2) ____________________________
BEFORE ME