Deed Of Guarantee

Updated at:March 2010
 
FREE EXCERPT

THIS DEED OF GUARANTEE executed on the day of

Two Thousand:

B Y :

(hereinafter referred to as the "FIRST

PARTY", which expression shall, wherever the

context so requires or admits, mean and

include, his heirs, executors, administrators

and assigns).

IN FAVOUR OF :

(hereinafter referred to as the "SECOND

PARTY", which expression shall, wherever the

context so requires or admits, mean and

include, its successors-in-title and assigns)

WITNESSES AS FOLLOWS:

  1. WHEREAS by an Agreement dated . .2000, the Second Party

    has arrived at an arrangement to contribute its effort

    and economic strength in the development being done by

    M/s._____________________________________________________________

    of the Property bearing No._______________________________________

    __________________________, in terms set out therein;

  2. WHEREAS a copy of the said Agreement is hereto annexed and

    marked as Annexure 'A';

  3. WHEREAS the First Party is one of the Partners/Directors

    of ___________________________________ and apart from the

    assurances given by M/s._______________________________________

    the First Party herein has agreed to personally guarantee the

    performance and returns estimated of M/s.____________________

    ___________________________ under the said Agreement, failing

    which the First Party will make good the amounts guaranteed

    hereunder and the Parties hereto are desirous of recording the

    terms of the guarantee;

  4. NOW THIS DEED OF GUARANTEE WITNESSES AS FOLLOWS:

    (1) In the premises aforesaid and at the request of the Second

    Party, the First Party hereby agrees with and guarantees the

    Second Party the payment assured to the Second Party under the

    Agreement dated . .2000 by M/s._______________________________

    and in the event of the Second Party not receiving the amounts in

    terms of the Agreement dated . .2000, irrespective of any

    reasons from M/s.______________________________________________

    the First Party Mr.________________________ hereby irrevocably

    and unconditionally agrees and covenants to pay to the Second

    Party the amounts to be received by the Second Party in terms of

    the annexed Agreement or any part or parts thereof with interest

    thereon as aforesaid and as set out in the Agreement dated

    _____ 2000 between the Second Party and M/s.___________________

    upon demand in that behalf being made by the Second Party;

    (2) The First Party further agrees as follows:-

    (a) A notice of demand issued by the Second Party or on its

    behalf stating that any of the sums...

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