274 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
PROVIDED HOWEVER, it is clearly understood that no addition and
alteration of permanent nature or pucca structures will be permitted by the
Society in respect of the Apartment/car parking space, if allotted, save and
except temporary wooden partition and other temporary structures as may
be approved by the Society in writing.
19. The Member shall be bound to sign all the papers and documents
and do all other things and matters as the society may require him to do
from time to time on his behalf for safeguarding inter alia the interest of the
Society and other Members of the said building.
20. The Society may, from time to time, if necessary, with the previous
consent in writing of the Registrar of Co-operative Societies, West Bengal
and subject to the Bye-laws of the society make any stipulations giving due
notice to the Member or alter or rescind any of the regulations contained
therein.
21. The Member doth hereby agree to observe and perform all the rules,
regulations and bye-laws of the Society or which may hereinafter be
adopted by general body of the Society from time to time and at all times
for protection and maintenance and for observing and conforming to the
management and administration of the Society and the said building.
22. The Member shall not act in any manner so as to cause nuisance
or annoyance to the occupiers of the other Apartments/Car parking spaces
in the said building. In particular, the member shall not create or cause to
be created any noise after 11 p.m. except on special occasions with prior
written permission of the Society.
23. The Member shall not bring in the said building any dirt, dust, refuse,
soil, clay, or waste whatsoever nor burn nor manufacture therein any brick,
fireclay, cement or other articles nor erect or set up any fire engine or
machinery thereon.
24. The Member shall not bring in or store or allow to be brought in or
stored in the said building any hazardous (inflammable, combustible or
explosive) substance or any hides, skin, chemicals or other articles likely
to injure or damage the Building nor keep any heavy articles on the floor
of the Apartment not usually required or used for residential purpose, nor
use any coal/coke fired oven (Chula) for cooking or other purpose.
25. The Member shall be liable for payment of Municipal/Corporation
rates and taxes and other statutory levies as may be imposed on the society
or on the Members in proportion to his rights and interests in the Apartment/
car parking space and other amenities which will be calculated by the
Society and intimated to the Member.
26. The Society shall be liable for the maintenance and upkeep of the
common amenities of the building including all essential repairs on the outer
side of the building and all such maintenance costs, as will be fixed by the
Board of the Society shall be borne by all the Members including the above
Member.Ch. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 275
27. The Member shall pay a proportionate amount to be fixed by the
Society of all expenses payable in respect of constructing, repairing,
rebuilding and cleansing all walls, fences, hedges sewers, drains, gates,
paths, pavements other things, the use of which is common to the Building
and to adjoining premises.
28. The rents to be realized by the Society from the commercial spaces,
car parking spaces and any payments received by the Society by commer-
cial utilization of the premises shall be adjusted to the monthly maintenance
charge of the Member in proportion to the interest held by him in the Society.
29. That the Member hereby agrees and binds himself to pay to the
Society at all times punctually and on possession of the Apartment being
delivered to him, proportionate share in the rates and taxes, dues, duties,
impositions, outgoings and burdens now or at any time hereinafter
assessed or imposed upon the said property or upon the Member/
Purchasers thereof by the………… or the Government or Revenue Authority
in respect of the said building or the user thereof and payable either by
Purchaser, Owner or Occupier and shall also pay his proportionate share
of all outgoings in respect of the said building viz. property-tax, if any,
insurance and common maintenance of the building, common light,
sanitation, water charges, if any, charges of chowkidars, sweepers driveway
lights and all other administrative expenses necessary and incidental to the
said building.
30. The Member doth hereby agree and accept that the Society shall
have a right and absolute authority to construct or erect an additional floor
or floors as may be permitted by the….in due course.
31. The Society shall from time to time duly place before all the members
in an Annual General Meeting the accounts and expenses duly audited by
the Audit Officer regarding the expenses incurred for acquisition of land,
construction of building and other costs and expenses incurred by the
Society and all such costs and expenses shall be borne by all the Members
of the said building including the Member herein according to their
respective proportionate share and interest in the Building.
PROVIDED THAT all payments made by the member in terms of this
Agreement as hereinbefore contained shall be adjusted against such costs
and expenses to be borne by the Member.
32. The Member shall permit the Society and its agents and all persons
authorized by it together with, where necessary, with workmen and
appliances, at all reasonable times to enter upon the Apartment to take
inventories of the fixtures therein and to execute repairs or alteration
thereon or the adjoining premises or the sewers or drains thereof, and
persons effecting such last mentioned entry making good all damages
thereby occasioned.
33. If the Member shall, at any time, make default in the performance
of the regulation herein contained for or relating to the repair or maintenance276 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
of the Apartment or any part thereof, it shall be lawful (without prejudice
to any other regulations) for the society with or without workmen or others
at any time and from time to time to enter upon the Apartment and repair
and maintain the same at the expense of the Member in accordance, with
the regulations and the expense of such repair and maintenance, shall be
reimbursed by the Member to the Society on demand.
PROVIDED FURTHER that the Member shall permit the Society or its
agent, with or without workmen to enter the Apartment at any time in case
of emergency.
34. Upon death of the Member, his heirs and legal representatives will
succeed his right, title and interest and hold, possess and occupy the said
Apartment jointly without any right to effect any partition by metes and
bounds or otherwise. The Member hereby specially covenants with the
Society that in the event of his death after making a bequest to more than
one person or if he dies intestate, leaving more than one heir, the person
to whom the Apartment will be bequeathed or the heirs of the deceased
Member, as the case may be, shall hold the said Apartment jointly but shall
have no right to have partition of the metes and bounds or otherwise.
PROVIDED however that such legatees of the deceased Member may
nominate one person amongst their number in whom the right, title and
interest of the deceased Member is to vest and upon such nomination being
made such person alone shall be admitted as a member on the latter?s
demise.
35. The Member shall not be entitled to sell, transfer, assign, hypothecate
or mortgage his right, title and interest in the Apartment without the previous
consent in writing of the Society and approval of the Registrar.
36. The Member shall, at no time, demand partition of his interest in the
said Apartment/car parking space, if allotted, it being clearly understood
that the interest of the sub-lessee in the Apartment/car parking space in
the said building is impartible but heritable and transferable.
IN WITNESS WHEREOF etc.
SIGNED AND DELIVERED Chairman
by the Society and the Common
Seal of the Society is affixed
in the presence of :
WITNESSES : Secretary
1.
2.
SIGNED AND DELIVERED by the
Member in the presence of : Signature of the Member
WITNESSES :
1.
