Every Six month's rent will be paid as advan Society and subsequent Six months'rent will be deposited with Society in Advance at the time of vacating. on End of 4tr'Monththe Developer will transfer another six months'rent to the Members account. From the date of execution of these presents, till the valid possession of Member's new premises is received, the existing members of the societ5rmay offer/sell their flats, to the Developer on outright basis at the rate as may be mutually agreed by the member and the Developer subject to Noc of the society shall be obtained. The members who intend to sell their flat/s to a third party after vacating his/her respective flats/s, then such members shall frrst intimate & the Developer with all the details of the prospective obtain the NOC of the Society and giving und confirmation & consent of third party to the understanding that the third party purchaser shatl terms of this Agreement and all past act of the society rn re-development of the said property shall be binding purchaser and such purchaser shall not raise any objection in any manner of whatsoever in nature in respect of the re-development of the said property. The Society and the Developer shall within a period of 30 days from such intimation allow sale of the said flat/shop to a third party. In such event the outgoing member will not refund benefits of re-development received by him till then from the Developer and the transferee will not be entitled to any such benefits as the member has received. However, the new member will be entitled for the .balance benefits not received by the outgoing member. It is clarified that in the event of the members willingly deviate from the terms, the society shal^ not transfer or recognize such third party and the developer shall be entifled to claim damages, if any, suffered by it from the concerned members. The Developer agrees to keep 2 flats bearing flat no 602 &,603 having area 593.41Sq. ft. & 595.28 sq. ft. respectively as security with the Society towards fulfillment of commitment of balance payment of Rent & Hardship Compensation and Penalty if any. Once Rent of 1 year is paid and lOOo/oRCC work is completed and payment of outstanding amount as per this agreement is paid, any one flat as per request ol the Developer will be released from security by Society. Another flat will be will be released by society on getting Occupation Certificate of ADJt1100901/ 18 and members handed over possession of the flats. In case wish to change any security flat they can do by replacing the same with any other flat of similar area subject to obtaining NOC from Society. 8 . PARKING: It is agreed by and between both the parties that Developer will provide 1 covered parking to the each existing member of the society, further it is agreed between the parties that the share of Existing Members parking will be handed over to Society and Society will distribute amongst Existing Member at their discretion and further balance share of parking belongs to the Developer exclusively and the Developer shall be entitled to allot the same to the flat/shop purchaser/s as it may deem fit and proper subject to no flat owner/purchase will be allotted more than one car parking. It is also agreed that present Society members will not be given Pit car Parking slots. 9. COMMON AREAS The parties hereto agree that the following will be for common use of the ce Lobby and common passages. lift shafts, lift rooms, the cable wiring and electrilication of water tanks, Underground water tank. (g)Compoundwall. (h) Refugeareas; (i) Entire Common terrace abovethe topmost floor. [) Security Cabin (k) Electric Meter Room The common terrace above the top floors of the new building shall at all times belong to the Society and the Developers shall not deal with the same and shall not allow any mobile, telephone, cable company to put up tower or any other v [0, antenna/relay tower or any form of tower/cable -v installation thereon. '"s l8F &Wft Rsy 'i 4; rf . f \f. tu W XJt ri6*r{Ule IO.TDR/ FSI: Zq:"!S It is agreed that the Developer shall be entitled t-o consume currentlv permissible Floor Space Index (FSI) in respect of the re-development of the said Property described in the Schedule hereunder written and by using and consuming FSI i.e. FSI originating from the said Property andlor married to the same (base t FSI) and FSI which may be available free or on payment of premium (additional FSI in the form of permissible Transferable Development Rights (TDR/FSI) to be obtained from the open market in the name of the Society by the Developer at the Developer's own costs) maximum to the extent of 3.24 FSI for the proposed new construction as also the fungible FSI, in prevailing Development Control Regulations, 2034 of MCGM as Apart from this, in case of any increase in FSI in any m€urner the receipt of Occupation Certificate on completion of the Building, over and above 3.24 FSI, such additional FSI net benefi between the Society and the Developer in equal proportion. However in FSI in any maurner whatsoever after receipt of the Occupation belong only to the Society. The Developer shall have no entitlement or c whatsoever in such additional FSI. 11.RIGHT TO DISPOSE OFF FREE SALEABLE AREA BY THE DEVELOPERS: a ) The Developers shall be entitled to utilize the FSI and the TDR/ FSI on the said property along with fungible area benefits is permissible under '.'i the Development Control and Promotion Regulations,2034 as amended till Date considefring plot area to be L582.75 sq mtrs. b ) Save and except the said flat/s forming the Members' Premises as mentioned herein, the Developers shall on their own account be entitled to sell on ownership basis the flat/s in the Developers' Premises in the said intended building proposed to be constructed by the Developers on the said property to any person or persons save and except commercial shop which will not be sold such as Liquor shop, Non Veg shop, Restaurant, Flour Mill, Tuition Classes, Hospital and to enter into in their name and on their own risk and responsibility Agreements with the prospective purchasers and acquirers, and receive in their name and appropriate to themselves the sale proceeds in /e l:,- respect of such sales, the intention being that the Developers shall alone be liable and responsible to such prospective purchasers, it hLf 5. @ n"t 20 ?ot 4- "** liable and/or responsible to such prospective purchasers and acquirers under the Agreements which are contemplated to be entered into by the Developers with them. All moneys which shall be received by the Developers from such persons shall belong to the Developers subject to RERA and will be received by them on their own account without being liable to render any accounts to the society or its members and the Developers shall indemniff and keep the Society and its Members indemnified against any claims of such prospective purchasers and acquirers. However, it is Developer's responsibility to check KYC of such prospective customers and get satisfied themselves to control any bad elements are not becoming a part of the Society