1 AGREEMENT OF SALE Agreement of sale of Flat/Shop No. ___ admeasuring _________ Sq.Mt. in “ADINATH SANKUL” Constructed on Plot No. 19, 20 & 21 totally admeasuring 863.99 Sq.Mt., Situated at Garkheda, Tq. Dist. Aurangabad, the stamp, value of Rs.__________/- and actual sale value Rs._________/- Zone. _______ @ __________ /- Per Sq.Mt. This agreement to sale is executed today on ___ day of ____ 20__ at Aurangabad, between, M/s. Adinath Developers, A partnership firm registered under Indian Partnership Act 1932 having Reg. no. AU00000016 dated 12/03/2013 and having its principal place of business at 2nd Floor, R.K. Tower, Shivaji Nagar Road, Garkheda Aurangabad, (PAN NO. ABEFA7170N) Through its Partner 1. Mr. Atul Sureshchand Kasliwal, Age.: 41 years, occ.: Business, R/o.: Plot No. 7, Mitra Nagar, Garkheda, Aurangabad. (PAN NO.AOIPK4965Q) (AADHAR no. 4971-8961-5789). 2. Mr. Shailesh Zumbarlal Rawka, Age.: 41 years, occ.: Business, R/o.: A-2, Kalsliwal Estate, Deshmukh Nagar, Garkheda, Aurangabad. (PAN NO AGHPR7535G) (AADHAR NO. 9604-0923-6594). 3. Mr. Anand Vijaykumar Patni, Age.: 37 years, occ.: Business, R/o.: Aman Krupa, Arihant Nagar, Aurangabad. (PAN NO AJQPP3745C) (AADHAR NO. 8212-6033-5272). (Hereinafter called the Owner/Vendor which expression shall mean and include all its present and future partners, their heirs, successors, legal representatives, executors, administrators and assignees) AND Mr. Age : __ Years, Occ.:- R/o.: PAN. Aadhar no. 2 (Hereinafter called as ALLOTTEE/PURCHASER which expression shall mean and include all her heirs, successors, legal representatives, executors, administrators and assignees) WHEREAS :- I. That the property Plot No. 19 admeasuring 270.16 forming part of Land Survey No. 51/4 and Plot No. 20 admeasuring 280.94 Sq.Mt. and Plot No. 21 admeasuring 312.89 Sq.Mt., forming Part of Land Survey No. 51/2/A totally admeasuring 863.99 Sq.Mt., situated at Garkheda Tq. Dist. Aurangabad owned and possessed by Vendor and they purchased same under registered sale deed bearing registration no. 4811/2012 dated 13.07.2012, 2404/2012 dated 05.07.2012 and 2087/2012 dated 04.04.2012 registered at the office of Sub-registrar Aurangabad and on the basis of registered sale deed their name came to be recorded in revenue record as owner and possessor vide mutation entry no. 3083, 3038 & 3039. II. That the previous owner i.e. Anil Govindrao Nirantar, Yashwant Gopalrao Nirantar, Shirish Gopalrao Nirantar and Sunil Gopalrao Nirantar with intent to develop their property prepared layout and got tentative layout from Assistant Director of Town Planning, Aurangabad in file no, LYT/AGD/7/__ dated 26.06.1980 and final Sanction Layout _______________ dated _________thereby converted said property into various plots also obtained NA permission in file no. RB/DESK-2/LND-1/NAP/CR-___ dated 28.09.1986. III. That Owner/Vendor filed an application to Aurangabad Municipal Corporation for amalgamation of Plot No. 20 admeasuring 280.94 Sq.Mt. and Plot No. 21 admeasuring 312.89 Sq.Mt., forming Part of Land Survey No. 51/2/A totally admeasuring 863.99 Sq.Mt., situated at Garkheda Tq. Dist. Aurangabad accordingly Aurangabad Municipal Corporation in file no. MANAPA/NRV/SASANAR/2021/1157 dated 26.04.2021 amalgamated Plot No. 19, 20 & 21 totally admeasuring 863.99 Sq.Mt. 3 IV. That Owner/Vendor with intent to develop their property obtained construction permission from AMC, vide construction permission no. 77/2020-21 in file no. 155/17/2017-18 dated 28.04.2021 and commenced construction as per permission granted by Aurangabad Municipal Corporation. V. That Declaration U/Sec.2-a of Maharashtra Apartment Ownership Act 1970 is executed and registered at Sr. No. ______/2021 dated _______ at the Office of Sub-Registrar Aurangabad; thereby the Proposed Flat/Shop building “Adinath Sankul” is submitted to the provisions of Maharashtra Apartment Ownership Act 1970. Copy of INDEX-II enclosed here with as Annexure-_____. VI. That the residential cum commercial Building Flat/Shop being constructed on the property described in Schedule-A, will be known as “ADINATH SANKUL” apartment and in no case the said name will be changed, in this project consist 18 Flats and 04 Shops, after revised construction permission 12 Flats will be added. The said building at present consist 3 floors such as First Floor, Second Floor and Third Floor and after revise permission two floors will be added such as Fourth and Fifth. VII. That the property Plot No. 19, 20 & 21 totally admeasuring 863.99 Sq.Mt. situated at Garkheda, Aurangabad, as per the Zone Certificate dated ____________, issued by Assistant Director of Town Planning Aurangabad vide Part Plan no. ____________ sanctioned by ____________________________________________ vide Letter no. _________________ dated __________ came in to effect from _________, have been shown in Residential Zone. VIII. The Owner/Vendor obtained necessary permissions by various Govt. departments for development of the said Property and construction of the said Building; IX. That the copy of 7/12 Extract of Survey no, 51/2/A and 51/4 in respect of the said Property annexed herewith as ANNEXURE-A. Title Report (which showing the title flow and encumbrances if any, to or upon the said Property) in respect of the said Property issued by Advocate Mr. P D Kulkarni competent to issue the same has been annexed herewith, as ANNEXURE-B. Search Report and Title Opinion has been handed over separately to the 4 Allottee/Purchaser herein and the same shall be read with this Agreement; X. The Aurangabad Municipal Corporation Aurangabad, being also Planning Authority, under the Maharashtra Regional and Town Planning Act, 1966, has sanctioned the building plan. The relevant copies of the Commencement Certificate is annexed herewith and marked as ANNEXURE-C; Pursuant to and in accordance with the afore stated sanction plan and sanctioned and approved by the Aurangabad Municipal Corporation Aurangabad, the Owner/Vendor has completed the development on the said property by all means; XI. While sanctioning the said plans, the Aurangabad Municipal Corporation Aurangabad/Planning Authority imposed certain terms, conditions, stipulations and restrictions which are to be observed and performed by the Owner/Vendor while developing the said Property and the construction of the said Building and upon due observance and performance of which only the Completion and Occupation certificates in respect of the said Project is granted by the Planning Authority; XII. The Owner/Vendor has entered into standard agreement with “Mr. Shruti Deshpande” an architect registered with the council of architects and such agreement is as per the agreement prescribed by the council of architects and the Owner/Vendor also appointed Mr. _____________ structural engineers for the preparation of the structural design and drawings of the said Building and the Owner/Vendor accepts the professional supervision of the architect and the structural engineer or any replacement thereof till the completion of the said Building; XIII. The Owner/Vendor has at the time of allotment and prior to the execution hereof, as demanded by the Allottee/Purchaser given inspection to the Allottee/ Purchaser/s of all documents of title relating to the said Project Property and the plans, designs and specifications prepared by the Architect; copies of documents inter alia such as all sanctions, permissions, licenses, clearances etcetera issued in favour of the Owner/Vendor by various local/government/semi government bodies; right of the Owner/Vendor to develop the said Project on said property; and 5 all other related documents as are specified under the Real Estate (Regulation and Development) Act, 2016 and the Rules made there under, (said “ACT”) and the Allottee/Purchaser has satisfied himself about the plans, designs and specifications of said Flat/Shop, title of the Owner/Vendor to the said Project Property, and Owner/Vendor having development rights to develop the said Project property including and to allot and sell the said Flat/Shop; XIV. That the carpet area of the said Apartment is in square meters and "carpet area" means the net usable floor area of an Flat/Shop, excluding the area covered by the external walls, areas under services shafts, exclusive balcony appurtenant to the said Flat/Shop for exclusive use of the Allottee or verandah area and exclusive open terrace area appurtenant to the said Flat/Shop for exclusive use of the Allottee/Purchaser, but includes the area covered by the internal partition walls of the Flat/Shop; Explanation: - The Carpet area stated herein includes the area covered by the internal partition walls which may be constructed of plain bricks, reinforced bricks, clay, terracotta, drywall, concrete plain or reinforced, drywall, shear walls, precast concrete as those being walls that are partitions within the internal area of the Flat/Shop and also includes area covered by internal and attached Column’s/Pillars to the internal partition walls of the Flat/Shop. XV. That the Owner/Vendor hereby agreed and confirmed that Owner/Vendor made all statutory compliances for commenced and completion of the entire residential cum commercial building. XVI. The Allottee/Purchaser on relaying on assurances by Owner/Vendor and documents such as sanction plan, floor plan, specifications, design, areas, location of the Apartment building project, amenities, common area, title documents, sanctions, applied for allotment of a residential cum commercial Flat/Shop Bearing No. ___, admeasuring ________ Sq.Mt. Carpet area, (Built- up area _____ Sq.Mt.) open and enclosed balcony/CB/Terrace area ______ Sq.Mt. along with ______ Sq.Mt. P-Line and ________ Sq.Mt. area for 7/12 extract, on ______ Floor, in ADINATH SANKUL 6 being constructed on the said property, the Flat/Shop is more particularly described in the Schedule-B written hereunder and delineated in red in the floor plan which is also part of the said Schedule-B, with general specifications of construction more particularly described in the ANNEXURE-____ written hereunder, which Flat/Shop is hereinafter referred to as the said “FLAT/SHOP”; (For the sake of convenience of registration, smaller image of the relevant Floor Plan of building sanctioned by the Planning Authority and certified by the Architect is annexed as Schedule-B and a certified copy of sanctioned plan is separately provided to the Allottee/Purchaser). The Owner/Vendor has agreed to provide common areas and facilities for common use of the residential cum commercial, residents of the said Building and the same shall be as described in the ANNEXURE–____ enclosed hereto. Smaller images of present sanctioned building plan, delineating the said building are annexed and marked as ANNEXURE-_____. XVII. Relying upon the said application the Owner/Vendor agreed to allot to the Allottee/Purchaser herein the said Flat/Shop Bearing No. ___, admeasuring ________ Sq.Mt. Carpet area, (Built-up area _____ Sq.Mt.) open and enclosed balcony/CB/Terrace area ______ Sq.Mt. along with ______ Sq.Mt. P-Line and ________ Sq.Mt. area for 7/12 extract, on ______ Floor, in ADINATH SANKUL at the price and on the terms and condition hereinafter appearing, and the OWNER/VENDOR issued to the Allottee/Purchaser an “ALLOTMENT LETTER" dated _____________ to that effect; That the Parties relying on the confirmations, representations and assurances of each other to faithfully abide by all the terms, conditions and stipulations contained in this Agreement and all applicable laws, are now willing to enter into this Agreement on the terms and conditions appearing hereinafter; XVIII. Prior to the execution of these presents the Allottee/Purchaser has paid the Consideration to Owner/Vendor a sum of Rs.