2l inserted solely for convenience of reference are solely for ease of reference, and are of indicative natue only, and in no way define, limit, aategodze, ampli| or describe the scope, interpretation or intent, of any term. condition. Agreement, or the intent of any 3-l The Societv and DeveloDer is dulv under the laws of lndia and that each of them is competent, is permitted by its respective coDstitutive documents and./or incorporation documents and./or Applicable Law to which such Party is respectively subject to, to enter into this Development Agreement and bind itself hereunder. 3-2 Each of the Parties rcprcsents and wanants that it has the firll power to execute, perform and deliver this Agrcement and to consummate the hereby. This Development Agreel[ent and w tten obligations entered il1to with the transaclions contemplated , constitute or \&ill constitute follo$i thereof valid and legally binding ob , enforceable against it in accordance with its 3.3 The signatories arc duly authorized to exscute this Agreement in a manner binding upon the said Party and that all approvals and procedures necessary for vesting such authority in the signatories of a Pa(y hereto have been duly obtained and complied with. - ).1 j.4 Ile execurion. delirerl and pertormanie b1 eacfufo1. oI Lhis '. I Development Agreemenl and the documef,ifuHgr..,n"n,, ,. I provided for herein, and the conswnmation by it of rhe hansactions \ contemplated hereby, is not violate of the provisions of any {} Applicable Law ro which it is subject or any of rhe provisions of irs \J- - { *y"':WV.* *",ryE ' constirutional documents or any judgnent, decree, order or a$ard *.-fw;trffi 22 .1. DECLARATION BY SOCIETY AND MEMBERS: Society and Members Save as otherwise provided in this document'the hereby declare and confirm as under: - as Lessee and subject to the Ownership of the said "&- \P .Y,r"',ut 1LXffii 1vK6 #' o&ni,, 29 of the said Property and there upon demolish the existing building and in tems of the Commencement Certificate and the Sanctioned Plans obtained construct the said New Flats are to be provided by the Agreement. 6.',l The Developer shall be entitled to proceeds which may be receivable against debis on demolition; 6.8 The Developer, to make the proposal viable, shall be entitled to utilizeexisting consumed TDR as also other premium FSI as may be permissible. The Developer shall purchase and acquire premium FSI entirely at its costs, effofis and expenses in the name of the Society. 6.9 The Developer after registration will be entitled to display its lins that the said project of the Developer and further y the projections, elevation and leatures and promotional purposes to inform of the project.Whereas. affer completion of the Project the Developer is enrirled to install/ erect the bmnd name/ sigl boards in and around the building permalently. '7. SANCTION OF PLANS. ALLOTMENT OF MEMBERS NEW FLAT .- AND VACATING OF EXISTING PREMISES BY NIEMBEB! '7.1 The Developer shall develop the said Property as per the sanctioned plans and approvals tlat are obtained MHADA,/ MCGM, which shall be applied for and name ofthe Society. 7.2 After the finalization of the Plan between the ,"r"ror"# L @- ,:",:1-"T:"r:, the Developer shall conmence.the process for X obtaining all the Approvals ftom the Authorities and shall W, /\ KK ": \**Y -+%x.z*q* 4/ n thereupon submit the plan duffinnroved by the Society/ Members ngo- ,,,k ,^,f e/-kiq P"r:u s f t'{ ) rLwnm,*.u;_{o*lt i0 of tlte said Property thrcugh the Architect of the Project in respect and the said New Buildiog to the MHADA / MCGM and all the statutory authorities for its approval within a period of 2 Ea!-r:s \ ) monlhs from the date of execution hereof' swyl(6" MHADAJ MCGM and/or all the necessary statutory ire any amendments or modification to the plan of the said authodties location' area or Property and/or the buitding plan, whereby the floor layout of Members' New Flats and/or Members New Car or changed' Parking Spaces in the layout plan is altered-/ amended the Developer shall be entitled to carry out such modifications then consent of the and anendments after seeking the prior uritten Society/ concemed Member. '7 .1 As per the timelines mentioned hereinbelow marke ,t\od t4Jv $/, ."e- 4r' 6t' K* I9."' aytaa 4zro*\ .