and further the Developers shall incorporate clause in the Agreement for Sale to be executed with the prospective buyers of their Units that commercial premises will not be allowed to use for the business of Liquor shop, Non Veg shop, Restaurant, Flour Mill, T\rition Classes, Hospital and further mention that, such prospective buyers also mention in their further transfer documents of commercial premises to third party the same prohibition for use of said commercial premises ' and except the Members' ... parking spaces i.e. the Members'car s in the said intended building, retained by the Society for embers, the balance car park spaces in the said intended belong to the Developers and the Developers alone will be allot the same in such manner as they deem fit to on ownership basis of flatl s provided no flat owner shall be ore than one car park If required, society will be asked to "16 the parking Allotment letters to the new purchaser as well d Society or any of its members shall not raise any objections towards # new members subject to terms and condition of this agreement. d) It is further agreedthat the Developersalone shall be responsiblefor any a claim/s made by any third party/s in respect of any premises sold or otherwise transferred to the prospectivepurchasers and acquirers of the units comprisedin the Developers'Premises' N, I2.ENROLMENT OF PURCIIASERS OF THE DEVELOPERS AS MEMBERS ' OF THE SOCIE"IY: The purchasers of the flats in the Developers' Premises, who have 6{f,ts the Society as per the list and copy of Agreement for possession letter forwarded /gsven by the Developers to the Society. Copies of the Agreements that may be executed by the Developers in favour of the prospective purchasers of the Developers' Premises shall be submitted by the Developers to the Society along with the membership application. The purchasers of premises comprised in the Developers' Premises shall be admitted only after the Developers notify the Society to take possession of the Members'Premises and on being admitted as ordinary members such purchasers will be liable to abide and observe the bye-laws of the Societv and all other rules and regulations as may be framed by the soci time to time. The Society hereby undertakes that it will charges, save and except the entrance, admission fees, proportionate contribution by the proposed new square feet with the Reserve Funds lyrng with the Society members. proportionate deposit lying with the society for purchasers of the Developers'Premises as ordinar5r members and the share money. The Society shall admit such allottees as the society only after the Agreement is executed, stamp duty is paid, document is registered and allottees/purchasers submit to Society all forms and indemnities as provided under the Maharashtra Cooperative .t_ societies Act, and the Society allot to each such member the required number of fully paid-up shares of Rs.50/- each in the share capital of the' society. :\ I3.LICENCE GRANTED TO THE DEVELOPERS: r il" ".|t The Society by executing this Development Agreement doth hereby give 1:*!. ,,t .\ ia .':( i . ^-l' { ri^^-^- ---^a^ rr^ ^ h----r - ,1 ,, u".n.e unto the Developers that upon grving notice of vacation to the , members the Developers and their Architect, workers, contractors etc. shall be entifled to enter upon the said property and to carrryout the work of demolition, and to carr5rout and complete the work of redevelopmentin the manner herein agreedupon subject to the MCGM rules of Development and terms of this agreement. l4.TIME FRAIVIE: The Earlier Developer has already obtained Concession from Municipal Commissioner. The Developer herby accepts and agrees to adhere to the . :- ]FT'tr tu.rl {D ,/ . xftrr) \ilr qtf ,v .ry n.{-Y$' k_ W \) U5 \K, 22 time frames as under. Time Frame as mentioned hereinbelow is eotl essence of this Development Agreement. TIMELINES a) Procuring TDR/FSI Loading for full potentiar of 3.24 FSI and getting IoD and approval of entire building plan together with payment for FSI of 3.24 within 90 days from the date of execution of this Development Agreement. The Developer will submit proposal for (i) change of Developer, (ii) Loading of rDR, (iii) plan approval, (iv) Installment Approval, and (v) plan issue within 3 days from the day of happening each of these events and proof of the same to be seen in the MCGM website and any delay caused by the approving authority after submitting subject to producing proof of (i) to (v) above will be added to the above timelines. Maximum time limit for above activity will be 180 days from the date of DA. The Developer confirms that there will be no other requirement except for (i) to (v) mentioned above. b) vacating the Building in 30 days from (a) above subject to Vacate '.,, ,notice grven by Developerto the members for vacation including . payment. However, these 30 days can be mutually extended with consent of the said Society and the said Developer. Commencement Certificate within 60 days from the (b) RERA registration within 3O days from the (c) above. ssion of the building with Occupation Certifrcate in 912 from (c) hereinabove. Before demolition of existing building of the Society, the Developer will en that all compliance for grant of Commencement Certificate except the building are complied with, as per prevailing Development Con Regulations. IS.REPRESIENTATIONSOF THE SOCIETY TO THE DEVELOPER: Subject to whatever stated hereinabove, Society herein represents and assured that: and possessedof and or otherwise well and the said property, more particularly described rnder written and delineated with red colour / r $VN boundary line on the Plan.annexedhereto and marked as Annenrre- ry 'J -Ar . t "/ \ N/, \-/ '\Y , / V fiJ6W \s V enmu "C" (for the sake of brevity and convenience h "the said Property"). (a) The Society have not sold andlor transf Agreement or arrangement of whatso person or persons except with earlier developer, by way of sale, lease, covenants mortgage, lien or charge et competent and entifled to grant the Developers herein in respect of the s entered with earlier Developer was cancelled vide Deed of Cancellation datedz-!lo4>o>L- registeredvide sr. N". @ Nfi- 2!lO4E? and copy is annexed. Howeverthe societyhad informed to the Developersthat, some of their members have obtained Housing Loan/financial assistance/mortgageLoan/other financial facilities by mortgaging or creating lien on their respective Flats the societv have issued its NOC to such Banks/financi society/creditors by recording their lien over Developer agreed to deal with such required for the purpose of redevelopment of shall obtain required permission or NOC th their re spective B anks / financial in stitution / credit may be required without holding the societyresponsibld "ir- {ri ':r. . (b) There is no order of attachment before or after judgment andl or order of injunction passed by any Court and/or prohibitory order .t. passed by aty Government, Semi-Government Authority whereby the j Society are restrained from granting the development rights for re- i+b development of the said property as is being done