above referred to
Area of Plot _________________Plot/House Number _________________In witness where or the Mortgagor has here unto set his hand and the Governor of Punjab has caused Shri _________________ Chief Secretary to Government, Punjab for and on his behalf to set his hand hereunto the day and year first above written :_________________Signed by the said (Mortgagor)In the presence of -1st. Witness :
Address :Occupation :2nd. Witness :
Address :Occupation :Signed by Shri __________________________________________________ Chief Secretary to Government of Punjab for and on behalf of the Governor of Punjab in the presence of ____________________________________________________________________________________________________1st. Witness :
Address :Occupation :2nd. Witness :
Address :Occupation :Form 'C'(See rules 4 and 6)Form of Mortgage Deed to be executed when the Property is leaseholdThis indenture made this _________________ day of _________________, one thousand nine hundred and _________________ between _________________ son of _________________ of _________________ at present _________________ at _________________ hereinafter called 'the Mortgagor' which expression shall, unless excluded by or repugnant to the subject or context hereof, include his heirs, executors, administrators and assigns) of the ONE PART AND the Governor of Punjab (hereinafter called 'the Mortgagee which expression shall, unless excluded by or repugnant to the subject or context hereof included his successors in office and assigns" of the other part :Whereas by a lease deed dated _________________ and made between the Mortgagor and _________________ (hereinafter called the lessor), the lessor demised to the Mortgagor the property situate at _________________ and more particularly described in the Schedule hereunder written (hereinafter called the said hereditaments) for a term of _________________ years commencing from _________________ at the yearly/monthly rent of Rs. _________________ and subject to the performance and observance of the covenants and conditions therein mentioned.And Whereas the mortgagor has applied to the Mortgagee for an advance of Rs. _________________ (Rupees _________________ only) for the purpose of enabling the Mortgagor.[to construct a house on the said hereditaments.] [to purchase a house built on the said hereditamenrs.] And Whereas the Mortgagee has agreed to advance to the Mortgagor the said of Rs. _________________ on certain terms and conditions.And Whereas one of the conditions for the aforesaid advance is that the mortgage should secure the repayment of the said advance and due observance of all the terms and conditions contained in Punjab Legislative Assembly (Grant of Advance of Deputy Minister) Rules, 1979 (hereinafter referred to as the "said rules" which expression shall, where the context so admits, include any amendment thereof or addition thereto) for the time being in force by a mortgage of the Property described in the schedule hereunder written (hereinafter referred to as the mortgaged property).And Whereas the mortgagee1. has sanctioned to the mortgagor an advance of Rs. _________________ (Rupees _________________ only) payable by such instalments and in the manner as here in after appearing;
2. has paid to the Mortgagor an advance of Rs. _________________ (Rs. _________________ only) in the manner provide in the said rules upon having the repayment of the loan with interest and observance of all the terms and conditions secured in the manner hereinafter appearing :-
And Whereas the mortgagor is to receive from the Mortgagee the aforesaid advance in lump sum or in the following instalments :-1st. instalment _________________
2nd. instalment _________________
3rd. instalment _________________
4th. instalment _________________
And Whereas the lessor of the said premises has given his approval for the mortgage on the condition that if the property be sold under the powers herein contained or otherwise, he will be paid first, after the cost of such sale, his share of the unearned increase as provided in the said lease.Now This Indenture Witnesth As Follows :-(i)In pursuance of the said rules and in consideration of the said advance sanctioned/paid by the Mortgagee to the Mortgagor pursuant to the provisions contained in the said rules the Mortgagor doth hereby covenant with the Mortgage that the Mortgager shall always duly observe and perform all the terms and conditions of the said rules and shall repay to the Mortgagee the said advance of Rs. _________________ (Rupees _________________ monthly instalments from the pay of the Mortgagor commencing from the month of _________________ nineteen hundred and _________________ and the Mortgagor hereby authorises the Mortgagee to make deduction from him the amount of such instalments and the Mortgagor shall pay full amount of advance along with interest due thereon within the specified period in the manner and on the terms specified in the said rules. Provided that the Mortgagor shall repay entire advance with interest in full within the period of ten years from the date of advance, failing which the Mortgagee shall be entitled to enforce this security of the Mortgage at any time thereafter and recover the balance of the advance then due together with interest and costs of recovery by sale of the property mortgaged or in such other manner as may be permissible under the law. It will, however be open to the Mortgagor to repay the amount in a shorter period.