Zone No. : 4.2 Flat Rate : 30,700/ - Area of Flat : ______ sq.mtrs. Carpet Government Valuation : Rs. ____________/ - Consideration : Rs. ___________/ - Stamp Duty : Rs. _________/ - Regist ration Fees : Rs. ________/ - AGREEMENT FOR SALE This Agreement for Sale is made & ex ecuted on this day of February in t he Christian year 2018 at Nashik. BY AND BETWEEN INNOVATIVE VENTURES, PAN NO. AAFFI5051E, a partnership firm, having it ’s office at 2, Shriman Apartment , Pandit Colony, Nashik, throug h it ’s partners, 1) MR. JITENDRA BABANRAO WANI, age- 48, occu - business, 2) MR. RAHUL UTTAM PATEL , age-36, occu-business, Hereinaft er referred to as the “PROMOTERS/DEVELOPERS” {which expression shall unless it be repugnant to t he cont ext or meaning ther eof mean and include it’s ot her partners, their respect ive heirs, successors -in-interest, executors, administ rators, represent atives, permitted assigns etc. and all the persons claiming through them,} of t he FIRST PART; AND MR. _______________ age-_____, Occu-_________ PAN NO._____________ R/o. _________________________________ Hereinaft er referred to as the “ALLOTTEE/PURCHASER” {which expression shall unless it be repugnant to the cont ext or meaning thereof mean and include his/her/t heir heirs, success ors-in- interest, executors, administrators, representat ives, permitted assigns et c. and all the persons claiming through him} of the OTHER PART; The Promot ers and Allott ee/Purchaser shall hereinaft er collect ively be referred to as the “Parties” and indivi dually as “P arty”. 2 WHEREAS the Promoters are the absolute owners and absolutely seized and possessed and otherwise well and sufficient ly entitled to a non-agricultural piece of land bearing Gat No.222/1A, Plot No.23, adm.869.50 sq.mtrs., (act ual on sit e adm.702.27 sq.mtrs.), of village Ambad Khurd, wit hin the limits of Nashik Municipal Corporation, Nashik and which is more particularly described in SCHEDULE - I writt en hereunder and hereinafter referred to as “THE SAID PROPERT Y”. AND WHEREAS The property Gat No .222/1A, Plot No.23, adm.869.50 sq.mtrs., (act ual on sit e adm.702.27 sq.mtrs.), of village Ambad Khurd is owned by Shri. Anil Somnat h Dhumal. Shri Anil Somnath Dhumal grant ed t he rights of development of the said property to t he promoters by a Development Agreem ent dated 27/07/2016 and also appoint ed the promoter as their attorney. The said Development Agreement and Power Attorney has been regist ered in t he office of Sub -Regist rar, Nashik at serial No. 6520 and 6521 respectively on 09/08/2016. AND WHEREAS by virtue of the above Development Agreement, the Promoters have acquired each and every right & authority to deal, develop or dispose -off the said property, to construct a building thereon and the Promot ers herein alone has sole and exclusive right to sell the Flat s/ Apart ment s/ Tenament s/Family Units in t he said building t o be constructed by t he Promot ers on the said property and are fully competent to enter into Agreement for Sale/Sale Deed of t he tenament s/family units, wit h the prospective Purchasers at the price and terms and conditions as Promoters may deem fit and appropriate t he sale proceeds t hereon. AND WHEREAS the Promoters has completed all t he legal formalit ies wit h respect to t he right, title and interest in respect of the said property on which t he said building is to be const ruct ed the Promoters is in possession of t he said Property. AND WHEREAS the Promoters have decided to develop and const ruct the multist oried building consisting residential units to be known in the name & style as “SHANTI NIKETAN”, consist ing of 3 Ground, parking plus six upper floors on the said property (hereinaft er referred to as "THE SAID BUILDING"). AND WHEREAS The Promoters declare and discloses t hat the said project as aforesaid will be subject to t he provision of Maha rasht ra Apartment Ownership Act 1970 and the Maharashtra Ownership Flat (regulation of the promotion of the const ruct ion, sale, management & transfer) Act 1963. And for t hat purpose the necessary Declarat ion of Apart ment will be regist ered and in accordanc e with the provision of t he said Act so also aft er the regist rat ion of declaration, the Promoters will ex ecute and register Deed of Apartment in respect of t he said Flat /Apartment in favor of the Allott ee/Purchaser. The P romot ers declares that the said pro perty along with the said building to be constructed thereon shall be governed by t he said act and t he Allott ee/Purchaser or the other persons claiming there under will be bound by the provision of said act. AND WHEREAS the Promoters have ent ered into a s t andard agreement with its Archit ect MR. Vijay Sanap who is registered with the council of Archit ect ure and such agreement is as per t he agreement prepared by the Council of Archit ecture and the Promoters have appointed MR. Vi jay Sanap as a st ructural engi neer for the preparation of struct ural design and drawing of the said building. The Promot ers accept s the professional supervision of the Archit ect and t he struct ural Engineer t ill the completion of t he said building. AND WHEREAS the Promoters have also purchased T.D.R. area of 459.59 sq.mt rs. as per Valuat ion base T.D.R. as described more particularly in the deed, out of Certificat e No. 758 dated 16/05/2017 issued by Nashik Municipal Corporation, Nashik from the holder Mr. Sandeep Ha ribhau Jadhav vide sale deed dated 27/09/2017, for using the same for construct ion of building on the said property. The said Sale Deed is duly registered at t he Office of Sub -Registrar, Nashik at Sr. No. 5276 on 27/09/2017. AND WHEREAS the Promoters t hro ugh their Architect have prepared building plan of the proposed building to be const ruct ed on the said property by using the said T .D.R. and got it approved from the Nashik Municipal Corporation, Nashik vide sanct ion of 4 Building Permit & Commencement Certi ficat e vide Lett er No. LND/BP/B2/552/14364 dtd. 25/01/2018 issued by Executive Engineer, Town Planning, Nashik Municipal Corporation, Nashik. The Promoters have accordingly commenced the Const ruction of the said building in accordance with t he above sancti oned building plan. AND WHEREAS if required, the Promot ers will regist ered the said Project under t he provisions of the Real Estate (Registration and Development ) Act, 2016 with t he Real Estate Regulatory Aut hority. AND WHEREAS the plans and specificatio n have been displayed for the inspect ion of the purchasers at the site and also in the office of Promot ers. AND WHEREAS t he Allott ee/Purchaser being interest ed, has offered to t he P romoters for the purchase of t he Flat /Apartment bearing Flat No. _______ s ituated on ________ Floor, having carpet area adm easuring ________ sq.ft. i.e. _ _____ sq.mtrs. (approx) in the said building known as “SHANTI NIKETAN”, which is to be construct ed on the said property and which is more part icularly described in SCHE DULE - II writt en hereunder and hereinaft er referred t o as "THE SAID FLAT / APARTMENT". AND WHEREAS the Allott ee/Purchaser have demanded from the Promoters and the Promoters have given inspection and delivered to the Allott ee/Purchaser t he copies of all t he docu ments of title relating to t he said property, Tit le Certificat e of advocate, 7/12 extracts and other relat ed revenue records showing t he nat ure of the title of t he Promoters to t he said property, The Plans, Designs and Specifications prepared by the Archit ect of the P romot ers and of such document s which are specified under Maharasht ra Ownership Flats (Regulation of promot ion of const ruction, sale, Management & Transfer) Act 1963 (hereinaft er referred to as the said Act ) & rules made there under, as well as of such other documents as are specified under the Real Estat e (Regulation and Development ) Act 2016 and t he Rules and regulations made thereunder, aft er the Allottee/P urchasers enquiry, t he P romoters herein has request ed to the Allott ee/Purchaser to carry out independent search by appointing his advocate and to ask any 5 queries, he have regarding the marketable title and rights and authorities of the Promoters. The Allott ee/Purchaser have satisfied himself in respect of marketable tit le of the said property and the rights and authorities of t he P romoters herein. T hat the Allott ee/Purchaser has given his specific confirmation herein that the responsibility of the t itle of the said property be on the Promoters up and until the conveyance of the said building a nd the said property t hereunder. AND WHEREAS the aut henticat ed copies of Certificat e of Title issued by the advocate of t he Promoters, authent icated copies of Property card or extract of Village Forms or any other relevant revenue rec ord showing the nat ure of t he title of the Promot ers to the said property on which the Apart ment is const ructed or is to be const ructed have been annexed hereto. AND WHEREAS the authent icated copies of the plans of the Layout of t he said building/property as approved by t he concerned Local Aut hority have been annexed heret o. AND WHEREAS the authent icated copies of the plans of the layout /building plan as proposed by the P romoters and according to which the const ruction of the building and open spaces is proposed to be provided for on the said property have been annexed hereto. AND WHEREAS the aut henticat ed copies of t he plans and specifications of the Apart ment/Flat agreed to be purchased by the Allott ee/Purchaser, as sanct ioned and approved by t he local authority have been annexed hereto. AND WHEREAS the P romot ers has obtained some of the sanctions/approvals from the concerned local authorit ies to the plans, the specifications, elevations, sect ions and of the said building and shall obtain t he balance a pprovals from t he various authorities from time to time, so as to obtain building completion certificate or occupancy certificate of the said building. AND WHEREAS while sanctioning t he said plans concerned local authority and / or Government has laid dow n cert ain terms, condit ions, stipulations and rest rictions which are to be observed and performed by the Promoters while developing the said property 6 and t he said building and upon due observance and performance of which only the completion and occupation certificate in respect of the said building shall be grant ed by the concerned local aut hority. AND WHEREAS the Promoters has in compliance with rules, regulations and rest rict ions of the concerned local aut hority which are to be observed and performed by the Promoters while const ructing/developing t he said building has accordingly commenced construction/development of the same. AND WHEREAS the Allott ee/Purchaser has agreed to purchase the said Flat based on going through all the conditions st ated in the sanctioned plans by respective competent authorities and have furt her confirmed t hat all such condit ions shall be bound and abided by t he Allott ee/Purchaser strictly. AND WHEREAS the Allottee/P urchaser has independently made himself aware about the specif ications provided by the Promoters and he is aware of t he limitat ions, usage policies and maint enance of the installed it ems, fixtures and fittings of the same. AND WHEREAS the Allott ee/Purchaser has been shown the condit ions of cont racts with t he cont rac t ors/manufactures and workmanship and quality stands