___________/- (Rupees_________________only) as advance payment in compliance with clause 13(1) of the said Act), being part payment of the sale price/consideration of the Flat/Shop agreed to be sale by the Owner/Vendor to the 7 Allottee/Purchaser as advance payment or earnest money deposit, or holding amount or application fee (the payment and receipt whereof the Owner/Vendor both hereby admit and acknowledge) and the Allottee/Purchaser agreed to pay to the Owner/Vendor the balance of the sale price/consideration in the manner hereinafter appearing; XIX. The Allottee/Purchaser having satisfied with the specification of the said Flat/Shop; and with the above said title documents and sanctions inspected by he/her/them, agreed to purchase the said Flat/Shop from the Owner/Vendor and the Owner/Vendor agreed to allot the same to the Allotee’s/Purchaser/s for and at the price hereinafter mentioned; XX. The Owner/Vendor has registered the said Project under the provisions of the said Act with the Real Estate Regulatory Authority on _________ bearing Registration No.____________; the authenticated copy of the same is annexed hereto and marked as ANNEXURE-____ XXI. Under section 13 of the said Act the Owner/Vendor is required to execute a written Agreement for sale of said Flat/Shop with the Allottee/Purchaser, being in fact these presents and to register the said Agreement under the Registration Act, 1908; XXII. In accordance with the terms and conditions set out in this Agreement and as mutually agreed upon by and between the Parties, the Owner/Vendor hereby agrees to sell and the Allottee/Purchaser hereby agrees to purchase the said Flat/Shop and the parties hereto therefore have executed this Agreement for sale to witness the terms and conditions thereof and in compliance with Section No.13 of the said Act, as under :- NOW THESE PRESENTS WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS :- 1. The Owner/Vendor shall construct the one residential cum commercial building consist, and consisting of P+5 upper floors on the said property in accordance with the plans, designs and specifications as approved by the Planning Authority from time to time. 8 Provided that the Owner/Vendor shall have to obtain prior consent in writing of the Allottee/Purchaser in respect of variations or modifications which may adversely affect the Flat/Shop of the Allottee/Purchaser except (i) any alteration or addition required by any Government authorities or due to change in law, or (ii) the Owner/Vendor may make such minor additions or alterations as may be required by the Allottee/Purchaser, or such minor changes or alterations as may be necessary due to architectural and structural reasons duly recommended and verified by the Architect or Engineer after proper declaration and intimation to the Allottee/ Purchaser. 2. The Owner/Vendor does hereby agree to sale, transfer and otherwise convey in the manner hereinafter mentioned, the said Flat/Shop Bearing No. ___, admeasuring ________ Sq.Mt. Carpet area, (Built-up area _____ Sq.Mt.) open and enclosed balcony/CB/Terrace area ______ Sq.Mt. along with ______ Sq.Mt. P-Line and ________ Sq.Mt. area for 7/12 extract, on ______ Floor, in ADINATH SANKUL which described in Schedule-B, residential cum commercial Building being constructed on the said property described in Schedule-A unto and in favour of the Allottee/Purchaser herein, subject to the terms and conditions thereof and the Allottee/Purchaser does hereby agrees to purchase the same from the Owner/Vendor for the total consideration of Rs.___________/- (Rupees ________________) including cost of proportionate common area, and out of which Rs.___________/- (Rupees ________________) Purchaser has paid the earnest amount to Owner/Vendor as under :- Sr Cheque Date Amount Bankers 1. 2. 3. 4. Total As such Owner/Vendor hereby acknowledges the receipt of the same. The purchaser shall pay the remaining amount of 9 consideration of in the manner provided in the clause No. 4 thereof. 3. The above said total consideration excludes Taxes (consisting of tax paid or payable by way of GST (Goods and Service Tax), Cess, payment for electricity connection, electricity infrastructure charges, stamp duty, registration charges and payment relating to extra items etc. or any other similar taxes which may be levied, in connection with the construction of and carrying out the Project) up to the date of handing over the possession of the said Flat/Shop and the above said total consideration is escalation-free, save and except escalations/increases, due to increase on account of development charges payable to the competent authority and/or any other increase in charges which may be levied or imposed by the competent authority Local Bodies/ Government from time to time. The OWNER/VENDOR undertakes and agrees that while raising a demand on the Allottee/Purchaser for increase in development charges, cost, or levies imposed by the competent authorities etc., the OWNER/VENDOR shall enclose the said notification/order/ rule/regulation published/issued in that behalf to that effect along with the demand letter being issued to the Allottee/ Purchaser, which shall only be applicable on subsequent payments. The OWNER/VENDOR may charge the Allottee/Purchaser separately for any up-gradation/ changes specifically requested, made changes in specification or additional work other then agreed in specification or approved by the Allottee/Purchaser in fittings, fixtures and specifications and any other facility which have been done on the Allottee/Purchaser request or approval but which have not been agreed upon herein or as shown in the website of the registered authority. 4. In consideration thereof the Allottee/Purchaser paid and/or agreed to pay the above said total consideration for the purchase of the said Flat/Shop to the Promoters and the OWNER/VENDOR agreed to accept the same from the Allottee/Purchaser as per the Payment Schedule as under :- 10 Amount Particulars or Stage of Payment Rs.___________ 20% of the total price payable by the Purchaser to the OWNER/VENDOR on execution of Agreement Rs.___________ 15% of the total price payable by the Purchaser to the OWNER/VENDOR at the time of completion of Plinth. Rs.___________ 05% of the total price payable by the Purchaser to the OWNER/VENDOR at the time of commencement of the 2nd slab of the Building Rs.___________ 05% of the total price payable by the Purchaser to the OWNER/VENDOR at the time of commencement of the 03rd slab of the Building Rs.___________ 05% of the total price payable by the Purchaser to the OWNER/VENDOR at the time of commencement of the 04th slab of the Building Rs.___________ 05% of the total price payable by the Purchaser to the OWNER/VENDOR at the time of commencement of the 05th slab of the Building Rs.___________ 05% of the total price payable by the Purchaser to the OWNER/VENDOR on completion of walls, internal plaster, floorings, doors and windows of the said unit Rs.___________ 10% of the total price payable by the Purchaser to the OWNER/VENDOR on Completion the, Staircases, Lift wells, lobbies upto the floor level of the said unit Rs.___________ 10% of the total price payable by the Purchaser to the OWNER/VENDOR on Completion the external plumbing, and external plaster, elevation, terraces with waterproofing of the said building or wing of the said unit 05 % sanitary Fittings Rs.___________ 05% Balance amount of the total price payable by the Purchaser to the OWNER/VENDOR at the time of delivery of possession on or after occupancy of certificate or completion certificate of the said unit. Rs.___________ Total (_________ Only) amount (100%) 5. That, on completion of the Flat/Shop, the purchaser shall be given intimation by the OWNER/VENDOR and within a 15 days from the said intimation the purchaser will have to pay all the dues towards the price of the Flat/Shop, GST and other applicable cess, payment for electricity connection, 11 electricity infrastructure charges and payment relating to extra items and get the Sale Deed executed in his/her/their favour at his/her/their own cost and take the possession of the Flat/Shop. 6. Subject to the terms of this Agreement and the OWNER/VENDOR abiding by the construction mile stones, the Allottee/Purchaser shall make all payments, on demand by the OWNER/VENDOR, within the stipulated time as mentioned in the Payment Schedule through A/c Payee cheque/demand draft only or online payment (as applicable) in favour of Mr. ____________________. The OWNER/VENDOR herein on due date or on reaching aforesaid construction milestone /stage as mentioned here in above, shall intimate the amount payable in writing or by digital email to the Allottee/Purchaser and the Allottee/Purchaser shall make payment of such due amount to the OWNER/VENDOR within seven days from the date of such intimation. The Allottee/Purchaser herein specifically agrees that he/she/they shall pay the total consideration along with the GST at actual applicable and such other applicable taxes, charges etc... 7. The OWNER/VENDOR may allow, in its sole discretion, a rebate for early payments of equal instalments payable by the Allottee/Purchaser as per the aforesaid payment schedule. The provision for allowing rebate and such rate of rebate shall not be subject to any revision/withdrawal, once granted to an Allottee/Purchaser by the DEVELOPER/ BUILDER. 