And
Abhraham Thomas Mullesseril (PAN : AAPPA5673C)
Residing at : Plot no 13B, in front Badgujar Boarding,           Joint Owner & Developer
Bhushan Colony, Jalgaon-425001.
hereinafter called “the Developers” (which expression shall unless repugnant to the
context or meaning thereof mean and include survivors or survivor of them and the
heirs, executors, administrators of such survivor, their, his or her assigns) of the Second
Part
WHEREAS the Vendor are Jointly seized and possessed and sufficiently entitled to all
those pieces or parcels of Plot No. 8, admeasuring about 350.00 sq. meters, situated at
Mehrun Shivar, C S No.188/1A+1B, Taluka & District Jalgaon, along with the developer
and more particularly described in the Schedule hereunder written and (which property
shall hereinafter for brevity’s sake be referred to as ‘the property’)
AND WHEREAS the Developer herein have approached the Vendor with an intention to
develop the said property from the Vendor and pursuant to the negotiations by and
between the parties hereto and subject to the necessary approval being granted by the
Competent which approval/sanction is agreed to be persuaded by the Developer at
their own costs and expenses and also subject to the plan of the proposed development
being sanctioned by the Municipal Corporation of Jalgaon, which responsibility is agreed
to be shouldered by the Developers herein as a result of which hereof the Vendors are
desirous of appointing the Developer as developer of the said property more
particularly described in the Schedule hereunder written for the consideration and upon
the terms and conditions hereinafter appearing:

NOW THESE PRESENTS WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE
PARTIES HERETO AS FOLLOWS:


   (1) The Vendor do hereby nominate, constitute and appoint the Developer to
           develop the said property at their own cost more particularly described in
           the First Schedule hereunder written by constructing building thereon as per
           the plans/specifications to be approved and/or sanctioned by the Jalgaon
           Municipal Corporation and the Competent Authority for a consideration of
           50% revenue share in total sale proceeds.
(2) It is agreed and understood that the Vendor shall not in any way obstruct the
       development work to be carried out by the Developers and shall not do any
       act, matter or thing whereby the Developer will be prevented from carrying
       out the Development work envisaged under this Agreement.


(3) The Developers shall at their own cost make necessary arrangement for
       construction of the buildings on the said land in accordance with the scheme,
       which may be approved by the Competent Authority or State Government
       under the provisions of the said Act


(4) The Developers shall be entitled to enter into usual Agreement for sale of
       flats/shops/ garages/office premises with various intending buyers, on what
       is known as ownership basis, on such terms and conditions and at such price
       as the Developers may think fit and proper: PROVIDED, however, the
       Developers shall not part with possession of the flats, shops, garages, units,
       etc. in the building that will be constructed by him in pursuance of this
       Agreement unless and until the entire amount payable to the Vendor as per
       is paid by the Developers to the Vendors.


(5) The Vendors hereby declare that:


       (a)The said property is equivalent to freehold and is not held under any
       agreement;


       (b) There are no outstanding encumbrances, mortgages, liens (notice for
       acquisitions, requisitions or set back) easements, rights of tenants or
       outstanding interest or claim by any parties other than the Vendors nor is the
       said property subject-matter of any pending suit or attachment either before
       or after judgement. No notification is issued under any Ordinance, Act,
       statute/rules or regulations affecting the said property;


       (c) The Vendor further declare that neither the Vendor nor his/their
       predecessors-in-title nor any body claiming from/or under them or any of
them have or have granted any right of way or easement or other rights to
any person over the said property;


(7) It is agreed that the Vendor and all other necessary parties shall execute
the Deed of Conveyance and/or all other writings in favour of such person/s
as the Developer may direct and in the event of Conveyance/s be given in
favour of the Nominee/s of the Developer or a proposed co-operative
housing society. The Developer shall also join as a Confirming Party to the
said Conveyance.


(8) The Vendors will ensure that at the time when the Developer are allowed
       to enter upon the said piece of land described in the Schedule
       hereunder written, the said piece of land is absolutely vacant and
       nobody is in occupation of the same.


(9) The Vendors hereby agree and confirm that the Developers shall be
       entitled to transfer the benefit and burden of this Agreement subject
       to the terms and conditions mentioned herein either as a whole or in
       part to one or more parties and that the Vendors shall have no
       objection to the same and the terms and conditions of this agreement
       shall remain binding over such transferees.


(10)   It is agreed that the Developer shall carry out the work of
       development in their own name and shall not cause or cause to be
       done any deed or matter or thing whereby the Vendors are put to
       loss and have to discharge any liability. It is expressly agreed that the
       agreement which the Developers may enter into with any person in
       connection with the development scheme or for sale of flats, etc.
       shall be entered into only in the name of the Developers on principal
       to principal basis and not as agents of the Vendors herein.
(11)   The Developers agree to pay Municipal, betterment charges, T.P.
       charges, water charges, electricity charges, fines and penalties arising
       as a result of change in the user of the said land.


(12)   The Vendor declare that the land, hereditaments and premises
       hereby agreed to be developed and conveyed are not subject to the
       easement or rights in the nature of easement.


(13)   From the date of the possession, the Developers shall be entitled to
       commence the construction of the new building at their own costs
       and responsibility and also enter into the agreement for sale of
       units/flats, etc., herein at their entire responsibility on what is known
       as ownership basis’.


(14)   The Vendor hereby authorize the Developers to sign and execute
       applications, writings, undertakings for amalgamation, layout,
       sub-division, building plans and other assurances and submit the
       same to the Municipal and Public authorities and to obtain
       commencement certificate, etc. for and transfer Permission for the
       purpose of and for the development of the said property and also to
       appoint the Architect at Developers’ costs and expenses. It is also
       agreed that all the costs, charges and expenses incurred in pursuance
       of this clause save and except as provided otherwise in this
       Agreement shall be borne and paid by the Developers alone
       irrespective of the fact whether the transaction goes through or not.


(15)   The Developers shall indemnify and keep indemnified the Vendors
       from and against all actions, claims, demands, proceedings, fines,
       penalties and all costs, expenses and damages incurred or suffered by
       the Vendors in the course of such development.