(ii)If the Mortgagor shall be utilise the advance for a purpose other than that for which the advance is sanctioned, or if the Mortgagor shall become insolvent or is disqualified to be member of the Punjab Vidhan Sabha for any reason or if he dies before payment of the advance in full, or if the Mortgagor shall fail to observe or perform in any of the terms, conditions and stipulations specified in the said rules and on his part to observed and performed, then and in any such case the whole of the Principal amount of the advance or so much thereof as shall then remain due and unpaid shall become payable forthwith to the Mortgagee with interest thereon at _________________ per cent per annum calculated from the date of the payment by the Mortgagee of the first instalment of the said advance.(iii)In further pursuance of the said rules and for the consideration aforesaid and to secure repayment of the aforesaid advance and interest as shall at any time or times hereinafter be due to the Mortgagee under the terms of these presents the Mortgagee doth thereby demise unto the Mortgagee. All and Singular the said mortgaged property compromised in the said Lease dated _________________ and more particularly described in the Schedule thereunder written together with buildings erected or to be erected by the Mortgagor on the said mortgaged property or materials for the time being thereon with all rights, casements and appurtenances to the said mortgaged property or any of them belonging subject to covenants by the lessee contained in the lease deed dated _________________ and to the conditions therein contained to HOLD upto the Mortgagee for the residue of the said term of _________________ years subject to the terms and covenants of the said lease and subject nevertheless to the proviso for redemption hereinafter contained Provided always and it is hereby agreed and declared by and between the parties hereto that if the Mortgagor shall duly day to the Mortgagee the said principal sum and interest hereby secured in the manner herein provided and also the other money (if any) determined to be payable by the Mortgagor to the Mortgagee under the terms and conditions of the said rules, the Mortgagee will at any time, thereafter upon the request and at the cost of the Mortgagor recovery, retransfer and reassure the said mortgaged property unto and to the use of the mortgagor or as he may direct.(iv)And it is hereby expressly agreed and declared that if there shall be any breach by the mortgagor of the covenant on his part herein contained and to be observed and performed by him or if the mortgagor shall become insolvent or be disqualified to be a member of the Punjab Vidhan Sabha or if he dies before all the dues payable to the mortgagee under these presents together with interest thereon shall have been fully paid off or if the said advance or any part thereof becomes payable forthwith under these presents or otherwise then in any of such cases it shall be lawful for the mortgagor to sell without the intervention of the Courts the said mortgaged property or any part thereof either together or in parcels and either by public auction or by private contract with power to buy in or rescined any contract for sale and to resell without being responsible for any loss which may be occasioned thereby and to do and execute all such acts and assurances for effectuating any such sale as the mortgagee shall think fit and IT IS HEREBY declared that the receipt of the mortgagee for the purchase money of the premises sold or any part of shall effectually discharge the purchaser or purchasers there from and it is hereby declared that the Mortgagee shall hold the moneys to arise from any sale is pursuance of the aforesaid power upon trust, in the first place thereout to pay all the expenses incurred on such sale and in the next place thereout to pay to _________________ the lessor of the mortgaged property _________________ 50 per cent of the unearned increase pursuance to clause _________________ of the said lease and then to pay moneys in or towards the satisfaction of the moneys for the time being owing on the security of these presents and the balance, if any, to be paid to the mortgagor.(v)The Mortgagor hereby covenants with the mortgagees as follows :-(a)that the mortgagor now hath in himself good right and lawful authority to grant, convey, transfer, assigns and assure the mortgaged property upto and to the use of the mortgagee in manner aforesaid.(b)that the mortgagor shall carry out the construction of the house exactly in accordance with the approved plan and specifications on the basis of which the above advance has been computed and sanctioned unless a departure therefrom is permitted by the mortgagee shall mortgagor certify, when applying for instalments of advance that the amount already drawn out of the sanctioned advance has actually been used on the construction of the house. He will allow the mortgagee to carry out either by himself or through his representative an inspection to verify the correctness of the aforesaid certificates. If a false certificate is furnished by the mortgagor, he will be liable to pay to the mortgagee forthwith the entire advance received by him/her, and further will also be liable to any such legal action as may be permissible under the said rules.