Security Bond to be given during the Pendency of Appeal Where in Property is Mortgaged [CD1] 

Security Bond to be given during the Pendency of Appeal Where in Property is Mortgaged

 

To,

This Security Bond on Stay of Execution of Decree by……….

Witnesseth:

That …………., the plaintiff in suit no………..of, 2000, having sued………the defendant in this court, and a decree having been passed on the………day of …….., 2000, in favour of the plaintiff, and the defendant having preferred an appeal from the said decree in the………court, the said appeal is still pending.

Now the plaintiff-decree holder has applied to execute the decree and the defendant has made an application praying for stay of execution of the said decree and has been called upon to furnish security.

Accordingly, i, ( of my own free will). Stand security to the extent of Rs……….mortgaging the properties specified in the schedule hereunto annexed and covenant that if the decree of the first court be reversed or varied by the appellate court, the plaintiff shall restore any property which may be or has been taken in execution of the said decree and shall duly act in accordance with the decree of the appellate court and shall pay whatever may be payable by him there under, and if he should fail therein then any amount so payable shall be realised from the properties hereby mortgaged, and if the proceeds of the sale of the said properties are insufficient to pay the amount due, i and my legal representatives will be personally liable to pay the balance. To this effect i execute this security bond this ………day of ………….., 2000.

Schedule

(signed)…………s/o………….of……..

Witnesses by

1……….s/o……….of………..

2……….s/o……….of………….

 [CD1]Security Bond to be given during the Pendency of Appeal Where in Property is Mortgaged