LETTER OF GUARANTEE

Place:

Date: X

HDFC Bank Ltd

Dear Sirs,

In consideration of your having at my request and upon the terms hereof, that I give this guarantee, sanctioned, in
principle, a loan of Rs. (hereinafter referred to as ‘the Loan’) to Shri

X
(hereinafter referred to as the ‘Borrower/s’ which expression shall unless the context otherwise required
include his/their heirs, executors, administrators and permitted assigns) broadly on the terms and conditions
stated in the Letter of Offer duly accepted by the Borrower/s,
AND WHEREAS pursuant to the said Letter of Offer you have agreed to enter into a Loan Agreement as per
the draft thereof herewith annexed, which I have perused and the terms and conditions whereof are known to
me, AND IN CONSIDERATION of your having at the request of the Borrower/s and my request and upon
the terms and stipulations that I give this guarantee to you, agreed to disburse, lend and advance to the
Borrower/s of the Loan.

(1) I DO HEREBY GUARANTEE that the Borrower/s, jointly and severally, shall duly and punctually
observe and perform each and every one of the obligations, to pay money, whether for or towards
principal, interest, additional interest, commitment charge, extra charges on arrears, service charges,
 redemption premium, costs or otherwise howsoever on their part contained in the said Loan
Agreement and also in any instrument (s) that may hereafter be executed by him/them in your favour
modifying the terms and the said Loan Agreement, AND I DO HEREBY AGREE AND
UNDERTAKE THAT in the event of the default on his/their part or on the part of any one of them in
making payments in discharge of any of such obligations, I shall forthwith upon your notifying such
default to me in writing, at the address or email ID given as under and such notification to be conclusive
and binding on me as to such default, make payment to you not only of the total amount outstanding by
the Borrower(s) but also in the event of your having accelerated the payment of the balance of the Loan,
make payment to you of the entire Loan without demur or protest myself notwithstanding any
protestations from the Borrower/s.

(2) I hereby accord my consent to the terms of the said Loan Agreement and/or any instrument (s) that
may hereafter be executed by the Borrower/s in your favour as aforesaid, being by mutual consent
between you and him/them in any respect varied or modified without requiring my consent or
approval thereto and I agree that my liability under this Guarantee shall in no manner be affected by
such variations and modifications and I expressly give up all my rights as surety under the provisions
of the Indian Contract Act, 1872 in that behalf.

(3) You shall have the fullest liberty without in any way affecting this Guarantee and discharging me
from my liability thereunder to postpone for any time or from time to time the exercise of any power
or powers reserved to or conferred on you by the said Loan Agreement or any instrument or
instruments that may hereafter be executed by the Borrower/s in your favour and to exercise the same
at any time and in any manner and either to enforce or forbear to enforce payment of principal or
interest or other monies due to you by the Borrower/s or any of the remedies or securities available
to you or to grant any indulgence or facility to the Borrower/s AND I SHALL not be released by any
exercise by you of your liberty with reference to the matters aforesaid or any of them or by reason of
time being given to the Borrower/s or of any other forbearance, act or omission on your part of any
other indulgence by you to the Borrower/s or by any other matter or thing whatsoever which under
the law relating to sureties would but for this provision have the effect of so releasing me AND I
hereby waive all suretyship and other rights which I might otherwise be entitled to enforce or which
but for this provision have the effect of releasing me.

(4) This Guarantee shall be enforceable against me not withstanding that the securities (if any) that may
be comprised in any instrument (s) that may be executed by the Borrower/s or any other person/s in
your favour shall be at the time when proceedings are taken against me hereunder be outstanding, or
unrealised.