2.Ch. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 277
35 35 35 35 35
Agreement for Lease of New Shop-unit to be constructed Agreement for Lease of New Shop-unit to be constructed Agreement for Lease of New Shop-unit to be constructed Agreement for Lease of New Shop-unit to be constructed Agreement for Lease of New Shop-unit to be constructed
by Developer in a Shopping Centre under Development by Developer in a Shopping Centre under Development by Developer in a Shopping Centre under Development by Developer in a Shopping Centre under Development by Developer in a Shopping Centre under Development
Scheme?with Covenants, Conditions and Scheme?with Covenants, Conditions and Scheme?with Covenants, Conditions and Scheme?with Covenants, Conditions and Scheme?with Covenants, Conditions and
Reservations where construction is not Reservations where construction is not Reservations where construction is not Reservations where construction is not Reservations where construction is not
commenced or completed within commenced or completed within commenced or completed within commenced or completed within commenced or completed within
the stipulated time the stipulated time the stipulated time the stipulated time the stipulated time
THIS AGREEMENT is made the……………. day of………….. BETWEEN [devel-
opment company] having its registered office at [address] (hereinafter
called the Developer) of the First Part [lessee company] having its
registered office at [address] (hereinafter called the lessee) of the Second
Part and [guarantor company] having its registered office at [address]
(hereinafter called the guarantor) of the Third Part.
WHEREBY IT IS AGREED as follows :
1. The developer will at its own expenses and in a good and workmanlike
manner and with good and sound materials and in accordance with the
plans and specifications which for the purpose of identification only have
been signed for and on behalf of the parties hereto [and are hereunto
annexed] substantially complete the erection of a shop being shop unit
No….. [n the shopping centre at……..] (hereinafter called the unit) which unit
is more particularly defined in the lease [or underlease] in the schedule
hereto.
[Or. 1. In the event of the developer commencing the development of its
shopping centre at………… by the………………. day of……………… (hereinafter
called the commencement date) [subject to the developer obtaining vacant
possession of the site of……………….] it will at its own expense and in a good
and workmanlike manner and with good and sound materials and in
accordance with plans and specifications which for the purpose of iden-
tification only have been signed for and on behalf of the parties hereto [and
are hereunto annexed] substantially complete the erection a shop being
shop unit No………. in the shopping centre at……….. (hereinafter called the
unit) which unit is more particularly defined in the lease [or underlease]
in the schedule hereto.]
2. Upon the substantial completion of the unit the architect for the time
being of the developer shall certify in writing accordingly and the date of
such certificate shall be known as the certificate date [and the developer
will use its best endeavours to reach such a stage by the…………….. day
of………………]
3. Subject to the provisions of clause 4 hereof if the developer shall be
delayed by any cause whatsoever beyond its control in substantially
completing the erection of the unit to a stage suitable for fitting out by the278 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
date for substantial completion referred to in clause 2 hereof it shall be
allowed such extra time for the substantial completion of the erection of the
unit as the architect for the time being of the developer shall certify in writing
to be reasonable.
4. Any alterations or additions to the said signed plans and specifications
shall be agreed upon in writing by the parties hereto and if the developer
incurs any loss, claim or demand or is at any time delayed by any
requirement additional or alternative to those specified in the said signed
plans and specifications or by any act omission requirement or otherwise
on the part of or under the control of the lessee its contractors agents or
employees or the persons deriving title under it, the developer shall be
allowed such extra time for the substantial completion of the unit as shall
be equal to the period of delay so caused and he lessee shall indemnify
the developer against any such loss, claim or demand.
5. Of the periods of time of delay mentioned in clauses 3 and 4 hereof
and of the reasons therefor and of the amount payable by reason of the
indemnity mentioned in clause 4 hereof and of the reasons therefor the
certificate in writing of the architect for the time being of the developer shall
be conclusive evidence as to such matters of delay and that of the surveyor
for the time being of the developer shall be conclusive evidence as to
matters of such indemnity.
6. If the date for the substantial completion of the unit shall be postponed
under circumstances to which the provisions of clause 4 hereof shall apply
the rent hereinafter mentioned shall nevertheless be calculated and be
payable from such date (hereinafter called the notional certificate date) as
would otherwise have been the certificate date if no such postponement
had been made.
7. Upon the completion of the unit in manner aforesaid [and on the
developer obtaining from the [superior lessors] a lease of (inter alia) the
premises to be demised] the developer shall grant to the lessee and the
lessee and the guarantor shall accept complete and execute the lease [or
underlease] of the unit for the term of……………… years from the certificate
date [or the date of the commencement of the term of the head lease] at
the yearly rent of Rs………. clear of all deductions to be paid by four equal
quarterly payments in advance on the usual quarter days the first of such
payments to be calculated from the date of the commencement of the said
term of the lease [or underlease] or (if the provisions of clause 6 hereof are
applicable) from the notional certificate date as the case may be.
8. The lease [or underlease] shall be completed within a period
of……………. from [the date of the grant to the developer of the head lease
referred to in clause 7 hereof or] the completion of the works referred to
in clause 1 hereof [whichever shall be the later] and upon such completion
of the lease [or underlease] the developer shall give to the lessee vacant
possession of the unit.Ch. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 279
9. The lease [or underlease] shall be in the form and shall contain the
covenants conditions and provisions set forth in the schedule hereto with
such modifications (if any) as circumstances may render necessary or the
developer?s solicitors may reasonably require.
10. The lessee shall assume the right of the developer to grant the lease
[or underlease] and shall not be entitled to require the deduction of or to
make any requisitions or objections in respect of the title of the developer
to grant the lease [or underlease] but the developer hereby warrants that
it has or will have good and sufficient title to grant the same.
11. Pending the completion of the lease [or underlease] this Agreement
shall not be deemed to operate as a demised of the unit and if the lessee
shall have entered upon the unit [(otherwise than under the provisions of
clause 12 hereof)] before the completion of the said lease [or underlease]
for any purpose authorized by the developer it shall be deemed only to be
a licensee.
12. If upon the certificate date the developer has not then obtained from
the [superior lessors] a lease of (inter alia) the unit then and in such case
the following provisions shall apply to and take effect for the period of time
between the certificate date and the grant of the underlease to the lessee:
(1) The lessee shall on the certificate date be given and will accept
possession of the premises to be demised ;
(2) The lessee will from the certificate date or the notional certificate
date (if the provisions of clause 6 hereof are applicable) pay in
occupational rent calculated at the rate specified in the under-
lease.
