DEED OF ASSIGNMENT OF A BOND DEBT

DEED OF ASSIGNMENT OF A BOND DEBT

THIS DEED OF ASSIGNMENT is made at ……………………on this day of …………………20 ………between X son of Shri ……………resident of (hereinafter called the "Assignor", which expression shall include his heirs, executors, successors, administrators, representatives and assigns) of the ONE PART and Y son, of Shri …………resident of ………………(hereinafter called the "Assignee" which expression shall include his heirs, executors, successors, administrators, representatives and assigns) of the OTHER PART.

WHEREAS

(1) X, the assignor has advanced a sum of Rs to Shri Z son of Shri . resident of ……………on payable in interest at the …………rate of ……………per cent per annum and the said Z became bound to the said Assignor in the sum of Rs . ……………by a bond bearing date executed by him, subject to the condition for discharge as thereunder provided.

(2) The principal sum and arrears of interest on the said bond payable by. the said Z at present amounts to Rs . ……………

(3) The said bond is still in full force and virtue.

(4) The assignor has agreed to transfer and assign the said beneficial Interest in the said bond to the assignee.

NOW THIS DEED OF ASSIGNMENT WITNESSETH THAT:

In consideration of the payment of a sum of Rs ………………made by the Assignee to the Assignor on the date of this deed (the receipt whereof the Assignor does hereby acknowledge) the assignor hereby assigns the. right to receive and recover the said sum of Rs. ……from the said Z or his heirs, executors, successors, administrators, representatives and assigns) together with future interest at per cent per annum to hold the same unto the assignee absolutely and the assignor has delivered the said bond to the assignee with all the rights of recovery, of the said sum from the said Z as aforesaid.

And the assignor hereby covenants that the said debt is still due and payable to the assignor by the said Z and he shall not do or suffer anything which may prevent or adversely affect the recovery of the said sum of Rs . ………………with interest thereon from the said Z and that at the request of the assignee, the. assignor shall. do all acts arid. Make such writings or statements as shall be necessary to effectuate this assignment.

IN WITNESS WHEREOF THE ASSIGNOR has executed this deed of assignment on the day and year first above mentioned.

WITNESSES ……………………..

2. Assignor