(c)that the mortgagor shall complete the construction of the house within eight months of _________________ unless an extension of time is allowed in writing by the mortgagee. In case of default the mortgagor shall be liable to repay forthwith the entire amount advanced to him together with interest calculated under the said rules in lump sum. The mortgagor shall report to the mortgagee the date of completion of the house and furnish a certificate to the mortgagee that the full amount of the advance has been utilised for the purpose for which it was sanctioned.(d)that the mortgagor shall maintain the aforesaid house in good repair at his own cost and shall pay all the municipal and other local rates, taxes and all other outgoings in respect of the mortgaged property regularly until the advance has been repaid to the mortgagee in full. The mortgagor shall also furnish to the mortgagee an annual certificate to the above effect.(e)The mortgagor shall afford full facility to the mortgagee for carrying out inspections after completion of the house to ensure that it is maintained in good repair until the advance has been repaid in full.(f)The mortgagor shall refund to the mortgagee any amount together with interest, if any, due thereon drawn on account of the advance in excess of the expenditure incurred for which the advance was sanctioned.(g)That the said lease, dated _________________ is a valid and subsisting lease of the said mortgaged property and is not void or voidable and the rents and the covenants and conditions in and by the indenture of lease reserved have been paid, performed and observed upto the date of these presents and that the same is assignable in the manner hereinbefore stated.(h)That the mortgagor will so long as any money shall remain owing on the security of the said mortgaged property hereinbefore expressed to be hereby assigned and, in any case for the period of the said agreement, duly observe all the covenants and conditions required on his part to be observed under the aforesaid lease and keep the mortgagee indemnified against all actions, suits proceeding, costs, charges claims and demands which will be incurred or sustained by reason of the non-payment of the said rent or the breach, non-performance or non-observance of the said covenants and conditions or any of them.(i)That the mortgagor shall not during the continuance of these presents charge, encumber, alienate, etc. or otherwise dispose of the mortgaged property.
above referred to
Area of the PlotPlot/House No.In witness whereof the mortgagor has herein set his hand and the Governor of Punjab has caused Shri _________________ for and on his behalf to set his hand herein hand herein-to the day and year first above written.Signed by the said mortgagorIn the presence of -1st. Witness :
Address : _____________________________Occupation : __________________________2nd. Witness : _________________________
Address : _____________________________Occupation : ___________________________Signed by the Chief Secretary to Government of Punjab.for and on behalf of the Governor of Punjab in the presence of -1st. Witness :
Address : ____________________________________Occupation : __________________________________2nd. Witness :
Address : _____________________________________Occupation : __________________________________Form 'D'(See Rule 5)Application Form For Purchase of Built-House
| 1 |
Name of Deputy Minister |
| |
(In block letters) |
| 2 |
Father's Name |
| 3 |
Name of the Constituency from which elected |
| 4 |
Party to which he belongs |
| 5 |
Date of swearing in as member of the Punjab Vidhan Sabha |
| 6 |
Particulars of pay/allowances drawn |
| 7 |
Particulars of any other advances outstanding against himgiving nature of advance and rate of monthly recovery
|
| 8 |
Permanent address |
| 9 |
(a) Amount of advance admissible |
| |
(b) Amount of advance required |
| 10 |
Location of the house with full address |
| 11 |
Area of the house |
| 12 |
Age of the house |
| 13 |
Name of the owner and address |
| 14 |
(i) Price to be paid/settled (attach an attested copy of theagreement -
|
| |
(ii) Indicate the exact date by which the sale deed will beexecuted -
|
| |
(iii) If the price of the house proposed to be purchased ismore than the amount of advance how do you propose to pay thebalance.
|
| 15 |
Have you satisfied yourself that the transaction would resultin your acquiring and undisputed title to the house (enclose anattested copy of the letter from the seller that subject tosettlement/payment of the price he can hand over to the applicantthe vacant possession of the house within a period of two monthsfrom the date of the letter.
|
| 16 |
Is the land on which house stands free hold or leasehold ? Ifleasehold whether conditions of the lease permit the land/housebeing mortgaged to Government. Attach consent of the competentauthority to this effect.
|
1. I undertake to utilise the amount of advance for the purpose for which it has been applied for and understand that in case of misutilisation of the advance or misstatement of any facts I shall, in addition to refunding the entire amount in lump sum along with the interest, be liable to pay penal interest at such rate as may be specified by the Government from time to time.