8. The OWNER/VENDOR shall confirm the final carpet area, that has been allotted to the Allottee/Purchaser after the construction of the said Building is complete and the occupancy certificate is granted by the competent authority, by furnishing details of the changes, if any, in the carpet area, enclosed balcony area, subject to a variation cap of (03 %) three percent. The total price payable for the said Flat/Shop shall be recalculated upon confirmation by the OWNER/VENDOR. If there is any reduction in the carpet area 12 and enclosed balcony area, within the defined limit then OWNER/VENDOR shall refund the excess money paid by Allottee/Purchaser within forty-five days with annual interest at the rate specified in the Rules, from the date when such an excess amount was paid by the Allottee/Purchaser. If there is any increase in the carpet area and enclosed balcony area allotted to Allottee/Purchaser, the OWNER/VENDOR shall demand additional amount from the Allottee/Purchaser as per the next milestone of the Payment Schedule. All these monetary adjustments shall be made at the same rate per square meter as agreed in Clause no. 2 of this Agreement. 9. The Allottee/Purchaser authorizes the OWNER/VENDOR to adjust/appropriate all payments made by him/her under any head(s) of dues against lawful outstanding, if any, in his/her name as the OWNER/VENDOR may in its sole discretion deem fit and the Allottee/Purchaser undertakes not to object/demand/direct the OWNER/VENDOR to adjust his payments in any manner. 10. Without prejudice to the right of the OWNER/VENDOR to take action for breach arising out of delay in payment of the instalments on the due dates, the Allottee/Purchaser shall be bound and liable to pay interest as specified in the Rules of the said Act, with monthly rests, on all amounts which become due and payable by the Allottee/Purchaser to the OWNER/VENDOR till the date of actual payment, provided that tender of the principal amounts and interest or tender of the interest and expenses thereof shall not itself be considered as waiver of the right of the OWNER/VENDOR under this Agreement, nor shall it be construed as condonation of delay by the OWNER/VENDOR. The amount of interest may be informed to the Allottee/Purchaser from time to time or on completion of the said Project Flat/Shop, and the Allottee/ Purchaser/s has/have agreed to pay the same as and when demanded before the possession of the said Flat/Shop. 11. Without prejudice to the right of OWNER/VENDOR to charge interest in terms of above mentioned clause, on the 13 Allottee/Purchaser committing default in payment on due date of any amount due and payable by the Allottee/Purchaser to the OWNER/VENDOR under this Agreement (including his/her proportionate share of taxes levied by concerned local authority and other outgoings) and on the Allottee/Purchaser committing three defaults of payment of instalments, the OWNER/VENDOR shall at his own option, may terminate this Agreement: Provided that, OWNER/VENDOR shall give notice of fifteen days in writing to the Allottee/Purchaser, by Registered Post AD at the address provided by the Allottee/Purchaser and mail at the e-mail address provided by the Allottee/Purchaser, of his intention to terminate this Agreement and of the specific breach or breaches of terms and conditions in respect of which it is intended to terminate the Agreement. If the Allottee/Purchaser fails to rectify the breach or breaches mentioned by the OWNER/VENDOR within the period of notice then at the end of such notice period, OWNER/VENDOR shall be entitled to terminate this Agreement. Provided further that upon termination of this Agreement as aforesaid, the OWNER/VENDOR shall refund the amount till then received from the Allottee/Purchaser without any interest thereon within a period of 30 days, by deducting; (i) an amount of Rs.1,00,000/- (Rupees One Lakh Only) towards liquidated damages and/or cancellation in addition to any interest (as specified in the Rules of the said Act) payable on outstanding amount overdue from the Allottee/Purchaser , (ii) the stamp duty, registration charges, cost of extra work etc. and (iii) the amount of GST or any other taxes charged by the OWNER/VENDOR to the Allottee/Purchaser till the date of such termination and the OWNER/VENDOR herein shall be entitled to deal with the said Flat/Shop with any prospective buyer. Delay in issuance of any reminder/s or notice/s from the OWNER/VENDOR shall not be considered as waiver of OWNER/VENDOR absolute right to terminate this Agreement. 14 For whatsoever reason if the Allottee/Purchaser herein, without any default or breach on his/her/their part or on the part of the OWNER/VENDOR, desire to terminate this agreement/ transaction in respect of the said Flat/Shop then, the Allottee/Purchaser herein shall issue a prior written notice to the OWNER/VENDOR informing the intention of the Allottee/Purchaser to terminate this Agreement and on such receipt of notice the OWNER/VENDOR herein shall be entitled to deal with the said Flat/Shop with prospective buyers. After receipt of such notice of intention to terminate this Agreement the OWNER/VENDOR shall issue a 15 days’ notice in writing calling upon him/her/them to execute and register Deed of Cancellation. Only upon the execution and registration of Deed of Cancellation, the Allottee/Purchaser shall be entitled to receive the refund of the amount till then paid by the Allottee/Purchaser to the OWNER/VENDOR without any interest thereon within a period of six months, by deducting; (i) an amount of Rs.1,00,000/- (Rupees One Lakh Only) towards liquidated damages and/or cancellation in addition to any interest (as specified in the Rules of the said Act) payable on outstanding amount overdue from the Allottee/Purchaser, (ii) the stamp duty, registration charges, cost of extra work etc. and (iii) the amount of GST and LBT charged by the OWNER/VENDOR to the Allottee/Purchaser till the date of such termination. It is specifically agreed between the parties hereto that, if the transaction in respect of the said Flat/Shop between the OWNER/VENDOR and Allottee/Purchaser herein terminated as stated hereinabove then all the instruments under whatsoever head executed between the parties hereto or between the OWNER/VENDOR and Allottee/Purchaser herein, in respect of the said Flat/Shop, shall stands automatically cancelled and either party have no right, title, interest or claim against each other. 12. The OWNER/VENDOR shall have first and permanent lien and charge upon the said Flat/Shop and the right, title and 15 interest of the Allottee/Purchaser therein for all moneys due and payable by the Allottee/Purchaser to the OWNER/VENDOR under this agreement. 13. The OWNER/VENDOR shall construct on the said property the said Building in accordance with plans, designs and specifications as seen and approved by the Allottee/Purchaser prior to the execution of this agreement and duly approved by the planning authority with such variations and modifications as the OWNER/VENDOR in their absolute authority may consider expedient. Provided that the OWNER/VENDOR shall have to obtain prior consent in writing of the Allottee/Purchaser in respect of variations or modifications which may adversely affect the Flat/Shop of the Allottee/Purchaser except any alteration or addition required by any Government authorities or due to change in law. 14. The OWNER/VENDOR hereby agrees to observe, perform and comply with all terms, conditions, stipulations and restrictions, if any, which have been imposed by the public bodies, various Govt. departments, authorities, including planning authority at the time of sanctioning the building plans or thereafter. The OWNER/VENDOR shall, before handing over possession of the said Flat/Shop to the Allottee/Purchaser obtain from the concerned local authority completion/occupation certificate in respect inter alia of the said Flat/Shop. The terms, conditions, stipulations and restrictions imposed by the concerned authorities at the time of sanctioning the building plans or thereafter shall also be binding on the Allottee/Purchaser herein and all Allottee/Purchaser of the Flat/Shop of the said Project and OWNER/VENDOR. 15. The fixtures and fittings with regard to the flooring and sanitary fittings and amenities like one or more lifts to be provided by the OWNER/VENDOR in the said building and the Apartment are as set out in Annexure-____, annexed hereto. 16 16. The covenants relating to the procedure of possession as agreed by and between the parties to this Agreement are as follows:- a. The OWNER/VENDOR agrees and understands that timely delivery of possession of the Flat/Shop is the essence of this Agreement. Subject to receipt of total consideration and dues of the OWNER/VENDOR and taxes thereon are paid by the Allottee/Purchaser in respect of the said Flat/Shop on time, in terms of these presents, the OWNER/VENDOR, based on the approved plans and specifications, assures to handover possession of the said Flat/Shop on or before __________ (i.e. date of possession). Provided that the OWNER/VENDOR shall be entitled to reasonable extension of time as agreed by and between the Allottee/Purchaser and the OWNER/VENDOR for giving possession of the Flat/Shop on the aforesaid date, and the same shall not include the period of extension given by the Authority for registration. Further if the completion of building in which the Flat/Shop is to be situated is delayed on account of :– (i) War, civil commotion, flood, drought, fire, cyclone, earthquake, act of god or any calamity by nature affecting the regular development of the real estate project or due ban on construction due to shortage of sand or water etc- etera by local body the Allottee has committed any default in payment of instalment as mentioned here in above (without prejudice to the right of the OWNER/VENDOR to terminate this agreement mentioned herein above), any extra work/addition required to be carried in the said Apartment as per the requirement and at the cost of the Allottee/Purchaser, non-availability of steel, cement or any other building materials, water or