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Agreement Bond HBA

The document outlines a Surety Bond and an Agreement for a loan to be used for constructing a new house, detailing the obligations of the borrower and the surety. It specifies the conditions under which the loan must be repaid, including the requirement for the borrower to mortgage the property and the consequences of default. Additionally, it includes provisions for the recovery of the loan amount from the borrower's gratuity upon retirement or death.

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SrikanthMadastu
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47 views4 pages

Agreement Bond HBA

The document outlines a Surety Bond and an Agreement for a loan to be used for constructing a new house, detailing the obligations of the borrower and the surety. It specifies the conditions under which the loan must be repaid, including the requirement for the borrower to mortgage the property and the consequences of default. Additionally, it includes provisions for the recovery of the loan amount from the borrower's gratuity upon retirement or death.

Uploaded by

SrikanthMadastu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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FORM – IX

See Rule – 6 (B)

SURETY BOND

KNOW ALL MEN BY THESE REPRESENTS THAT I, ___________________


_________________________________ son of ___________________________________
a resident of ___________________________________________________in the District of
________________________________________ at present employed as a permanent
_______________________________ in the ___________________________________
_________________________________(hereinafter called the surety) and held and firmly
bound upto the Governor of Telanganan (hereinafter called the Government which
expression shall unless excluded by or repugnant to the subject or context include his
successors in office and assigns) in the sum of Rs. ____________________________
(Rupees ___________________________________________________________) to be paid
to the Government FOR WHICH PAYMENT to be will and truly made I hereby bind myself
heirs, executors, administrators and representatives firmly by these presents as witness by
hand this ______________________ day of _____________________ Two thousand and
________________
.

WHEREAS ____________________________ son of ________________________


a resident of _____________________________________________________________ in
the District of ________________________________________ at present employed as
temporary/permanent ____________________________in the ___________________
______________________________(hereinafter called) the borrower *(but is due to retire
on _______________) applied to the Government for an advance of Rs. __________
(Rupees ________________________________________________only) for the purpose of
purchasing/land and/or constructing a new house/purchasing a ready built house and whereas
the Government sanctioned the payment of Rs. _______________________________
(Rupees ______________________________________only) under the rules framed by the
Government of Andhra Pradesh to regulate the grant of advance to Government servants for
building etc. of houses issued by the Government of Andhra Pradesh in G.O.Ms.No. 368,
Finance dated 26th March, 1958 (hereinafter referred to as the ‘said rules’).

AND WHEREAS the borrower has undertaken to repay the same amount in
______________ monthly instalments.

AND WHEREAS the borrower has further undertaken to mortgage the house
built/purchased/redeemed with the help of the said amount and to observe the provisions of
the said rules.
AND WHEREAS inconsideration of the Government having agreed to grant the
aforesaid advance to the borrower the surety has agreed to execute the above bond with such
condition as hereunder is written.

NOW THE CONDITION OF THE OBLIGATION is such that if the said borrower
shall while employed in the said or any other office ___________________________
_________________________________ duly and regularly pay or cause to be paid to the
Government the amount of the aforesaid advance owing to the Government by instalments
until the said sum of Rs. ___________________(Rupees _____________________________
________________ only) shall be duly paid, or mortgages to the Government the
house/built/purchased/redeemed referred to above whichever even happens earlier, then this
bond shall be void, otherwise the same shall be and remain in full force and virtue. BUT SO
NEVERTHELESS that if the borrower shall die or become insolvent or at any time cease to
be in the service of the Government the whole or so much of the said principal sum of
Rs. _____________________ (Rupees ______________________________________ only)
together with the interest as shall then remain unpaid shall immediately become due and
payable to the Government and recoverable from the surety in one instalment by virtue of this
bond.

The obligation undertaken by the Surety shall not be discharged or in any way
affected by an extension of time or any other indulgence granted by the Government to the
said borrower.
Signed and delivered by the said ________________________________ signature of surety)
____________________________________________ day of ____________________ 2016,
office to which attached _______________________________________________________

Signature, address and


Occupation of the Witnesses. In the presence of:

. 1.

2.

Signed by Directorate of Economics and Statistics,


Hyderabad

1st Witness: ____________________

Occupation: ____________________

2nd Witness: ____________________

Occupation: ____________________
FORM -V
(See Rule-5 (a) (1) (ii) and (2) (i) )

Form of Agreement to be executed at the time of drawing an advance


for the construction of a new house

AN AGREEMENT made this _______________________ day of ________________


Two thousand and ___________________________________________________________
BETWEEN ________________________________________________________________
________________________________________________________________________ OF
___________________________________________________________________________
___________________________________________________________________________
(hereinafter called the borrower, which expression shall include his heirs, administrators,
executors and legal representatives of the one part) and the Government of Telangana
(hereinafter referred to as the Government) of the other part.

WHEREAS the borrower has under the provisions of the Andhra Pradesh Financial
Code, Volume-I (hereinafter referred to as the said code which expression shall include any
amendments thereof or additions thereto for the time being in force) applied to the
Government for a loan of Rs. ___________________ for constructing a new house thereon :

AND WHEREAS the Government have agreed to lend 50 per cent of the advance in
the first instance on the borrower mortgaging in favour of the Government the land purchased
by him along with the house to be built thereon on the terms and conditions hereinafter
contained.

NOW IT IS HEREBY AGREED between the parties hereto that in consideration of


the sum of Rs._____________________ to be paid by the Government to the borrower (the
receipt of which the borrower hereby acknowledges), the borrower hereby agrees (1) to pay
the Government the said amount with interest calculated according to the relevant provisions
of the said code by monthly deductions from his salary as provided for the said order and
hereby authorized the Government to make such deductions and (2) within two months from
the date of drawal of the first instalment of the advance to expend the amount drawn (3) to
execute a document hypothecating the said land purchased by him along with the building to
the Government as security for the amount lent to the Borrower as aforesaid and interest in
the form provided by the said code.

AND IT IS HEREBY FURTHER AGREED AND DECLARED that if the


construction of the house has not been undertaken and the land along with the building has
not been hypothecated within two months from the date of drawal of the advance or if the
borrower within that period becomes insolvent or quits the service of the Government or dies
the whole amount of the loan and interest accrued thereon shall immediately become due and
payable to the Government.
AND IT IS HEREBY LASTLY AGREED AND DECLARED that the Government
shall be entitled to recover the balance of the said advance with interest remaining unpaid at
the time of his retirement or death preceding retirement, from the whole or any specified part
of the gratuity that maybe sanctioned to him.

IN WITNESS whereof the borrower and for and on behalf of the Governor of
Telanagana have hereunto set their hands the day and year first before written.

*Signed by the borrower in the presence of

1.

2.

(Signature of witnesses)

(Signature and Designation


of the borrower)

Signed by (name & Designation)

Sri Directorate of Economics and Statistics,


Hyderabad for and on behalf of the Governor of Telangana in the presence of

1.

2.

(Signature of witnesses)

*Name and Designation of the borrower

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