of products/fittings and fixtures as agreed bet ween t he Promoters and the suppliers and on independent ly verifying the same t he Allottee/P urchaser has now agreed to the same as condit ions ment ioned in t h ese contracts and that the Allott ee/Purchaser agrees to abide by the same failure of which shall absolve t he Promoters to t hat extent. AND WHEREAS the Allott ee/Purchaser has applied to the Promoters for purchase of Flat/Apartment bearing Fl at No. _________ situated on _____ Floor, having carpet area admeasuring _____ sq.ft. i.e. _____ sq.mtrs. (approx) in the said building known as “SHANTI NIKETAN”, which is to be const ructed on the said property and which is more part icularly described in SCHE DULE - II writt en hereunder and hereinaft er referred to as "THE SAID FLAT / APARTMENT". AND WHEREAS relying upon t he aforesaid applicat ion, the Promoters has agreed to allot and sell to the Allottee/Purchaser, 7 the said Flat at the price and on the terms, conditions, covenant s, stipulations and provisions hereinaft er appearing. AND WHEREAS the carpet area of t he said Apartment is ________ sq.mtrs. (approx) and "carpet area" means the net usable floor area of an apartment, excluding the area covered by the ex ternal walls, areas under services shaft s, exclusive balcony appurtenant to the said Apartment for exclusive use of the Allottee/Purchaser or verandah area and exclusive open terrace area appurtenant to the said Apartment for exclusive use of the Allottee/P urchase r, but includes t he area covered by t he internal part ition walls of the apart ment. AND WHEREAS, prior to t he execut ion of t hese presents the Allott ee/Purchaser has paid to the Promoters a sum of Rs. __________/- (Rupees ___________________ Only) being part payment of t he sale consideration of the Apartment agreed to be sold by t he Promoters to the Allot tee/Purchaser as advance payment or applicat ion fee or Deposit (the payment and receipt whereof t he Promot ers both hereby admit and acknowledge) and the Allottee/P urchaser has agreed to pay to the Promoters the balance of the sale consideration of the Apartment as prescribed in the payment plan as may be demanded by the Promot ers within the time and t he manner specified t herein. AND WHEREAS the parties have gone through all the t erms and condit ions set out in this Agreement and understood the mutual rights and obligat ions detailed herein; The P arties hereby confirm that they are signing this Agreement with full knowledge of all the laws, rules, regulat ions, not ifications, etc. applicable to the said building. AND WHEREAS under section 4 of t he Maharasht ra Ownership Flats (Regulation of the promotion of const ruction, sale, management & transfer) Act 1963, and under section 13 of the Real Estat e (Regulat ion a nd Development) Act 2016, t he Promoters are required to execute written agreement for sale of the said Flat in favour of the Purchaser being in fact this present & also to regist er t he said agreement under t he Registrat ion Act, 1908. Notwit hstanding anyt hing st ated in any other document/allotment /letter given or communicated with the 8 Allott ee/Purchaser any time prior, t his Agreement shall be considered as the only document and its condit ion shall be read as the only conditions valid and basis for which t h e said Flat is agreed to be sold to t he Allottee/Purchaser. AND WHEREAS this agreement shall remain in force and shall not merge into any ot her agreement save and except the conveyance deed as st ated herein below. AND WHEREAS this agreement does not prec lude, diminish the rights of any financial inst itutions funds, regist ered money lender for which finance has been taken for the project and t he same can be claimed by them under t he st atutory claims and t hat t his does not in any way affect the right s of th e Allottee/Purchaser in respect of their unit in t he said project. AND WHEREAS, the Part ies relying on the confirmations, represent ations and assurances of each other to fait hfully abide by all the terms, conditions and st ipulations cont ained in this Agreement and all applicable laws, are now willing to ent er into this Agreement on the terms and condit ions appearing hereinafter; In accordance with the terms and conditions set out in t his Agreement and as mut ually agreed upon by and between the Parties, th e Promoters hereby agrees to sell and the Allott ee/Purchaser hereby agrees to purchase the said Flat. NOW THEREFOR, THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERE TO AS FOLLOWS:- 1. CONSTRUCTION OF THE BUILDING/APARTMENT : The Promoters shall const ruct the said building consisting of Ground Floor Parking and four upper floors on the said property in accordance with the plans, designs and specifications as approved by the concerned local authority from time to time. Provided that the Promoters shall have t o obtain prior consent in writing of t he Allottee/P urchaser in respect of variations or modifications which may adversely affect the Apartment of the Allott ee/Purchaser except any alt eration or addit ion or modification in t he sanct ioned plan, layout plans and specifications of t he building which are required to be made by the Promot ers in 9 compliance of any direction or order et c. issued by, the competent authority or statut ory aut hority, under any law of the St ate or Cent ral Government, for the time being in force or due to change in law. Promoters may also make such minor additions and alterations as may be required by t he Allottee/Purchaser. 2. CONSIDERATION PRICE OF THE SAID FLAT/APARTMENT : 2.1. The Allott ee/Purchas er hereby agrees t o purchase from the Promoters and the Promoters hereby agrees to sell t o the Allott ee/Purchaser a Flat/Apartm ent bearing Fl at No. __________ situated on _______ Floor, having carpet area admeasuring ________ sq.ft. i.e. ________ sq.mtrs. (approx) in the said building known as “SHANTI NIKETAN”, which is to be const ruct ed on t he said property and which is more particularly described in SCHEDULE - II writt en hereunder and hereinafter referred to as "T HE SAID FLAT / AP ARTMENT", as shown in t he Floor plan t hereof heret o annexed for a mutually concluded and agreed lump sum Consideration of Rs. ______________/- (Rupees ____________________ Only) . This amount of Consideration includes t he proportionat e price of common areas, facilities appurtenant to the said Flat. The price of the said Flat is on the basis of lump sum only. The price of the said Flat is as per t he prevalent market price, amenities and facilities. The amount of considerat ion is fixed with mutual consent of both P romot ers and Purch aser and t here is no dispute about t he same. the nature, extent and descript ion of the common areas and facilities which are more particularly described in t he Schedule -III hereinunder writt en. The Promoters have agreed to provide amenities and specificat i ons in the said Flat which are more particularly described as Schedule IV writt en hereunder. 2.2. The Allott ee/P urchaser agrees to pay to the Promoters the amount of t he total Considerat ion of the said Flat Rs. _____________/- (Rupees __________ _________ ____ Only) in the following manner : - Percentage Particulars 10% As a Advance 20% to be paid to the Promoters aft er t he execution of Agreement. 10 15% to be paid to the Promoters on complet ion of the Plinth of the building in which t he said Apartment is located. 25% to be paid to the Promoters on complet ion of the slabs of the building in which the said Apartment is located. 5% to be paid to the Promoters on complet ion of the walls, int ernal plaster, floorings doors and windows of the said Apartment . 5% to be paid to the Promoters on complet ion of the Sanit ary fit tings, staircases, lift wells, lobbies upto the floor level of t he said Apartment . 5% to be paid to the Promoters on complet ion of the ext ernal plumbing and external plast er, elevation, terrace s with waterproofing, of the building in which t he said Apartment is located. 10% to be paid to the Promoters on complet ion of the lifts, wat er pumps, electrical fittings, elect ro, mechanical and environment requirements, ent rance lobby/s, plinth protectio n, paving of areas appert ain and all other requirement s as may be prescribed in the Agreement of sale of the building in which t he said Apartment is locat ed. 5% against and at the time of handing over of the possession of t he Apartment to t he Allott ee/ Purchaser on or aft er receipt of occupancy certificat e or complet ion certificate. Out of t he tot al amount of consideration, The Allott ee/Purchaser have paid an amount of Rs. _________/- (Rupees ______________ Only) to the Promoters in the following manner - Amount Particulars Rs. _______/- (Rupees _____________ Only) paid by Cheque No. __________ dated _________ drawn on _____________. --------------- 11 Rs. ________/ - (Rupees ________________ Only) --------------- The Promot ers admits to have received an amount of Rs. _________/- (Rupees _________________ Only) as an advance or applicat ion fee, from the Allott ee/Purchaser and the Allott ee/Purchaser agrees to pay the remaining amount of consideration Rs. ____________/ - (Rupees ____________________ Only) as per the schedule mentioned above. The Allottee/P urchaser agrees and underst and t hat timely payment towards purchase of the said Flat as per payment plan/schedule hereto is the essence of t he Agreement. 2.3. The Tot al Price above ex cludes Taxes (cons ist ing of tax paid or payable by the Promot ers by way of Value Added Tax, Service Tax, Cess, G.S.T. or any other similar taxes which may be levied, in connection with the construction of and carrying out the Project payable by t he P romot ers) up to the dat e of handing over the possession of t he Flat /Apartment. 2.4. The Total Price is escalat ion -free, save and ex cept escalations/increases, which the Allottee/Purchaser agrees to pay, due to increase on account of development charges payable t o the competent a uthority and/or any other increase in charges which may be levied or imposed by the competent aut hority Local Bodies/Government from time to time. The Promot ers undertakes and agrees that while raising a demand on t he Allottee/P urchaser for increase in dev elopment charges, cost, or levies imposed by the competent aut horit ies et c., the Promot ers shall enclose the said notification/order/rule/regulation published/issued in t hat behalf to that effect along with t he demand letter being issued to the Allott ee/Purchaser, which shall only be applicable on subsequent payments. T he P romoters may charge the Allottee/P urchaser separat ely for any upgradation/changes specifically request ed or approved by the Allott ee/Purchaser in fitt ings, fixtures and specifications and any other facility which have been done on the Allott ee/Purchaser request or approval but which have not been agreed upon herein or as shown in t he website of the registered authority. 2.5. The Promot ers herein on due dat e/or on reaching aforesaid const r uction milestone/stage shall int imat e the amount payable as st ated above in writ ing or by digital E -mail to the 12 Allott ee/Purchaser and the Allott ee/Purchaser shall make payment of such due amount to the Promot ers within seven days from dat e of receiving such intimation. The Allott ee/Purchaser herein specifically agrees t hat he shall pay the aforesaid amount along with the service t ax, Vat, G.S.T. and such other tax es, cesses, charges et c. without any delay along wit h each installment. 