The ordeal
INDEMNITY BOND-CUM-UNDERTAKING THIS INDEMNITY BOND-CUM-UNDERTAKING is made on this the 23rd day of April, 2019 by <Name>, aged 38 years, Son of <Parent Name>, resident of <Flat/Plot>, Ireo Rise, Sector – 99, Mohali (hereinafter referred to as the “Indemnifier”, which expression shall, unless repugnant to the context or meaning thereof, include his/her heirs, successors, administrators, nominees and assigns) of the ONE PART. IN FAVOUR OFM/s. Puma Realtors Private Limited, a company incorporated under the Companies Act, 1956 having its registered office at 5 Dhanraj Chambers, 1st Floor, Satbari, New Delhi 110074 (India) (hereinafter referred to as the “Beneficiary”, which expression shall, unless repugnant to the context or meaning thereof, include its successors, administrators, nominees and assigns) of the OTHER PART.WHEREAS:The Indemnifier is/are the allottee/s of Apartment No. CCD-03-004, Type 2B2T-A, Floor 3rd, Tower 1 with Car Parking Bay number/s 146 (2 car parkings) having Super area of 1233 sq. ft. (114.55 sq. mts) in IREO Rise, Mohali, Punjab, (hereinafter referred as the said “Apartment”) in terms of the Apartment Buyer’s Agreement dated 13-October-2011 executed with the Beneficiary (hereinafter referred to as “Agreement”); In consideration of the Indemnifier having paid the entire sale consideration for the said Apartment and all other charges as per the terms of the Agreement, the Beneficiary has handed over the peaceful, vacant and physical possession of the Apartment to the Indemnifier and has also executed and registered the Conveyance Deed and Deed of Apartment for the said Apartment in favor of the Indemnifier. NOW, THEREFORE, THIS INDEMNITY BOND-CUM-UNDERTAKING WITNESSES AS UNDER: That the Indemnifier has taken possession of the Apartment as per the terms of the Agreement to its complete satisfaction and after due inspection and verification at his/her/their end. The Indemnifier undertakes that he/she/they shall henceforth have no claim against the Beneficiary in respect of the size, measurement, location, specifications, services of the Apartment, of any nature whatsoever, and the Indemnifier shall henceforth be fully responsible for the same.That any enhancement in the EDC and all taxes, levies, cesses, charges or assessments or any other claims/demands by whatever named called, whether levied or leviable in future by any Government Authority (ies) or department or agency (ies), with effect from the dated of this Notice of Possession, in respect of the said Apartment, shall be borne and paid by the Indemnifier, or shall be reimbursed to the Beneficiary on actuals in the event the same is discharged by the Beneficiary, as determined by the concerned authorities/ Beneficiary.That the Indemnifier undertakes not to use the said Apartment for any purpose other than that permitted by law and further, shall use the same as per the plans sanctioned the by Competent Authority (ies).That the Indemnifier shall have no ownership right, title, interest or claim, whatsoever, in the common land and the common amenities provided in the IREO Rise project, except and to the extent as provided as per the applicable law. The Indemnifier undertakes that it shall not create any obstructions or hindrance of any nature whatsoever to harm the interest of others occupants of the said project.The Indemnifier has executed the Maintenance Agreement with the Beneficiary and the Maintenance Service Agency appointed by the Beneficiary and undertakes to pay the maintenance charges as applicable and demanded by the Maintenance Service Agency. The common amenities provided shall be maintained by such Maintenance Service Agency or Residents Welfare Association, as the case may be. That the Indemnifier shall indemnify the Beneficiary and keep the Beneficiary saved, harmless and indemnified against all losses and damages caused to the Beneficiary due to any act/omission of the Indemnifier and/or violation of any statutes, rules, regulations, laws, bye-laws etc. The indemnifier shall indemnify the Beneficiary and keep the Beneficiary saved, harmless and indemnified against all loss or damages caused to the Beneficiary due to any default and/or breach of any provisions of this Indemnity Bond-Cum-Undertaking by the Beneficiary or breach of any concern or obligation of the indemnifier in the Apartment Buyer’s Agreement. That the Indemnifier undertakes that it shall be liable to pay all statutory taxes, liabilities, dues and charges related to the said Apartment as demanded by the GMADA, Municipal Authority, Government or any other competent authority at any point of time, whether demanded retrospectively, in present or in future.IN WITNESS WHEREOF, I/we, the above named, have set my/our hand/hands on these presents on the date hereinabove first our mentioned in the presence of witnesses who have also set and subscribed their respective hands in my presence and in the presence of each other. WITNESSESS: INDENMIFIER1. (Name1) BUYER NAM2. (Name2) ................
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