(3) The lessee will observe and perform such covenants and condi-
tions as it would have to observe and perform if the underlease
had been actually granted.
13. The benefit of this Agreement shall not be assigned charged or
otherwise dealt with by the lessee and the lease [or underlease] shall be
granted to and accepted by the lessee.
14. The lessee shall open and be trading in the unit within………. weeks
from the certificate date or the notional certificate date (if the provisions of
clause 6 hereof are applicable) PROVIDED that the lessee shall at its own
expense within………. weeks from the certificate date or the notional
certificate date (if the provisions of clause 6 hereof are applicable) provide
and install at and to the premises to be demised in a good and workmanlike
manner and to the reasonable satisfaction of the developer a shop front or
shop fronts in the location required by the developer and complete the
interior of the unit to the occupational requirements in accordance with
plans and specifications to be first approved by the developer which shop
fronts and additions shall become part of the unit to be demised and shall280 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
be subject to the covenants contained in the lease [or underlease] PROVIDED
that the lessee shall not open the unit for trading or carrying on business
until a shop front or shop fronts are provided and installed and the interior
of the unit completely fitted out in accordance with the plans first approved
by and in accordance with the developer?s architects? requirements for the
shopping centre. The lessee shall pay to the developer?s architect a sum
of Rs……….. in respect of any approval of plans as required by this
Agreement and the proper professional charge for any such service
rendered by them to the lessee.
15. The lessee shall pay the costs of the developer?s solicitors in respect
of the preparation of this Agreement amounting to Rs…….. and also the
costs of the developer?s solicitors in respect of the granting of the lease [or
underlease] and the stamp duty thereof.
16. In consideration of the developer entering into this Agreement at the
request of the guarantor, the guarantor hereby agrees with the developer
as follows :
(1) If the lessee shall in any respect fail to carry out and comply with
all the terms agreements stipulations and conditions herein
contained on the part of the lessee or the lessee shall commit any
breach of its obligations which shall not be remedied within
fourteen days after being brought to the notice of the lessee or if
the lessee shall go into liquidation (other than a voluntary liquida-
tion for the purposes of amalgamation or reconstruction) then and
in any such case (and whether or not the developer shall have
served notice on the lessee terminating this Agreement) the
guarantor will forthwith carry out all the said terms agreements
stipulations and conditions on the part of the lessee herein
contained and will remedy any such breach including the grant of
the lease [or underlease] to and taking up thereof by the guarantor
and the guarantor will in any event indemnify the developer and
its successors in title against all proceedings, losses, costs, claims,
damages, expenses or otherwise which may be incurred or
suffered by the developer by reason of any default on the part of
the lessee in performing and observing the said terms, agree-
ments, stipulations and conditions on the part of the lessee herein
contained or by reason of the said breach ;
(2) The guarantor shall not be discharged or released from this
guarantee by any arrangement made between the lessee and the
developer with or without the assent of the guarantor or by any
alteration in the obligations undertaken hereunder by the lessee
or by any forbearance whether as to payment, time, performance
or otherwise.
17. (1) The lessee shall co-operate with the developer in an endeavourCh. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 281
to effect an opening of the unit at the same time as the opening of the
shopping centre and accordingly if so requested by the developer will delay
the opening of the unit for a period not exceeding………. days from the date
the lessee would otherwise have opened the unit for business and trading
but if the lessee shall do so at the written request of the developer then
notwithstanding any provision to the contrary in this Agreement contained
the lessee?s liability for payment of rent shall be postponed for a period
equivalent to the period in respect of which the lessee shall be requested
to delay the opening of the unit.
(2) Notwithstanding the provisions of clause 7 hereof rent shall be due
but not payable in respect of the first quarterly period if the lessee shall
complete the shop-fitting and be open and trading by the expiry of…………..
weeks from the certificate date or the notional certificate date as the case
may be.
18. Notwithstanding the grant of the lease [or underlease] this Agree-
ment shall remain in force with regard to anything remaining to be done
performed or observed hereunder and not provided for in the lease [or
underlease] and to such extent this Agreement shall remain in full force and
effect and shall not be deemed to be merged or discharged by the grant
of the lease [or underlease].
19. In the event of the developer not commencing the development of
its shopping centre by the commencement date and not subsequent
completing the unit by the……….. day of……………. then this Agreement and
everything herein contained shall be voidable by either party giving to the
other party notice in writing terminating this Agreement and in such event
neither party shall have any claim against the other but otherwise it shall
remain in full force and effect.
20. The lease [or underlease] shall be varied or provisions added thereto
so far as the developer shall require for the purpose of ensuring that such
lease [or underlease] corresponds to or is in conformity with the terms of
the Agreement for the head lease and the head lease from the [superior
lessors] and the lessee shall not object to any such variation or addition
and shall accept the lease [or underlease] PROVIDED that if such variations
or additions are substantial then the lessee may within fourteen days of
being notified of such variations or additions by notice in writing rescind
this Agreement and in such event this Agreement and everything herein
contained shall be void and cease to have effect and neither party shall have
any claim against the other.
21. The plans hereinbefore mentioned [which are annexed hereto] are
for the purpose of identification only and the developer reserves the right
to relocate the various buildings car parking areas and other common areas
shown on the said plans PROVIDED that if the unit is not built substantially
in the position shown in the said plans or if relocation of buildings car parking282 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
and other common areas in substantially different from that shown on the
said plans then the lessee may exercise the right of rescission contained
in clause 20 hereof.
SCHEDULE
[Form of lease [or underlease]
IN WITNESS etc.
[Signatures and Seals of the Developer the
Lessee and the Guarantor]
36 36 36 36 36
Agreement for Construction of a Flat upon Lease of land Agreement for Construction of a Flat upon Lease of land Agreement for Construction of a Flat upon Lease of land Agreement for Construction of a Flat upon Lease of land Agreement for Construction of a Flat upon Lease of land
being obtained by Lessee?Payment by instalments being obtained by Lessee?Payment by instalments being obtained by Lessee?Payment by instalments being obtained by Lessee?Payment by instalments being obtained by Lessee?Payment by instalments
AN AGREEMENT made the ………………… day of………20….. BETWEEN…………
[AB Company Private Limited] whose registered office is situate etc.
(hereinafter called ?the Builders?) of the One Part and CD of etc. (hereinafter
called ?the Lessee?) of the other Part.
