39 Only) calculated at the mte ofRs. l,5OO/- per square feet towads Hardship Allowances, which amount shall be prcportionately divided among the New Memben as per the area in existing premises in use, occupatiod and possession ofthe New Member. The Old Members ofthe Society shall not be entitled to paynent of any among allorvances. The said palment shall be paid to thc Nerv instalments: 50% shall be paid against the Society possession ofthe said ertire property with;iT the Developer for facilitating demotitio[ of the building; 11. 25%o by way of PDC which shall become due and payabte upon expiralion of I year from the time of Society handing over the vacant possession ofthe said Propcty; and iii. 25% being lhe balance amorult at the time ofDeveloper handing over possession ofthe Members New Flat in the New Member. IO. BANK GUARANTEE: Simultaneously whilst calling upon the and peaceful possession of their existing flat 10.1 To financially secure tlte Sooiety in respect ofthe payment of the Rental Compensation, Brokerage, Shifting Charges etc. that is payable to the Members, the Developer shall submit a Bank Guarartee issued by COSMOS CO-OP. BANK LTD. for the W amount ofRs.2.50.00.000/- [Rupees Tuo Crore Fifty Lac Only]. ^ tu "Uiry yl- The Bank Guaxartee can also be invoked by the Society if there is {" a default on the part ofthe Devetoper to pay Rentat Compensation to the Menbers, then irr such a case the Society shall intimate in @_- .(\) { *riting to the Developer that the Society intends to invoke such the Bank Guarantee to make good the payment of the outstanding ffntal Com hich is due and defaulted by the Developer. vr "hB l'.:Y,- c"*n, D'n A t) 9- \ t)o 6$t-i)wf ,YnA wo'' llfn#ot clF' 40 ithin a period of 3 days ftom the wfitten intimation by the to the Developer, the Society shall be ertitled to invoke .jY"Jlt: Guarantee to make good the payment of the outstanding Compensation which is due afld defaulted by the Developer. 10.3 The amounts received on the invocation of the Bank Guarantee shall be duly deposited by the Society in a separate bank account to be opened in the name of the Society and dedicated only for the pu.po.". to make good the payment of the Rental Compensation *. which is due and defaulted by the Developer. The Society shall give all the necessary accounts ofthe amounts spent by the Society to the Developer. The amounts received on the invocation Bank Guarantee shall be utilized by the Society for the the outstanding Rental Compensation and the maintain statement of account and provide a copy statement to the Developer. The Developer shall keep the Bank Guarantee valid and alive until the complete Occupation Certificate has been obtained by the Developer and thee (3) months thereafter. The Society shall have an absolute dght ro invoke the Bank Guaxantee ifthe Bank Guara[tee is expidng within thirty (30) days ftom the date ofexpiry and the Developer has omitted to renev/the Bank Guarantee- wirhout prejudice to all its other righrs. 10.6 The invocation ofthe Bank Guarantee shall be done by the Society by passing of Special Resolution of the Committee Members. stiEh. . Resolution has to be passed by the majority of the Commiftee Member of the Society and no individual Committee Member / 0p Member of the Society shall have right to invoke the bank \' guarantee. 10.7 In case if there is a deficit with regad to the paymelt of Rental Completion on account of delay in completion ofthe construction ^ S4-- of Members New Building, post invocation of the Bank cuamntee, M n* "l \ the Developer shall be liable ancl obliged to reimburse / firnd such ,, $r' ll;,9"%.' ;;*:''ffi;i"':"JT*' w€v dil n;"!,?!, !r \' s", ' \), 6* I r b :ll deficit to the Society within 3 days enable the Member to realize the 11. THIS AGREEMF'NT: The Members undertakes that no Member shall, duing the subsistence of this Agreement, be eltitled to transfer, assign, sell in any manner whatsoevq his interest in his Existing Flat, as the case may be, or the benefits or obligations under this Agreement without execution of Deed of Adherence / Undertakings from any such purchaser(s) ( .,permitted Transferee" ) (as per the format to be mutually agreed between the Society and the Developer) and rcgistration thereof with the offrce of the Sub_ Regislrar of Assurances inter-alia to adhere and