(Suggested form of Collateral Bond.)

FORM KK

Prepared by me

……………………………………………

CONVEYANCER

……………………………………………

(State full name and surname in block letters)

.........................................

(Disclose Legal Practice Council Membership Number)

COLLATERAL MORTGAGE BOND

Be it hereby made known:

That.....................................................appeared before me the ....................................................... at …………………………………. he the said appearer being duly authorised thereto by a power of attorney granted to him by ……………………………… dated ………………………… and signed at ………………………………. and the said appearer declared that;

Whereas his principal the said ……………… is truly and lawfully indebted to …………………………… (hereinafter styled the mortgagee) in the sum of ………………….. arising from and being …………………………as security for which indebtedness Mortgage Bond No. ………………………….. (hereinafter called the principal bond) was registered in the Deeds Registry at ………………………………….. on the ………………………. over the property thereby specially hypothecated;

And whereas the said mortgagee requires the indebtedness of the appearer's principal under the principal bond to be further secured by the hypothecation of the undermentioned property as collateral security therefor;

Now, therefore, the appearer, renouncing all benefits arising from the legal exceptions ................................................... with the full force and effect of which he declared his said principal to be fully acquainted, did by these presents declare and acknowledge his said principal to be held and firmly bound unto and on behalf of the said………………………… his order assigns in the aforesaid sum of …………………………….. together with the sum a preferent charge for costs and other matters as more fully set out in the principal bond, and as collateral security for the due and proper repayment of the aforesaid . sums with interest on the said capital sum and for the due and proper fulfilment of all the terms and conditions mentioned or referred to in the principal bond as well as all his said principal's obligations thereunder, the appearer on behalf of his said principal hereby declared to bind specially as a …………………………. mortgage (here describe the-property).

And the appearer further declared that this Collateral Bond shall be subject to all the terms and conditions set out in the principal bond as fully and effectually as if the same had been inserted herein and to the special condition that upon payment and discharge of all obligations under the principal bond this bond shall be null and void bat shall otherwise be and remain in full force, virtue and effect.

In witness whereof I, the said Registrar, together with the appearer, have subscribed to these presents, and have caused the seal of office to be affixed thereto.

Thus done and executed at the Office of the ………………………… at ...................................... on this …………………….. day of ……………………………….. in the year of Our Lord, One thousand Nine hundred and ………………………………………….

……………………………………………….

Signature of appearer

In my presence:

……………………………………………….

Registrar of Deeds

(Rand Townships Registrar)

(Add a registration clause approved by the Registrar.)

[Footnote inserted by section 4(e) of Notice No. R.884, GG43614, dated 14 August 2020]

[Form KK substituted by section 4(a) of Notice No. R.884, GG43614, dated 14 August 2020]