by virtue of these presents andlor re-developing the said property except the consent terms with earlier developer. (c) There are no proceedings pending under the provisions of Income-tax Act and/or under any other law whereby the Society are restrained from re-developing the said property andlor granting the development rights for re-development of the said property as is being done by virtue of these presents and/or redeveloping the said property. (\> ! ,& D t^', '-',t \ AD.f/i1C:r-:ll/ ) + \A st $' U 24 ,2y-i-22 has not committed any breach/s of the rules, regulations ?oQt *y statutory provisions as are applicable. ?f (e) The society made it clear to the Developer that, though area of said property is 1679 Sq. Mtrs. as per P.R. cards, but only 15g2.75 sq. Mtrs. is found on site as per physical survey. Accordingry, the Developers agreed to acquire said property for its redevelopment from the society on the basis of area 1582.75 Sq. Mtrs. (0 The Society has not received any notice for acquisition or requisition of the said property whereby the owners are restrained from granting the development rights for re-development of the said property as is being done by virtue of these presents. (g) That the tifle of the said property in the hands of the Society is clear and marketable and free from all encumbrances and free from reasonable doubts of any nature whatsoever as the developer has also verified the same and satisfied itself for the same. bers of the Society who are party to this agreement have ted to the re-development of the said property and granting t rights to the Developers herein and as and when called the Developers, the Society and existing members shall at and expenses of the Developers sign such plans and other papers and documents including consent letter, affidavits, declarations, undertaking as may be deemed fit and proper by the members of the Society as and when required and necessary fi development of the said property. s (i) Vacant and Peaceful Possession of the Property will be handed over the said Society to the said Developer for the limited purpose of its redevelopment as per this Development Agreement as Licensee of the society (t) The society hereby inform to the Developers herein that, the Flat admeasuring 344 Sq. Ft. Bearing No. 4 in 'A' Wing of the Building known as NAWOG APARTMENTS (hereinafter referred to as 'said .. .1 FlatJ of the society is attached by BHUDARGAD NAGARI SAHAKAzu SY PATSANSTHA LTD, Gargoti, Taluka Bhudargad, District Kolhapur (hereinafter referred to as .'said Patsanstha) for the recovery of their dues from the Flat Owner namelv BHASKAR the Developer agreed to deal with said Patsanstha as may be required for the purpose of redevelopment of the said property and shall obtain required permission or Noc for the purpose of redevelopment of said property from the said Patsanstha without holding the society responsible for the same. (k) The society have obtained separate Declaration from its members confirming title of their respective Flats and also confirming whether they have taken any loan or financial assistance/facilj Bank/ financial institution/ Credit society/ Creditors of such declaration the society have granted Deve said property to the Developers anC the Develo status of the members regarding Title & whether have taken [,oan or Financial facilities on their re any statements & representations of any members of the out to be false, then the society & the Managing Committee will not be responsible for the same and the Developer may directly deal with such members as permissible under the laws at their cost without holding the society responsible for the same. L6. The society have obtained separate Declaration from its members confirming title of their respective Flats ald also confirming whether they have taken any Loan or financial assistance lfacllity from any Bank/financial institution/Credit society/Creditors and on the basis of . such declaration the society have granted Development rights of the said property to the Developers and the Developers have accepted status of the { ' 'it _'\l} embers regarding Title & whether concerned members have taken [,oan or Financial facilities on their respective Flats and if any statements & representations of any members of the society turns out to be false, then the society & the Managing Committee will not be responsible for the same and the Developer may directly deal with such members as permissible under the laws at their cost without holding the society responsible for the same.Representation of the Developer to Society. a. There are no Proceedings under IBC or any other court pending as on date of execution which can adversely affect the subject project @ execution and completion. b. The Developer is not an Insolvent as on date of execution of this V fh,f "v 6, AD.,/1100ec 1/ quat zo9 m cr5 \^.4h 26 Developer has sufficient resources / Financial capabilities to frJ3 ) execute and handover Possession of the subject project. The Developer has not defaulted with any Bank/Institutions etc. The Developer has carried out the Tifle Due Diligence of tl.e subject Project and is satislied on the clear, marketable and unencumbered title including the Termination Agreement with the previous Developer. The Developer have knowledge of the Fact that, said property is admeasuring about L582.75 Sq. Mtr. as per physical survey and they agreed to take said property for the redevelopment of the same on the basis of said area and they assure & undertake with the society that, they will not dispute for the area of the said property on whatsoever grounds. g. The Developers will comply with atl statutory requirements/ compliance related to the Redevelopment of said property as per 'nonns of such Government or Statutory authorities. h. The Developers will stricfly follow and adhere to the timelines as and more particularly recorded in clause No. 14 of this t Agreement. pers will keep updated on monthly basis the progress or st ttr of the redevelopment work of the said property to the g Committee upto Occupation Certificate received by them MCGM. All updates/reports shall be in mutually agreed with the Managing Committee and in writing. IT.OBLIGATIONS AND INDEMNITIES OF THE DEVELOPERS: Agreed that it shall be the sole responsibility and liability of the Devel inter - alia to fulfil the following obligations at their own cost's charges expenses without reference or recourse to the Society; (a) The Developers undertake to take full Building Plan approval for 3.24 FSI in the project prior to commencement of work and further Developer shall comply the terms of approval and furthermore Developer has agreed and undertake to obtain the Commencement o9 Certificate from the Concerned Municipal Corporation. trr*t',u entering into appropriate Agreement on I duty thereon, and sign the utilization form appropriate application to the Municipal Corporation of Greater Mumbai (M.C.G.M.) for loading of such Additional FSI /TDR \Mith atl available benefits on the said property more particularly described in the Schedule hereunder written. (c) Developer