Agreernen~ ro bc cxecuted by applicant

When the applicantion for a loan has bccn sanctioned the applicant shall execute a bond in the prescribed form undeaakirtg ta apply the money to the purpose or purposes for which, and to fulfil the conditions on which, the loan is and shall undenake that if it is not used for sucll purposes or if there is any breach of such condilions. the amount of the loan shall be rccoverable from him in the prescribed manner..