electric supply, any delay on the part of the Office of the Collector, Aurangabad or any other Public Body or Authority, including the MSEDCL, in issuing or granting necessary Certificates / Noc’s / Permissions /Licenses /Connections of any service such as Electricity, 17 Drains and Water Connections and Meters to the said Project under construction by the OWNER/VENDOR on the said land, any other reasons beyond the control of the OWNER/VENDORor (“Force Majeure”). (ii) Extension of time for giving possession as may be permitted by the Regulatory Authority under the said Act for reason where actual work of said Project/building could not be carried by the OWNER/VENDOR as per sanctioned plan due to specific stay or injunction orders relating to the said Project from any Court of Law, or Tribunal, Competent authority, statutory authority, high power committee etc. or due to such circumstances as may be decided by the Authority. b. If, however, the completion of the said Project is delayed due to the Force Majeure conditions then the Allottee/Purchaser agrees that the OWNER/VENDOR shall be entitled to the extension of time for delivery of possession of the Flat/Shop, provided that such Force Majeure conditions are not of a nature which make it impossible for the contract to be implemented. The Allottee/Purchaser agrees and confirms that, in the event it becomes impossible for the OWNER/VENDOR to implement the Project due to Force Majeure conditions, then this allotment shall stand terminated and the OWNER/VENDOR shall refund to the Allottee/Purchaser the entire amount received by the OWNER/VENDOR from the Allottee/Purchaser within 30 days’ from that date. After any refund of the money paid to the Allottee/Purchaser, Allottee/Purchaser agrees that he/she/they shall not have any rights, claims etc. against the OWNER/VENDOR and that the OWNER/VENDOR shall be released and discharged from all its obligations and liabilities under this Agreement. c. The Allottee/Purchaser further agree that even where ‘substantial completion’ of works has been done and after receiving Occupancy Certificate from the competent authority possession of the said Flat/Shop shall be given. That 18 substantial completion would mean works done that do not affect his use or occupation of his Flat/Shop and he can cohabit in the said Flat/Shop. However if the OWNER/VENDOR is not allowed by the Allottee/Purchaser or any person on his behalf to complete the remaining portion of the works, it shall be accepted by and between the parties that the remaining works shall be deemed to have been done as and against the OWNER/VENDOR. d. The OWNER/VENDOR, upon obtaining the Occupancy Certificate from the Planning Authority shall offer in writing to the Allottee/Purchaser intimating that, the said Flat/Shop is ready for use and occupation. The Allottee/Purchaser herein shall inspect the said Flat/Shop in all respects to confirm that the same is in accordance with the terms and conditions of this Agreement, complete the payment of total consideration and dues and taxes thereon to the OWNER/VENDOR as per terms and conditions of this Agreement and take the possession of the said Flat/Shop within 15 days’ from the date of written intimation issued by the OWNER/VENDOR to the Allottee/Purchaser herein. The OWNER/VENDOR agrees and undertakes to indemnify the Allottee/Purchaser in case of failure of fulfilment of any of the provisions, formalities, documentation on part of the OWNER/VENDOR. The Allottee/Purchaser agrees to pay the maintenance charges as determined by the OWNER/VENDOR body of the Flat/Shop Allottee/ Purchasers/ association of Allottee/Purchaser, as the case may be. It shall be expressly agreed that wherever it is the responsibility of the Allottee/Purchaser to apply and get necessary services the same shall not be undertaken by the OWNER/VENDOR and the Allottee/Purchaser shall be solely responsible for the same. e. Upon receiving a written intimation from the OWNER/VENDOR as stated hereinabove, the Allottee/ Purchaser/s shall take possession of the said Flat/Shop from the OWNER/VENDOR by executing necessary indemnities, undertakings, possession agreement and such other 19 documentation as prescribed in this Agreement, and the OWNER/VENDOR shall give possession of the said Flat/Shop to the Allottee/Purchaser. In case the Allottee/Purchaser fails or commits delay in taking possession of said Flat/Shop within the time provided hereinabove, such Allottee/Purchaser shall be liable for payment of common maintenance charges as applicable, property tax, electricity charges and any other expenses and outgoings in respect of the said Flat/Shop and the OWNER/VENDOR shall not be liable for the maintenance, wear and tear of the said Flat/Shop. f. After obtaining the occupancy certificate and handing over physical possession of the said Flat/Shop to the Allottee/Purchaser, it shall be the responsibility of the OWNER/VENDOR to handover the necessary documents and plans, including common areas, to the association of the Allottee/Purchaser or the competent authority, as the case may be, as per the local laws. Further that the Allottee/Purchaser has given his specific confirmation herein that the responsibility of title of the properties mentioned in the Schedule No. A & B shall be on the OWNER/VENDOR up and until the conveyance of the same as envisaged hereinafter. g. Except for occurrence of the events stating herein above, if the OWNER/VENDOR fails to complete or is unable to give possession of the said Flat/Shop; (i) in accordance with the terms of this Agreement, duly completed by the date specified herein; or (ii) due to discontinuance of his business as a OWNER/VENDOR on account of suspension or revocation of the registration under the said Act; or for any other reason; the OWNER/VENDOR shall be liable, on demand to the Allottee/Purchaser, in case the Allottee/Purchaser wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the Flat/Shop by deducting applicable taxes and charges, with the interest as specified in the Rules of the said Act with the interest as per 20 State Bank of India highest Marginal cost of Landing rate plus 2 % percent per annum within 30 days including compensation in the manner as provided under the Act, within 30 days including compensation in the manner as provided under the said Act. Provided that where if the Allottee/Purchaser does not intend to withdraw from the said Project, the OWNER/VENDOR shall pay the Allottee/Purchaser interest as specified in the Rules of the said Act, on all amounts paid by the Allottee/Purchaser , for every month of delay, till handing over of the possession of the said Flat/Shop. 17. Time is an essence of this Agreement for the OWNER/VENDOR as well as the Allottee/Purchaser. The OWNER/VENDOR shall abide by the time schedule for completing the project and handing over the Flat/Shop to the Allottee/Purchaser and the common areas to the association of the Allottee/Purchaser after receiving the occupancy certificate or the completion certificate or both, as the case may be. Similarly, the Allottee/Purchaser shall make timely payments of the instalment and other dues payable by him and meeting the other obligations under the Agreement subject to the simultaneous completion of construction by the OWNER/VENDOR as provided hereinabove ("Payment Schedule" above for brevity ). 18. If within a period of 05 years as specified in the Rules of said Act, the Allottee/Purchaser from the date of handing over the said Flat/Shop or within 15 days from the date of intimation by the OWNER/VENDOR to take the possession of the said Flat/Shop whichever is earlier, brings to the notice of the OWNER/VENDOR any structural defect in the Flat/Shop or the building in which the Flat/Shop is situated or any defects on account of workmanship, quality or provision of services, then wherever possible such defects shall be rectified by the OWNER/VENDOR at his own cost and in case it is not possible to rectify such defects, then the Allottee/Purchaser shall be entitled to receive from the OWNER/VENDOR, compensation for such defect in the manner as provided under the Act. 21 19. Provided however, that the Allottee/Purchaser shall not carry out any alterations of the whatsoever nature in the said Flat/Shop/ Passage/Balcony/Parking area or any place of the said Building/s which shall include but not limit to columns, beams etc. or in the fittings therein, in particular it is hereby agreed that the Allottee/Purchaser shall not make any alterations in any of the fittings, pipes, water supply connections or any erection or alteration in the bathroom, toilet and kitchen, which may result in seepage of the water. If any of such works are carried out without the written consent of the OWNER/VENDOR the defect liability automatically shall become void. 20. The word defect here means only the manufacturing and workmanship defect/s caused on account of wilful neglect on the part of the OWNER/VENDOR, and shall not mean defect/s caused by normal wear and tear and by negligent use of Flat/Shop by the Occupants, vagaries of nature etc. 21. That it shall be the responsibility of the Allottee/Purchaser to maintain his Flat/Shop in a proper manner and take all due care needed including but not limiting to the joints in the tiles in his Flat/Shop are regularly filled with white cement / epoxy to prevent water seepage. Further where the manufacturer warranty as shown by the OWNER/VENDOR to the Allottee/Purchaser ends before the defects liability period and such warranties are covered under the maintenance of the said Flat/Shop or Building, and if the annual maintenance contracts are not done / renewed by the Allottee/Purchaser the OWNER/VENDOR shall not be responsible for any defects occurring due to the same. 22. That the project as a whole has been conceived, designed and constructed based on the commitments and warranties given by the Vendors/manufacturers that all equipment’s, fixtures and fittings shall be maintained and covered by maintenance/warranty contracts so as it to be sustainable and in proper working condition to continue warranty in both the Flat/Shop/s and the common project amenities wherever applicable. 