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BOND FOR FESTIVAL LOAN

I hereby acknowledge that, subject to the Bye-Laws of the CLW Co-operative Credit Society Ltd. Chittaranjan, I am going to apply a Festival Loan from the said Society.

I undertake to pay interest on this loan or such portion of as may remain unpaid from this date at the rate which is fixed at present or will be fixed by the General meeting from time to time and to repay this loan with interest in 10 (Ten) consecutive monthly installments or in accordance with Bye-laws of the society whenever I shall be called upon to do so.

If I fail to pay interest or any installment of Principal on the due date or dates and if the Board of Directors does not grant extension of time, the whole loan with interest shall become immediately due to be payable at once. I further undertake to pay additional interest on the loan as may be laid down in the bye-laws of the Society or any overdue payment.

I further agree that the loan shall be spent on account of the festival applied for within one month from this date. If the loan is not so utilized I undertake to repay the money with interest or cost if any as may be provided for in the Bye-laws of the Society, or as may be decided by the Board of Directors.

I do hereby authorise the CLW Co-operative Credit Society Ltd. Chittaranjan to demand recovery of the said loan together with interest due on by deduction inconsecutive months from my salary as the case may be through disbursing officer of the office in which I am at present or may in future be employed, in accordance with Sec.58 of West Bengal Co-operative Societies act. 1973 till this loan is finally liquidated.

I further authorise the Society to direct me to pay my dues to the Society whenever I shall be called upon to do so.

If the disbursing officer does not recover the dues of the Society from my pay on any occasion I undertake the responsibility of paying the dues to the Society through the disbursing officer to keep myself bounded by the terms of this bond.

If however, I am required to retire from service before the whole amount of the loan Is fully repaid I do hereby undertake to repay the amount of outstanding loan together with interest from my CMTDS, Savings Deposits, Share Money or retirement Gratuity on demand from the CLW Co-operative Credit Society Ltd. Chittaranjan.

Under the above Conditions I am applying the Festival Loan.