2.6. The Promot ers may allow, in its sole discretion, a rebat e for early payment s of equal installments payable by the Allott ee/Purchaser by discounting such early payments @ 6% per annum for t he period by which t he respect ive inst allment has been preponed. The provision for a llowing rebat e and such rate of rebat e shall not be subject to any revision/wit hdrawal, once grant ed to an Allottee/Purchaser by t he P romoters. 3. MEASUREMENT OF THE CARPE T AREA OF THE SAID APARTMENT : The Promot ers shall confirm the final carpet area o f t he said Flat/Apart ment that has been agreed to be sold to the Allott ee/Purchaser after the const ruction of t he said Buildings is complet e and the occupancy cert ificat e is granted by the competent authority, by furnishing det ails of the changes, if any, in the carpet area, subject to a variat ion cap of 3%. T he t otal price payable for the said Flat/Apart ment shall be recalculat ed upon confirmation by the archit ect of the said building. If there is any reduction in t he carpet area wit hin the defined limit t hen Promoters shall refund t he ex cess money paid by the Allott ee/Purchaser within forty -five days with annual interest at the rate specified in t he Rules, from the date when such an excess amount was paid by the Allott ee/Purchaser. If there is any increase in the carpet area of the said Flat allotted to the Allott ee/Purchaser, t he Promoters shall demand additional amount from the Allottee/P urchaser as per the next milestone of the payment plan and Allott ee/Purchaser shall pay for t he same without which t he possession of the said Flat/Apartment shall not be given to the Allottee/Purchaser. All the monetary adjustment shall be made at t he same rat e per sq.mtrs. as agreed in this agreement. That in such case, the parties hereto agree that a nominat ed surveyor/a rchit ect as an expert be appoint ed mutually to take his expert opinion of measuring the said Flat/apartment and submitting the said det ails. 13 4. MODE OF PAYMENT : Subject t o the terms of t he Agreement and t he P romot ers abiding by t he const ruct ion mileston es, t he Allottee/P urchaser shall make all payments, on demand by t he Promoters, within the stipulated time as on due date as per the schedule mentioned above in the payment plan through A/c P ayee cheque/demand draft or online payment (as applicable) in fav our of ‘ INNOVATIVE VENTURES’ payable at NASHIK. 5. ADJUSTMENT/APPROPRIATION OF PAYMENTS : The Allott ee/Purchaser authorizes t he P romot ers to adjust /appropriate all payments made by him under any head(s) of dues against lawful outstanding, if any, in his name as the Promoters may in its sole discret ion deem fit and the Allott ee/Purchaser undertakes not to object/demand/direct the Promoters to adjust his payments in any manner. 6. INTEREST ON UNPAID DUE AMOUNT : Without prejudice t o the right of the Prom oters to take action for breach arising out of delay in payment of the installment s on t he due dates, the Allottee/Purchaser shall be bound and liable to pay int erest as per State Bank of India highest Marginal cost of Lending Rate plus 2% per annum, wit h monthly rests, on all t he amounts which become due and payable by and Allott ee/Purchaser t o the Promot ers till t he dat e of act ual payment , provided that tender of the principal amount s and int erest or tender of the int erest and expenses t hereof shall not i tself be considered as waiver of the right of the Promot ers under this Agreement, nor shall it be construed as condonat ion of delay by the Promoters. The amount of interest may be informed to be Allott ee/Purchaser from time to time or on completion of the said Flat/Apart ment and the Allottee/P urchaser has/have agreed to pay the same as and when demanded before the possession of t he said apart ment. 7. OBSERVATION OF CONDITION IMPOSED BY LOCAL/PLANNING AUTHORITY : The P romot ers hereby agrees to observe, per form and comply with all the terms, conditions, st ipulat ions and restrictions if any, which may have been imposed by the concerned local authority Stat e and or Central aut hority including Environment 14 Department at the t ime of sanct ioning t he said plans or anytime thereaft er or at the time of grant ing completion certificate or anytime t hereaft er. The Promoters shall before handing over possession of the said Flat /Apartment to the Allott ee/Purchaser, obtain from the concerned planning/local authority occupanc y and/or completion certificates in respect of t he said Flat/Apart ment. Notwit hstanding anything to the contrary cont ained herein, the Allottee/P urchaser shall not t he entitled to claim possession of the said Flat /Apartment unt il t he completion certifica te is received from the local authority and Allott ee/Purchaser has paid all dues payable under t his agreement in respect of the said Flat/apartment to the Promoters and has paid t he necessary maintenance amount/deposit, service tax, Vat , G.S.T . and ot her t ax es payable under this agreement of the said Flat /Apartment to t he P romoters. Howsoever for t he purpose of defect liability on towards t he Promoters, the dat e shall be calculated from the dat e of handing over possession to the Allottee/Purchaser for fit outs and interior works and that the said liability shall be t hose responsibilities which are not covered under maint enance of the said Flat/building as stat ed in the said agreement. That further it has been agreed by the Allott ee/Purchaser t hat any damag e or change done within the said Flat or in t he said building done by him or by any third person on and behalf of the Allott ee/Purchaser then the Allott ee/Purchaser expressly absolves the Promot ers for the same liability and specifically consents t hat on such act done, he shall waive his right to enforce the defect liability on and towards the Promoters. 8. DISCLOSURE AS TO FLOOR SPACE INDEX : The Promoter hereby declares t hat t he Floor Space Index available as on dat e in respect of the project land is 702.27 square meters. The Promot er has planned to utilise Floor Space Index between _______ square meter to _______ square meter plus t he balcony area, double height terrace area, passages, lobby , etc will be added to the above area. The Promot er shall util ize the above Floor Space Index by availing of TDR or FSI available on payment of premiums or FSI available as incent ive FSI by implementing various scheme as mentioned in t he Development Control Regulation or based on expect ation of increased FSI which may be available in future on modification to Development Control 15 Regulations, which are applicable to the said Project. The Promoter has disclosed t he Floor Space Index as proposed to be ut ilised by him on t he project land in the said Project to t he Allotte e / Purchaser/s and the Allott ee / Purchaser/s has agreed to purchase the said flat/ Apart ment understanding the present const ruction going on t he said land and t he proposed const ruction and sale of flats/ apart ments to be carried out by t he Promoter by ut ilising the proposed FSI and on the underst anding t hat the declared proposed FSI shall belong to P romoter only. It is hereby declared that, sanctioned plan/s has/have been shown to the Allottee/P urchaser/s and the floor space index (FSI) available & utili zed till date is shown in t he aforesaid plan/s. Similarly, t he floor space index, if any, utilized as floating floor space index or in any manner, i.e. to say, FSI of the said land transfer on other property or FSI of t he other property being TDR transfer on the said land is also shown or on sanction will be shown in t he sanct ion building plan/s. In this agreement, t he word FSI/FAR/TDR or floor area ratio shall have the same meaning as understood by t he planning authority under its relevant building regulations or bye -laws. 9. DISCLOSURE AND INVESTIGATION OF MARKETBAL E TITLE : The Promoters has made full and true disclosure of the title of the said property as well as encumbrances, if any, known to the Promoters in t he t it le report of the advocat e. The Pro mot ers has also disclosed to the Allott ee/Purchaser nat ure of its right , title and interest or right to construct building, and also given inspection of all document s to t he Allottee/Purchaser as required by the law. The Allottee/Purchaser having acquainte d himself wit h all facts and right of the Promoters and after satisfaction of the same has entered int o this Agreement. 10. SPECIFICATION AND AMENITIES : The specifications and amenit ies to be provided by t he Promoters in the said building and the said Flat /Apartment are those t hat are set out in Schedule IV written herein under. In the project multi storied high rise building is under const ruction and 16 considering to maintain the st ability of the building and internal structures, herein specifically info rmed by its consultant not to allow any internal changes. As per Promoters policy there shall be no customizat ion permitted inside t he said Flat/Apartment. Changes such as civil, electrical, plumbing et c. shall not be allowed during const ruction and till d elivery of possession. 11. COMPL IANCE OF L AW RELATING TO REMITANCES : 11.1. T he Allott ee/P urchaser, if resident outside India, shall be solely responsible for complying wit h the necessary formalit ies as laid down in Foreign Exchange Management Act, 1999, Reserve Bank of India Act and Rules and Regulations made thereunder or any st atutory amendment (s) modification(s) made thereof and all other applicable laws including that of remittance of payment acquisit ion/sale/transfer of immovable propert ies in India et c. and provide t he P romot ers wit h such permission, approvals which would enable t he Promot ers to fulfill its obligat ions under this Agreement. Any refund, transfer of security, if provided in terms of the Agreement shall be made in accordance wit h t he p rovisions of Foreign Exchange Management Act, 1999 or statutory enact ment s or amendments thereof and t he Rules and Regulations of the Reserve Bank of India or any other applicable law. The Allott ee/Purchaser understands and agrees that in the event of any failure on his part t o comply wit h the applicable guidelines issued by the Reserve Bank of India, he shall be liable for any action under the Foreign E xchange Management Act, 1999 or ot her laws as applicable, as amended from time to t ime. 11.2. The P romot ers accepts no responsibility in this regard. The Allottee/P urchaser shall keep the Promoters fully indemnified and harmless in this regard. Whenever t here is any change in the residential status of the Allottee/P urchaser subsequent to the signing of this Agreement, it shall be the sole responsibility of the Allott ee/Purchaser to intimat e the same in writ ing to the Promoters immediat ely and comply wit h necessary formalit ies if any under t he applicable laws. T he Promot ers shall not be responsible t owards any t hird party making payment/remitt ances on behalf of any Allott ee/Purchaser and such third party shall not have any right in the application/allot ment of the said apartment applied for herein in any way and the Promoters shall be issuing the payment receip ts in favour of t he Allot tee/Purchaser only. 17 12. TIME IS THE ESSE NCE : 12.1. Time is essence for the Promoters as well as the Allott ee/Purchaser. The Promoters shall abide by t he t ime schedule for complet ing the project and handing over the said Flat/Apart ment to the Allottee/Purchaser and the common areas to the association of the Allott ee/Purchaser after receiving the occupancy certificat e or the completion cert ificat e or both, as the case may be. Similarly, the Allottee/P urchaser shall make timely payments of the installment and other dues payable by him and meeting t he ot her obligations under the Agreement subject to the simultaneous completion of construction by the Promot ers as provided in t his agreement. 