indemnifies society of any liability arising out of the said Development either to MCGM or to any authorities, suppliers /contractors or any other third-party and Society will not be responsible for any such liability even on Termination has to incorporate this clause in their agreement with (d) Agreement for sale with the prospective buyers will Principal basis and society will not be made a party be responsible for liability to third party for obligati by the Developer. (e) The entire cost of re-development of the Said Pro exclusively borne and discharged by the Developerincluding but not limited to: - I. The cost of preparing plans, designs etc. and obtain the necessary approvals/ sanctions from the MCGM or any other concerned authorities; il. The cost of acquiring TDR and premium FSI, payment of all kinds of premium fees, cess and taxes payable to MCGM andlor any government authorities during the progress until the completion of the construction work including obtaining OC (Occupation Certificate) and until the proposed/prospective flat purchasers become members of the Society; + il. Deposits and other charges payable to any authorities; ry. Construction costs including cost of building materials, wages and salaries payable to the workmen and other persons employed for the pu{pose of carrying out the construction work; V. Fees and charges payable to Architects, Civil Contractors, R.C.C consultant, Supervisors, Engineers, Structural Engineers and Contractors and all otlter persons engaged for the purposes of VI. construction of the new building; All the amounts payable by the Developer to the Society and its (D- members under this Development Agreement; ADJ/110csc1lSh6/ 20q^/K S;, 28 All or any of the cost and expenses direcfly rerated to the re- development of the said Property and/or required to be incurred for re-development of the Said Property; The Society will not be required to make any contribution including but not limited to financial contribution of whatsoever nature towards the re-development of the said Property save and except granting Noc, if required, for the pu{pose of redevelopment of the said property. The Developer undertake to provide all the supportive documents towards payment of the cost and expenses as per above as and when required by the Society. (0 The Society may appoint a Project Management Consultant or Technical Consultant to ensure the development of the society Building is as per the terms of the Development Agreement and to provide the society with such advice and assistance as the society may need in course of the redevelopment. (e)upon all the present members vacating their respective flats, the Developers shall bear and pay, on behalf of the society and its present , all outgoing dues including Municipal taxes, water charges, s, fine, electricity charges, land revenue, lease rent, in respect [d property until one month of the obtaining by the Developer, pation Certificate from the MCGM, in respect of the new buildings on the said property and handing over the of the flats to the respective existing members. The hereby agree to indemnify and keep indemnified the Society- and its present members, in that behalf. (h) To obtain requisite permission/sanction from MCGM. and all o Competent Authorities for utilization of existing inherent FSI with available benefrts on the said property more particularly described in i-b the Schedule hereunder written. (i) To apply for and obtain layout plan of the said property and Building Plan for new building/s sanctioned in respect of the said property from MCGM and other NOC's from Civil Aviation Dept, Tree ,'#i.ii'' - i.,,: Authorities, Hydraulic Engineers, Chief Fire Offrcer, Chief Engineer of ,..#i,arr*iip d,-..1.,' Road, S. W. Drain etc. RTO, MTNL, Collector of Suburban - Mumbai etc., and to comply without any delay and d conditions that may be imposed from time to cf redevelopment of the said property. To pay all costs, charges and expenses, premium to MCGM towards development charges, staircase and lift area, parking, and/or open space sewerage charges, balcony enclosure and all other charges, fees, deposits (either to MHADA and/or Reliance Infrastructure LId/TATA and/or any other Government and Semi- Government Authorities, who on the date of execution of this Agreement utilising this facility, water meter deposit, laymg of new water pipes etc. to obtain sanction to the plans by MCGM for the full consumption of permissible F.S.I along with Additional FSI for the grant of full Commencement Certificate and which would be required to be paid/complied with till Occupation Certificate. The Developer agrees that Society and its members construction cost, expenses, and charges towards the said building/s or sanction of building proposal costs and/or charges and/or expenses for development property. The Developer hereby agrees and undertakes to handover to the members of the society, the flat with additional area of 47oh RERA carpet and the detailed existing area and additional 47o/o atea is given in Annernrre 'H", in the proposed new building on ownership basis free of cost. It is also agreed that upon the completion of construction of the new building, the Developers shall offer the possession of the flat/s firstly to the . existing members of the Society and thereafter to the new Purchasers who have purchased the premises from the Developers in the building/s (sale component). Save & Except ground floor shops possession will be allowed to be grven with Part Occupation Certificate and 100% Payment received from the said shops will be used in the construction of this project only and further subject to the condition that 15 slabs are casted for the building the said Developer will be allowed to apply for Part Occupation Certificate .and on casting of 21"t Slab the Developer will be allowed to handover possession to the purchaser of the shop. The Society will issue NOC on completionof abovemilestones. I (m) The Developers agrees that The Architect appointed by Previous Developer will continue in the said project and_Developer undertakes *> v'^ ; W*,^\ r,.A \1r|., ry q"ffi U 30 arrears of payment/fees of the appointed Architect will be the Developer. However, in case of Termination of this Agreement / or on completion of tenure of this agreement the he Architect serwices will also cease to exist whichever is earlier . 