-Tqa.ir p Ir 7.7 The Existing Members shall, upon receipt ofthe draft plans fiom the Developer uhich are c€€€ Speliat -Qeneral Bod), Meeting (i) of Existing quorum of the Existing Mem each of theoldMemberc their case may be, and the Member' paces to theold Members, (ii) in resp€ct of Ne\+ MembeN, the allotrcnt of Membe$ New Flats or Member's Car parking Spaces shall be done by the Developer ir consultation with the New Members and the Society. 7.8 Once the Plans are sanctioned and the Developer receives IOD, each of the Member shall within 45 days from the date of intimation from Developer of receipt of IOD, vacate their respective flats for the demolition ilg and tbr commencing the work of Properly. Further, before the vacating shal1 enter and execute u'ith lor Pcmanent Alternatc the premises to be allorted to Plans will be mentioned. 7.9 Thereafter, the Developer shall demotish the said building within 3 months ftom the date of the last Member handing over the vacant and peaceful possession of the premises, and obtain the Commencement Certificate in respect of the proposed building D from the MHADA/ Municipal Coryoration within further period of 2 months. The Developer shall complete the construction of tire entire building r.riLh all ameniries and wirh Occupation Cenificare within n the rimelinc h.rainhal^u,4h; frFnti^hF.l hereinbelow timeline mentioned \ If? : ..-.. \ 6o-L-, as Annexure -7- and marked and shall handover possession of the Members New Flars tb- ""uY X \t4 s. ry*' \ said Property for any of the reasons which are beyond the for completion of the Develope .e.Force Majeue, the time the period the project shalt stand suitably extended considering \]Y"y y occasioned on account of such reasons;save and except for Q reasons set out in clause 1(xxiii)hereinbelow' "r? '7.11 The Developer sball intbm the Society in ildting within 7 (seven) event as defined in days from the happening of any Force Majeure stard extended this Agreement; alld the Development Period shall in any of the above eventualities or any Force Majeure event' continue to pay However, the Developer shall be liable to and shall to the Membe$ the rental compensation in respect of the temporary altemate accommodation as provided in Clause 8'6 obtained by the hereof till such time the Occupation Certificate is Developer in respect of the Members New Flats in the p€riod' Building and up to the end ofthe Possession Notice addition to \\'hdt is stated in alause 7 11 above, it is event ofthe Developer is rcshained by a cout of ion or concemed approving authority to stop further at site on account ofthe litigation of proceedings filed Society and/or any Members, the delay occasioned oII account of stoppage of development and construction activities of the said Properly or passing of plans and getting the approvals frqm concemed authorities shall be excluded in computiig pe od of 48 project' months provided to the Developer for completion of the The delay on account of the reasons stated in this paragraph shall not be attributed to the Developer and the Developer shall not be' treated or deemed 1o be in breach of the tems of the contract as recorded in this prcsents for development and construction of the proposed building on thc said Propedy; save and except for the r+- s/ reasons set out irl clausel(xxiii) hereinabove Before issuing the notice to vacate to the Members, the Developer tv shall be entitled to hold a neeting of all the Membe6 and satisfy himself regarding readjness of all the Members to vacate their W premises. It shall be the obligation of all the Members to ensure p that th€y vacate their respective premises that are in their use occupation and possession $ithout ensuring smooth and timely .HHf"a".;"i]-l+-. of the said Property. g\D9 .19 a4 '1.t4 All the cheqrLes peltaining to rental ompensatroq tgr :Ist;Month, Corpus, Shifting Charges, Brokerage stT Guarantee etc. as mentioned herein shall be handed over to the Society by the Developer pdor to the Membe$ vacating their existing premises and the Society shall hand over all the Cheques to the Members at the time of Member vacating the Existing Flat. Whereas, the lst Tenwe of 11 months of the monthly compensation shall be deemed to have commenced from the date of last member handing over peaceful and vacant possession of his/ her flat to the managing committee of the so64fi ive of the date mentioned on the cheque- The of 11 ["r] Months shall be handed over to the 9' to the Members vacalirlg their exi sha11 hand over all the Cheques to aftcr the last member vacate their )11ty the vacant and peaceful possession of the and keys ofthe said existing flats to the society in tum to be ganted to the Developers for derno)ition. 