22 23. That the Allottee/Purchaser has been made aware and the Allottee/Purchaser expressly agrees that the regular wear and tear of the entire Building includes minor hairline cracks on the external and internal walls excluding the RCC structure which happens due to variation in temperature of more than 20°C and which do not amount to structural defects and hence cannot be attributed to either bad workmanship or structural defect. Provided further that any deviation in usage/maintenance of the said Flat/Shop in contravention to User Manual shall amount to default on part of the Allottee/Purchaser towards proper maintenance of the residential cum commercial building and the Allottee/ Purchaser shall not be entitled to claim any compensation against defect liability from the OWNER/VENDOR. It is expressly agreed that before any liability of defect is claimed by or on behalf of the Allottee/Purchaser, it shall be necessary to appoint an expert who shall be a nominated surveyor who shall survey and assess the same and shall then submit a report to state the defects in materials used, in the structure built of the said Building and in the workmanship executed keeping in mind the aforesaid agreed clauses of this agreement. Further the Allottee/Purchaser shall permit the OWNER/VENDOR and their surveyors and agents, with or without workmen and others, at all reasonable times, to enter into and upon the said building or any part thereof to view and examine the state and condition thereof. 24. Howsoever for the purpose of defect liability on towards the OWNER/VENDOR, the date shall be calculated from the date of handing over possession to the Allottee/Purchaser for fit- outs and interior works or within 15 days from the date of intimation of possession of the said Flat/Shop by the OWNER/VENDOR whichever is earlier and that the said liability shall be those responsibilities which are not covered under the maintenance of the said building as stated in this Agreement. That further it has been agreed by the Allottee/Purchaser that any damage or change done within the Flat/Shop sold or in the building/phase/wing done by 23 him/them or by any third person on and behalf of the Allottee/Purchaser then the Allottee/Purchaser expressly absolves the OWNER/VENDOR from the same. 25. The OWNER/VENDOR hereby represents and warrants to the Allottee/Purchaser as follows: i. The OWNER/VENDOR has clear and marketable title with respect to the said Property; as declared in the title certificate /report annexed to this agreement and the OWNER/VENDOR has the requisite rights to carry out development upon the said Property/Project Land and also has actual, physical and legal possession of the said Property for the implementation of the Project; ii. The OWNER/VENDOR has lawful rights and requisite approvals from the competent Authorities to carry out development of the Project and shall obtain requisite approvals from time to time to complete the development of the project; iii. There are no encumbrances upon the said Property or the Project except those disclosed in the title report; iv. There are no litigations pending before any Court of law with respect to the said Property or Project; v. All approvals, licenses and permits issued by the competent authorities with respect to the project, said Property and said building/wing are valid and subsisting and have been obtained by following due process of law. Further, all approvals, licenses and permits to be issued by the competent authorities with respect to the Project, said Property and said building/wing shall be obtained by following due process of law and the OWNER/VENDOR has been and shall, at all times, remain to be in compliance with all applicable laws in relation to the Project, said Property, Building/wing and common areas; vi. The OWNER/VENDOR has the right to enter into this Agreement and has not committed or omitted to perform any act or thing, whereby the right, title and interest of the Allottee/Purchaser created herein, may prejudicially be affected; 24 vii. The OWNER/VENDOR has not entered into any agreement for sale and/or any other agreement / arrangement orally or in writing with any person or party with respect to the said Property, including the Project and the said Flat/Shop which will, in any manner, affect the rights of Allottee/Purchaser under this Agreement; other than the encumbrances mentioned in Title Report. viii. The OWNER/VENDOR confirms that the OWNER/VENDOR is not restricted in any manner whatsoever from selling the said Flat/Shop to the Allottee/Purchaser in the manner contemplated in this Agreement; ix. At the time of execution of the Conveyance of the structure to the association of Allottee/Purchaser the OWNER/VENDOR shall handover lawful, vacant, peaceful, physical possession of the common areas of the Structure to the Association of the Allottee/Purchaser ; x. The OWNER/VENDOR has duly paid and shall continue to pay and discharge undisputed governmental dues, rates, charges and taxes and other monies, levies, impositions, premiums, damages and/or penalties and other outgoings, whatsoever, payable with respect to the said Project to the competent Authorities; xi. No notice from the Government or any other local body or authority or any legislative enactment, government ordinance, order, notification (including any notice for acquisition or requisition of the said property) has been received or served upon the OWNER/VENDOR in respect of the said Property and/or the Project except those disclosed in the title report. 26. The Allottee/Purchaser or himself/themselves with intention to bring all persons into whosoever hands the said Flat/Shop may come, hereby covenants with the OWNER/VENDOR as follows :- i. To maintain the Flat/Shop at the Allottee/Purchaser own cost in good and tenantable repair and condition from the date that of possession of the Flat/Shop is taken and shall not do or 25 suffer to be done anything in or to the building in which the Flat/Shop is situated which may be against the rules, regulations or bye-laws or change/alter or make addition in or to the building in which the Flat/Shop is situated and the Flat/Shop itself or any part thereof without the consent of the local authorities, if required. ii. Not to store in the Flat/Shop any goods which are of hazardous, combustible or dangerous nature or are so heavy as to damage the construction or structure of the building in which the Flat/Shop is situated or storing of which goods is objected to by the concerned local or other authority and shall take care while carrying heavy packages which may damage or likely to damage the staircases, common passages or any other structure of the building in which the Flat/Shop is situated, including entrances of the building in which the Flat/Shop is situated and in case any damage is caused to the building in which the Flat/Shop is situated or the Flat/Shop on account of negligence or default of the Allottee/Purchaser in this behalf, the Allottee/Purchaser shall be liable for the consequences of the breach. iii. To carry out at his own cost all internal repairs to the said Flat/Shop and maintain the Flat/Shop in the same condition, state and order in which it was delivered by the OWNER/VENDOR to the Allottee/Purchaser and shall not do or suffer to be done anything in or to the building in which the Flat/Shop is situated or the Flat/Shop which may be contrary to the rules and regulations and bye-laws of the concerned local authority or other public authority. In the event of the Allottee/Purchaser committing any act in contravention of the above provision, the Allottee/Purchaser shall be responsible and liable for the consequences thereof to the concerned local authority and/or other public authority. iv. Not to demolish or cause to be demolished the Flat/Shop or any part thereof, nor at any time make or cause to be made any addition or alteration of whatever nature in or to the Flat/Shop or any part thereof, nor any alteration in the elevation and outside colour scheme of the building in which 26 the Flat/Shop is situated and shall keep the portion, sewers, drains and pipes in the Flat/Shop and the appurtenances thereto in good tenantable repair and condition, and in particular, so as to support shelter and protect the other parts of the building in which the Flat/Shop is situated and shall not chisel or in any other manner cause damage to columns, beams, walls, slabs or RCC, Pardis or other structural members in the Flat/Shop without the prior written permission of the OWNER/VENDOR. v. Not to do or permit to be done any act or thing which may render void or voidable any insurance of the said Property and the building in which the Flat/Shop is situated or any part thereof or whereby any increased premium shall become payable in respect of the insurance. vi. Not to throw dirt, rubbish, rags, garbage or other refuse or permit the same to be thrown from the said Flat/Shop in the compound or any portion of the said Property/Project Land and the building in which the Flat/Shop is situated. vii. Pay to the OWNER/VENDOR within fifteen days of demand by the OWNER/VENDOR, his share of security deposit demanded by the concerned local authority or Government or giving water, electricity or any other service connection to the building in which the Flat/Shop is situated. viii. To bear and pay increase in local taxes, water charges, insurance and such other levies, if any, which are imposed by the concerned local authority and/or Government and/or other public authority, on account of change of user of the Flat/Shop by the Allottee/Purchaser for any purposes other than for purpose for which it is sold. ix. The Allottee/Purchaser shall not let, sub-let, transfer, assign or part with interest or benefit factor of this Agreement or part with the possession of the Flat/Shop until all the dues payable by the Allottee/Purchaser to the OWNER/VENDOR under this Agreement are fully paid up. x. The Allottee/Purchaser shall observe and perform all the rules and regulations may adopt and the additions, alterations or amendments thereof that may be made from time to time for 27 protection and maintenance of the said building and the Flat/Shop therein and for the observance and performance of the Building Rules, Regulations and Bye-laws for the time being of the concerned local authority and of Government and other public bodies and also adhere the bylaws mentioned in Deed of Declaration U/s. 2-a Maharashtra Apartment Ownership Act 1970. The Allottee/Purchaser shall also observe and perform all the stipulations and conditions laid down by the OWNER/VENDOR regarding the occupancy and use of