18.The Developer shall carry out the above obligations, subJect to the following (af Any Notifications, Circulars or any Guidelines being issued by any concerned Authorities or any restriction order passed by atty court of law for approving authority in general and not specifrc to the developer, which may adversely affect the obtaining of the Plinth & Further Commencement in the matter of redevelopment or the developer is not in a position to commence or to continue with the development activity due to the aforesaid reasons; However maximum time permitted to rectiff the same is 30 days from the date of getting clarification of faiting which society shall Terminate the Development Agreement. This extension of time due to above reason will be subject to RERA granting extension for the same. (bf Non - compliance of any of the obligations on the part of the Society: - Such as signing letters, applications, Affidavits etc. and rnishing the same within the 15 days of the Developers t for obtaining any of the requisite permissions in matter of redevelopment. In case any document that ires approval by General Body then the time frame i-: ft of 30 days. ,rffi Giving approvals to the Plans as and when submitted .;!tf Developer and to make allotment of the Flat/s '# Members of the Society, within a period of 30 days . ti. date of the submissions; lcf Further any information sought by the Society to the Developer shall be furnished within 7 days. An offrcial as a representative of the Developer will be appointed to deal with Society query from time to time. The Developer will make himself available for meeting with Society within 2-4 days of notice either by telephone/whataspp messages or letter/email etc. l\\Y If there is any call made by the Committee member, the Developer will U rutes or differences arising between Members of e Member/s causing hurdles/ obstructions/ rs of the oermissions/ anprovals/ sanctions or V ffiEfrtf 3r { >e/4 :-rie;::r=N6* in the matter of redevelopment or by reason of tion orders from clause as set out in clause 19 herein; the Developer to has taken the responsibility of resolving the same without impacting redevelopment deliverable timelines. 19.FORCE MA.'ET'RE. TIME E)KTENSION AND PENALTY: The Parties hereto agree that the period for completion of the construction work shall be subjects to force majeure events like: A. War, civil commotion, flood, drought, frre, cyclone, earthqu of God, pandemic or any calamity by nature development of Real Estate Project ('Force MajeureJ; B. Extension of time for giving possession as may reason where actual work of said project/buildi carried by the Developer as per sanctioned plan du or injunction orders relating to the said project t: law, or tribunal, competent authority, statutory au power committee etc. or due to such circumstances as may be decided by the authority but not due to any fault or negligence of the Developers C. If the Developer fails to abide by the time schedule for completing the project and handing over the F'lat to the Society/Member or any other reason, the Society shall be entitled to terminate the Developer from constructing the said building and this 5ti \ Development Agreement stands cancelled & revoked by the society. t\ In case at the discretion of society, additional time is granted l ) for the extended period the Developer continue to pay the monthly "t 'r' rent to the members of the Society in respect of Temporary Alternate Accommodation as provided hereunder, till the date of handing over the possession to the existing member of the Society for allotment to its members the new premises as committed herein. D. Due to any force majeure event if the timelines and deliverable extends beyond 60 days, the society shall subject to Developer applying with RERA for such extension and RERA granting the @ s€rme society shall extend for a similar period. In case no t;) extension is granted by RERA the Society can terminate the AD.r/110090 e t" f1u b2l Pages 9\ 32 Ei5{ff Y.i event. During such extended period the Developer shall the existing rnembers of the society Rent and other obligations under this agreement. If any existing Member fails to vacate and tails to handover the possession of the flat to the Developer within the prescribed duration of vacation as mentioned in the Notice Period, except for reasons explained to and accepted by other members at the General Body meeting, such member/s collectively shall pay the Developer a penalty equivalent to rent paid by the developer to the members who have vacated the premises till the entire vacation is done. upto the date of vacation by such member. However, Society will not be liable for these pa5rments. The day the Society hands over quiet, peaceful, and vacant possession of the vacant existing building/structure thereon to the Developer for demolition and redevelopment thereof will be considered as date from which construction duration will commence. In addition to the above, the Society shall get the dissenting member/s vacated after following the due process of law the cost and consequences of the Developer. If all other bers vacate except the dissenting member the Developer shall to all other members who have vacated. to complete the project in 30 Months , excluding force will be extension for the period of 6 months with Monthly month rent to the existing members of the society over and agreed monthly rent i.e. double the agreed rent under this agreement i"at payable by the Developer to its members. Such Penalty shall be paid ffi .:.Jli,P::' : t lf completion of each calendar month failing rvhich interest @ 18% p.a. sh .51 applicable. o +'./ 20. TERMINATION:- In the event the Developersfailed to fulfil the terms of this agreementor cause any breach to the said agreed terms and consequently failed / unable to perform interim milestones as per clause 14(a), la(c) & 14(e) , society shall be entitled to terminate this agreement by serving upon the Developers 15 f)i days written notice thereof, calling upon the Developer to comply with the ll$// \y terms of this agreement. However, in case the Developers fails to comply + aS. with the terms of this agreement within the said stipulated period of 15 days then the agreement herein shall stand automatically terminated $, \"/ {N\u without \Y without further further notice. notice. In VV unsold inventory will belong to the Society and the objection on that account. Any liability arising out Project either from RERA or New Buyers or MCGM or third parties/ contractors/ suppliers, only the Developer will be responsible for payment of such liability and Society will not be responsible for the same and this has to be captured in the sale Agreement with prospective buyers.The Developer agrees that if the society terminates the Development Agreement, the Developer shall provide to the Society with such necessarJi documents by following due process of law to give effect to termination. Time shall be the essence of this Agreement and in case if the Developer is not able to perform this Agreement as per the milestone as set Agreement, the Society shall be entitled to terminate and appointment of the Developer and restrain the Develo upon the Said property and carry out construction acti the Developer shall not be entifled to claim any objection. On such termination and cancellation of Development with Power of Attorney & other documents executed pursuant thereto, the Developer shall forthwith remove all its belongings from the Said Property a including its labour and workers etc. and the Society will be entifled to replace the Developer by any other Developer/Contractor and get the incomplete work completed. 