WHEREBY IT IS AGREED as follows :
1. The Builders shall forthwith erect in substantial and workmanlike
manner a flat and garage upon the land described in the form of lease
annexed to the Agreement of even date and made between C.D. Company
Pvt. Ltd. and the Lessee [the same parties as are parties hereto] such flat
and garage to be known as etc. in accordance with the plans and
specifications which have previously been submitted to the lessee by the
Builders and with which he shall be deemed to have full knowledge subject
to any amendments or variations to the said plan and specification which
have been or may be agreed between the Builders and the local authority
[and which do not materially affect the value of the flat and garage].
2. The price of the said building works described in clause 1 hereof shall
be Rs……… and shall be paid by the Lessee to the Builders as to Rs………
on the grant of the lease and as to the balance of Rs…….. by four equal
instalments by stages upon certificates to be issued by the surveyor to the
Builder that is to say?
(i) when the external walls of the flat are built Rs……….
(ii) when the flat is carcassed by the plumber and electrician and the
floor laid Rs……….
(iii) when the flat has been plastered out Rs………..
(iv) when the flat and garage have been completed fit for occupation
and use Rs…………
3. The Builders shall complete the said flat and garage so as to be fitCh. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 283
for occupation and use and remove all surplus material plant and rubbish
from the premises before the…………….. day of………….. next unless pre-
vented by shortage of supplies of building materials strike accidents
weather or other reasonable causes in any of which cases the Builders shall
be entitled to an extension of time and shall complete the same as soon
as may be reasonable practicable.
4. The Builders shall comply with all requirements of the local authority
relating to the building of the said flat and garage and obtain all necessary
consents of the local authority and planning authority relating thereto.
5. The Builders shall during construction keep the building sufficiently
insured against fire.
6. The Lessee shall give to the Builders exclusive occupation of said land
to enable the Builders to carry out the said building works.
7. On delivery of the Building Completion certificate by the Builders to
the Lessee, the Builders shall be deemed conclusively to have complied
with their obligations under this Agreement and the Lessee shall have no
further claim hereunder.
8. The Lessee shall not be entitled to delay payment of the final
instalment of the price by reason of the existence of some minor defect
which does not materially affect the use and enjoyment of the said flat and
garage but the Builders shall make the same good at their expense with
all reasonable despatch.
9. The Lessee shall be entitled to a copy of the plan and specification
on payment of the sum of Rs…………
AS WITNESS WHEREOF etc.
SIGNED AND DELIVERED etc.At……………..
In the presence of :
WITNESSES :
1.
2.
[Signature of the Parties]
37 37 37 37 37
Agreement for Development, Construction and Grant of Agreement for Development, Construction and Grant of Agreement for Development, Construction and Grant of Agreement for Development, Construction and Grant of Agreement for Development, Construction and Grant of
Long Lease of Flats to be constructed by Development Long Lease of Flats to be constructed by Development Long Lease of Flats to be constructed by Development Long Lease of Flats to be constructed by Development Long Lease of Flats to be constructed by Development
Company at their cost?Investment Company to Company at their cost?Investment Company to Company at their cost?Investment Company to Company at their cost?Investment Company to Company at their cost?Investment Company to
grant Leases and the Development Company grant Leases and the Development Company grant Leases and the Development Company grant Leases and the Development Company grant Leases and the Development Company
to retain premium?Rent being reserved to retain premium?Rent being reserved to retain premium?Rent being reserved to retain premium?Rent being reserved to retain premium?Rent being reserved
payable to the Investment company payable to the Investment company payable to the Investment company payable to the Investment company payable to the Investment company
AN AGREEMENT made the………… day of…………. 20…… BETWEEN AB284 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
Company Limited whose registered office is situate etc. (hereinafter called
?the Investment Company?) of the One Part and CD Limited whose
registered office is situate etc. (hereinafter called ?the Development
Company?) of the Other Part.
WHEREAS :
(1) The Investment Company are seized and possessed of as Owners
with the absolute title of the property known as [brief description of the
property] shown on the plan annexed hereto and thereon coloured red
(hereinafter call ?the Property?).
(2) The parties hereto have been agreed that the Development Company
shall erect a block of twenty-four flats and sixteen garages on the Property
and lay out the grounds and gardens thereof and shall dispose of the same
on the terms and in manner hereinafter appearing.
NOW IT IS HEREBY AGREED by and between the parties hereto as follows:
1. The Development Company shall with all reasonable dispatch prepare
detailed plans and specifications for the erection of the said flats and
garages and shall submit the same for approval by the appropriate authority
under the Building Regulations within three months from the date thereof
and shall make such amendment and alterations thereto as may be
necessary to obtain such approval.
2. The Development Company shall thereafter at their own expense and
cost in all respects erect the said flats and garages to the satisfaction of
the local authority.
3. The Development Company shall insure the said flats and garages
against fire during the course of construction and until the same shall be
disposed of in manner hereinafter provided in the full value thereof [in the
name of the Development Company and the Investment Company] and
whenever required produce to the Investment Company the policy of
insurance and the receipt for the last premium for the same.
4. The Investment Company will if so required by and at the expense
of the Development Company mortgage the Property to secure money (not
exceeding Rs………..) borrowed by the Investment Company for the
purpose of construction of the said flats and garages and the Development
Company hereby agree to indemnify the Investment Company against all
liability costs, claims and expenses in respect of such mortgage.
5. The Development Company shall sell the said flats and garages at
such premiums as they shall think fit and at rents of Rs……….. per annum
in respect of each flat and Rs………. per annum in respect of each garage.
The sale shall be effected by the grant of lease each for the term of ninety-
nine years from the……….. day of…….20…….. such leases to contain the
covenants terms and conditions in the form annexed hereto. The Investment
Company hereby agree to grant the said leases. The legal and other costsCh. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 285
and expenses relating to the grant of the said leases (save so far as they
shall be borne by the lessees) shall be borne by the Development
Company.
6. If at the expiration of eighteen month all the said flats and garages
have not been sold and the leases granted as aforesaid the Investment
Company shall grant and the Development Company shall take up leases
of the flats and garages unsold at the rents aforesaid.
AS WITNESS WHEREOF etc.
SIGNED, SEALED AND DELIVERED
by the Parties At……………
In the presence of :
WITNESS :
1.
2.