the Flat/Shop in the Building and shall pay and contribute regularly and punctually towards the taxes, expenses or other out-goings in accordance with the terms of this Agreement. xi. The Allottee/Purchaser shall not be entitled to claim possession of the said Flat/Shop until the Occupation / Completion Certificate is received from the local authority and the Allottee/Purchaser has paid all dues payable under this Agreement in respect of the said Flat/Shop to the OWNER/VENDOR and has paid the necessary maintenance amount/deposits, GST and other applicable Cess and other taxes payable under this Agreement. xii. That the Allottee/Purchaser shall indemnify and keep indemnifying the OWNER/VENDOR against any actions, proceedings, cost, claims and demands in respect of any breach, non-observance or non-performance of such obligations given specifically herein to the Allottee/ Purchaser/s. xiii. That any nominated surveyor/architect appointed for specific purposes stated in this covenant the fees of which shall mutually decide by and between the OWNER/VENDOR and the Allottee/Purchaser and the same shall be paid by the Allottee/Purchaser as agreed mutually. xiv. That nothing herein contained shall constitute as entitling the Allottee/Purchaser any right on any of the adjoining, neighbouring or the remaining buildings/common areas etc. of the remaining portion of the proposed project layout unless 28 specifically agreed and consideration dispensed by the Allottee/Purchaser to the OWNER/VENDOR in this regards. xv. That, from the date of possession of Flat/Shop, the Allottee Flat/Shop Purchaser will be bound to pay all the taxes of local authority and other taxes attributable to the Flat/Shop purchased by him, whether assessed separately or not. Similarly from the date of sale deed or possession whichever is earlier, the Allottee/Flat/Shop Purchaser is liable to pay common maintenance charges without any demur, either he may use or not use the said Flat/Shop personally or through anybody claiming through him. xvi. That the Allottee/Flat/Shop Purchaser will also be liable to pay all the expenses required for the execution and registration of the conveyance deed in his favour. That the purchaser of Shop is liable to pay Rs.50,000/- and purchaser of Flat is liable to pay Rs.50,000/- towards one time initial corpus fund for common maintenance deposit, this amount collected and deposit in separate account and OWNER/VENDOR have no concern with the same and in addition to this, the Purchaser is liable to pay monthly contribution of Rs.____________/- without any demur. The OWNER/VENDOR will do common maintenance of the project only for 06 months from the date of first possession handover to any of the purchaser in the project and after 06 Months, all the Allottee/Flat/Shop Purchaser’s shall do the work of maintenance work on their own, even they use or not use the said unit and Owner/Vendor will not be responsible in any manner. 27. The Allottee/Purchaser has inspected the sanctioned plans of the said Building of the said Project and the conditions stipulated therein by the Planning Authority and the Allottee/Purchaser shall not raise any complaint / objections of whatsoever nature and shall abide by the same all time, and after having covenanted to that effect in favour of the OWNER/VENDOR, the Allottee/Purchaser has agreed to purchase the said Flat/Shop from the OWNER/VENDOR. 28. The Aurangabad Municipal Corporation Aurangabad provided potable water in said building at present and also 29 bore well on which motor installed at present sufficient water available, in case in future any shortage of water in that situation all the allottees/Purchaser shall make arrangement at their own cost. The OWNER/VENDOR shall not be in any way responsible for non-supply or inadequate supply of water to the Project. 29. The Allottee/Purchaser shall not use or permit to be used the said Flat/Shop or any part thereof for any purpose other than purpose as allowed by Planning Authority at the time of sanctioning the plan of the proposed building/s or at any time thereafter. 30. The Allottee/Purchaser shall not let, sublet, transfer, assign or part with the possession of the said Flat/Shop or any part thereof nor shall the Allottee/Purchaser create any lease, lien, mortgage, charge and/or any other encumbrances and/or third party interest in and/or any respect of the said Flat/Shop or any part thereof and/or in respect of any of the rights hereunder conferred upon the Allottee/Purchaser in any manner whatsoever until entire consideration and all dues, taxes and GST at actual etc. payable by the Allottee/Purchaser under this agreement are paid in full and only if the Allottee/Purchaser has/have not committed any breach of any of the term and condition of this agreement and without obtaining previous permission in writing of the OWNER/VENDOR to whom the said Property/Project Land and the said Building thereon may have been leased, assigned or transferred in the manner inter alia hereby envisaged. 31. After the OWNER/VENDOR executes this Agreement he shall not mortgage or create a charge on the said Flat/Shop and if any such mortgage or charge is made or created then notwithstanding anything contained in any other law for the time being in force, such mortgage or charge shall not affect the right and interest of the Allottee/Purchaser who has/have taken or agreed to take such Flat/Shop. 32. If the Allottee/Purchaser is purchasing the said Flat/Shop from the OWNER/VENDOR for investment purpose, then the 30 Allottee/Purchaser shall be entitled to sell the said Flat/Shop even during the construction stage to any person of own choice. The Owner/Vendor shall issue in his favour necessary No- Objection Certificate to that effect and also shall co-operate the Allottee/Purchaser in that regard, provided i) the Allottee/Purchaser pays entire consideration amount to the Owner/Vendor before so selling the said Flat/Shop, and ii) the subsequent Allottee/Purchaser of the said Flat/Shop absolutely consents to abide by all terms and condition of this Agreement and also Deed of Declaration executed by Owner/Vendor for all purposes and unconditionally agrees to stand in the shoes of the Allottee/Purchaser. If the Allottee/Purchaser transfers/ assigns the said Flat/Shop in favour of the subsequent Allottee/Purchaser within stipulated period laid down by relevant law/s time being in force the Allottee/Purchaser subsequent Allottee/Purchaser will be entitled to applicable discount, if any, by way of adjustment in the stamp duty payable on the transaction, subject to prevailing provisions of the Maharashtra Stamp Act, 1958. 33. The Allottee/Purchaser prior to the execution hereof has/have perused (a) all the documents under which the OWNER/VENDOR acquired the ownership rights in respective portions of the said Property, (b) all documents under which the OWNER/VENDOR acquired title and ownership rights over the said Property and to sell the Flat/Shop constructed by the OWNER/VENDOR in the course of such development of the said Property and (c) all the orders, permissions and/or sanctions granted by the diverse authorities for such development of the said Property and are satisfied with the legality and adequacy of the same. 34. The Builder/Developer shall maintain a separate account in respect of sums received by the Builder/Developer from the Allottee as advance or deposit, sums received on account of the share capital for the promotion of the Co-operative Society or association or Company or towards the out goings, legal charges and shall utilize the amounts only for the purposes for which they have been received. 31 35. The Owner/Vendor hereby declares that as per the prevailing Development Control Regulation the total FSI in respect of the said Property is admeasuring _____ Sq.Mt., Purchased TDR ______ Sq.Mt. and received FSI _____ Sq.Mt. in respect of area affected in 15 Meter DP Road and Owner/Vendor as per permission granted by Collector Aurangabad consumed FSI admeasuring _____ Sq.Mt. 36. The Allottee/Purchaser shall use the Flat/Shop or any part thereof or permit the same to be used only for purpose of commercial as well residence only. He shall use the parking space only for purpose of keeping or parking vehicle only. 37. The all the Allottee/Purchaser shall join in forming and registering the Association or Society or maintenance society to or some such name as the Owner/Vendor may decide and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the formation and registration of the Society and for becoming a member, including the bye-laws of the proposed Society and duly fill in, sign and return to the Owner/Vendor within seven days of the same being forwarded by the Owner/Vendor to the Allottee/Purchaser, so as to enable the Owner/Vendor to register the common organisation of Allottee/Purchaser. No objection shall be taken by the Allottee/Purchaser if any changes or modifications are made in the draft bye-laws, or the Memorandum and/or Articles of Association or Deed of Declaration as may be required by the Registrar of Co- operative Societies or the Registrar of Companies, as the case may be, or any other Competent Authority. 38. As mentioned herein above, a single Association or Co- operative Housing Society shall be formed and registered for the building as and when required. The Owner/Vendor shall submit the application to the Registrar for registration of the Co-operative Housing Society under the Maharashtra Co- operative Societies Act, 1960 within three months from the date on which fifty one per cent of the total number of 32 Allottee/Purchaser in such a Flat/Shop have booked this Flat/Shop. 39. The Owner/Vendor shall execute conveyance in respect of the entire undivided or inseparable land underneath all building, in favour of a Co-operative Housing Society if needed, on or before ______/____/20 subject to force majeure or the circumstances beyond the control of the Owner/Vendor and also subject to reasonable extension and also subject to the Rights of the Owner/Vendor to dispose off the remaining Flat/Shop’s, if any, Provided that, after conveying the title to the association of Allottee/Purchaser as mentioned in above, the Owner/Vendor shall continue to have the rights and entitlement to advertise, market, book, sell or offer to sell or allot any Flat/Shop or building which is still not sold or allotted and shall be allowed to do so by the Co- operative Housing Society without any restriction on entry of the building and development of common areas: Provided further that, in such case, the Owner/Vendor shall be permitted the entry of premises of the building and common areas to also discharge his obligations to rectify the defects as mentioned here in above. 