2\.DURING THE PERTOD OF CONSTRUCTTON OF THE BUILDTNG/S ON THE SAID pROpERTy THE DEVELOPERS STTALL BE RESPONSTBLE/ LIABLE FOR THE FOLLOtrIING: a. For compliance of all applicable laws, rules, guidelines, laid down by central government, state government, local bodies, andlor any other laws of land, including bye-laws, Rules and Regulations thereunder; b. For payment of wages, salaries, fees, charges etc. and costs of building materials, to every person/s including atl contractors, suppliers, workmen, labourers, employees, supervisors, security personnel, @ payment to the consultants, specialists, engineers etc. engaged in the 0*v development, and construction of Building on the said property; W $p employed by the Developers. d. ADJ/11C0s01/q ra6t za!4rK Pages e9 s\) Hq j 34 c. For payment of all dues to all persons, workmen etc. engaged in the construction work including payment of any compensation/claims etc. of whatsoever nature. d. For all kinds of acts, deeds, omissions arrdl or commissions of and by any and every person engaged in development of and/or construction work on the said property. e. For adequate insurance of all workmenlstaff / labourers/employees/ agent etc. engaged in the construction work and/or for the development of the said property and for claims of whatsoever nature including those under the provisions of workmen Compensation Act and/or any other law. f. For all or any third- party claim/s in relation to the construction. Developer shall maintain the required safety during execution of iect and The Developer shall solely and entirely be responsible idents, disaster, catastrophe, tragedy, calamity, misfortune, any such happenings upon the site or €my part thereof. The shall keep Society indemnified against all such claims, damages. 22.DE,FE;CTLIABILITY If within a period of five years from the date of Obtaining Occu Certificate, the Society brings to the notice of the Developer any struct defect or defects in lifts or parking structures or any other amenities or water seepage in the Flat/shop or the building in which the Apartment are situated or any defects on account of workmanship, quality or provision of service, then such defects shall be rectified by the Developer at his own cost and in case it is not possible to rectiff such defects, then the Allottee/Member shall be entitled to receive from the Developer, M compensation for such defect in the manner as provided under the RERA Provided that, the Society/Member shall not carry out arry alterations save and except furniture work and routine mai e of the $-+ ,#w \)w ftfi ./ '5k"/r s ,'' ? M -^YJ'M @\.t'J .*_-.o.{+ 6 ,;4-E: whatsoever nature in the said apartment of phase/ structure of the said unit/wing/phase of the said building shall include but not limit to columns, beams etc. or in the fittings tJrerein, in particular it is hereby agreed that the Society or their member's shall not make any alteration in any of the fittings, pipes, water supply connections or any erections or alteration in the bathroom, toilet and kitchen, which may result in seepage of the water. If any of such works are carried out without the written consent of the Developer the defect liability automatically shall become void five Years. 23.UNDERTAKING BY THE SOCIEfY TO SIGN APPLICATIONS ETC. It is hereby specifically agreed by and between the parties Society shall furnish No objection Certifrcate and all other declarations, affidavits etc., from time to time as and development of the property and the Society also un declarations, application s, forms, undertakin gs, affidavits from entire costs and expensesof the Developerssubject to such are required for Redevelopment. 24.E'{ECVTION OF POWER OF ATTORNEY BY OIVNERS IN FAVOUR OF DEVELOPERS: The Society, upon execution of Redevelopment Agreement in favour of the Developers herein, shall also execute an Irrevocable Power of Attorney at the same time in respect of the said property authorizing the said r' Developers to do all lawful acts deeds, matters, and things pertaining to the Redevelopment of the said property and for the purpose to approach the authorities including the Municipal Corporation and the authorities appointed under the act, or any other law required to be done and performed by the Developers in that behalf as also to sign all letters, applications, affidavits, undertaking and all such other writings containing true facts and correct particulars in respect of the said property and as may be required in this behalf. Further the developer shall be entitled to sell the flat/shop/s in the developers' premises on their choice on ownership basis subject to restricted list of shop owners. However, this Power of Attorney will be Revocable in the event of non-Performance by Developer and Termination of Development Agreement and expiry of tenure 6-p nh s4 W@ i tr\ ' CA ;.€4*Ni<- I I I li 36 i lopment Agreement: nt Agreement is valid for a period of 1182 days from the date hereof subject to timely vacation as per Clause 14(b) hereinabove and upon e4piry of the same the Developer will not have any right under this Development Agreement and Power of Attorney and this does not any way deprive the right of the Society to Terminate the Developer due to Non- Performance. In case of force majeure event the Tenure of the Development Agreement gets extended to time as per MAHAReTa post which the Developer ceases to have any right under this Development Agreement and Power of Attorney and Society will have full right to Develop the said property either Self or by appointing another Developer. In case of no extension given by RERA or after the extension period of RERA the society has the right to Terminate the Development Agreement and Power of Attorney. 2s.PAYMENT OF PROPERTY TNGS/OTHER TAXES IN RESPECT OF THE SAID PROPERTY AS WELL INDIVIDUAL LIABILITIES OF MEMBERS/SOCIEIY: All rty tax, assessmentdues etc., in respect of the said property up to of handing over the vacant possession/obtaining Occupation hichever is later of the entire building standing on the said be borne and paid by the Developer and thereafter all such and the demand made in respect thereof shall be borne the Developer alone till such time the new building to on the said property is assessed by Municipal umbai &Each party shall pay and discharge its personal and liabilities including personal Income Tax, Sales Tax, Statutory, tax /VAT or other liabilities of any nature whatsoever, pertaining to said property or other.wiseand shatl see that the Society and its members is not put to inconvenienceon account of non-payment of such debts' 26.The Developer shall handover True copies of all documents, certified copy of building plan and certified copy of alt other documents during Development period. The Developer shall also upon completion of the iginal documents including IOD, All NOCs, Occupation Certificate etc. to the Society. ',tV ry 'TP' \*bv ),w*y*^\^Y cft-- V)\ ,\ ,/ N' &oq-,rH- EtttuT 8 ,, @ 27.The Existing Members who have agreed to s Agreement hereby declare in respect of his/her/their flat/shop and shares in the Society that: (a) the Existing Member is the absolute legal and beneficial owner of the his/her respective flat/shop and has a clear and marketable title to the same; (b) the Existing Member's flat/shop is free