Common use of Borrower’s Warranty, Declaration & Undertaking Clause in Contracts

Borrower’s Warranty, Declaration & Undertaking. a. The Borrower undertakes to utilize the loan only for the purpose stipulated in the sanction letter. b. The Borrower undertakes to construct the house/flat/apartment strictly as per the plan approved by local authority. c. The Borrower declares and confirms that the amount of the loan or the balance then outstanding shall become payable at once in case of Xxxxxxxx‟s death or death of anyone of the Borrower. In case of death, the Bank, may at its discretion, continue the loan provided sufficient collateral is furnished by the legal heirs of deceased Xxxxxxxx/surviving Borrower(s) or some satisfactory arrangement for repayment acceptable to the Bank has been made by legal heirs of deceased Xxxxxxxx/surviving borrower(s). d. The Borrower declares and confirms that on the retirement of the Borrower or any one of the Borrower the Bank may in its absolute discretion recall the entire outstanding amount of the loan sanctioned to the Borrower at once. The Bank may, at its discretion, continue the loan provided satisfactory arrangement for repayment, acceptable to the Bank has been made by the Borrower. e. In the event of cessation of Xxxxxxxx‟s business/service with his/her present employers by way of resignation by the Borrower or any one of the Borrowers or otherwise (except as a result of death or retirement), the Borrower undertakes to repay to the Bank forthwith on demand the amount then outstanding in the loan account. f. The Borrower shall maintain the flat/ house in good tenantable repair and condition at his/ her cost at all times so long as the Borrower is indebted to the Bank and that the Borrower shall

Borrower’s Warranty, Declaration & Undertaking. a. The Borrower undertakes to utilize the loan only for the purpose stipulated in the sanction letter. b. The Borrower undertakes to construct furnish copy of necessary receipts, proof of delivery, bills, invoices etc. to the house/flat/apartment strictly as per Bank within one week from the plan approved by local authoritydate of disbursement. c. The Borrower declares and confirms that the amount of the loan or the balance then outstanding shall become payable at once in case of Xxxxxxxx‟s death or death of anyone of the Borrower. In case of death, the Bank, may at its discretion, continue the loan provided sufficient collateral is furnished by the legal heirs of deceased Xxxxxxxx/surviving Borrower(s) or some satisfactory arrangement for repayment acceptable to the Bank has been made by legal heirs of deceased Xxxxxxxx/surviving borrower(s). d. The Borrower declares and confirms that on the retirement of the Borrower or any one of the Borrower the Bank may in its absolute discretion recall the entire outstanding amount of the loan sanctioned to the Borrower at once. The Bank may, at its discretion, continue the loan provided satisfactory arrangement for repayment, acceptable to the Bank has been made by the Borrower. e. In the event of cessation of Xxxxxxxx‟s business/service with his/her present employers by way of resignation by the Borrower or any one of the Borrowers or otherwise (except as a result of death or retirement), the Borrower undertakes to repay to the Bank forthwith on demand the amount then outstanding in the loan account. f. The Borrower shall maintain the flat/ house household articles viz electronic items, computer, modular kitchen, furniture etc., in good tenantable repair and condition at his/ her cost at all times so long as the Borrower is indebted to the Bank and that the Borrower shallshall not part away with the said items hypothecated to the Bank without appropriate cause and only under intimation the Bank. g. The Bank shall be at liberty to inspect the household articles viz electronic items, computer, modular kitchen, furniture etc. hypothecated to the Bank at any reasonable hours of the day and

Borrower’s Warranty, Declaration & Undertaking. a. The Borrower undertakes to utilize the loan only for the purpose stipulated in the sanction letter. b. The Borrower undertakes to construct furnish copy of necessary receipts, proof of delivery, bills, invoices etc. to the house/flat/apartment strictly as per Bank within one week from the plan approved by local authoritydate of disbursement. c. The Borrower declares and confirms that the amount of the loan or the balance then outstanding shall become payable at once in case of Xxxxxxxx‟s Borrower‟s death or death of anyone of the Borrower. In case of death, the Bank, may at its discretion, continue the loan provided sufficient collateral is furnished by the legal heirs of deceased XxxxxxxxBorrower/surviving Borrower(s) or some satisfactory arrangement for repayment acceptable to the Bank has been made by legal heirs of deceased XxxxxxxxBorrower/surviving borrower(s). d. The Borrower declares and confirms that on the retirement of the Borrower or any one of the Borrower the Bank may in its absolute discretion recall the entire outstanding amount of the loan sanctioned to the Borrower at once. The Bank may, at its discretion, continue the loan provided satisfactory arrangement for repayment, acceptable to the Bank has been made by the Borrower. e. In the event of cessation of Xxxxxxxx‟s Borrower‟s business/service with his/her present employers by way of resignation by the Borrower or any one of the Borrowers or otherwise (except as a result of death or retirement), the Borrower undertakes to repay to the Bank forthwith on demand the amount then outstanding in the loan account. f. The Borrower shall maintain the flat/ house household articles viz electronic items, computer, modular kitchen, furniture etc., in good tenantable repair and condition at his/ her cost at all times so long as the Borrower is indebted to the Bank and that the Borrower shallshall not part away with the said items hypothecated to the Bank without appropriate cause and only under intimation the Bank. g. The Bank shall be at liberty to inspect the household articles viz electronic items, computer, modular kitchen, furniture etc. hypothecated to the Bank at any reasonable hours of the day and

Borrower’s Warranty, Declaration & Undertaking. a. The Borrower undertakes to utilize the loan only for the purpose stipulated in the sanction letter. b. The Borrower undertakes to construct the house/flat/apartment strictly as per the plan approved by local authority. c. The Borrower declares and confirms that the amount of the loan or the balance then outstanding shall become payable at once in case of Xxxxxxxx‟s Borrower‟s death or death of anyone of the Borrower. In case of death, the Bank, may at its discretion, continue the loan provided sufficient collateral is furnished by the legal heirs of deceased XxxxxxxxBorrower/surviving Borrower(s) or some satisfactory arrangement for repayment acceptable to the Bank has been made by legal heirs of deceased XxxxxxxxBorrower/surviving borrower(s). d. The Borrower declares and confirms that on the retirement of the Borrower or any one of the Borrower the Bank may in its absolute discretion recall the entire outstanding amount of the loan sanctioned to the Borrower at once. The Bank may, at its discretion, continue the loan provided satisfactory arrangement for repayment, acceptable to the Bank has been made by the Borrower. e. In the event of cessation of Xxxxxxxx‟s Borrower‟s business/service with his/her present employers by way of resignation by the Borrower or any one of the Borrowers or otherwise (except as a result of death or retirement), the Borrower undertakes to repay to the Bank forthwith on demand the amount then outstanding in the loan account. f. The Borrower shall maintain the flat/ house in good tenantable repair and condition at his/ her cost at all times so long as the Borrower is indebted to the Bank and that the Borrower shall