38 38 38 38 38
Agreement for development and sale of joint property under Agreement for development and sale of joint property under Agreement for development and sale of joint property under Agreement for development and sale of joint property under Agreement for development and sale of joint property under
a development scheme in small plots by one of the a development scheme in small plots by one of the a development scheme in small plots by one of the a development scheme in small plots by one of the a development scheme in small plots by one of the
co-owners, other co-owners agreeing to sell co-owners, other co-owners agreeing to sell co-owners, other co-owners agreeing to sell co-owners, other co-owners agreeing to sell co-owners, other co-owners agreeing to sell
their shares and execute power-of-attorney their shares and execute power-of-attorney their shares and execute power-of-attorney their shares and execute power-of-attorney their shares and execute power-of-attorney
in favour of the developer-co-owner in favour of the developer-co-owner in favour of the developer-co-owner in favour of the developer-co-owner in favour of the developer-co-owner
THIS INDENTURE is made this……….. day of………..
Two Thousand…..
BETWEEN (1) A.B., wife of B. B., by religion Hindu, by occupation housewife,
(2) C.B., son of B.B., by religion Hindu, by occupation business and (3) E.B.,
son of B.B., by religion Hindu, by occupation business, all residing at………..
hereinafter collectively referred to as ?the OWNERS? (which term or
expression shall unless excluded by or repugnant to the context be deemed
to include each of their respective heirs, successors, executors, adminis-
trators, legal representatives and assigns) of the ONE PART AND M. N., son
of P.N., by religion Hindu, by occupation business, residing at………..
hereinafter referred to as ?the DEVELOPER? (which term or expression shall
unless excluded by or repugnant to the context be deemed to include his
heirs, successors, executors, administrators, legal representatives and
assigns) of the OTHER PART.
WHEREAS by an Indenture of Conveyance dated……….., made between
one P .Q. and the Parties hereto jointly with two others, namely (1) P . S., son
of Late R.S., and (2) P . P ., son of K.P ., as described therein, and registered
with the Office of the Registrar of Assurance at……….. and entered in Book
No. I as Deed No……….. for the year……….., the parties hereto, jointly with
the two others named hereinbefore became seized and possessed of or286 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
otherwise entitled to as joint and undivided owners of one-sixth equal
shares each in ALL THAT piece or parcel of land hereditaments and premises
containing an area of……….. Bigha……….. Cottahas……….. Chittacks………..
sq.ft. more or less TOGETHER WITH buildings, structures and several out-
houses standing thereon situate lying at and being portion of the land
comprised in Mouza?. J.L. No……….. Touzi No……….. R.S. Dag No………..
G.S. Dag No………….. R.S.. Khatian No……….. G.S.Khatian No………. under
P.S……….. Sub Registration Office……….. in the District of……….., more fully
described in the SCHEDULE ?A? written thereunder and hereinafter referred
to as ?the said Joint Property?.
AND WHEREAS for better management, enjoyment, control and admin-
istration of their joint estate the parties hereto jointly with the said P .S. and
F .P. mutually partitioned by metes and bounds the said Joint Property and?
the said Partition was effected by a Deed of Partition executed on the………..
and registered in the Office of the Additional District Sub-Registrar,
at……….. and entered in Book No.1 as Deed No……….. for the year………..
AND WHEREAS in pursuance of the said agreement and Deed of Partition
the said joint property was amicably divided into two lots namely LOT-E/
A and LOT -E/B, more fully mentioned and described in the Second and
Third Schedule thereunder written.
AND WHEREAS by virtue of the said Deed of Partition the property
described under LOT -E/A comprising two-third undivided share in the said
Joint Property as fully mentioned and described in the Second Schedule
thereto and also described in the Schedule hereunder written, containing
an area of……….. Bigha……….. Cottahas……….. Chittacks……….. sq.ft. more
or less, was allotted to the parties hereto jointly, each having his one-fourth
undivided share or interest therein.
AND WHEREAS the parties hereto of the First Part, described herein as
?the Owners? are desirous of selling or otherwise disposing of their three-
fourths joint and undivided interest in the said joint property and the party
hereto of the Other Part, described herein as ?the Developer? is willing to
purchase or otherwise develop the said joint property and offered to
purchase the said three-fourths undivided share of the Owners in the said
joint property as fully described in the schedule hereto, at or for a price or
lump-sum consideration of Rs……….. only to which the Owners have
agreed.
NOW THIS INDENTURE WITNESSETH as follows:
1. The Owners agree to sell and the Developer agrees to purchase ALL
THAT the undivided share or interest in the piece or parcel of land
hereditaments and premises comprising an area of………………….
Cottahas……….. Chittacks……….. sq.ft. more or less, being three-fourths
undivided share in the said joint property described as LOT-E/A in the
recited Deed of Partition dated……….. and also fully described in theCh. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 287
Schedule hereunder written and hereinafter referred to as ?the said joint
property?, at or for the price or lump-sum consideration of Rs………..
(Rupees………..) only subject to the terms and conditions hereinafter
contained.
2. The Developer has this day paid to the Owners the sum of Rs…………
(Rupees………………….) only as and by way of earnest money and part of
the purchase consideration and the balance of the purchase money
amounting to Rs……….. (Rupees………..) only shall be paid at the time of
completion of the purchase.
3. Subject to a good and marketable title being made and the property
being found free from all encumbrances, attachments, charges and other
claims and demands whatsoever and not subject to any scheme of
acquisition or requisition, the purchase shall be completed within three
months from the date hereof.
4. THE OWNERS AND THE DEVELOPER DO HEREBY DECLARE AND
COVENANT as follows:
(1) That the Owners hereby grant exclusive right to the Developer to
undertake development scheme upon the said property by raising
the low-lying areas thereof by earthfilling and doing other neces-
sary development works thereon, entirely at the cost and expenses
of the Developer.
(2) That the Developer is hereby authorised in relation to the said
development scheme upon the said property to prepare lay-out
plan/scheme converting the said property into several small plots
suitable for building sites, by laying out proper road or roads
abutting the said plots for which all necessary costs and expenses
shall be borned by the Developer.
(3) That the Developer is hereby authorised to negotiate with prospec-
tive buyers for sale of the said scheme-plots at such price or prices
as the Developer in his absolute discretion may think proper and
to agree upon and to enter into any agreement or agreements for
such sale or sales to receive from the purchaser or purchasers of
the said plots any earnest money and/or the balance of purchase
consideration.
(4) That insofar as necessary all dealings by the Developer in respect
of the said property and/or the said plots including agreements for
sale or transfer thereof shall be in the name of the Developer by
virtue of the authority given hereunder, PROVIDED HOWEVER the
same shall not create any financial liability upon the Owners in any
manner whatsoever.