12.2. If t he Promot ers fails to abide by the time schedule for completing the project and handing over the said Flat /Apartment t o the Allottee/Purchaser, the Promot ers agrees to pay to the Allott ee/Purchaser, who does not intend to withdraw from the project, int erest as specified in the Rule, on all the amounts paid by the Allott ee/Purchaser, for every month of delay, till the handing over of the possession. The Allottee/Purchaser agrees to pay to the Promot ers, interest as specified in the Rule, on all the delayed payment which become due and payab le by the Allott ee/Purchaser to the P romot ers under the terms of this Agreement from the dat e the said amount is payable by the Allott ee/Purchaser to the Promoters. 13. TERMINATION OF AGREEMENT : 13.1. Without prejudice to the right of Promot ers t o charg e interest as mentioned above, on the Allottee/Purchaser committing default in payment on due date of any amount due and payable by the Allott ee/Purchaser to t he Promot ers under t his Agreement (including his proportionate share of t axes levied by concerned local authority and other outgoings) and on the Allott ee/Purchaser committing three default s of payment of inst allment s, the Promoters shall at t heir own opt ion, may terminat e this Agreement: Provided t hat, Promoters shall give not ice of fift een days in writing to the Allot tee/Purchaser, by Regist ered Post AD at the address provided by the Allott ee/P urchaser and/or mail at t he e - mail address provided by the Allottee/P urchaser, of t heir int ention to terminat e this Agreement and of the specific breach or br eaches of terms and conditions in respect of which it is intended to terminat e the Agreement. If t he Allott ee/Purchaser fails to rectify 18 the breach or breaches ment ioned by the P romot ers wit hin t he period of notice t hen at the end of such not ice period, P r omoters shall be ent itled t o t erminat e this Agreement. Provided further that upon termination of this Agreement as aforesaid, the Promoters shall refund to the Allott ee/Purchaser (subject to the deduction of 10% of t he tot al amount till then received by t he Promoters towards the adjust ment and recovery of any administrative expenses and an amount for agreed liquidated damages or any other amount which may be payable to Promoters) within a period of t hirty days of the t ermination, t he installments of sale consideration of the said Flat/Apartment which may till then have been paid by t he Allott ee/Purchaser to the Promot ers and the Promoters herein shall be ent itled to deal with said Flat/Apartment with any prospective buyer. Delay in issuance of any reminder/ s or notices from the P romoters shall not be considered as waiver of Promoters absolute right to terminat e this Agreement . 13.2. For whatsoever reason if t he Allott ee/Purchaser herein, without any default or breach on his part, desire to terminat e this Agreement /transaction in respect of t he said Flat /apartment then, the Allott ee/Purchaser herein shall issue a prior writt en notice to the Promoters as to the intention of the Allott ee/Purchaser and on such receipt of notice the Promoters herein shall be enti t led to deal with the said apart ment with prospective buyers. After receipt of such notice of int ent ion to terminat e t his agreement t he Promoters shall issue a 15 days notice in writ ing calling upon him/her/them to execut e and regist er Deed of Cancellation . Only upon the ex ecution and regist ration of Deed of Cancellat ion the Allottee/Purchaser shall be entit led to receive the refund of consideration, subject t o terms of t his agreement. 13.3. It is specifically agreed between t he parties heret o that, if the t ransact ion in respect of the said apart ment between the Promoters and Allott ee/Purchaser herein t erminated as stated in sub-para herein above writt en then all t he instruments under what soever head ex ecuted bet ween t he parties hereto or between the Promoters and Allottee/P urchaser herein, in respect of the said apart ment, shall stands automatically cancelled and eit her party have no right, tit le, interest or claim against each ot her ex cept as provided hereinaft er. 14. POSSESSION OF THE APARTMENT : 19 14.1. The Promot ers agrees and underst and t hat t he t imely delivery of possession of the said Flat /apartment is the essence of this Agreement, subject to receipt of full consideration/tot al price of the said Flat /apartment and all the dues of the Promot ers and taxes thereon are paid by the Allott ee/Purchaser in respect of the said Flat/apart ment in terms of t his presents, the Promot ers, based on the approved plans and specifications, shall give possession of the said Flat /Apart ment to the Allottee/Purchaser on or before ________ day of _____ 20_____. If t he P romot ers fails or neglects to give possession of t he said Flat/Apartment to the Allott ee/Purchaser on account of reasons beyond t heir control and of t heir agents by the aforesaid date then the Promoters shall be liable on demand to refund to the Allott ee/Purchaser t he amounts already received by them in respect of the said Flat /Apartment with int erest at the same rat e as may ment ioned in t his agreement herein above from the dat e the Promoters received t he sum t ill the date the amounts and interest thereon is repaid. Provided that t he Promoters shall be entitled to reasonable extension of time as agreed by and bet ween the parties for giving delivery of said Flat/Apartment on t he aforesaid date and t he same shall not include the period of ext ension given by t he authority for regist rat ion. Further if the complet ion of building in which the Apartment is to be situated is delayed on account of - (i) war, civil commotion, flood, drought, fire, cyclone, eart hquake, act of god or any calamit y by nat ure affecting the regular development of the real est ate project (“Force Majeure”) (ii) Extension of time for giving possession as may be permitt ed by the Regulatory authority under Real Est ate (Regulation and Development ) Act , 2016 for reason where act ual work of said building could not be carried by t he Promot ers as per the sanctioned plan due to specific stay or injunct ion order related to the said project from any court of law, or Tribunal, Competent authority, st atutory au thority, high power committee etc. or due to such circumstances as may be decided by the authority. (iii) any notice, order, rule, notification of the Government and/or other public or compet ent authority/court. If, however the completion of the building is delayed due to the Force Majeure condit ions t hen t he Allott ee/Purchaser agrees that t he Promoters shall be ent itled to the extension of time for delivery of possession of t he said Flat /Apartment provided that 20 such Force Majeure condit ions are not of a n ature which make it impossible for t he contract to be implement ed. The Allott ee/Purchaser agrees and confirms that in t he event it becomes impossible for t he P romot ers to implement t he project due to Force Majeure conditions, t hen t his allot ment/sell shall stand terminat ed and the Promot ers shall refund to the Allott ee/Purchaser t he ent ire amount received by t he Promoters from t he Allottee/P urchaser within 30 days from t hat date. Aft er any refund of money paid by t he Allott ee/Purchaser, the Allott ee/Purchas er agrees that he shall not have any rights, claims etc. against the Promoters and t he Promoters shall be released and discharge from all its obligat ions and liabilities under this Agreement. 15. PROCEDURE FOR TAKING POSSESSION : 15.1. The Promoters, upo n obt aining t he occupancy certificate from t he local/compet ent /planning authority shall offer in writ ing to the Allottee/P urchaser intimat ing that the said Flat/Apart ment is ready for use and occupat ion. The Allott ee/Purchaser herein shall inspect t he said Flat/Apart ment in all respect to confirm that the same is in accordance wit h the terms and conditions of this agreement, complete t he payment of consideration/tot al price and dues to the Promoters as per terms and conditions of t his agreement and take the possession of the said apartment wit hin 15 days from the date of written intimation issued by the Promoters to the Allot tee/Purchaser herein. The Promoters shall give possession of the said Flat/Apart ment t o the Allott ee/Purchaser. The Promoters agrees an d undert akes to indemnify the Allott ee/Purchaser in case of failure of fulfillment of any of t he provisions, formalities, documentat ion on part of the Promoters. T he Allot tee/Purchaser agree(s) to pay the maint enance charges as det ermined by the Promoters or association of Allott ee/Purchaser, as the case may be. The Promoters on its behalf shall offer t he possession to t he Allott ee in writing within 7 days of receiving t he occupancy certificat e of t he Project. 15.2. The Allottee shall t ake possession of t h e Apartment within time frame given in t he writt en notice from t he promotors to the Allott ee/Purchaser intimating that the said Apart ment s are ready for use and occupancy. 