40. Under no circumstances, the Allottee/Purchaser or the organization of the Allottee/Purchaser shall be entitled to such conveyance, unless all or any money payable in the agreement or as may be otherwise agreed, by the Allottee/Purchaser including in their share of contribution in maintenance charges either to the Owner/Vendor or to any other agencies or authorities, is actually paid by such Purchaser/ organization of purchasers, All expenses relating to such conveyance such as stamp duty, registration fees and other incidentals shall be borne and paid exclusively by the Allottee/Purchaser only. 41. The Conveyance of Title as envisaged under the Real Estate (Regulation and Development) Act, 2016 and rules there under in respect of the said Flat/Shop shall be as under :- 1. The said Project shall be known and called as “ADINATH SANKUL”. 33 2. This Agreement shall always be subject to the provisions of the Real Estate (Regulation and Development) Act, 2016 and The Maharashtra Apartment Ownership Act 1970 and rules there under. 3. That Owner/Vendor after completion of the said Project as per provisions of The Maharashtra Apartment Ownership Act 1970, the promoter will form and register Association or Co- operative society. The Allottee/Purchaser shall observe rules and regulations of the Society. 4. The amenities/facilities, common areas and rights of ways et cetera as enlisted in Annexure-I shall be enjoyed by all the Allottee/Purchaser of said Project jointly, unless the Owner/Vendor has provided otherwise. After completion of the said Project the common areas and amenities/facilities as enlisted in the Annexure-I shall be handed over by the Owner/Vendor Allottee/Purchaser and they shall maintain the same. The cost of stamp duty and registration fees and other incidental costs in this regard shall be borne by the respective Flat/Shop Allottee/Purchasers. 5. Under no circumstances, the Allottee/Purchaser shall be entitled to such conveyance, unless entire amount of total consideration or any other amounts of money payable under this Agreement or as may be otherwise agreed, by the Allottee/Purchaser either to the Owner/Vendor or to any other agencies or authorities are actually paid by the Allottee/Purchaser. 42. The Owner/Vendor shall give membership of the Allottee/Purchaser only on receiving entire consideration and/or other dues and deposits from him. Further the Allottee/Purchaser shall sign necessary forms, papers and documents as per the direction of the Owner/Vendor as and when required by the Owner/Vendor. 43. The Allottee/Purchaser shall on or before delivery of possession of the said Flat/Shop keep deposited and paid with the Owner/Vendor, the following amounts:- 34 (i) Rs. _________/- for share money, application entrance fee of the Society or condominium or Limited Company/Federation/ Apex body. (ii) Rs. _________/- for formation and registration of the Society or condominium or Limited Company/Federation/ Apex body. (iii) Rs.________/- for proportionate share of taxes and other charges/levies in respect of the Society or condominium or Limited Company/Federation/ Apex body. (iv)Rs. _________/- for electric connection, infrastructure, meter charges, cabling as well sub-station to be provided in said project formation. (v) The Allottee/Purchaser shall pay to the Owner/Vendor a sum of Rs. ___________________ for meeting all legal costs, charges and expenses, including professional costs of the Attorney-at-Law/Advocates of the Owner/Vendor in connection with formation of the said Society, or Limited Company, or Apex Body or Federation and for preparing its rules, regulations and bye-laws and the cost of preparing and engrossing the conveyance or assignment of lease. (vi) That the purchaser of Shop is liable to pay Rs.50,000/- and purchaser of Flat is liable to pay Rs.50,000/- on account of corpus amount towards common maintenance charges payable within 15 days from the date of letter of offering possession of the said Flat/Shop to meet the common expenses i.e. common taxes, fees, electricity charges, all AMCs, sanitary and other utility services, garden and other services and amenities of the said Property/Project Land and in the building/s standing thereon and the said Property/Project Land including remuneration, salaries and wages of watchmen, supervisors, sweepers, gardeners and other persons that 35 may be employed for the aforesaid purposes or any of them and in respect thereof and the Allottee/Purchaser shall not withhold any payment of the amount demanded by the Owner/Vendor under this clause on any ground whatsoever. The Allottee/Purchaser hereby admits that aforesaid amount of maintenance is only indicative amount and actual amount that may be demanded by the Owner/Vendor may differ. In case actual expense exceeds the estimate the Owner/Vendor shall be entitled to demand additional amount towards such short fall. The Allottee/Purchaser admit/s and confirm/s that he/she/they will be punctual for paying contribution of maintenance charge amount to Owner/Vendor or. The Allottee/Purchaser shall not be entitled to any interest on sums so paid. 44. It is explicitly and irrevocably agreed, by the Allottee/Purchaser that this purchase by the Allottee/Purchaser is as Joint Tenants and not Tenants in common. Hence, in the event of death of any of the Allottee/Purchaser on receipt of intimation thereof with required evidencing documents, by the Joint Allottee/Purchaser, the name of such deceased Allottee/Purchaser shall be deleted and the ownership shall completely vest exclusively with Joint Allottee/Purchaser and to exclusion of any other heirs of such deceased Allottee/Purchaser. However it is explicitly made clear that if any claimant other than the executants in this Agreement claims, rights, title and interest in the said Flat/Shop then it is the sole responsibility of the remaining Co-Allottee/Purchaser to settle dispute/disagreement in respect of this covenant and same has to be settled at the cost of the remaining Co- Allottee/Purchaser. The Owner/Vendor is not responsible in any manner whatsoever for cost & consequence. 45. Any delay tolerated, indulgence shown by the Owner/Vendor in enforcing the terms of this Agreement or for any forbearance or giving of time to the Allottee/Purchaser by 36 the Owner/Vendor shall not be considered or construed as a waiver on the part of the Owner/Vendor of any breach or non- compliance of any of the terms and conditions of this Agreement by the Allottee/Purchaser nor shall the same in any manner prejudice the rights of the Owner/Vendor. 46. Nothing contained in this Agreement is intended to be nor shall be construed as a grant, demise or assignment in law, of the said Flat/Shop or of the said Property and Building/s or any part thereof. The Allottee/Purchaser shall have no claim save and except in respect of the Flat/Shop hereby agreed to be sold to him and all open spaces, parking spaces, lobbies, staircases, terraces, recreation spaces, will remain the property of the Owner/Vendor, until the conveyance is made in favour of the society, as envisaged hereinbefore. It is further certifies that the Owner/Vendor already submitted this project “ADINATH SANKUL” to Apartment Ownership Act 1970 by executing Deed of Declaration U/s. 2 A of said act, as per provisions of 10 (2) Maharashtra Ownership Flat (Regulation of the promotion of. 3. construction, sale, management and transfer) Act, 1963, If any property consisting of building or buildings is constructed or to be constructed 2 [and the promoter submits such property to the provisions of the Maharashtra Apartment Ownership Act, 1970, by executing and registering a Declaration as provided by that Act] then the promoter shall inform the Registrar as define in the Maharashtra Co-operative Societies Act, 1960, accordingly; and in such cases, it shall not be lawful to form any co- operative society or company. In view of these legal position the Owner/Vendor if necessary will execute conveyance if favour of propose Association or society or apex body as and when required. 47. The Allottee/Purchaser shall not any time demand partition of his/her/their interest in the said Flat/Shop and/or in the said Property/ Building prior to the conveyance as envisaged herein and it is hereby agreed and declared that the interests of the Allottee/Purchaser in the said Flat/Shop and/or in the said Property / Building are impartible and it is agreed that 37 the Owner/Vendor shall not be liable to execute and/or cause to be executed any conveyance or any other document in respect of the said Flat/Shop in favour of the Allottee/Purchaser except as is herein expressly provided. 48. All direct and indirect taxes as imposed/ to be imposed by the government, semi-government, local authorities, any statutory body, et cetera in respect of the said Property / Building and/ or the said Flat/Shop and/ or this Agreement and/ or this transaction shall be borne and paid exclusively by the Allottee/Purchaser. The Allottee/Purchaser hereby undertake to indemnify and keep the Owner/Vendor indemnified all the time and keep the Owner/Vendor harmless from all losses that may be suffered by the Owner/Vendor on account of non-payment and/ or delayed payment inter alia of maintenance charges, contributions, taxes, levies, outgoings et cetera and other defaults, or any breach of terms and conditions of this Agreement on part of the Allottee/Purchaser. 49. By reasons of any judgment of court of law or amendment to the constitution or enactment or amendment of any other Central or State Laws at present in force or under law(s) that may come in force in future, if the transaction under this Agreement is held liable now or any time in future, to taxes such as GST et cetera under concerned Acts/Rules/ Legislations et cetera, as a sale or otherwise, either wholly or in part any inputs or material or equipments used or supplied in execution or in connection with this transaction, such taxes shall be exclusively payable by the Allottee/Purchaser on demand at any time without rendering either the Owner/Vendor and/or the Owner/Vendor liable in this behalf in any manner whatsoever. In such an event the Owner/Vendor shall have the right to recover/collect, such tax(es), duties by the Allottee/ Purchaser. 