LETTER OF UNDERTAKING/ASSURENCE

Date:

Whereas, Mr./Mrs. Has/Had

applied/obtained the housing/car/term loan from State Bank of India, Br.
Kolhapur (hereinafter referred as “bank”) and whereas, I/We, Mr./Mrs.
And Mr. Age.
respectively have stood as a guarantor(s) for the said loan of said borrower in the
bank vides the guarantee agreement dated / / , I/We hereby
declare and assure the bank vides this letter that, In case of default in repayment
of the said loan by the above mentioned borrower, if the bank prefers to charge,
attach and sale any property belonging to me which has been tendered as a
security for the said loan, then I/We shall not raise any objection, agitation,
resistance in whatsoever manner for the said action of the bank. Even in the
given case if the bank prefers to charge, attach and sale my/our property (ies) in
lieu of/ instead of / in absence of the property(ies) belonging to the principle
borrower for satisfactions of its outstanding dues then also I/We shall have no
objection, agitation and resistance for the said action of the bank.
Hence given the Letter of Undertaking/Assurance today at
Kolhapur.

Guarantor (s)

Before Me

Chief/Branch Manager