15.3. It shall be expressly agreed that wherever it is the responsibility of t he Al lott ee/Purchaser t o apply and get necessary 21 services t he same shall not be undert aken by the Promoters and the Allott ee/Purchaser shall be solely responsible for the same. 16. FAILURE OF ALLOTTEE/PURCHASER TO TAKE POSSESSION : Upon receiving a written intimation from the Promoters as per clause 14, the Allott ee/Purchaser shall t ake possession of the said Flat/Apartment from the Promot ers by executing necessary indemnit ies, undert akings and such other document ation as prescribed in t his Agreement, and th e P romot ers shall give possession of t he said Flat /Apartment to the Allott ee/Purchaser. In case the Allott ee/P urchaser fails or commits delay in taking possession of the said Flat /Apartment within t he time provided as ment ioned above, such Allott ee/Purchas er shall cont inue to be liable to pay maint enance charges as applicable as well as property tax, electricity charges and any ot her expenses and outgoing in respect of the said Flat/Apart ment and the Promot ers shall not be liable for the maint enance, wear a nd tear of t he said Flat/Apart ment. 17. COMPENSATION : That the Allott ee/Purchaser has given his specific confirmation herein that the responsibility of tit le of the said property be on the Promoters up and until t he conveyance of t he said building and t he said property t hereunder. Except or occurrence of the events st at ing herein above, if the Promoters fails to complet e or is unable to give possession of the Apartment (i) in accordance with the t erms of t his Agreement, duly completed by the dat e specif ied herein; or (ii) due to discontinuance of his business as a Promoters on account of suspension or revocation of the registration under the Act; or for any other reason; the Promot ers shall be liable, on demand t o the Allott ee/Purchaser, in case the Allo ttee/Purchaser wishes to withdrawn from t he project, without prejudice to any ot her remedy available, to ret urn the total amount received by him in respect of the Apart ment, wit h the interest as per State Bank of India highest Marginal Cost of Lending Rat e plus 2% percent per annum wit hin 30 days including compensation in the manner as provided under the Act. Provided that where if t he Allottee/P urchaser does not int end to withdraw from t he said property, the Promoters shall pay the 22 Allott ee/Purchaser inte rest as per the State Bank of India highest Marginal cost of Lending Rat e plus 2%, on all t he amounts paid by the Allott ee/Purchaser, for every month of delay, t ill t he handing over of the possession of t he Apart ment. 18. DEFECT LIABIL ITY : If wit hin a period of five years from the date of handing over the flat/Apartment to the Allott ee/Purchaser/s, t he Allottee/ Purchaser/s brings to the notice of the Promot er any st ruct ural defect in the Apartment/Flat or t he building in which the Apartment /Flat are situ at ed or any defects on account of workmanship, quality or provision of service, t hen, wherever possible such defect s shall be rect ified by the Promot er at his own cost and in case it is not possible to rectify such defect s, then the Allott ee/Purchaser/s sh all be entitled to receive from the Promoter, compensation for such defect in the manner as provided under the Act. Provided however, that the Allott ee / Purchaser/s shall not carry out any alt erations of the whatsoever nat ure in the said apart ment/ flat / wing in specific t he struct ure or the said flat /apartment /wing of the said building which shall include but no limit t o columns, beams etc. on in the fittings t herein, in particular it is hereby agreed that the Allottee/Purchaser shall not make any alterations in the bathroom, toilet & kitchen, which may result in seepage of t he wat er. If any such works carried out without the writt en consent of P romoter the defect liability automat ically shall become void. The word defect here means only the manufacturin g defect/s caused on account of willful neglect on the part of the Promoter and shall not mean defect/s caused by normal wear and tear, negligent use of Apartment /Flat by the Occupants, vagaries of nature, any damage caused due t o mishandling, misuse or du e to any modifications or furniture work carried out by the Allott ee/Purchaser/s either themselves or through their agents or nominees or occupants, et c. It is specifically agreed and understood bet ween the parties t hat the regular wear and tear of the Flat/ Apart ment/ Building / Wing includes minor hair line cracks on the ext ernal and internal wall excluding the R.C.C. st ructure and which also happens due to the extreme temperat ure variations in 23 Nashik leading to shrinkage cracks in the walls and such shri nkage / minor hair line cracks shall not be deemed to be any defect nor any st ructural defect and cannot be attributed to eit her bad workmanship or structural defect. Defect/s in fitt ings and fixtures like plumbing fixtures, drainage pipes, sanitary ware, Swit ches, wires, ELCB, tiles on floor and wall, aluminum used for windows, glass used in windows et c. etc. are not included in the defect liability as separat e warrant ies are given by their respective manufacturers. The said project as a whole has been co nceived, designed and const ructed based on the commitments and warranties given by such vendors / manufact urers and t hat all equipment, fixtures and fittings shall be maintained and covered by maint enance / warranty contracts so as it to be in sustainable and in proper working condition. It is the responsibility of the allott ee/ purchaser/s to continue warranty on the products/ equipment used inside the flat/apart ment by renewing t he annual maintenance cont ract at his cost and it is the responsibility of th e apex body of Association of Apartment to keep on renewing t he annual maintenance contract of t he products / machinery / equipment etc. used in the common area of the project amenities wherever applicable. Failing to renew the annual maintenance cont ract or the mont hly maintenance contract as applicable t hen in such case the defect liability of the promoter automatically becomes void. That it shall be t he responsibility of Allott ee/Purchaser t o maintain his flat/apartment in a proper manner and t ake all d ue care needed including but not limiting to the joints in t he tiles in his flat are regularly filled with white cement/epoxy to prevent water seepage. Further where t he manufact urer warranty as shown by the promot er to t he Allottee/Purchaser ends before t he defects liability period and such warrant ies are covered under the maint enance of the said flat / apart ment /building/phase/wing, and if t he annual maintenance cont racts are not done/renewed by the Allott ee/s/Purchaser/s the Promot er shall not be respons ible for any defects occurring due to t he same. 24 It is expressly agreed that before any liability of defect is claimed by or on behalf of t he Allott ee/s/P urchaser/s, it shall be necessary to appoint an expert who shall be a nominat ed surveyor who shall survey and assess the same and shall then submit a report to state the defects in materials use, in the struct ure built of the flat /apartment /phase/wing and in the workmanship executed keeping in mind the aforesaid agreed clauses of t his agreement. 19. USE OF FLAT/APARTMENT : The Allott ee/Purchaser shall use the said Flat /Apartment or any part thereof or permit the same t o be used only for Resident ial purpose. 20. FORMATION OF ORGANISATION APARTMENT HOLD ERS : 20.1. The Allott ee/Purchaser along with other Allott ee/Purchasers of Apartments in the said building shall join in forming and regist ering the association of apart ment owners - condominium to be known by such name as SHANTI NIKE TAN or Society or Association or a Limited Company to be known by such name as t he Promot ers may decide and for t his purpose also from time to time sign and execut e the application for registration and/or membership and t he other papers and documents necessary for t he formation and registration of t he association of apartment owners or the Society or Association or Limited Company and for becoming a member, including the byelaws of the proposed the associat ion of apart ment owners or Society and duly fill in, sign and return to t he P romoters wit hin seven days of the same being forwarded by the Promoters to the Allottee/Purchaser, so as to enable the P romot ers to register t he common organisat ion of Allott ee/Purchasers. No objection shall be t aken by the Allott ee/Purchaser if any, changes or modifications are made in t he draft bye-laws, or t he Memorandum and/or Art icles of Associat ion of the association of apart ment owners, as may be required by the Regist rar of Co -operative Societ ies or t he Registrar of Companies, as the case may be, or any ot her Compet ent Authority. 20.2. The P romot ers shall, within t hree mont hs of regist rat ion of the associat ion of apart ment owners or Society or Associat ion or Limited Company, as aforesaid, cause to be transferred t o the association of apartment owners or the society or Limit ed Company all the right , tit le and the interest of the 25 Promoters in the said struct ure of t he Building in which t he said Apartment is situat ed. 20.3. The P romot ers shall, within t hree mont hs of regist rat ion of the Federation/apex body of the association of apart ment owners or t he Societies or Limited Company, as aforesaid, cause to be transferred to the Federat ion/Apex body all the right, title and the int erest of t he Promot ers in the said property on which t he said building is construct ed. 21. CONVEYANCE OF THE SAID APARTMENT : The Promot ers, on receipt of complet e amount of the Price of the said Flat/Apart ment under the present Agreement from the Allott ee/Purchaser, shall execut e a conveyance deed and convey the t itle of t he said Flat /Apartment together wit h proport ionat e indivisible share in the Common Areas within 3 (Three) months from the issuance of the occupancy certificat e. However, in case the Allottee/P urchaser fails to deposit t he st amp duty, registration charges and all other incidental and legal expenses etc. so demanded within the period ment ioned in the demand lett er, the Allott ee/Purchaser authorizes the Promoters to withhold regist rat ion of the conveyance deed in his favour till full and final settlement of all dues and st amp duty and regist rat ion charges are paid by the Allottee/Purchaser. 22. PAYMENT OF TAXE S, CESSES, OUTGOINGS ETC. : 22.1. The Allottee/Purchaser herein is well aware that, the state Government of Maharasht ra has imposed value added Tax (VAT) on t he agreed consideration, for the transact ion fo r the sale of apartment by the Promot ers to t he Allottee/P urchaser of the Apartment s under t he value added t ax act, 2002 and as per t he aforesaid act, responsibility to pay the aforesaid tax from t ime to time and hence it is agreed bet ween t he parties here to that the Allott ee/Purchaser herein shall bear and pay t he aforesaid tax amount on or about execution of this present or as becomes applicable from time to time for this transactions to the Promoters herein to enable the Promoters to deposit/pay the same t o the Government of the Maharashtra. 22.2. The Allottee/P urchaser herein is well aware that t he Cent ral Government of India has imposed service tax on const ruction cost and which const ruction cost is to be det ermined as provided under t he aforesaid act out of t he t ransaction for the sale of t he apartment by the Promoters to the Allottee/Purchaser 26 and as per t he aforesaid act responsibilit y to pay the aforesaid tax from t ime t o time to the Cent ral Government has been imposed on the P romot ers and hence it is agreed between the parties hereto that t he Allott ee/Purchaser shall bear and pay the aforesaid tax amount on every installment of payment of consideration. 22.3. If at any t ime, after execution of t his agreement, the service t ax and the value added t a x, G.S.T. etc. is imposed/increase under respective statue by the Cent ral Government and St ate Government respect ively and further at any time before or aft er execution of t his agreement any additional taxes / duty / charges / premium / levies / cess / sur charge etc. by what ever name called, is levied or recovered or becomes payable under any stat ue/rule/regulation/notification/order either by the Cent ral or the Stat e Government or by the local authority or by any revenue or ot her authority on the said Flat /Apartment or this agreement or the transaction herein, shall exclusively be borne and paid by t he Allott ee/Purchaser. T he Allott ee/Purchaser hereby always indemnifies the Promot ers from all such levies, cost and consequences. Provided that the Promoters s hall provide t o the Allott ee/Purchaser t he det ails of the tax es paid or demanded along with t he act s/rules/notificat ion together with date from which such taxes/levies et c. have been imposed or become effective. 