2. I undertake to refund the balance left, if any.
Documents enclosed3.
Signature of the Deputy Minister with addressStation :Dated :AffidavitAFFIDAVIT of _________________________, son of _________________ aged _________________ resident of _________________I, the aforesaid _________________, hereby solemnly affirm and declare as follows _________________:-that I want to purchase a built-up house at -that I propose to purchase a built-up house at for my bona fide residence _________________that neither I nor any member of my family his drawn any house building advance under any scheme or any source.DeponentPlace :Dated :Verified that the above statement of mine is true to the best of my knowledge and belief and nothing has been concealed therein.DeponentPlace :Dated :Form 'E'(See rule 5)Agreement to sellThis agreement to sell is made at _________________ the _________________ day of _________________ 19 between (1) _________________, son of Shri _________________ resident of House No. _________________ (hereinafter referred to as the seller, which term shall, where the context so admits, include his heirs, executors, successors, legal representatives and administrators) of the one part; and (2) Shri _________________ son of _________________ resident of House No. _________________ (hereinafter referred to as the purchaser which term shall, where the context so admits include his heirs, assigns, successors and legal representatives and administrators) of the other part.Whereas the said seller is the absolute owner and in possession of his own residential house No. _________________ measuring _________________ square Yards;And Whereas the said house is free from all sorts of encumbrances, that is sale, gift mortgage and will etc. etc., todate;And Whereas due to some family unavoidable circumstances and other financial difficulties the seller is not in a position to retain the house, therefore, he has agreed with the purchaser for the absolute sale of his above mentioned house in favour of the purchaser and the purchaser has also agreed to purchase the same, on the following terms and conditions :-(i)That the sale price of the said house is fixed at Rs. _________________ and Rs. _________________ has been paid as earnest money to the seller with the promise that remaining amount will be paid by the purchaser within _________________ months.(ii)That the seller hereby further agrees and undertakes to execute and sign all such papers/documents regarding the transfer of ownership of the said house in the name of the purchaser or nominee(s) or any other person of person(s) if such necessity arises at any later stage) on the request and at the cost of the purchaser without any hesitation and delay.3. That all the expenses on the sale deed, i.e., the cost of stamps and registration and on the deed of conveyance shall be borne by the purchaser.
4. In witness thereof the parties have set their hands on this deed at _________________ on the _________________ and _________________ mentioned above in the presence of witnesses -
| Witness No. 1 |
Seller |
| Witness No. 2 |
Purchaser |
| 1 |
(i) Name of the Deputy Minister |
| |
(in Block letters) |
| |
(ii) Father's Name |
| 2 |
Anticipated price of motor-car/Jeep/Motor Cycle/Scooter |
| 2A. |
Anticipated cost for conversion of petrol driven motor car orjeep to a diesel driven vehicle
|
| 3 |
Name of the Constituency from which elected |
| 4 |
Party to which he belongs |
| 5 |
Date of swearing in as member of the Punjab Vidhan Sabha |
| 6 |
Particulars of pay/allowances drawn |
| 7 |
Particulars of any other advance outstanding against him givingnature of advance and rate of monthly recovery
|
| 8 |
Permanent address |
| 9 |
Amount of advance required |
| 10 |
Number and rate of instalments in which the advance is desiredto be repaid
|
| 11 |
Whether the intention is to purchase a new or oldmotor-car/jeep/motor- cycle/scooter
|
| 12 |
Documentary proof to show that negotiations have been made andthat delivery will be taken within one month from the date ofwithdrawal of the advance
|
13. Certificates -
(a)Certified that I have not taken delivery of the [motor-car Jeep/motor Cycle/Scooter] which I have applied for the advance.(b)Certified that I have completed negotiations for the purchase of a vehicle and will take delivery before the expiry of the period specified in clause (ii) of sub-rule (2) of rule 7 and in the event of my failure to purchase and take delivery of the vehicle within the period so specified I undertake to refund the entire advance together with interest in lump sum;(c)Certified that I am unable to make the purchase without the advance applied for.(d)Certified that I shall insure the motor-car comprehensively from the date of taking delivery of the motor-car.(e)Certified that I shall hypothecate the motor-car purchased with the aid of advance in favour of the Government before registration or within fifteen days from the purchase thereof whichever is earlier.(f)Certified that agreement in Form I shall be executed.13A. [ Certificate in case of conversion of a petrol driven vehicle to a diesel driven vehicle. - (a) Certified that I shall get the Motor-Car or Jeep converted to a diesel driven vehicle within a period of one month from the date of drawal of advance;