(5) In order to give effect to this Guarantee, you shall be entitled to act as if I was the principal debtor to
you for all payments guaranteed by me as aforesaid. I further understand and agree that, HDFC Bank
shall be entitled to declare and treat me as a “willful defaulter” in case I refuse to honour the claim
(s) made by HDFC Bank on account of the Principal Debtor’s default, in terms of the extant applicable
regulations in respect of this Letter of Guarantee.
(6) Without prejudice to what is stated in any other clause herein and without in any way whatsoever
limiting or restricting the scope and the operation of the Guarantee herein contained or the liability
therefrom arising and keeping this Guarantee and all the obligations and liabilities thereunder in full
force and effect, I, in particular agree, assure and undertake that the Borrower/s shall in terms of the
said Loan Agreement and/or any other instruments or documents executed hereafter pay you every
month during the period of the Loan the amount of the Pre Equated Monthly Instalments (“PEMII”),
Equated Monthly Instalment (“EMI”) as well as any other charges, fees, levies ,etc., failing which, I
shall make good the default by full payment of the PEMII, the EMI as well as any other charges, fees,
levies, etc., within seven days of the due date. I undertake the obligation to verify whether Borrower/s
has/have paid the PEMII, the EMI and / or any other charges, fees, levies, etc., and in case of his/her
default, pay the total outstanding amount myself. Notwithstanding anything to the contrary contained
herein, in the event of any notice of demand being issued by you to me (which shall be final, binding
and conclusive on the Borrower/s and me), I shall forthwith, without any demur, protest or objection
and notwithstanding any protestations from the Borrower/s, pay the amount mentioned therein,
without your being required to obtain any consent or confirmation from the Borrower/s. I confirm
that it shall be my obligation to ascertain the amount/s of the EMI and / or any other charges, fees,
levies, etc.

(7) This Guarantee is a continuing one and shall be binding on me, my heirs, administrators, assigns and
successors for all amount of principal of the Loan that may be advanced by you to the Borrower/s
under the said Loan Agreement and/or any instrument or instruments that may hereafter be executed
by him/them in your favour or with you as also for all interest, additional interest, commitment
charges, extra charges of arrears, service charges, costs and other moneys which may from time to
time become due and remain unpaid to you by the Borrower/s thereunder and shall remain in force
until all such money shall be paid off in full with interest, cost and other moneys. Notwithstanding
anything contained herein my maximum liability towards the principal amount of the Loan together
with interest, additional interest, commitment charges, extra charges on arrears, service charges,
redemption premium, costs or otherwise whomsoever under this Guarantee shall not exceed one and
a half times the Loan.

(8) The benefit of this Guarantee shall enure for the benefit of your successors and assigns and shall be
irrevocable until the discharge by me of all my obligations thereunder.

(9) This Guarantee shall not be affected nor shall this Guarantee be in anyway prejudiced by absorption
or by your amalgamation with any company, corporation or concern but shall be available for and to
the absorbing or amalgamated company, corporation or concern.

(10) I assure you that I am under no disability to give you this Guarantee and to undertake to you the
repayment and pecuniary obligations of the Borrower/s as set out in the said Loan Agreement.

(11) I agree and acknowledge that this Guarantee shall ipso facto come into force and become valid and
binding on me immediately upon the Loan Agreement being executed between the Borrower/s and
you without requiring any further consent or confirmation from me.
 (12) I shall not have a right, in any manner whatsoever to terminate/modify this Guarantee and shall ensure
that the Guarantee herein remains unconditional at all times.

(13) You shall have the fullest liberty without in any way affecting this Guarantee and discharging me
from my liability thereunder to increase or decrease the Loan and/or vary the rate of interest and/ or
the amount of the EMIs and/or the number of EMIs and/or repayment term of the Loan and/ or permit
the Borrower/s to transfer the Loan from one property to another without any reference or needing
prior consent from me. However, as indicated in Clause (7) hereinabove my maximum liability under
the Guarantee shall not exceed one and a half times of the Loan.

(14) I understand and agree that if any provision of this Guarantee is determined to be invalid or
unenforceable in whole or in part by any court / tribunal / competent authority, such invalidity or
unenforceability shall attach only to such provision or the applicable part of such provision and the
remaining part of such provision and all other provisions of this Guarantee shall continue to remain
in full force and effect.

(15) I further assure you that I have not given any guarantee to HDFC Bank in respect of any person/s
other than the Borrower/s and I undertake not to give guarantee to HDFC Bank in respect of any
person/s other than the Borrower/s until this guarantee has been cancelled by you and/or discharged
in full by me.

(16) The Guarantor hereby acknowledges and confirms having read, understood and accepted the terms
and conditions contained in the Loan Agreement and is fully aware of the implications thereof.

Signature of the Guarantor

Name of the Guarantor

Date of Birth of the

Guarantor Designation

Employer/Business Name

Office Address

Telephone No. (Office)

Residential Address

Email ID.:

Mobile Number:

Telephone No. (Residence)

Signature of the person verifying

Name of the person verifying

Designation/Profession

Address

Rubber Stamp/Office Seal

ANNEXURE
(Loan Agreement)

B006/7/08/00