(5) That the Owners shall execute the deed of conveyance or
conveyances in favour of the Developer or his nominee or nomi-288 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
nees or assignee or assignees in such part or parts as shall be
required by the Developer and all legal costs and expenses
including. Stamp Duty and Registration Charges shall be borne
and paid by the Developer or his nominee or nominees or assignee
or assignees.
(6) If the Developer shall fail to complete the purchase within the time
aforesaid the earnest money shall be forfeited to the Owners or
the Owners may at their option enforce specific performance of this
contract by the Developer and the Developer will also be liable to
pay the costs and expenses of proceedings for specific perfor-
mance.
(7) If the Owners fail and/or neglect to complete the sale in favour of
the Developer or his nominee or nominees or assignee or assign-
ees as and when called upon to do so by the Developer or
otherwise to carry out any one or more of the obligations on their
part as provided herein or otherwise required by law, the Developer
will be at liberty to enforce specific performance of this contract by
institution of legal proceedings and the Owners will also be liable
to pay the costs and expenses of such legal proceedings to the
Developer.
SCHEDULE OF PROPERTY ABOVE REFERRED TO:
[Description of the property]
IN WITNESS WHEREOF , etc.
[Signatures of all the parties]
39 39 39 39 39
Agreement between Lessors of Flats in a multistoried Agreement between Lessors of Flats in a multistoried Agreement between Lessors of Flats in a multistoried Agreement between Lessors of Flats in a multistoried Agreement between Lessors of Flats in a multistoried
building and a maintenance company to indemnify building and a maintenance company to indemnify building and a maintenance company to indemnify building and a maintenance company to indemnify building and a maintenance company to indemnify
the Lessors in the event of Breach of Covenant the Lessors in the event of Breach of Covenant the Lessors in the event of Breach of Covenant the Lessors in the event of Breach of Covenant the Lessors in the event of Breach of Covenant
for maintenance by the Lessors contained is for maintenance by the Lessors contained is for maintenance by the Lessors contained is for maintenance by the Lessors contained is for maintenance by the Lessors contained is
the Original Lease Deeds the Original Lease Deeds the Original Lease Deeds the Original Lease Deeds the Original Lease Deeds
THIS AGREEMENT is made the ……………. day of………..20….. BETWEEN
AB Company Pvt. Ltd. of etc. (hereinafter called ?the Owners?) of the ONE
PART and CD Company Pvt. Ltd. of etc. (hereinafter called ?the Company?)
of the OTHER PART.
WHEREAS :
(1) The Owners have previously granted leases of or have agreed withCh. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 289
the Company hereafter to grant leases of the flats and garages in the
Building fully described in the copy of the lease annexed hereto.
(2) The said form of lease contains a covenant by the Company with the
lessees and the Owners to maintain the Building in so far as the obligation
to do so is not imposed on the lessees and the lessees to pay service
charges to the Company to reimburse the Company the cost of maintaining
the Building.
(3) The said form of lease further contains a covenant by the Owners
with the lessees to observe and perform the Company?s covenants to
maintain the Building should the Company fail to do so.
NOW IT IS HEREBY AGREED by and between the parties here to as follows:
1. In consideration of the indemnify on the part of the Company hereafter
contained the Owners hereby agree :
(a) to pay to the Company in the case of each flat and garage in respect
of the period from the………… day of…….. 20…… being the date on
which the Company undertook [or will undertake] responsibility for
the maintenance of the Building to the date on which the lease is
[or was] granted of the flat or garage (as the case may be) the
amount (if any) which would have been payable by way of service
charge by the lease under the terms of the lease for the said period
if the lease had been [or is] granted on the date on which the
Company so undertook [or will so undertake] responsibility [Pro-
vided that the liability of the Owners under this paragraph shall be
limited to actual expenditure by the Management Company in
respect of the said period and shall not include any sums included
in such service charge to provide a reserve fund for any subse-
quent period ;
(b) that at the request of the Company they will enforce the covenants
entered into or to be entered into on the part of the lessees of the
flats and garages to pay the said service charges on the Company?s
indemnifying the Owners against all costs and expenses in respect
of such enforcement and providing such security in respect of costs
and expenses as the Owners may reasonably require ;
(c) that they will not transfer their interest in the Building or grant a
concurrent lease thereof without requiring the lessee to enter into
an agreement with the company in similar terms to this Agreement
provided that in the case of a concurrent lease the agreement to
be entered into shall be expressed to be binding for the term
granted by the concurrent lease only.
2. In consideration of the agreement on the part of the Owners contained
in clause 1 hereof the Company hereby agrees to observe and perform the
Company?s covenants to maintain the Building entered into or to be entered
G : CDD (Vol. 5) ? 19290 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
into in the lease of the flats and garages and to keep the Owners indemnified
against all actions proceedings costs, claims and demands whatsoever in
respect of any non-observance or non-performance thereof.
IN WITNESS, etc.
40 40 40 40 40
Agreement for post-construction services and maintenance Agreement for post-construction services and maintenance Agreement for post-construction services and maintenance Agreement for post-construction services and maintenance Agreement for post-construction services and maintenance
of flat constructed upon leasehold land under of flat constructed upon leasehold land under of flat constructed upon leasehold land under of flat constructed upon leasehold land under of flat constructed upon leasehold land under
a Housing Society a Housing Society a Housing Society a Housing Society a Housing Society
THIS MEMORANDUM OF AGREEMENT made this the????? day of??
20…… BETWEEN????? HOUSING SOCIETY of?????? in the Dis-
trict of?????. hereinafter called the FIRST PARTY (which expression
shall unless excluded by or repugnant to the context deem to mean and
include its heirs, successors, assigns etc.) AND A.B. and B.B. both sons of
C.B., residing at???????. hereinafter called the SECOND PARTY
(which expression shall unless excluded by or repugnant to the context
deem to mean and include their successors, nominees, assigns etc.)
stipulates that:
WHEREAS the nominee and assignee of one of the constituent members
of????? HOUSING SOCIETY confirmed by the Society in writing, the
SECOND PARTY became a Joint LESSEE as per Deed No?????
dated????.. registered at????.. Registry and became entitled to
BUILD its OWN apartment through the approved contractor of the Society
and was duly allotted the WEST side 1st Floor apartment of????.. sq.
ft. area and had in consequence constructed their apartment as per
approved plan of the Society, only the central 5? partition wall 15 ft. wide
and 10 ft. in height remain to be completed to separate and divide the
Central big Hall making the West Side Hall 26 ft. x 15 ft. approx which the
SECOND PARTY would complete before entering the premises and taking
possession of the apartment from their nominee and caretaker.
