(To be stamped as an Agreement

as per the respective state laws)

Place:
Date:

To,

The Branch Manager,

Bank of India
……………… (Branch)

Sir,

Re: A/c Name: …………………………..

A/c No.: ……………………………….
Unconditional and irrevocable undertaking for
Covid 19 Personal Loan (CPL)
-------------------------------------------------------------------

I/We, Shri/Smt.………aged…….residing at………(Borrowers) have availed

from Bank of India (Bank) credit facilities viz…………………………………………….
to the extent of Rs.................. (hereinafter referred to as the "said credit facilities”) for
the express purpose and upon the basis set out in the Borrower's Loan Application
dated ............... and on the terms and conditions as stated within Bank’s sanction
letter/s and the loan and security documents executed by me/us from time to time for
securing the entire dues under the credit facilities. As on ..............there is a total
outstanding liability of Rs. _________ under the said credit facilities, which the
Borrower hereby acknowledge and confirm.

2. I/We, in consideration of the Bank having granted the aforesaid facilities, to

me/us have inter-alia created mortgage of property being…………. situated at
………….. (details of property to be mentioned) in favour of the Bank vide deed No.
………. dated ……… registered before the SRO vide certificate of registration dated
………………./by deposit of the title deeds of the said property with the Bank
recorded by Memorandum of Deposit of Title Deed--------------. The said mortgage is
still valid and in force and enforceable.

3. I/We had vide application dated……….. (hereinafter referred to as "the

proposal") requested the Bank for personal loan under Covid 19 Personal Loan
(hereinafter referred to as “CPL”) Scheme of Bank to be repayable on demand/as
per the terms and conditions set out in the CPL Scheme and Bank has considered
my/our/ their request and agreed to grant CPL to the extent of Rs. ……………… for
the express purpose and upon the basis set out in the Borrower's Loan Application
dated.............../Bank’s letter of sanction for CPL dated ……………

4. I/We, in consideration of the Bank having, at our request sanctioned to me/us,

the CPL, hereby agree and undertake to the Bank and to its successors, assigns,

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transferees and novatees that the mortgage created by me/us in favour of the Bank
for due repayment of amounts payable under the said credit facilities together with
interest and all other amounts, shall be available to the Bank as security for the due
repayment of the amounts due under the CPL together with interest and other
amounts payable thereunder and shall on request by the Bank execute the security
documents in connection with creation/extension of mortgage in favour of the Bank
to secure the CPL together with interest and other amounts payable thereunder,
within ………days of request by the Bank.

5. I/We hereby irrevocably and unconditionally undertake to complete all the

formalities including any execution of documentation for extension/creation of the
mortgage in favour of the Bank at my/our cost and expenses and shall have no
objection whatsoever in this regard.

6. I/We are aware that Bank is granting this CPL to me/us relying on my/our
above declaration and undertaking. I/We affirm and assure Bank of India that I/We
shall not breach the above undertaking in any circumstances.

7. I/We hereby irrevocably and unconditionally undertake that this facility granted
is as per my/our request as borrower/Guarantor of the existing facilities
of------------------ and shall not affect/disturb the loan and security documents already
executed by me/us including mortgage, hypothecation, pledge, charge etc. over the
securities which shall continue to remain in force and fully enforceable till the entire
dues to the Bank under the said credit facilities, CPL and other dues are paid in full
by me/us.

8. I/We do hereby indemnify and shall keep indemnified and hold the Bank
harmless against all losses, damages, liabilities, claims, actions, costs and expenses
(including Attorney’s fees) in relation to or resulting directly or indirectly from or in
any way arising out of any claim or demand or any suit or proceeding incurred or
suffered by the Bank as a result of violation of this undertaking by me/us. I/We
further agree and undertake to promptly reimburse to the Bank such claim amount
along with interest as may be stipulated by the Bank from the date of claim/loss is
incurred till refund to the Bank and such other amounts as demanded by the Bank
under this Indemnity without any demur or protest within 3 days of demand by the
Bank.

9. I/We hereby agree, confirm and undertake to the Bank and to its successors,
assigns, transferees and novatees that I/we shall:
a) pay the stamp duty, registration charges and such other fees and charges in
connection with the extension/creation of mortgage as above;
b) file necessary documents upon extension/creation of mortgage as above as per
the Applicable Law;
c) not convey and/ or sell and/ or lease and/ or transfer and/ or otherwise dispose of
and/ or encumber all or any part of our said properties except Bank of India.

10. I/We hereby further agree and confirm that -

a) my/our properties which are already mortgaged to the Bank are free from
encumbrances other than those in favour of Bank of India;

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 b) I/we shall give such declarations, undertakings and other writings as may be
required by the Bank and satisfactorily comply with all other requirements of
the Bank from time to time;
c) I/we shall pay all rents, rates, taxes, cesses, fees, revenues, assessments,
duties and other outgoings and pay other amounts due in respect of my/our
respective lands and shall observe and perform all the terms, conditions,
stipulations, rules and regulations pertaining to the same and shall not do or
omit to do or suffer to be done anything whereby the security created/ as
proposed to be created in favour of the Bank is affected or prejudiced in any
manner whatsoever.

11. I/We hereby confirm and acknowledge that my/our obligations under this
undertaking shall not be affected by any act or omission or forbearance or any
variation or any change or reorganization in the structure of the parties, or any other
act, matter or thing which might otherwise reduce, release or prejudice the
obligations under this undertaking.

12. I/We irrevocably agree that Bank shall be within its absolute right to exercise
lien over the title deeds/properties and/or any other amounts/deposits due to me/us,
till the entire dues to the Bank under the said credit facilities, CPL and other dues
and amounts payable are paid in full by me/us.

13. I/We hereby confirm and acknowledge that relying on this undertaking, the
Bank has provided/agreed to provide the CPL to the Borrower and a breach hereof
shall constitute an Event of Default under the terms of the said loan and the said
credit facilities and/or any other loan granted to me/ us and Bank shall be within its
right to initiate suitable action against me/us including recalling all the credit facilities
granted to me/us and initiating legal action.

14. I/We am/ are aware that in case we fail to honour this undertaking, the Bank
shall be entitled to take such actions against me/us as they deem fit.

15. This undertaking shall be irrevocable and shall be valid and remain in full
force and effect till the entire dues under the said credit facilities and the CPL
amount and any other loans granted to me/us and all other amounts are paid by
me/us to the satisfaction of the Bank and the Bank discharges me/us in writing.

16. It shall be my /our obligation to pay the stamp duty, all other charges and
expenses on this agreement.

Executed on this…………day of …………………….2021

Borrower/s/ Mortgagor
Signature

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I/We, as guarantors for the due repayment of the entire amounts due under the said
credit facilities and also the CPL granted to the Borrower/s, hereby irrevocably and
unconditionally undertake and agree to the above and join execution of this
undertaking.

Guarantor/s
Signature

NAME:------------------------------------------
ADDRESS:- --------------------------------
MOBIL NO:-------------------------------
(All necessary signatures/stamps of the borrowers/Property owners to be taken and
kept in record. This is a sample undertaking specifically for Covid 19 Personal Loan,
branches may add as per their requirement depending on the type/place of loan etc.)

Note: All loan documents as applicable for this loan to be taken in addition.

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