Form GFR - 22Loan Agreement • April 9th, 2014
expression shall include his heirs, administrators, executors & legal representatives of the one part and the President of India (hereinafter called the President, which expression shall include his successors and assigners of the other part. Whereas the Borrower has under the provisions of the General Financial Rules, 1963 (hereinafter referred to as the said rules which expression shall include any amendments thereof for the time being in force) applied to the President for a loan of Rs.....................for the purchase of a motor vehicle/personal Computer and whereas the President has agreed to lend the said amount to the Borrower on the terms and conditions hereinafter contained NOW IT IS HEREBY AGREED between the parties hereto that in consideration of the sum of Rs............. to be paid by the President to the borrower ,the Borrower hereby agrees with the President (1) to pay the President the said amount with the interest calculated according to the said rules and hereby au