AND WHEREAS the SECOND PARTY on their own and through their
accredited agents paid the full bills of the contractors so long due and
the?????? HOUSING SOCIETY is to maintain the outer portion of the
premises along with other portions of the other recognized members of the
Society or allottees.
AND WHEREAS the Society has offered the services for Water Supply and
general maintenance of the outer portion of the premises.
NOW THIS AGREEMENT WITNESSETH as follows:
1. That for all such services the Second Party would regularly pay to
the FIRST PARTY the sum of Rs????..only per mensem as the serviceCh. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 291
charges for the maintenance of outside walls common passages, outside
wall painting, maintenance and repair of the outside pipe lines etc. it being
clearly understood that the interior walls, their painting, maintenance and
repairs etc. of the sanitary and waste pipes from inside the rooms, cleaning
and clearing of these without blocking the outside waste pipes etc. and
thereby keeping them clear of obstructions shall be at the cost of the Owner,
i.e. of and by the SECOND PARTY and all the outer ares being serviced and
maintained by the FIRST PARTY.
2. That the above sum of Rs????.. is payable from the?????..,
the date of occupation of the West side First Floor and on due notice by
the First Party it is to be paid on or before the 7th day of each English
calendar month in advance for the said month.
3. That the Second Party on full payment of the Bills of the contractors
on account of the construction etc. of their portion of the First Floor West
side apartment including electrical work and sanitary work through the
Society and as per inspection by the accredited agent of the SECOND PARTY
would be entitled to receive from the FIRST PARTY all help and assistance
to get their names mutated and recorded in the books of the?????
Municipal Corporation or they can do it themselves as OWNER and
OCCUPIER of the WEST SIDE FIRST FLOOR FLAT measuring approx????
sq. ft. on production of this REGISTERED AGREEMENT paid bills of the
contractors and the xerox copy of LEASE Deed No??? of???? and
the RELEASE DEED declaring the name of the SECOND PARTY as
constituent members of the????? HOUSING SOCIETY in respect of this
Flat, the Society however having no liability in the matter except to render
all assistance to the SECOND PARTY, the Owner-Member. On getting
registered in the books of the?????. Municipal Corporation, the
SECOND PARTY is to pay all taxes and impositions by the State and the
Corporation and/or any local Administration in respect of this West side 1st
Floor Flat i.e. in respect of the apartment owned by the SECOND PARTY.
3. That the SECOND PARTY shall apply for their own electric meter and
pay their own meter charges and consumption charges and the proportion-
ate share of the Joint Electricity charges for pumps and lighting of common
areas etc. These payments to be usually made to the First Party, the Society,
on receipt of the Bills within 15 days of demand to prevent supplies being
stopped or disturbed in any way.
4. That both the First and Second Parties agree to make further or
supplementary agreements regarding maintenance etc. if and when such
occasion arises on mutually agreed terms.
IN WITNESS WHEREOF etc.
[Signatures of both the parties]292 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
41 41 41 41 41
Agreement between Lessees of Block of Flats for Promotion Agreement between Lessees of Block of Flats for Promotion Agreement between Lessees of Block of Flats for Promotion Agreement between Lessees of Block of Flats for Promotion Agreement between Lessees of Block of Flats for Promotion
of a Company to acquire the reversion of the Lessor?s of a Company to acquire the reversion of the Lessor?s of a Company to acquire the reversion of the Lessor?s of a Company to acquire the reversion of the Lessor?s of a Company to acquire the reversion of the Lessor?s
interest in the Block of Flats and managing the interest in the Block of Flats and managing the interest in the Block of Flats and managing the interest in the Block of Flats and managing the interest in the Block of Flats and managing the
same for the benefit of the Lessees after same for the benefit of the Lessees after same for the benefit of the Lessees after same for the benefit of the Lessees after same for the benefit of the Lessees after
Acquisition?each Lessee to hold one Acquisition?each Lessee to hold one Acquisition?each Lessee to hold one Acquisition?each Lessee to hold one Acquisition?each Lessee to hold one
share against his Allotted of Flat share against his Allotted of Flat share against his Allotted of Flat share against his Allotted of Flat share against his Allotted of Flat
THIS AGREEMENT is made the……………….. day of………. 20….. between
the several persons whose names are set forth in the Schedule hereto
(hereinafter called ?the Lessees?).
WHEREAS :
(1) The Lessor are the lessees of the flats and garages lying and situate
in the building known as…………… at………….. (hereinafter refund to a as ?the
Mansion?).
(2) Each Lessees holds a lease for the term of ninety-nine years from
the………… day of………….. 20…..of the Flat and garage the numbers whereof
are set out opposite his name in the Schedule hereto.
(3) The reversion immediately expectant on the leases held by the
Lessees as aforesaid is vested in AB Company Limited whose registered
office is situate, etc. (hereinafter called the ?the Lessors?).
(4) The Lessors have indicated their willingness to dispose of the
reversion in the building of the Lessee and the Lessees have agreed
amongst themselves to acquire such reversion in the manner hereinafter
appearing.
NOW IT IS HEREBY AGREED as follows :
1. The Lessees shall engage Messrs……………….. solicitors, to act on
their behalf :
(a) in the formation of a company limited by guarantee and having a
share capital (hereinafter called the ?the Management Company?)
for the purpose of acquiring the said reversion in the building and
thereafter managing the same for the benefit of the Lessees ; and
(b) in the acquisition of the reversion in the building by the Manage-
ment Company.
2. The memorandum and articles of the association of the Management
Company shall be in the form prepared by Messrs………………… [Solicitors]
acting in the joint interests of the Lessees and providing inter alia for a share
capital of Rs……… divided into… share of Rs……… each, for one share to
be purchased by the Lessee of each flat in the building and for the shares
at all times (so far as possible) to be held by the lessees of the flats andCh. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 293
for a prohibition against any person being registered as a holder of a share
who is not a lessee of a flat in the building.
3. The first directors of the Management Company shall CD and EF being
two of the Lessees and they are hereby appointed the agents of the Lessees
to act solely on behalf of the Lessees in all necessary dealing between the
Lessees and Messrs………………… [Solicitors] for the purposes of this
Agreement.The said CD and EF shall periodically report to the Lessees
either in writing or by calling a meeting on at least two days written notice
to the Lessees. In the event of Messrs………………… [Solicitors] requiring for
the purposes of this Agreement instructions from the Lessees on any
specific matter the instructions to be given jointly on behalf of the Lessees
shall be decided at such a meeting as aforesaid (the decision of the majority
of the Lessees present at the meeting either in person or by proxy being
building on all the Lessees. There shall be one vote in respect of each flat
in the building).