22.4. Within 15 days after notice in writi ng is given by the Promoters to the Allottee/Purchaser that the said Flat/Apart ment is ready for use and occupancy, the Allott ee/Purchaser shall be liable to bear and pay the proportionat e share (i.e. in proportion to the carpet area of the Apartment ) of o utgoings in respect of t he said property and the said Building namely local tax es, betterment charges or such ot her levies by t he concerned local aut hority and/or Government water charges, insurance, common lights, repairs and salaries of clerks bill colle ct ors, chowkidars, sweepers and all other ex penses necessary and incident al to the management and maint enance of the said property and t he said building. Until t he Society or Limited Company is formed and the said structure of the said building is transfer red to it , the Allott ee/Purchaser shall pay to the Promoters such proport ionat e share of outgoings as may be det ermined. The Allott ee/Purchaser furt her agrees t hat till t he Allott ee/Purchaser share is so determined t he Allottee/Purchaser shall pay to t he P romoters provisional monthly contribution towards t he outgoings. The amounts so paid by the Allottee/P urchaser to the P romot ers shall 27 not carry any interest and remain wit h the Promot ers until a conveyance of the structure of the said building is executed in favour of the societ y or a limit ed company as aforesaid. On such conveyance being execut ed for the structure of t he said building the aforesaid deposits (less deduct ion provided for in this Agreement ) shall be paid over by t he Promoters t o the Society o r the Limited Company, as the case may be. 22.5. Notwit hstanding anything contents stated herein above, the liability to pay t he aforesaid taxes, outgoings, other charges et c. will be always on Allott ee/Purchaser of the said apart ment and if for whatsoev er reason respective Recovering Authority got recovered the same from the Promoters in such circumstances t he Promoters herein shall be ent itled to recover the same from the Allottee/P urchaser along with interests and Allott ee/Purchaser herein shall pay th e same to the Promoters within st ipulated period as may informed by the P romot ers to the Allott ee/Purchaser in writing. It is further specifically agreed that, aforesaid encumbrance shall be on said apart ment being first encumbrance of t he Promoters. T he A llot tee/Purchaser herein wit h due diligence has accept ed the aforesaid condit ion. 22.6. That t he Allottee/Purchaser are made aware and expressly agree herein t hat where the project is out of water supply zone of t he local authority and there is likely to be low water supply from t he local authority and the Allottee/P urchaser shall have to pay for the wat er charges either by tanker or any other form. 23. DEPOSITS BY ALLOTTE/PURCHASER WITH THE PROMOTERS : 23.1. The Allott ee/Purchaser shall on or before de livery of possession of the said Flat /Apartment keep deposit ed with the Promoters, t he following amounts : - (i) for share money, applicat ion entrance fee of t he associat ion of apartment owners or the Society or Limited Company/Federat ion/ Apex body. (ii) for formation and regist ration of the association of apart ment owners or the Society or Limited Company/Federat ion/ Apex body. (iii) for proportionat e share of taxes and other charges/levies in respect of the associat ion of apartment owners or t he Societ y or Limited Company/Federat ion/ Apex body. 28 (iv) for deposit towards provisional monthly contribution towards outgoings of the association of apartment owners or Society or Limit ed Company/Federation/ Apex body. (v) For Deposit towards Water, Electric, a nd other utility and services connection charges & (vi) for deposits of elect rical receiving and Sub St ation provided in said property. 23.2. The Allott ee/Purchaser shall pay t o the Promoters t he deposit for meet ing all legal cost s, charges and expenses, including professional costs of the Attorney -at -Law/Advocat es of the Promoters in connect ion wit h formation of the associat ion of apart ment owners or the said Society, or Limited Company, or Apex Body or Federation and for preparing its rules, regulations and bye-laws and t he cost of preparing and engrossing t he conveyance. 23.3. At the time of registrat ion of conveyance of the structure of the said building, the Allot tee/Purchaser shall pay to the P romot ers, the Allott ee/Purchaser’s share of stamp dut y a nd regist rat ion charges payable, by the associat ion of apartment owners or t he said Society or Limited Company on such conveyance or any document or inst rument of transfer in respect of the structure of the said Building. At t he time of registrat ion of conveyance, the Allottee/Purchaser shall pay to the Promot ers, the Allott ee/Purchaser’s share of stamp duty and regist ration charges payable, by t he said Apex Body or Federation on such conveyance or any document or inst rument of transfer in respect of the structure of the said property to be ex ecuted in favour of the Apex Body of t he association of apart ment owners or Federation. 24. REPRESENTATIONS AND WARRANTIES OF THE PROMOTERS : The Promoters hereby represents and warrants to t he Allott ee/Purchaser as f ollows: a. The Promoters has clear and marketable title with respect to the said property; as declared in the tit le report annexed t o this agreement and has the requisit e rights to carry out development upon t he property and also has actual, physical and l egal possession of t he property for the implement ation of t he P roject; b. The P romot ers has lawful rights and requisit e approvals from the compet ent Aut horities to carry out development of t he Project and shall obtain requisit e approvals from time to time to complet e the development of t he project; 29 c. There are no encumbrances upon the said property or t he Project ex cept t hose disclosed in t he tit le report; d. There are no litigat ions pending before any Court of law wit h respect to t he said property or Proj ect except those disclosed in the tit le report; e. All drawing, sale plans, other drawings are as given t o the Promoters by the appointed Archit ect , struct ural Consultants, other consult ants, the Promoters has t hus disclosed the same to the Allott ee/Purchaser and the Allott ee/P urchaser is aware that professional liability have been undert aken by t hem individually with the Promot ers which shall prevail on these consultants individually or cumulatively if t here is any loss/harm is caused to the Allott ee/Purchaser and based on t hese said det ails of the drawings and t he calculations and areas shown, the Allott ee/Purchaser has agreed to take the said Flat /Apartmet . f. All approvals, licenses and permits issued by the compet ent authorities with respect to the Proj ect , said property and said building are valid and subsisting and have been obt ained by following due process of law. Further, all approvals, licenses and permits to be issued by the compet ent authorities with respect t o the Project, said property and said building shall be obtained by following due process of law and the Promoters has been and shall, at all times, remain to be in compliance with all applicable laws in relation to the Project, said property, said Building and common areas; g. The Promoters has t he right to enter int o this Agreement and has not committ ed or omitt ed t o perform any act or thing, whereby the right, title and interest of the Allott ee/Purchaser creat ed herein, may prejudicially be affected; h. The Promoters has not entered into an y agreement for sale and/or development agreement or any other agreement / arrangement with any person or party with respect to t he said property, including the Project and the said Flat /Apartment which will, in any manner, affect the rights of Allott ee/Pu rchaser under this Agreement; i. The Promoters confirms that the Promoters are not rest ricted in any manner what soever from selling the said Flat/Apart ment to the Allottee/P urchaser in the manner cont emplated in this Agreement; j. At the time of execution of the conveyance deed of the structure t o the association of Allottee/Purchaser the Promoters 30 shall handover lawful, vacant, peaceful, physical possession of the common areas of the Struct ure to the Association of the Allott ee/Purchaser; k. The Promoters has duly paid and shall continue to pay and discharge undisputed governmental dues, rat es, charges and taxes and other monies, levies, impositions, premiums, damages and/or penalties and ot her outgoings, whatsoever, payable with respect t o the said project to t he competent Aut horities; l. No notice from the Government or any other local body or authority or any legislative enactment, government ordinance, order, not ification (including any notice for acquisit ion or requisit ion of the said property) has bee n received or served upon the Promot ers in respect of t he said property and/or t he P roject except those disclosed in t he t itle report . 25. COVENANTS AS TO USE OF THE SAID FLAT/APARTMENT: The Allott ee/Purchaser himself with intention to bring all persons into whosoever hands the said Flat/Apart ment may come, hereby covenants with t he Promot ers as follows for the said Flat/apartment and also the said building in which the said Flat/apartment is sit uated : - a. To maintain t he Apartment at t he Allot tee/Purcha ser's own cost in good and t enantable repair and condition from the date that of possession of the Apartment is taken and shall not do or suffer to be done anyt hing in or to the building in which the Apart ment is situat ed which may be against the rules, re gulat ions or bye-laws or change/alter or make addition in or to the building in which the Apartment is situat ed and the Apartment itself or any part t hereof without the consent of the local aut horit ies, if required. b. Not to store in the Apartment any goo ds which are of hazardous, combustible or dangerous nature or are so heavy as to damage the const ruction or st ructure of the building in which t he Apartment is situated or storing of which goods is object ed by the concerned local or other authority and sha ll take care while carrying heavy packages which may damage or likely to damage the staircases, common passages or any other struct ure of the building in which the Apartment is sit uated, including entrances of the building in which the Apartment is situat e d and in case any damage is caused to the building in which t he Apartment is situat ed or t he Apartment on account of negligence or default of 31 the Allottee/P urchaser in t his behalf, t he Allott ee/Purchaser shall be liable for t he consequences of t he breach. c. To carry out at his own cost all int ernal repairs to t he said Apartment and maint ain the Apart ment in the same condition, state and order in which it was delivered by the P romot ers t o the Allott ee/Purchaser and shall not do or suffer to be done anyt hing in or to the building in which the Apartment is situated or the Apartment which may be contrary to the rules and regulations and bye-laws of the concerned local aut hority or ot her public authority. In the event of the Allottee/P urchaser committ ing any act in cont ravention of the above provision, the Allottee/Purchaser shall be responsible and liable for the consequences thereof to the concerned local aut hority and/or other public aut hority. d. Not to demolish or cause to be demolished the Apartment or any part thereof, nor at any time make or cause to be made any addition or alt eration of whatever nature in or to the Apart ment or any part thereof, nor any alteration in the elevation and outside colour scheme of the building in which the Apartment is sit uate d and shall keep t he portion, sewers, drains and pipes in the Apartment and t he appurtenances theret o in good t enant able repair and condition, and in particular, so as to support shelt er and protect the other parts of the building in which the Apart ment is situat ed and shall not chisel or in any other manner cause damage to columns, beams, walls, slabs or RCC, Pardis or ot her st ruct ural members in the Apartment without the prior writt en permission of the Promoters and/or the association of apartment owners or the Society or t he Limit ed Company. e. 