7.t5 It is further agreed that in the event of any of the l,Iember not vacating his premises within the time stipulated herein then in such a case the defaulting Member shall be liable to pay to the Developer an amount of Rs.15,000/- (Rupees Fifteen Thousand Only) per day as liquidated damages (which is a genuine pre- estimate of the loss or damage that is likely to be suffercd by the \W Developer on account of such defaulting Mem Pd- the expiry of the date as set out in the notice to \Y, ard undeNtood that in the event delay is caused by Society in a- handing over the vacant possession of the said Propefiy and the said buiJding because of non- co-operation in vacaling hjs premises (K \*, *1 '"f W--., , , €*;fi; { the tirqe ganted to the Developer fo! obtaining the commencem( *vxwJW;P, .':'P Y\*N("*\F^& :r,#, t 3,1 to be ganted shall ipso facto stand extended; Permission stay back to the seoetary and flat No l for enforcement of 7.15 beyond the stipulated time. the timelines 1.16 Fthe Developer fails to get r}re IOD as mentioned in hereinbelow and marked as Annexue "7", the Society will be and at liberty to forfeit secwity deposit and Society will entitled to on their own or be at the liberty to take-up redevelopment either Developer/agency award entire rcdevelopment project to any other may deem fit' or proceed for self-development as the Society 8. BROKERA.GE AND SHIFTINGCTIARGES ETC': the vacant Sinrultaneously whiist calling upon the Members to handover possession oftheir existing flat, : K:";"Ft.Ftt\eveloper shall pay a sum of Rs. 47.00'000/- (Rupecs Fortv i :sfd ,ff$". Srt#* onlv) to the societv. rhis sum or Rs' 47,00,000(1 l*lH. H;t,:q#' l:* .'::":T ?:ll'.I'^T llT;"i'ill1Y" Thrce Lakhs Only) paid by the Developer along with the ffnder ag..r:egatlrrg to Rs 50,00,0001 shall be teated as inlerest {..- : .ij: - "* free Security Deposit and shall be dealt with as mention€d in ttli: :"-"r.:Tl"ueposuanosna,,ocuscrt" @ 8.2 The Developer shall pay rental compensation to tutt ftd' ,:H [-":i':i ;:il.}..,,::':1il:' ;il"iii T /Developers for facilitating demolition as cootemplated in these presents and the same shall continue till the Developer offering possession of the Membe6 New Flat in the New Building and the Rent shall start or y from the date oflast member vacating the flat' ffi The Members shall make their own arrangements for temporary altemate accommoalation elsewhere and withio period of 45 days ftom the receipt of the Notice to Vacate handover the vacant and v 35 cheques peftaining to rental charges, brckerage- bank be handed over to the Society shall hand over all the Cheques Members vacating the Existing and haQitg g\,eiithe same to the Developer for demolition.The I ,t Tenure of I I months of Rent shall commence from the date of last member vacating and handing over possession of the flat along with the keys to the society. 8.4 The Developer shall alongwith Notice to Vacate being addressed to Member forward to the Society under a Covering Letter the rcquisite Cheques drawn in the name of the Members for amount equivalent to one-montl rental compensation towards one time shifting charges. one mooth rental ion towards brokerageand coryus amount ln the manncr as rccorded herei to acquire for themsel',,es suitable which would be occupied by on period commenciDg ftom the shall vacate the premises, and the Societf Cheque to the Membd who have executed and rcgistcred Individual ::? Agreeme[t for Altemate Accommodation. [,i ii;.itz 8.5 To ensue timely payment ofthe monthly rental compensation, the Developer shall simultaneously under a separate cove ng letter forward to the Society Cheques drawn in the name ofthe Members towards the Renral Compensalion for the initial period of ll._ -, months in advanceat the rale and amounl as menlioncd h"r"*der*{ H, and shall further towads the subsequent period issued post Dated Cheques favouring the Member in the manner as provided and @- recorded hereunder. The Society shall hand over all the Cheque to (K the Members at the tine ofMember vacating the Existing Flat and handing over the same to the Developer for demolition. x -?, g A i6 4 l--"\ .