50. The Allottee/Purchaser hereby agrees that till the management of the said Building of the said Project is handed over to all the Allottee/Purchaser participating in the said Project, the Owner/Vendor shall be entitled to look after 38 day to day maintenance of the said Project/Building to be constructed on the said Property up to 06 Months from handing over 1st possession of Flat/Shop. 51. The Allottee/Purchaser has willingly participated in the said Project of the Owner/Vendor and Allottee/Purchaser shall pay to the Owner/Vendor the agreed total consideration and other deposits or outgoings punctually and diligently. The Allottee/Purchaser hereby indemnify the Owner/Vendor from all losses that may be incurred by the Owner/Vendor on account of such non/delayed payment and Allottee/Purchaser hereby indemnify to keep the Owner/Vendor harmless and free from such losses. 52. The Owner/Vendor shall not be responsible for the consequences arising out of change in law or change in Municipal and other law, rules, regulations etc. 53. All notices to be served on the Allottee/Purchaser in connection with this Agreement shall be deemed to have been duly served on the Allottee/Purchaser if sent to any one of the Allottee/Purchaser by Registered Post/ Speed Post / E- mail at following address: Name & Address of Allottee/Purchaser :- ________________________________ ________________________________ ________________________________ ________________________________ Notified Email ID: ______________________________ 54. All notices to be served on the Owner/Vendor in connection with this Agreement shall be deemed to have been duly served on the Owner/Vendor if sent by Registered Post/ Speed Post at their following address: Name of OWNER/VENDOR:- M/s. Adinath Developers, A partnership firm registered under Indian Partnership Act 1932 having its principal place of 39 business at Garkheda Aurangabad. Notified Email ID: ______________@___________ It shall be the duty of the Allottee/Purchaser and the Owner/Vendor to inform each other of any change in address subsequent to the execution of this Agreement in the above address by Registered Post failing which all communications and letters posted at the above address shall be deemed to have been received by the Owner/Vendor or the Allottee/Purchaser, as the case may be. Further, that in case there are Joint Allottee/Purchaser all communications shall be sent by the Owner/Vendor to the Allottee/Purchaser whose name appears first and at the address given by him/her which shall for all intents and purposes to consider as properly served on all the Allottee/Purchaser . 55. The Allottee/Purchaser shall pay adequate stamp duty, registration charges and present this Agreement as well as Sale Deed at proper registration office within the time limit prescribed by the Registration Act and the Allottee/Purchaser and the Owner/Vendor shall attend such office and admit execution thereof. 56. In case the Allottee/Purchaser mortgages the said Apartment to any financial institution it shall be the sole responsibility of the Allottee/Purchaser herein to handover the original Agreement or any final document of the said Apartment as and when executed and registered to the financial institution. The Allottee/Purchaser agree to do so without holding the Owner/Vendor responsible for the same and not to deal with the said Apartment without prior permission and consent of the financial institution during pendency of the charge. 57. This Agreement, along with its schedules and annexure, constitutes the entire Agreement between the Parties with respect to the subject matter hereof and supersedes any and all understandings, any other agreements, allotment letter, 40 correspondences, arrangements whether written or oral, if any, between the Parties in regard to the said Flat/Shop. 58. It is clearly understood and so agreed by and between the Parties hereto that all the provisions contained herein and the obligations arising hereunder in respect of the said Project shall equally be applicable to and enforceable against any subsequent Allottee/Purchaser of the said Flat/Shop, in case of a transfer, as the said obligations go along with the said Flat/Shop for all intents and purposes. Further, the Allottee/ Purchaser/s agree that they shall not object to any easement rights that need to be given to any person in and around the said Project and shall neither object to any such proceedings of land acquisition undertaken by the a government agency including any compensation/benefit given to the Owner/Vendor in turn for which no conveyance has occurred to the ultimate body of Flat/Shop Allottee/Purchaser expressly stated in this Agreement and for which no consideration is specially dispensed by the Allottee/Purchaser to the Owner/Vendor for the same; save and except his right to enjoy and use the Apartment purchased by him and any other rights given by the Owner/Vendor to the Allottee/Purchaser for which consideration has been dispensed. 59. If any provision of this Agreement shall be determined to be void or unenforceable under the Act or the Rules and Regulations made there under or under other applicable laws, such provisions of the Agreement shall be deemed amended or deleted in so far as reasonably inconsistent with the purpose of this Agreement and to the extent necessary to conform to Act or the Rules and Regulations made there under or the applicable law, as the case may be, and the remaining provisions of this Agreement shall remain valid and enforceable as applicable at the time of execution of this Agreement. 60. Wherever in this Agreement it is stipulated that the Allottee/Purchaser has to make any payment, in common with other Allottee/Purchaser in said Project, the same shall 41 be in proportion to the carpet area plus enclosed balcony area (if any) of the said Apartment to the total carpet area plus total balcony area (if any) of all the Apartments of the said Project, such area is called as Sharing area. 61. Both Parties agree that they shall execute, acknowledge and deliver to the other such instruments and take such other actions, in additions to the instruments and actions specifically provided for herein, as may be reasonably required in order to effectuate the provisions of this Agreement or of any transaction contemplated herein or to confirm or perfect any right to be created or transferred hereunder or pursuant to any such transaction. 62. Any dispute between parties shall be settled amicably. In case of failure to settle the dispute amicably, which shall be referred to the Real Estate Regulatory Authority as per the provisions of the Real Estate (Regulation and Development) Act, 2016, Rules and Regulations, there under. 63. That the rights and obligations of the parties under or arising out of this Agreement shall be construed and enforced in accordance with the laws of India for the time being in force and the ‘Aurangabad courts’ will have the jurisdiction for this Agreement. 64. This Agreement may only be amended through written consent of the Parties. 65. The Owner/Vendor has handed over Search Report and Title Opinion to the Allottee/Purchaser separately as per provisions of the said Act and the contents of the said Search Report forms part and parcel of this Agreement. 66. The cost of Stamp Duty, Registration fees and other incidental and ancillary cost in respect of this Agreement have been as agreed, exclusively borne and paid by the Allottee/Purchaser. SCHEDULE “A” That all the part and parcel of the Property Plot No. 19, 20 & 21 totally admeasuring 863.99 Sq.Mt., forming Part of Survey No. 51/2/A & 51/4 Situated at Garkheda, Tq. Dist. Aurangabad bounded by : 42 Towards East : Towards West : Towards North : Towards South : SCHEDULE- B All that part and parcel of Flat/Shop bearing No. ___, admeasuring ________ Sq.Mt. Carpet area, (Built-up area _____ Sq.Mt.) open and enclosed balcony/CB/Terrace area ______ Sq.Mt. along with ______ Sq.Mt. P-Line and ________ Sq.Mt. area for 7/12 extract, on ______ Floor, in ADINATH SANKUL (Undivided % In Common area _____ %) as a unit consisting Two Rooms and WC, Bath constructed on above property, bounded by: TOWARD EAST :- TOWARD WEST :- TOWARD SOUTH :- TOWARD NORTH :- IN WITNESS WHEREOF, THE PARTIES HERETO HAVE EXECUTED THIS AGREEMENT ON THE DATE AND AT THE PLACE HEREIN BEFORE FIRST MENTIONED HERE IN UNDER AT AURANGABAD OWNER M/s. Adinath Developers Through its Partners 1. Mr. Atul Sureshchand Kasliwal 2. Mr. Shailesh Zumbarlal Rawka 3. Mr. Anand Vijaykumar Patni ALLOTTEE/PURCHASER 43 MR./MRS. WITNESSES :- 1. AGE. OCC. R/O. 2. AGE. OCC. R/O. LIST OF ANNEXURE,S ANNEXURE – A Copy of detailed Title Cum Search report issued by Advocate P D Kulkarni in respect of Property Plot No. 19, 20 & 21 totally admeasuring 863.99 Sq.Mt., forming Part of Survey No. 51/2/A & 51/4 Situated at Garkheda, Tq. Dist. Aurangabad. ANNEXURE –B Copy of 7/12 Extract of Property Plot No. 19, 20 & 21 totally admeasuring 863.99 Sq.Mt., forming Part of Survey No. 51/2/A & 51/4 Situated at Garkheda, Tq. Dist. Aurangabad. ANNEXURE –C Copy of Sanctioned Building Permission obtained from Aurangabad Municipal Corporation, Aurangabad. ANNEXURE – C-1 Copy of Index-II of registered Deed of Declaration U/s. 2-a of Apartment ownership Act 1970. 44 ANNEXURE -D Copy of Part Plan/Floor Plan in respect of Flat/Shop agreed to purchase under this agreement of sale. ANNEXURE –E List of Specification of construction of Apartment Building as well common area and facilities’ including brand and specification etc. ANNEXURE -F Copy of the Registration Certificate issued in respect of residential cum commercial Apartment granted by The Real Estate Regulatory Authority. ANNEXURE -G List of items that would be covered as maintenance of project, which is not covered under defect liability. ANNEXURE-H List of Common Amenities to be given in said project. RECEIPT/ACKNOWLEGEMENT Received of and from the Allotee/Purchaser Mr._________________ the sum of Rs.__________/- on booking as well on execution of this agreement towards earnest money deposit or application fees. I received all documents. I Received amount. Mr. Mr. Allottee/Purchaser. Owner/Vendor WITNESSES :- 45 1. Mr. AGE. OCC. R/O. 2. Mr. AGE. OCC. R/O.