abide by all the terms and conditio$ and obligations ol this Ageement and Redevelopme[t. The Society hereby undertakes not to allo cause the transfer such Membels' New Flats in the name o in its records tmless the permitted Tmnsferee Deed of Adherence/ Undertaking (as per the between the Society and the Developer).Such not be entitled to receive any further/additional above what is provided herein from the Developer or ary right adverse to the rights/ interest of the Developer. Only upon receiving such rcgistered Deed ofAdherence/ Undertaking will the Society validate the aansfer ard accept such third_party purchaser as Member of the Society. t2. TRKING: PO, As per the Area Statement presented by the Society, the "*irdrg I building consists of3TResidentjal Tenements of which 27 are Old Y Residential Tenements ard l0 are New Residential Tenement ard KL the toral area ofsuch premisc is 1776.57 square melers equivalenr r:.) {'w ro 19123 square feet. o fu ar .*"n% !-I . Fr{ . g.,,f,r'. O W ^-4 1'14 & i-Y"::" ;v7s*) 9 -Et ^1"" )f ,MO v.t ro *r.y' o*. ir. u.". *in "r-pt.a and excrusive Re- ^g. 'tt- n developni6ii of tlre said properry by urilising, exploiting and $$d,',.ffi r"Yn\ ffi'7u1$, %'rnb;.,".,-H 5l consuming the Aggrcgate FSI nomenclated in any man[er incl / premium / firngible / fu rther/fu ture development capable offiei:rg',ritilis-ed on the any FSVTDR for this purpose and to pay the rcquisite fees, premium and charges, not exceeding threshold FSI of 8 I ,000 square feet, upto obtaining the Occupation Certificate.; 17.2 To demolish the existing building orl the said property and to construct the New Buildings thereon as the sanctioned plans. The debris and salvage of the buitding including the doors, windows etc., shall belong to the Developer and Developer shall be absolutely at liberty to dispose off the may seem fit and proper and recover and realize ln any manner accounting for the to rhc sxid and its Members. 17.3 To alail the existing water for the development of the said cost and expenses for the use of such facilitibs paid by the Developer; 17.4 If the Developer so desires, the Developer shall be entitled at their costs and risk to obtain and avail ofloans, credit, finance, advances, overdrafu and,/or moteys u,hatsoever from banks, financial and credit institutions and./or any other persons for the redevelopment of the said Propety and on a principal to pdncipal basis and the 4_ o-, Developer shall be fully entitled and at liberty to create any mortgage, charge and/or other secudty in rcspect of Developer,s New Flats, Developer,s Car parking Spaces provided however that the firnds so raised shall be used only for the prcject. 'ufrtr 1'7.5 To take all decisions with rcspect to the lay-out, desigr, aesthetics, ,. "q|. plarufng. development, quality. amenities, Iay- out infrastructure. Jfz; { intemal access roads and all facilities, amenities and services in the -r @ ruv 4 @, w Pw o&ta< €aail , I ^o "4- n\bP'P*q-& *V** tuN \u2,.,,*;ryr- ar J*r- o-.,{=,"'ii'P \ -ffi 5.1 layout ofthe said Property and/or the New Buildings and to provide the same as per this Agteemenl. prepare the design of the iayout of the said prcperty and of the Buildings and the manner in which the Aggregate FSI shall be and efficiently utilized on the said Propety. 17.7 To apply and obtain all the necessary Approvals in the name ofthe Society only thrcugh Society's appointed Architect and pMC and their authorised nominees and representatives alongwith License Structue Elgineers, Lioense Site Supervisor, pMC, Licensed Plumbel MEP Consultants, from all concemed statutory and local authorities including but not limited to MHADA/ MCGM, Revenue Authorities, Govemment of Maharashtra and all its ministies gnd departments, Govemment of India and alt its ministrid. and departnents, delense establisfunents includilg the MOEF, AAI. Air Force, Airport Authority, concerned public / statutory ities / piivate utilities, MHADA, MCGM, HpC with respecr Re- development of the said Property and appll, for. deal appear before and obtain from the concemed authorities all necessdy sanction or Approvals including IOD, ommenccmeit Certificate, revised Commencement Certificate. Occupation Certificate and all such orders, certificates, permissi extensions, modifications, clearances, exemptiors, may be necessaxy for the full, ftee, uninterrupted and '{f' % Redevelopment of the said Property. 