-a.d , \ Developer shall issue Cheques drawn in favour of the towards the Rental Compensation in the following \:*v \" lt"j't .t Period Nlonth in which old Nelv Cheque to be Member Member h:rnded over [Rs. Per [Rs. Pcr Monthl Monthl From the date of Simultaneously 4s000/- vacating the with notice to per month premises to l1 vacate for Old months and I Members month rent es brckerage and shifting charges sEgLsr4i \ ,oooo ,", '6r# 'P\o* in ( $vr* '$^il{le Cheque bv qqyi,,f,r,:,: fotsNew 100/- per sq. Lsuemsr!) fl Members. ft. on By 1l PDCS and existing 1- month rent as carpet area brokerage and shifting charges Rs 30000 per Member ,#t,l From Month l2'" PDC at the time 49500/- I 10/- per sq. . to Month 22'd ofVacating the Per month ft. on Month from the Premises existing date of vacating ca4)et area pk-\ w- !l w ,,^, the premises From Month 2-1rd PDC at the time 54450/- l2ll per sq. ql "oi*$ to Month 33rd of Vacating the Per month ft,.oi' Vx &,," A of fiom Month the Premises existing datc vacating carpet area l/ dth' fu (u, zri .Jn ' ,.0-v-- .4,, -'v.5 V-J .U"r.t gr- u" 1v* \'rl &ar r^9 v > co ;foe d cr$xa1 lN/ .( ,9'' { 5q.1a r P 31 the premises From Month 34th PDC at the time 59895/- 133/- per sq. to Month 481h ofVacating the Per month ft. on Month from the Premises existing date of vacating ca4)et area the premises From Month 49th PDC before the 80,000/- 2701- pet sq. onwards till completion of Per month ft. on possession of the 446 mon6 existing Members New Flat is offered by tr Grqt * Developer with lu K,rl I A Occupation Celtificate L RoR 8.7 In the event if any cf the cheques issued by the Developer is dishonoured, then the .to pay an interest on the amount due @ 18% or any pafi thereof calculated of actual payment. This is without of the Society to invoke the 8.8 The obligation to pay the continue till the possession of the new flats is offeredto the Existing Member. As soon as the New Flats in the proposed building are completed with all the agreed amenities and the Developer procure the Occupation Certificate from MCGM, the Developer shall a copy of the Occupation Ceftificate to the Societv intimate about the same to the Members and offer them possession {-K of the respective flats. Within 15 days ftom the date ofthe receipt 0.8- u of notice, the Members shall, shift to the newly constructed flat (Y- l" ( the New Building x (u,' .W g .otn q \ 38 8.9 Members shall be deemed to take possession ofthe New flat olr the expiration of 15 day of such notice as envisaged in clause ffi:35 hereinabove, irrespective of whether they have taken actual possession of the new flat or not and from the date the Members shall be liable to pay maintenance, taxes eYl9rl;s-.I outgoing in respect of the said Flat would be bome by the bers. At the time of taking possession all un-utilized cheque that would be remaining in possession of the Member, shall be rchmed by such Member to the Developer prior to taking possession of the New Flat. If any Member has wrongfully deposited any check for encashment which was not due and payable by the Developer, the Developer shall pleserve his dght to recover such amount prior to handing ovq the possession of the Memben Nerv Flatto the Member concemed. The Devetop.faftbr calling ,-ipcn the Members to take possession ofthe Flat, the . '( * shall annex cedificate from the Architect of the project ;:) the area of the said Flat. In the event, due to planning the area of the Flat is less than what is ageed then the / Developer shall pay Rs.50,000/- (Rupees Fifty Thousand Only) per square leet of shortfall to such concerned Member and similarlv-i the event, the area ofthe Flat is more than what is agreed Member shall pay Rs.50000/- (Rupees Fifty Thousand square feet forsuch increased area along with the letter upoD the Members to take possession of the Flat. It is till the time payment for such shortfall not made. the Sociew shali not release an area ofapproximately 480 square feet (RERA carpet area). Similarly, it is ageed that till the time payment for such \ ,(- CIq \ \\ ,:r / inqease area is not made by such member then the Devrcloper sha[ W - n W not hatrdover possession to such member. fl.-Sf' ' atYl I e. HARDS*TPALLowANcEs: \,' !,' ^ L,, -n is agreed that the Deveroper shan pay to New Membe$ ffi uY -al" Rs. "r-J*, *b y( /-(Rupees y;ub q" ; ,p!e . f,$ *- \. t4:'*n'y*S,.):Y f.qJ,r%, y"y: ^ t"$F