THIS DEED is made at ……… on this day of 20…… between A son of ……… resident of ……. (hereinafter called the debtor) of the FIRST PART and B son of…….. resident of (hereinafter called the surety) of the SECOND PART and C son of….. resident of...............(hereinafter called the creditor) of the THIRD PART WHEREAS the debtor has requested the creditor to grant him a loan of Rs . …………repayable with interest at the rate of per cent per annum by half‑yearly instalments
AND WHEREAS the creditor has agreed to grant him the said advance on the surety guaranteeing the repayment of the said advance and on mortgage of the properties of the debtor, on the terms and conditions hereinafter appearing.
NOW THIS DEED WITNESSES AS UNDER (1)In consideration of sum of Rs…………advanced by the creditor to the borrower (the receipt of which the debtor does hereby acknowledge), the debtor and the surety hereby jointly and severally promise to pay to the creditor the said sum of Rs…… with interest thereon at the rate of…… per cent per annum in half‑yearly instalments on the... day of and the……… day of …… in each year commencing from the day of …… 20…….
(2)The surety B hereby stand surety for the repayment of the said loan of the interest aforementioned and if any of the instalments aforesaid shall have become payable as aforesaid, then the whole of the said sum of Rs ….... or such part thereof as shall for the time being remain unpaid shall immediately become due and payable and the debtor and the surety will be liable jointly and severally to pay the same to the creditor.
(3) That in consideration aforesaid, the said debtor A hereby declares that the properties described in the Schedule hereto shall remain mortgaged and binds himself, his heirs, successors, administrators and legal representatives with the intent that the said properties shall remain mortgaged as security for the repayment of the said advance and interest in accordance with the covenants herein contained. In case of default in the payment of such sums as afore said by the debtor, the creditor may forthwith enforce against the said properties hereby mortgaged or any part thereof, all or any of there medies of the holder of a simple mortgage
(4) The debtor and surety hereby covenant with the creditor that title of the properties mortgaged to the creditor is clear and free from encumbrances.
Schedule of the properties mortgaged
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands on the day and year first above written.
WITNESSES 1. ………………
2. Debtor
……………….
Surety

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This is a reference draft reproduced for study and adaptation. Court rules, court fees and the correct forum vary with the facts and the value of the claim, so have the document checked and filed by an advocate. A defective application can be returned or dismissed even when the case itself is good.

Our Criminal Law team drafts and files these documents before the Calcutta High Court, city civil courts, magistrate, family and consumer courts in Kolkata. Our criminal defence team handles bail, trial and pre-trial applications in Kolkata courts.

Disclaimer: this page is a sample format reproduced for reference and study. It is not legal advice and does not create an advocate–client relationship.

Bond with Sureties for a Loan with Mortgage

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