17.8 amalgamation ofadjoining Society, ifthe adjoining Society is being redeveloped by the Developer, without any change in the schedule \ W q-v of project and such amalgamation may be done only until such time till the completion ofplinth and the Society shall not object for the W same. Ho\r'ever, if there is any increase in the FSl, the Threshold FSI stated herein, due to above 'or due to permissions lor addirional height beyond 57.t3 merers A.M.S.L., , rhen the Developer and Sociery shall share the increased buik-up d ;fl **.^ a.tflh.r _W.fl vp*'{ 9 ,*, T' Nt,V, 6 lu w- \ %, o';ryx l.r\ \ 55 area (FSI) after deducting all costs i up area (FSI) as mutually agreed Society. The Developer also amalgamation, any and all the terms this Agreement including but not rents, charges, cornpensations, areas, accommodations, amenities, penalties, periods, corpus etc. will remain valid and otherwise unaffected irl any manner whatsoever. The increase in FSI in the event of amalgamation, if any, shall be in the same proportion considedng the ratio of the plot area of the Society as against the plot area of the adjoining property to be amalgarnated. The Developer confirms and agrees that all such dircct, indirect and,/or incidental costs, charges, expenses etc. requircd to be paid to the various govemment dcpartments, MTIADA and all other authoriries or otherwise, due to amalgamation, $i alone. ffifffis\-$ t1.t) To deal with all the statutory Re- development as uay be required for and all permissions and consents relating staircase, lift and lobby, enclosure of balcony, inliastructure development, sale scmtiny, high- dse approval, civil aviation, layout scrutiny, project layout, basement, sewerage, fungible FSI and as may be required for smoothly and efliciently caxrying out and completing the entire Re-development and const uction of tho said Propery. *'k "&z 17.10 To make, sign, execute, submit and address all declarations, documents, undertakings, papers, plans, writings, Y indemlity bonds, lette6, corffnunications, returns, rcprcsentations. &r statemelts, tems, conditions, etc., to or before all competent authorities and srarulory authorities including tlre MCGM. @- ^-C\_i(. MHADA, MoEF. MM RDA. Urban Developmenl Depanment of y:.' the State of Maharashtra, Revenue and Forcsts Department of the I State of N{aharashtra, the MCZMA, the Tata power Company {bw 9 N 56 Undertaking (.'BEST), Mahanagar Telephone Nigam Limited q €?L "), Mahanasar Gas Ltd ("MGL") Comnlissioner ofPolice ) other Police Authorities, Maharashtn Pollution Contol Board, .": or all public and private suppliers / providers of utilities and services, and also the obtairunent fiom them of all Approvals, permissions, sanctions, exemptions and orders as may be necessary to carry out and./or implement any of the tems, provisions and purposes herein contained with respect to the Re-development of the said Propertyonly through the Society,s appointed Architect ard PMC and their authorised nominees and representatives alongwith License Structure Engineers, License Site Supervisor, pMC, Licensed Plumber,MEP Consultants. 17.11 To carry out and comply with all the conditions contained irl Approvals as may be obtained fronl time to time. ::.:::*l';'::.::,:':;il#::i::'fi :xL:r& consultant, elevator consultants and other consulta[ts and professionals as may be required for the Re-development of the Property or any part thereof and [egotiate their terms and execute and administer contracts, agreements, work orders and all other deeds, documents arld writings with all such third party consultants, contactors, advisors, and agents and to amend, vary and modifu their terms ofappoinrmcnt and to replace/subsrirute such persihs as . i deem fit and proper by the Developer,exceptthe Society's appointed ;. Architect and PMc,their authorised nominees and representatives . " alongwirh License Stluctule Engineers. License Site Supervisoi. PMC, Licensed Plumber, MEP Consultants. \v 17.t3 To identifu, s€lect and appoint competent liasoning agents, architectural and designing person as may be required for the Re- V' V u* rw N development of the said Property or any pan thereof, by the Developer, at his own costs. trI) &*r/t;, sW +Y.f,,Y',.VZZi \ e o{-*;--e €q-tar 6 t