4. The price for the freehold reversion in the building shall not exceed
Rs…….. (exclusive of costs). Messrs…………………….. [Solicitors] are
authorised to employ Messrs…………………….. chartered surveyors of………….
aforesaid to negotiate the price with the Lessors if in their discretion they
consider such course advisable.
5. (a) On the signing hereof each Lessee shall pay to Messrs………………..
[Solicitors] the sum of Rs……….. on account of the costs to be incurred by
them in pursuance of their engagement for the purposes of clause 1 hereof.
(b) In the event of the reversion in the building being acquired as
aforesaid each Lessee shall on completion of such acquisition subscribe
for and be allotted one share in the Management Company. The shares shall
be subscribed for in cash, payment in full being made on application for the
share subject to the payment made by each Lessee under sub-clause (a)
of this Clause being applied in part payment of the price for that Lessee?s
share.
(c) In the event of the reversion in the building not being acquired as
aforesaid the payments referred to in sub-clause (a) of this clause shall be
refunded subject to the provisions of clause 6 hereof.
6. (a) In the event of the reversion in the building being acquired as
aforesaid the costs of Messrs…………………..[Solicitors] in fulfilling their
engagement in accordance with clause 1 hereof (including any fee payable
to Messrs…………… [surveyor] under clause 4 hereof and all fees, duties and
printing, stationery and other charges in connection with the formation of
the Management Company) and all out of pocket expenses of the CD and
EF in connection with clause 3 hereof shall be paid by the Management
Company out of the sums scribed for the shares therein.
(b) In the event of the reversion in the building not being acquired all such294 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
expenses as are actually incurred shall be discharged out of the sums
referred to in sub-clause (a) of clause 5 hereof (such expenses being borne
by the Lessees equally) and subject hereto such sums shall be refunded
to the Lessees.
7. If before the completion of this Agreement any Lessee shall assign
his leasehold interest he shall require the person in whose favour the
assignment is made to become a party to this Agreement in his place by
endorsement hereon.
8. This Agreement shall bind the personal representatives of the lessees.
THE SCHEDULE
[Set out three columns, the first setting out the full names of each Lessee
and the second and third columns setting out the number of the flat and
the number of the garage respectively of which each Lessee is the lessee.]
IN WITNESS WHEREOF etc……………….
[Signature of all parties]
42 42 42 42 42
Scheme of Development for Selling Leasehold Flats? Scheme of Development for Selling Leasehold Flats? Scheme of Development for Selling Leasehold Flats? Scheme of Development for Selling Leasehold Flats? Scheme of Development for Selling Leasehold Flats?
Developer promoting a management company and granting Developer promoting a management company and granting Developer promoting a management company and granting Developer promoting a management company and granting Developer promoting a management company and granting
Lease of the entire site with Block of Flats?management Lease of the entire site with Block of Flats?management Lease of the entire site with Block of Flats?management Lease of the entire site with Block of Flats?management Lease of the entire site with Block of Flats?management
company agreeing to undertake Sale of the Flats at company agreeing to undertake Sale of the Flats at company agreeing to undertake Sale of the Flats at company agreeing to undertake Sale of the Flats at company agreeing to undertake Sale of the Flats at
best bargain and pay the Developer?management best bargain and pay the Developer?management best bargain and pay the Developer?management best bargain and pay the Developer?management best bargain and pay the Developer?management
company is controlled by the Developer?upon sale company is controlled by the Developer?upon sale company is controlled by the Developer?upon sale company is controlled by the Developer?upon sale company is controlled by the Developer?upon sale
of all the Leasehold Flats the Flat-Owners control of all the Leasehold Flats the Flat-Owners control of all the Leasehold Flats the Flat-Owners control of all the Leasehold Flats the Flat-Owners control of all the Leasehold Flats the Flat-Owners control
the Management company as shareholders? the Management company as shareholders? the Management company as shareholders? the Management company as shareholders? the Management company as shareholders?
Developer continues to hold the ground Developer continues to hold the ground Developer continues to hold the ground Developer continues to hold the ground Developer continues to hold the ground
rent as Head Lessor rent as Head Lessor rent as Head Lessor rent as Head Lessor rent as Head Lessor
THE COMPANIES ACT, 1956
(COMPANY LIMITED BY SHARES)
MEMORANDUM OF ASSOCIATION
A.B.C. Company Private Limited
1. The name of the Company is ?ABC? Co. Private Limited. ?
2. The registered office of the Company will be situate at….
3. The objects for which the Company is established are?
(1) To enter into and carry into effect with or without modification
a lease intended to be made between ABC Property Co. Pvt.
Limited of the One Part and the Company of the Other PartCh. 46] DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 295
in the terms of a draft which has been marked ?A? and an
agreement intended to be made between the Company of the
One Part and the said ABC Property Co. Pvt. Limited of the
Other Part in the terms of a further draft which has been
marked.
(2) To manage, administer and deal with lands, building and
immovable property, either on its own account or as trustee,
nominee or agent of any other company or person.
(3) To carry on any other trade or business whatsoever which can
in the option of the directors be advantageously carried on by
the Company in connection with or as ancillary to any of the
above business or the general business of the Company.
(4) [Etc. (usual subsidiary objects clauses)].
4. The liability of the members is limited.
5. The share capital of the Company is Rs……….. divided into 100 shares
of Rs…… ….. each.
We, the several persons whose names and addresses are subscribed,
are desirous of being formed into a Company in pursuance of this
Memorandum of Association, and we respectively agree to take the number
of shares in the capital of the Company set opposite our respective names.
[Names, addresses and descriptions of subscribers.]
THE COMPANIES ACT, 1956
COMPANY LIMITED BY SHARES
ARTICLES OF ASSOCIATION
OF
ABC Company Private Limited
PART I
1. The Company shall forthwith enter into the lease and the Agreement
referred to in clause I of the Memorandum of Association with such
modifications (if any) as the directors may approve.
2. So long during the continuance of that lease as the Company is the
holder of term created thereby the regulations contained in Part II hereof
shall apply to the Company and in the case of any inconsistency between
those regulations and any regulations otherwise applicable to the Company
the regulations contained in Part II hereof shall during that period prevail
provided that in no case shall they operate in such a