(b)Certified that I shall hypothecate the petrol driven Motor-Car or a Jeep before the drawal of the advance for its conversion to diesel driven vehicle;(c)Certified that I shall get insured comprehensively the petrol driven Motor-Car or Jeep from the date of drawal of the advance for its conversion to a diesel driven vehicle.]Form 'G'(See rule 7)Form of Hypothecation deep for advance for purchase of Motor-Car, Jeep, Motor Cycle, Scooter conversion of petrol driven Motor-Car or Jeep to a Diesel Driven vehicleThis Indenture made this _________________ day of _________________ one thousand nine hundred and _________________ between _________________ (hereinafter called the "Borrower" which expression shall, include his heirs, administrators, executors and legal representatives) of the one part and the Governor of Punjab (hereinafter called "the Governor" which expression shall include his successors and assigns) of the other part. Whereas the Borrower has applied for and has been granted an advance of Rupees _________________ to purchase a motor-car under the Punjab Legislative Assembly (Grant of Advance to Deputy Ministers) Rules, 1979 (hereinafter referred to "as the said rules" which expression shall include any amendment thereof or addition thereto for the time being in force) on the terms and conditions contained in this Agreement dated _________________ (hereinafter referred to as the Agreement)And Whereas one of the conditions upon which the said advance was granted to the Borrower is that the Borrower would hypothecate the said motor-car/Jeep/motor cycle Scooter or for conversion of and is petrol driven motor- car or Jeep to a diesel driven vehicle] to the Governor as security for the amount advance to the Borrower,And Whereas the Borrower has purchased with or partly without the amount so advanced as aforesaid the Motor-car/Jeep motorcycle Scooter or for conversion of petrol driven motor-car or Jeep to a diesel vehicle particulars whereof are set out in the Schedule hereunder written.Now this indenture witnesseth that in pursuance of the Agreement and for the consideration aforesaid the Borrower doth hereby covenant to pay the Governor the sum of Rs. _________________ aforesaid or the balance thereof remaining unpaid at the date of these presents by equal instalments of Rs. _________________ each on the first day of every month and will pay interest on the sum for the time being remaining, due and owing calculated according to the said rules and the Borrower doth agree that such payments may be recovered from him by monthly deduction according to the said rules, and in further pursuance of the Agreement the Borrower doth hereby assign and transfer unto the Governor Motor-car/Jeep motorcycle Scooter or for conversion of petrol driven motor-car or Jeep to a diesel driven vehicle the particulars whereof are set out in the Schedule hereunto written by way of security for the said advance and the interest thereon as required by the said rules.And the Borrower hereby agrees and declares that he/she has paid in full the purchase price of the said Motor-Car/Jeep/motor-cycle Scooter or has incurred full cost for conversion of petrol driven Motor-Car or Jeep to a diesel driven vehicle and that the same is his/her absolute property and that he has not pledged and so long any money remains payable to the Governor in respect of the said advance he will not sell, pledge or part with the property in or possession of the [said Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] Provided Always and it is hereby agreed and declared that if any of the said instalments of the principal sum or interest shall not be paid or recovered in manner aforesaid within ten days after the same are due or if the Borrower shall die or be disqualified to be member of the Punjab Vidhan Sabha or if Borrower shall sell or pledge or part with the property in or possession of the [said Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] or become insolvent or make any composition or arrangements with his creditors or if any person shall take proceedings in execution of any decree or judgment against the Borrower the whole of the said principal sum which shall then be remaining due and unpaid together with interest thereon calculated as aforesaid shall forthwith become payable and it is hereby agreed and declared that the Governor may on the happening of any of the events hereafter mentioned seize and take possession of the said [Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] either remain in possession thereof without removing the same or else may remove and sell the [said motor car/Jeep/Motor cycle/Scooter or converted diesel driven vehicle] either by public auction or private contract and may out of the sale moneys, retain the balance of the said advance then remaining unpaid and any interest due thereon calculated as aforesaid and all cost, charges, expenses and payments properly incurred or made in maintaining, defending or realising his rights hereunder and shall pay over the surplus, if any to the Borrower, his/her executors, administrators or personal representatives : Provided further that the aforesaid power of taking possession