Shown below are the rough and general drafts of
documentations. These may be got verified from legal experts before signing as AAkarashna Realtors Inc. will not be responsible for any
inaccuracies and deficiencies in these. (M) 09891088944, 9818512450
Email: investments@aakarshna.com,
Website: http://www.aakarshna.com
INDEMNITY BOND
Note: This format has been prepared as applicable to
flats. The word "flat" can be substituted with the type of property
for which this document is being executed. Similarly, the name of the concerned
authority can also be changed as applicable. For the sake of convenience, we
have italicized such words.
This Indemnity Bond is executed at
The expression of First Party and the Second Party shall
mean and include their representatives heirs,
successors, legal representatives, administrators, nominees and assigns etc.
WHEREAS THE FIRST PARTY is the sole
absolute owner / allottee and in physical and lawful
possession of Flat No. __________ situated at __________ __________ __________
__________ (hereinafter called the said Flat) and Category-B, comprising
of two bedrooms, one drawing cum dinning room, one study room, kitchen, two
toilet cum bathrooms and balcony allotted by the __________ __________
__________ __________ built on Plot No. __________ __________(A
Co-operative Group Housing Society Registered with Registrar of Co-operative
Socities, Delhi/New
WHEREAS A PIECE OF LAND was allotted to the said society
by the Delhi Development Authority, for the construction of Co-operative
Group Housing Society flats for its members at Plot No. __________, and allotment to executant was
confirmed by Delhi Development Authority.
Whereas the Executant due to his
/ her / their legal needs and requirements has / have agreed to sell, transfer,
convey, assign and bequeath his / her / their rights, interests, liens and
titles in the said flat unto the purchaser under the terms and
conditions of the separate agreement to sell.
Whereas the Executant assured
the purchaser that he / she / they has / have self acquired the aforesaid flat
exclusively out of his / her / their own funds / savings and without any
contributions, assistance or investments made therein by any of his / her /
their family members / relatives / associates nor funds from inheritance, joint
family etc. have been used in the acquisition.
Whereas the Executant assured
the Purchaser that his / her / their family members including spouse / sons /
daughter's parents / brothers / sisters etc. have neither any interest nor any
right or any title in the said flat.
And Whereas the Executant has
assured the purchaser that the said flat is free from all encumbrances,
liens, attachments, disputes, legal flaws, exchange or any Agreement of sale
etc. and Executant has got the clear marketable title
of the said flat and if at any stage it is proved wrong / false and the
purchaser suffers and sustains any losses, damages, costs, expenses etc. and
whereas the Purchaser wants the Executant to
indemnify him / her / them from such losses, damages, costs and expenses etc.
due to the aforesaid reasons and thus this indemnity bond is executed by the Executant in favour of the said
purchaser.
NOW THIS DEED WITNESSETH AS
UNDER:
1. That the Executant
hereby undertakes to indemnify and keep harmless the purchaser against all
such losses, expenses, damages, costs etc. which may be suffered, incurred,
undergone and / or sustained by the purchaser due to the false commitments
of the Executant in which event the Executant
shall undertake to make good the same and if the Executant
fails to make good the same then the purchaser shall have the right to recover
the same from any flat/assets of the Executant
and / or from the persons acquiring any benefit, share etc. from the movable,
immovable properties of the Executant and hereby
further confirms and declares that this bond is irrevocable and shall be final
and binding on him / his / her / their heirs, executors, administrators, legal
representatives and assigns.
In witnesses whereof, the Executant
has signed the Indemnity Bond on the day, month and year first above mentioned
in the presence of the following witnesses.
Witnesses:
1.
EXECUTANT(S)
2.
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Shown above are the rough and general drafts of documentations.
These may be got verified from legal experts before signing as AAkarashna Realtors Inc. will not be responsible for any inaccuracies
and deficiencies in these. (M) 09891088944, 9818512450
Email: investments@aakarshna.com,
Website: http://www.aakarshna.com