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 Delhi on this __________ day of __________ 20__ between Shri/Shrimati/Kumari __________ __________ Son/Daughter of ______________________ resident of __________________ __________________ hereinafter called the Executant/Vendor/First Party and Shri/Smt./Kumari __________ __________ Resident of _________ __________(hereinafter called the Second Party/Beneficiary/Purchaser).

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 Delhi) (hereinafter referred to as society) and by virtue of Membership No. __________ of the said society with the lease hold rights of the land under the said flat.

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.

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.

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