or selling of the [said Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] shall not prejudice the right of the Governor, to sue the Borrower or his personal representatives for the said balance remaining due and interest or in the case of the [Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven] being sold the amount by which the net sale proceeds fall short of the amount owing and the Borrower hereby further agrees that so long as any moneys are remaining due and owing to the Governor, the Borrower will insure comprehensively and keep insured the Motor-car against loss or damage by fire, theft or accident with an Insurance Company to be approved by the Accountant General Punjab that the Motor Insurance Company with whom [said Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] is insured have received notice that the Governor is interested in the policy and the Borrower hereby further agrees that he will not permit or suffer he [said Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] to be destroyed or injured or to deteriorate in a greater degree that it would deteriorate by reasonable wear and tear thereof and further, that in the event of any damage or accident happening to the [said Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] the Borrower will forthwith have the same repaired and made good.The ScheduleDescription of [Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] Maker's NameDescriptionNo. of CylindersEngine No.Chasis No.In witness whereof the said _________________ (Borrower's name) and _________________ for and on behalf of the Governor have hereunto set their respective hands the day year first above written.Signed by the said in the presence of2.
(Signature and Address of the Borrower)(Signature of the witness)Signed by (Name and Address)_________________(for and on behalf of the Governor of Punjab in the presence of)2.
(Signature and address of witness)For and on behalf of Governor of PunjabChief Secretary to Government of PunjabForm 'H'(See rule 7)Surety BondKnow all men by these presents that I, _________________ son/wife/daughter of ______________________ a resident of _________________ in District of _________________/_________________ at present having immovable property in the State of _________________(hereinafter called the Surety", am held and firmly bound unto the Governor of Punjab (hereinafter called "the Government" which expression shall unless included by or repugnant to the subject or context, include his successors in office and assigns) in sum of Rs. _________________ (Rupees _________________ only) to be paid to the Government for which payment to be well and truly made I hereby bind myself my heirs, executors, administrators and representatives firmly by these presents. As witness I set my hand this _________________ day of _________________ one thousand nine hundred and _________________ Whereas _________________ son/wife/daughter of _________________ resident of _________________ in the District of _________________ at present a Deputy Minister, Government of Punjab (hereinafter called the "Borrower") applied to the Sanctioning Authority for an advance of _________________ for purchasing a motor car _________________;And Whereas the Sanctioning Authority sanctioned the payment of Rs. _________________ (Rupees _________________ only) under the Punjab Legislative Assembly - (Grant of Advance to Deputy Ministers) Rules, 1979 hereinafter referred to as the said rules) to Shri _________________, son/wife/daughter of Shri _________________ resident of _________________ at present a Deputy Minister, Government of Punjab for purchasing a motor car; And Whereas the borrower has undertaken to repay the said amount in _________________ monthly instalments;And Whereas the borrower has further undertaken to hypothecate the [Motor-Car/Jeep/Motor-Cycle/Scooter or converted diesel driven vehicle] with the help of the amount and to observe the provisions of the said rules;And Whereas in consideration of the Sanctioning Authority having need to grant the aforesaid advance to the borrower, the surety has agreed to execute the above bond with such conditions as hereunder is written.Now the condition of the obligation is such that if the said Borrower shall 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. _________________ only) along with the interest due thereon shall be duly paid or, hypothecate the [Motor-Car/Jeep/Motor-Cycle/Scooter or a petrol driven motor car or a Jeep converted to diesel driven vehicle] referred to above whichever event happens earlier then this bond shall be void, otherwise the same shall be and remain in full force and virtue. But nevertheless that if the Borrower shall die or becomes insolvent or is disqualified to be a member of the Punjab Vidhan Sabha 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)Address_________________at Day of _________________ 19
| Signature, address and occupation of the witnesses |
In the presence of |
| |
1 |
| |
2 |
2.
(Signature of witnessSigned by (Name and designation)for and on behalf of the Governor of Punjab in the presence of2.
(Signature of witness)Signature and designation of the Sanctioning Authority(Chief Secretary to Government of Punjab).