from encumbrances of any nature whatsoever and the same is not attached either before or after judgment or at the instance of any court or taxation authority or any other statutory authorities and the Existing Member has not given any undertaking to any taxation authorities so as deal with or dispose of his/her right, title and inte flat/shop and that the Member has full and absol with his/her/their share therein; (c) no other person has any claim, share, right, whatsoever nature including by way of sale, lease, mortgage, (equitable or otherwise), gift, tru tenancy, license, lien, or otherwise howsoever in tli Members' flat/shop and each Existing Member is competent and entifled to sell and transfer or deal with the same in the manner provided in these presents. If any flat/s is /are given on Leave.and License then the concerned Existing Member/s shall ensure that such flat/shop/ s shall be vacated by the licensee/s. rilP (d) on the Developers being put into possession, for the purpose of rl ti,.a, ri-:n; development in accordance with the bye-laws, rules and regulations "?r of the MHADA without. any hindr€u:tce, denial, by the Existing Member or Erny persons or person claiming through under or in s trust for the Existing Member; (e) there are no proceedings pending in any Court as on date concerning, touching, and affecting each Existing Member's; (0 there is no attachment or prohibitory order issued by any statutory authority or court prohibiting the Existing Members from dealing with or selling or transferring the Existing Member's or from executing these presents; (s) This list of amenities is general in nature however the amenities will be same as Sale flat/shop amenities and no change in the same will be there. (t) A D . l i " i1 b t-rl? lt It t 38 I I I I decision taken by the society in is sp. G.B.M herd on .2O2L, regarding appointment of developer herein for redevelopment of the society property is binding on the society subject to termination of earlier developer and tenure of Development Agreement and on all member of the societ5r and those claiming through the members shall have no right and./or authority abstract the redevelopment / reconstruction by the developer herein as per the terms of this development agreement. 28. E|XECUTION OF TRIPARTITE AGREEMENT: Agreed that Tripartite Agreement between the Society, its individual member and the Developers herein shall be executed in line with this Redevelopment Agreement. The Developer has to get themselves satisfied about the right, title and interest of atl the flat owners in whose name the Agreement will be executed. The society will cooperate in glving Share certificate and any other document sought by the Developer. 29, IBERTY FOR MODIFICATION: notwithstanding anything stated or provided herein, the have fulI power and discretion to modify, alter or very ition of this Redevelopment Agreement in any manner parties herein may deem fit, by mutual Agreement in changes/amendments/modifications shall be binding on in the event of the same being recorded and,/or reduced the same being signed by both the parties herein and upon the said writing shall become appendage and part of Redevelopment Agreement. 30.HEADINGS: The headings in this Redevelopment Agreement have been included solely for the sake of reference and shall not be considered in the interpretation or constructions of this Agreement. ENTIRE AGREEMENT . AMENDMENTS: Save and except what is agreed herein this Agreements supersedes all documents and writings (if any) executed/ exchanged between the parties hereto in respect of the subject matter hereof. No addition/alteration or ) .(rywry Ra/ e/o l'"C amendments to any of the terms, condition and herein, shall be valid, operative, effective, binding u against any of the parties hereto unless the same are recorded in writing and signed by the parties hereto. 32.MORTGAGE: The Developer is not allowed to create chargelMortgage /lien of the subject Property or any of the Member's units in the project for the purpose of raising finance or under any other arrangement. The individual buyers can avail Housing loan from Financial Institutions / Banks at their responsibility and required Noc can be given by the Developer. It is further agreed by and between the developers shall not, in any case, divert the funds project to any other project. / t.:*o //,11{ * . 33.FuRrHERAssITRANCES: [t[t ' :1 Each of the parties hereto shall co-operate with eac and deliver such Instruments and such document and action as may be reasonably requested from time to time in order,,to cau:ry out, grve effect to and confirm the rights under this Redevelopment Agreement. .NOTICES: Any notice or other communication of like nature that may be given by one party to other shall always be in writing and shall be served by hand delivery duly acknowledged or to be sent by Registered post with acknowledgement due and by no other mode at the respective addresses set out herein below or at such other address as may be subsequently intimated by one party to the other in writing as set out herein. Any such communication shall be deemed to have been served when sent by registered post when actually received by the addressee. There shall be deemed acceptance of communication in case of refusal/evasion of service of the communication. N*y 9"2- 40 OF THE AGREEMENT: The obligations under this Agreement will be binding upon and its benefits will ensure to the benefit to the parties. 36. ADDRESS OF THE OWNERSADIDDEVELOPERSAS SEf OUT HEREIN: THE OWNERS/SOCTETY "The secretary, Navyog Apartments co-op Hsg society Ltd, 14, Vishwakarma Road, Nahur, Mulund west, Mumbai - 4000g0" THE DEVELOEPRS M/s K. AJmera Developers having its registered office Address at Room No. g2, 3.d Floor, shreenathjiBuilding, r34/150, Kika street, Gulalwadi,Mumbai 400 oo4 37. JURISDICTION: The Courts at Mumbai alone shall have Jurisdiction. Further if any dispute arises bet.weenthe parties hereto, the aggrievedparty will be at liberty to the appropriate proceedings, in accordance with Real Estate Development) Act, 2076 (RERA) and Rules framed State of Maharashtra. hereby admit that this Agreement has been to them and they have understood the meaning of of this agreement and they have signed this agreement full understanding of the obligations therein. (b) All the Agreements with the prospective purchasers of flat/s, car parking spaces will be entered into by the Developers in its own name and at its own costs, expenses, risk and responsibility and on principal-to-principal basis and not as the agents of the society and/or the Members and the Society and/or the Members shall not 3 same nor they will recognize such person as evelopers shall have requested the Society in 39.STAMP DUTY, REGISTRATION AND OTHER It is agreed between the parties hereto that Stamp d and other incidental charges in respect of the existing area of the premises of each member of society required to be paid to the Government in connection with Registration of this Agreement and,/or in connection with the Agreement that may be executed by the Developers with the individual members of the Society (except additional area) shall be borne and paid by the Developers. That on the additional area, if any purchased by the Members or any pending stamp duty and registration charges shall be paid by the individual members of the society. 