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 said building in which the Apartment is situat ed or any part thereof or whereby any increased premium shall become payable in respect of the insurance. f. Not to throw dirt, rubbish, rags, garbage or ot her refuse or permit the same to be thrown from t he said Apartment in the compound or any portion of the project land and t he building in which t he Apart ment is situat ed. g. Pay to t he Promot ers wit hin fift een days of demand by t he Promoters, their share of security deposit demanded by the concerned local aut hority or Government or giving wat er, electricity or any ot her service connect ion to t he building in which t he Apartment is situat ed. 32 h. To bear and pay increase in local t axes, water charges, insurance and such other levies, if any, which are imposed by the concerned local aut hority and/or Government and/or other public authority, on account of change of user of the Apartment by the Allott ee/Purchaser for any purposes ot her than for purpose for which it is sold. i. The Allott ee/Purchaser shall not let, sub -let, t ransfer, assign or part with interest or benefit factor of this Agreement or part with the possession of the Apartment until all the dues payable by the Allott ee/Purchaser to t he P romot ers under this Agreement are fully paid up. j. The Allott ee/Purchaser shall observe and perform all the rules and regulations which the association of ap artment owners or the Society or t he Limited Company or Apex Body or Federat ion may adopt at its inception and the additions, alterations or amendments thereof that may be made from time to time for protection and maint enance of the said building and the Apartment s t herein and for the observance and performance of t he Building Rules, Regulations and Bye -laws for the time being of the concerned local aut hority and of Government and other public bodies. The Allottee/Purchaser shall also observe and perform al l the stipulations and conditions laid down by t he association of apart ment owners or t he Societ y/Limit ed Company/Apex Body/Federation regarding the occupancy and use of the Apartment in the Building and shall pay and contribute regularly and punctually towards the tax es, expenses or other out -goings in accordance with t he terms of t his Agreement. k. Till a conveyance of the st ructure of the building in which Apartment is situated is executed in favour of the associat ion of apart ment owners or the Societ y/L imit ed Society, the Allott ee/Purchaser shall permit the Promoters and their surveyors and agents, with or without workmen and others, at all reasonable times, to enter into and upon the said buildings or any part thereof to view and examine the st ate and c ondit ion thereof. l. Till a conveyance of the said property on which t he building in which Apartment is situated is ex ecuted in favour of the associat ion of apart ment owners or Apex Body or Federation, the Allott ee/Purchaser shall permit the Promoters and their surveyors and agents, with or without workmen and others, at all reasonable times, to enter into and upon the said property or any part thereof to view and examine the st ate and condit ion thereof. 33 m. That the Allott ee/Purchaser shall indemnify and ke ep indemnifying the Promot ers towards 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 Allott ee/Purchaser. n. That not hing herein con t ained shall construe as entitling the Allott ee/Purchaser any right on any of the adjoining, neighboring or the remaining buildings/common areas et c of t he remaining portion of the proposed project layout unless specifically agreed and consideration dispen sed by t he Allott ee/Purchaser to the Promoters in this regards. o. That the parking spaces if sold to the respective Allott ee/Purchaser, shall be used only for the purposes of parking. 26. NAME OF THE BUILDING : Notwit hstanding anything cont ained anywher e in this agreement, it is specifically agreed between t he part ies hereto that, t he P romot ers herein have decided to have t he name of the said building as “SHANTI NIKETAN ” and furt her erect or affix Promoters name board at suitable places as decided by the Promoters herein on building and at t he ent rance of the project. The Allott ee/Purchaser herein or the proposed ultimate organization of apartment purchasers are not ent itled to change the aforesaid building name and remove or alt er Promot ers name board in a ny circumstances. 27. ENTIRE AGREEMENT AND RIGHT TO AMEND : This Agreement, along wit h its schedules and annexures, const itut es t he entire Agreement between the P arties with respect to the subject matter hereof and supersedes any and all underst andings, any other agreement s, allot ment letter, correspondences, arrangements whether written or oral, if any, between the Parties in regard to t he said Flat/Apart ment. This agreement may only be amended t hrough written consent of the parties. 28. SEPARATE ACCOUN TS FOR SUMS RE CEIVED : The Promot ers shall maintain a separat e account in respect of sums received by the Promoters from the Allott ee/Purchaser towards total price/consideration of the said Flat/apartment and as advance or deposit, sums received on accoun t of t he share capital 34 for t he promotion of the association of apart ment owners or the Co-operative Society or association or Company or any such legal entity/organization t hat may be formed, towards the out goings, legal charges etc. and shall utilize t he amount s only for the purposes for which t hey have been received. Provided t hat the Promoters shall be allowed to wit hdraw t he sums received from the Allottee/P urchaser and utilize t he same as cont emplated and permitted under the said act and rules and regulation made t hereunder. 29. RIGHT OF ALLOTTEE/PURCHASER TO USE THE COMMON AREAS AND FACILITIES SUBJE CT TO PAYMENT OF TOTAL MAINTENANCE CHARGES : The Allott ee/Purchaser hereby agrees to purchase the said Flat/Apart ment on t he specific understanding that his right is to only to the use and unless specifically allotted/given vides (limited) common areas/facilit ies, t he use of Common Areas/amenit ies shall be subject to t imely payment of total maintenance charges, as determined and t hereafter billed by the m aintenance agency appoint ed or the associat ion of Flat /Shop P urchasers (or the maintenance agency appoint ed by it) and performance by the Allott ee/Purchaser of all his obligat ions in respect of t he t erms and condit ions specified by the maint enance agency o r t he association of Flat /Shop Purchasers from time to time. 30. ASSIGNMENT : Nothing cont ained in this Agreement is int ended to be nor shall be const rued as a grant, demise or assignment in law, of the said Flat /Apartment s or of the said Property and sa id Building or any part thereof. The Allott ee/Purchaser shall have no claim save and except in respect of the Apartment hereby agreed to be sold to him and all open spaces, parking spaces, lobbies, staircases, terraces recreation spaces, will remain the pr operty of the Promoters unt il t he said struct ure of the said building is transferred to the Society/Limited Company or other body and until the said property is transferred to the Apex Body/Federat ion as hereinbefore ment ioned. 31. PROMOTERS SHALL NOT MOR TGAGE OR CREATE A CHARGE : 35 After the Promot ers executes this Agreement they shall not mortgage or create a charge on the said Flat/Apartment and if any such mortgage or charge is made or creat ed then notwit hstanding anything cont ained in any other law for the time being in force, such mortgage or charge shall not affect the right and int erest of the Allottee/P urchaser who has taken or agreed to take such Flat/Apart ment. 32. BINDING EFFECT : Forwarding this Agreement to the Allott ee/Purchaser by the Promoters does not creat e a binding obligation on the part of the Promoters or the Allott ee/Purchaser until, first ly, the Allott ee/Purchaser signs and delivers this Agreement with all the schedules along with the payments due as stipulat ed in the Payment Plan within 30 (thirty) days from the dat e of receipt by the Allott ee/Purchaser and secondly, appears for registrat ion of the same before the concerned Sub -Regist rar as and when intimat ed by the Promot ers. If the Allott ee/Purchaser fails to execut e and deliver to the Promoters this Agreement within 30 (thirty) days from t he date of its receipt by the Allott ee/Purchaser and/or appear before t he Sub -Regist rar for its regist rat ion as and when intimated by the P romoters, t hen t he Promot ers shall serve a notice to the Allottee/Purchaser for rectifying t he default, which if not rectified wit hin 15 (fift een) days from the date of its receipt by the Allott ee/Purchaser, application of t he Allott ee/Purchaser shall be treated as cancelled and all sums deposit ed by the Allott ee/Purchaser in connect ion t herewith including t he booking amount shall be returned to the Allott ee/Purchaser without any interest or compensation whatsoever. 33. PROVISIONS OF THIS AGREEMENT APPLICABLE TO ALLOTTEE / SUBSEQUENT ALLOTTEES : It is clearly underst ood and so agreed by and between the Parties hereto that all the provisions contained herein and t he obligations arising hereunder in respect of the Project shall equally be applicable to and enforceable against any subsequent Allott ee/Purchasers of the said Flat/Apartment , in case of a transfer, as the said obligations go along with the said Flat/Apart ment for all int ents and purposes. That t he Allottee/Purchaser agrees that he shall not object to any easement right s that need to be given to any pe rson in and 36 around the said property and shall neither object to any such proceedings of land acquisition undertaken by t he Government agency including any compensat ion/benefit given to the Promoters in turn for which no conveyance has occurred to the ulti mat e body expressly stat ed in t his agreement and for which no consideration is specially dispensed by the Allott ee/P urchaser t o the Promoters for t he same, save and except his right to enjoy and use t he said Flat/apartment purchase by him and any other rig hts given by the Promoters to t he Allottee/P urchaser for which consideration has been dispensed. 34. SEVERABILITY : If any provision of t his Agreement shall be det ermined to be void or unenforceable under the Act or t he Rules and Regulations made t hereunder or under other applicable laws, such provisions of the Agreement shall be deemed amended or delet ed in so far as reasonably inconsist ent with the purpose of this Agreement and to the extent necessary to conform to Act or the Rules and Regulations made t hereunder 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 ex ecution of this Agreement. 