Bond of Undertaking cum Indemnity

This Indemnity and Undertaking is being executed at PANVEL on this12th the day of May 2023 by Mr
Vasant Chandrakant Lendhe s/o of Chandrakant Lendhe aged about 48 yrs, resident of At Ransai , Post
Chirner , Tal Uran , Dighode Raigad, Maharashtra, 410206 (hereinafter referred to as “Borrower” which
expression shall unless the context otherwise requires, includes its successors and assigns)

in favour of:

Housing Development Finance Corporation Limited a company incorporated under the Companies Act,
1956 having its registered office at Ramon House, H. T. Parekh Marg, Churchgate, Mumbai – 400 020 and
branch office at PANVEL (hereinafter called “HDFC” which expression shall unless the context requires
includes his/her heirs, executors, administrators and permitted assigns).

WHEREAS:

A. That the Borrower has approached HDFC for availing financial assistance for the purposes of
purchase of the property being [insert address of property under acquisition] (hereinafter referred to
as “the Property”);

B. That at the instance of the Borrower, HDFC has sanctioned a Loan of Rs 23,50,000/- _to the
Borrower for acquisition of the said Property and construction/modification thereon (to the extent as
may be applicable) vide Loan Account No. 687904728

C. That the Borrower has requested HDFC to disburse the Loan for the intended acquisition of the
Property;

D. That HDFC has agreed to extend the loan at the request of the Borrower on a specific
understanding that the Borrower shall be liable to indemnify any direct/indirect/consequential
loss/damage caused to HDFC on account of any misutilisation of the loan for purposes other than
what has been disclosed to HDFC or in violation of the terms of the Prevention of Money
Laundering Act, 2002 and accordingly the Borrower shall in addition to execution of the Loan
Agreement furnish the undertaking cum indemnity bond to this effect in the manner as specifically
detailed hereunder
NOW THEREFORE THE BORROWER HEREBY AGREES, UNDERTAKES AND INDEMNIFIES AS
FOLLOWS: -

1. That the foregoing recitals stated as WHEREAS – A to D hereinabove are incorporated herein by
this reference and constitute an integral part of this Bond of Undertaking cum Indemnity.

2. That the Borrower declares and undertakes that the Borrower’s own equity contribution ( i.e the
difference between the acquisition cost and the Loan Amount) is/ shall be from legal sources and
not from revenue resources that are tainted in any manner or in violation of the provisions of the
prevention of Money Laundering Act, 2002.

3. That the Borrower undertakes that the Loan made available by HDFC to the Borrower is for the
sole intended purpose of purchase of the Property and construction/modification thereon (to the
extent as may be applicable) and for no other utility or usage, accordingly the entire loan amount
shall be utilised only towards the acquisition of the Property, construction/modification thereon (to
the extent as may be applicable) and related charges/fees that are payable by an acquirer in the
ordinary course. The Borrower as such further undertakes that the Loan or any part thereof shall
not be utilized for any other purposes other than what is stated hereinabove.

4. That the Borrower undertakes that the loan shall at no point in time be utilized either directly or
indirectly for any purpose which is illegal in nature and as such the utilisation of loan and proceeds
therefrom shall in no manner whatsoever be in violation of the provisions of the Prevention of
Money Laundering Act, 2002. The Borrower specifically declares and undertakes that the Property
is not subject matter of tainted sources of revenue in any manner whatsoever.

5. That the Parties agree that the fact of HDFC extending the loan to the Borrower does not in any
manner amount to and/or would amount to ratification of any action or in action on part of the
Borrower.

6. That the Borrower hereby declares and undertakes to indemnify and keep HDFC or its duly
constituted attorneys / assigns fully indemnified, saved and harmless of, from or against any
direct/indirect/consequential loss, damage or risk that might arise and / or incurred to and/ or by
HDFC or its duly constituted attorneys / assigns, on account of any issue and/or non compliance
whatsoever in relation to the Loan provided by HDFC for the acquisition of the Property by the
Borrower.
 7. The Borrower unconditionally and irrevocably undertakes and agrees that the loss as determined
and quantified and notified by HDFC shall be final, conclusive and binding on the Borrower.

8. The Borrower makes the above declarations and statements and gives the aforesaid undertaking –
cum - Indemnity solemnly and sincerely believing the same to be true and knowing fully well that
on the faith and strength thereof, HDFC has agreed to give the said financial assistance.

In witness whereof the Indemnifier

Mr. Vasant Chandrakant Lendhe

S/o Chandrakant Lendhe

Resident of At Ransai , Post Chirner , Tal Uran , Dighode Raigad, Maharashtra, 410206

has signed and delivered this Undertaking cum Indemnity

bond on 12th day of May 2023