40.LEGAL CIIARGES: The cost and charges of Advocate i.e., Rs. 2,00,000/ Developer to the Society. 4l.List of Annernrre-The Annexures form a part Annexures and Exhibits to the Annexure attached to an integral and part of this Agreement. Annernrre *A'- old members List with Share certificate no, Area etc Annernrre "Bt' is Index II of Development Agreement dated 2s.rl.2ol3 Annernrre "C" MR Plan with Demarcation ANNE]KITRE "D -Index II of cancellation Deed Annernrre "E'- Conditional Appointment Resolution Annexure "E"- Resolution to sign and register Legal Documents ,+ ANNE'KITRE aG" Amenities List Annernrre "Htt- New axea,Hardship Compensation etc 42.Coanterparts. This Agreement may be executed simultaneously in any number of counterparts, each of which will be deemed an original, but all of which will constitute one and the sa.meinstrument. 43.Amendment. This Agreement may be modified or amended only by a \, @ )\ iu A D J / 11 0 0 9 0 1 / g- -m_l Pases 42 qiln{'tl shall not be responsible for any of the breaches done by the ?o?Q as may be applicable under Maharashtra Ownership Flat Act, 1963. (For brevigr's sake hereinafter referred to as the "said MOFA 1963".) and RERA Act, 2016 (Real Estd.te (Regulation & Development) Act, 2016). The Developer shall only be treated as the promoter under the MoFA, 1963 and RERA Act, 2016. 45.Entire Agreement. This Agreement together with all documents executed contemporaneously with it or referred to in it, constitutes the entire Agreement between the Parties in relation to its subject matter and supersedes all prior agreements and understandings whether oral or written with respect to such subject matter. 46.No Partnership- , this Agreement shall not be treated as a partnership or a joint venture between the parties hereto and this Agreement contemplates only the t rights agreed to be granted by the Society in favour of the ffi as provided herein. ent/ Transfer of Rights- tr ,]Th" rr e agree and undertake that they shall not assign, encumber t$----o.o : ,6_jr , transfer the benefits of this Agreement nor any right or obligati to any person or persons nor shall they change the constitu of the firm or induct any new partners or change the constitution of firm during the subsistence of this agreement without the the Society. The Developer hereby confirm that any change in partne will not alter/change project or terms and condition of this project and each partner at present shall be held personally liable for any breach of this agreement, regardless of any re-constitution hereafter. 48.Permanent Account Numbers- As required by the Income Tax- (lott' Amendment) Rules, 1998: 49.No waiver of Rights. Save and except as expressly provided in this Agreement,no exercise, or failure to exercise, or delay in exercising any tf . \t right, power, or remedy vested in any Party under or pursuant to this 9e,--- ul 6ff, Agreement shall constitute a waiver by that right, power, or remedy. ?o??-.=* 50. In case of demise of any Existing Member during the subsistence of this Redevelopment Agreement, the terms of this Redevelopment Agreement shall be binding on his/her heirs, executors, administrators, and assigns and heirs of such deceased member shall be deemed to abide by this Redevelopment Agreement and shall sign and execute Declaration in favour of tl:e Developers confirming that the terms and conditions of these presents shall be binding on them. The Society further undertakes not to transmit such flat/s/ garage/s in the name of heirs/nominees in its records without written permission of the Developers unless the heirs of the deceased member execute Declaration in favour of the set out hereinabove. The heirs of the deceased mem entitled to receive any further compensation save and this Redevelopment Agreement from the Developers or right adverse to the right/interests of the Developers. 5l.Arbitration clause All disputes or differences of any nature whatsoever which shall at any time during the continuance of these presents or thereafter arise between the parties hereto touching or concerning these presents or the construction meaning operation or effect thereof or of any clauses herein contained or as to the rights, duties or liabilities of the parties hereunder or by virtue of these +1 resents or otherwise howsoever or touching the subject matter of these t presents or arising out of or in relating thereto shall be referred to Arbitration and shall be governed by the provisions of the Arbitration and Conciliation Act, 1996 and any statutory modification or amendment or re-enactment thereof. The decision of the Arbitral Forum shall be final and binding on the parties hereto. The arbitration shall be held at Mumbai and the Courts at Mumbai shall havejurisdiction for all the legal process. z:LtttL VYt r'\. t-,t) t\\U A D J'i1 1 0 0 3 c51 / (r) *b 44 ffi..{:rtU 17 IN WITNESS parties hereto have hereunto set and subscribed their O?Q and seals to this deed the day and year first hereinabove written. SCHEDULE OF THE PROPERTY ALL THAT piece or parcel of land or ground bearing Surwey No. 109, Hissa No.3 (Part), Survey No. I34, Hissa Nos. 1 to 7(Part), Survey No. L44, HissaNo.ll(Part) and Survey No.144, Hissa No.2(Part) now designated as Plot No.14 (as per the sub-division and layout of the property sanctioned / approved by the then Bombay M;mbar Municipal Corporation as per Letter No. ' CE/7S/BST/L.O.T. datgd; 02.04.1970) now bearing CTS No. 551/51, admeasuring L582.75 sq.'mirs. as per Physical Survey and also area under developmentor thereaboiit iog"th". with existing building known as "Narryog Apartments Co-operative Housing Society Ltd.' standing thereon situate, lytng Marg also known as Nahur Road, Mulund (West), the Registration District and Sub-District Mumbai City and d bounded as follows, that is to say: By land bearingCTSNos.551/38 & 551/39. By land bearing CTS No. 551 / 58. O e East By existing Road. On or towards the West By land bearing CTS No. 55L / 22. w)q> {. FL V v 0y Sc"' 6-{c{ THE COMMON SEAL OF 3q0 v< The within named "SOCIETY", the party of ?o? L. -,,- ,u'r urrrrr,.rrr First Part: NAYTOG APARTMENTS CO-OPERATIVE HOUSING SOCIETY LTD. has been hereunto allixed pursuant to a resolution of its General Body Passed at its Special General Body meeting held on 02"a October 2O2I by (1) Mr. Osborn Monteiro - Chairman v (2) Mr. S. Vaidyanathan- Secretary ffi (3) Mr. Raghunath t presenceof v t^w-Wfu- 2. l4)1e}/d SIGNEDSEALEDAND DELIVERED by the withinnamed "DEVELOPER' party of Other Part: M/s. K. Ajmera DeveloPers )$vxR oth-+ Through its (1) Mr. Kirti R. Ajmera ) ) 46 Iot 3- (2) Mr. Rrneet H. v; 'THE MEMBERS') Signed and delivered by the within named Sr. No. Member/s Name SlEnature Thumb Photo Mr. Chandrashekhar Madhukar Dhotre 7t I / I - (/, l. [uj*"u q ul o t: i \ \ -&d $ h{rBltaskar S.-Thaln*rcrtd 3 w w T tlv . ,: ,,i lft 'r tl l \