35. APARTMENT ASSOCIATION : The Promoters shall submit the s aid project under t he provision of Maharashtra Apart ment Ownership Act 1970 and the provisions made t here under and shall always be subject to provisions of Maharashtra Ownership Flat (regulation of the promotion of t he construction, sale, management & tra nsfer) Act 1963 and the rules made t here under or the provisions of Maharashtra Apart ment Ownership Act 1970 and Maharashtra Apartment Ownership Rules 1972. Accordingly Declaration of Apartment in respect of the said building shall be execut ed and regist er ed by the Promoters with t he Sub -Regist rar of Nashik. In pursuance whereof t he Promoters will ex ecute and regist er Deed of Apartment in respect of t he said Flat /Apartment in favor of the Allott ee/Purchaser herein, upon gett ing entire amount of consideration from t he Allott ee/Purchaser. The Allottee/P urchaser herein agreed t hat he will become members of t he said Apart ment Owners Association. The said Apartment Owners Association will be known as “SHANTI 37 NIKETAN”. The Rules Regulations and Bye -laws of t he sai d Apartment Owners Association shall be binding upon the Allott ee/Purchaser and the Allottee/Purchaser shall be liable and responsible to pay t he subscript ion fees and any ot her charges of the said Associat ion from t ime t o time. 36. RIGHT TO SALE OTHER APARTMENTS : It is hereby expressly agreed and provided that, so long as it does not in any way effect or prejudice t he right hereunder grant ed in favour of the Allottee/P urchaser in respect of t he said Flat/Apart ment agreed to be purchased by the Allott ee /Purchaser, the P romot ers shall be at liberty to sell, assign, mortgage or otherwise deal wit h or dispose of their right, title or int erest in the various Shop/Flats/Apartment out of t he said building. 37. OTHER CONDITIONS : the purchase of the said Fla t shall be subject to all the following conditions : - a. The access to t he individual Flat shall be as per the sanctioned plan and/or revised plan from time to t ime. b. The construction and other civil changes done internally shall be at the risk and cos t of the P urchaser who shall not damage t he basic R.C.C. structure. c. The construct ion of chimneys, hanging telephone and telex wires, electric connection, fax, t ele printer, comput er devices which require external wiring cables, lines, dish antennas wil l not be permitted ex cept in the form prescribed by the Promoters and their Architect in writing. d. The installat ion of any grills or any doors shall only be as per the form prescribed and Promoters Archit ect . e. The Allottee/P urchaser shall not join tw o adjacent Flat and shall not demolish or cause to be demolished and is denied at any time t o make any addit ion or alteration of whatsoever nat ure in or to t he structure or const ruction of the said Flat. f. In the event of the Promoters carrying out any w ork of additions and/or alterat ions as per instructions of the Allott ee/Purchaser t o keep t he Promoters harmless and indemnified from all or any act ions if taken by any person or aut hority or incidentals thereof. The Promot ers shall not be bound to obtain completion/occupat ion certificat e as per such addit ions or 38 alterations which work shall be done by the Allottee/Purchaser at his own costs and risk. 38. METHOD OF CALCULATION OF PROPORTIONATE SHARE WHEREVER REFERRED TO IN THE AGREEMENT : Wherever in thi s Agreement it is stipulat ed that the Allott ee/Purchaser has to make any payment, in common wit h other Allott ee/Purchasers in the said building, the same shall be in proportion to t he carpet area of t he said Flat/Apart ment to the total carpet area of all t he flat/Flat Apartments in the Said Building. 39. FURTHER ASSURANCES : Both P arties agree t hat t hey shall ex ecute, acknowledge and deliver to the other such instruments and take such other actions, in additions to the instruments and act ions specifically provided for herein, as may be reasonably required in order to effect uat e the provisions of this Agreement or of any transaction contemplated herein or to confirm or perfect any right to be creat ed or transferred hereunder or pursuant to any such transact ion. 40. PLACE OF EXECUTION : The ex ecution of this Agreement shall be complet e only upon its execut ion by the Promoters through its aut horized signat ory at the Promot er’s Office, or at some ot her place, which may be mutually agreed between the Promoters and the Allott ee/Purchaser, in Nashik aft er t he Agreement is duly executed by the Allott ee/Purchaser and the Promoters or simult aneously with the ex ecution the said Agreement shall be regist ered at the office of the Sub-Registrar. Hence t his Agreement sha ll be deemed to have been execut ed at Nashik. 41. REGISTRATION OF THIS AGREEMENT : The Allott ee/Purchaser and/or Promot ers shall present this Agreement as well as the conveyance at the proper regist ration office of regist rat ion within t he time limit pres cribed by the Regist ration Act and the Promot ers will attend such office and admit execution thereof. 42. NOTICES : 39 That all notices to be served on the Allottee/Purchaser and the Promot ers as contemplat ed by this Agreement shall be deemed to have been d uly served if sent to the Allott ee/Purchaser or the Promoters by Registered Post A.D at t heir respect ive addresses specified below: Allottee/Purchase r MR. ___________________ R/o. ______________________ Promoters INNOVATIVE VENTURES, PAN NO. AAFFI5051E, a partnership firm, having it ’s office at 2, Shriman Apartment , Pandit Colony, Nashik, through it ’s partners, 1) MR. JITENDRA BABANRAO WANI, 2) MR. RAHUL UTTAM PATEL It shall be t he duty of the Allott ee/Purchaser and t he Promot ers to inform each other o f any change in address subsequent to the execution of this Agreement in t he above address by Registered Post failing which all communications and lett ers posted at the above address shall be deemed to have been received by the Promoters or t he Allottee/Pu rchaser, as t he case may be. 43. JOINT ALLOTTEES : That in case there are Joint Allott ee/Purchaser, they shall be considered as joint and severable Allottee/P urchaser for the purpose of t hese clauses in t he agreement and all communications shall be sent by the Promoters to the Allott ee/Purchaser whose name appears first and at t he address given by t hem which shall for all intents and purposes t o consider as properly served on all the Allott ee/Purchaser. 44. PAYEMNT OF STAMP DUTY and REGISTRATION FEE : The Allottee/Purchaser shall bear and pay stamp duty and Regist ration fees and all incidental charges etc. in respect of this agreement and all other agreements or any final conveyance deed which is to be execut ed by t he Promot ers in favor of Allott ee/Purchaser or Association/society i.e. organization as may be formed in which t he Allott ee/Purchaser will be t he member. 40 45. DISPUTE RESOLUTION : All or Any disput e arising out or touching upon or in relation to the t erms and condit ions of this agreement, i ncluding the interpretation and validity of the t erms thereof and t he respect ive rights and obligations of the parties, shall be sett led amicably by mutual discussion, failing which the same shall be settled through the adjudicating officer appoint under t he act. as per the provisions of the Real Estat e (Regulation and Development) Act, 2016, Rules and Regulations, t hereunder. 46. WAIVER NOT ALIMITATION TO ENFORCE : 46.1. The Promot ers may, at it s sole opt ion and discretion, without prejudice to its right s as set out in this Agreement, waive the breach by t he Allott ee/Purchaser in not making payments as per the Payment Plan including waiving the payment of interest for delayed payment. It is made clear and so agreed by the Allott ee/Purchaser that exercise of discretion by the Promoters in the case of one Allottee/Purchaser shall not be construed t o be a precedent and/or binding on the Promoters to ex ercise such discretion in the case of ot her Allottee/P urchaser. 46.2. Failure on the part of the Promoters t o enforce at any time or for any period of t ime the provisions hereof shall not be const rued to be a waiver of any provisions or of the right thereaft er to enforce each and every provision. 47. GOVERNING LAW : That the rights and obligations of the part i es under or arising out of this Agreement shall be const rued and enforced in accordance with t he laws of India for t he time being in force and the Nashik courts will have the jurisdiction for t his Agreement . 48. BINDING : This Agreement is binding on All ottee/Purchaser, his heirs, executors, administ rators, represent atives, assigns and all t he persons claiming t hrough him and also on Promot ers, all the partners, their heirs, executors, administrators, represent atives, assigns and all the persons claiming through them. IN WIT NESS WHERE OF parties hereinabove named have set their respect ive hands and signed this Agreement for sale at Nashik in 41 the presence of att esting wit ness, signing as such on the day first above writt en. SCHEDULE - I OF THE PROPERTY All that piece and parcel of Gat No.222/1A, Plot No.23, adm.869.50 sq.mtrs., (act ual area on sit e adm.702.27 sq.mtrs.), of village Ambad Khurd, Tal. & Dist. Nashik within the limits of Nashik Municipal Corporat ion, Tal. Dist . Nashik, and bounded as follows….. On or towards East : Adjacent Plot South : Open Space West : Undevelop area North : D.P. Road SCHEDULE–II All that piece and parcel of the propert y bearing Flat No. ___ having carpet area admeasuring _____ sq. meters (_______ Sq.ft. carpet) on _______ floor of the building named SHANTI NIKETAN, along with one stilt parking sit uat ed on the property mentioned in the Schedule I and bounded as follows…. On or towards East : South : West : North : SCHEDULE-III AMENITIES Structure : - R.C.C. framed struct u re with external walls 6” thick int ernal walls 4” thick. Flooring : - Vit rified tile flooring 2’ -0”X2’0” of good quality and compound area interlock. Kitchen platform : - 10 ft length ott a, Black granit e with stainless st eel sink with designers tiles dado u pto 4’0” ht and 4.5 electric point in kit chen. Toilets and Bat h : - Color glazed t iles dado upto 7’00” ht. Elect rification : - Per residential unit 20 elect ric points and 1 point cable. Plumbing : - Concealed plumbing P.V.C. P ipe and mix er shower. Doors : - Main door in bras fitting in decorative, main door aye size glass hole and call bell and ot her doors flush doors. Windows : - Three track powder quot ed Aluminium windows with safety M.S. grill. Int ernal Finish : - Asian Tractor paint & doors oil paint. External Finish : - Building outer paint in cement paint. Lift :- Branded auto door lift wit h batt ery backup. IN WITNESS WHERE OF THE PARTIES HAVE SIGNED HERE UNTO ON THIS DAY, DATE AND YEAR FIRST MENT IONE D ABOVE. 42 SIGNED SEALED & DELIVERED BY THE WITHINN AMED INNOVATIVE VENTURES, through it ’s partners, 1) MR. JITENDRA BABANRAO WANI, _____________ 2) MR. RAHUL UTTAM PATEL _____________ PROMOTERS/DEVE LOPERS SIGNED SEALED & DELIVERED BY THE WITHINNAMED MR. _____________________ _____________ ALLOTTEE/PURCHASER WITNESSES 1. 2.