Deed of Cancellation

THIS DEED OF CANCELLATION made this ……… day of ……… 2000 between P (hereinafter referred to as the purchaser) of the one part and V (hereinafter referred to as the vendor) of the other part:

WHEREAS by an Agreement …… made between the parties hereto and registered in the office of the Sub-Registrar of ……… Book No. I, Vol. …… Pages …… being No. ……… for the year 1998 it was witnessed that the party hereto of the 1st part agreed to purchase the property fully mentioned in the Schedule thereto as also in the Schedule hereunder written and hereinafter referred to as the said property at and for the sum of Rs. ……… on terms contained therein.

AND WHEREAS the party of the 1st part paid to the party of the 2nd part a sum of Rs. …… as earnest money …… on the basis of the said agreement.

AND WHEREAS the said sum of Rs. ……… was in terms of the said agreement secured by a charge on the said property.

AND WHEREAS the said agreement is in full force and virtue.

AND WHEREAS it has now been agreed by and between the parties hereto that the party of the 2nd part shall refund to the party of the 1st part the said sum of Rs. ……… and also pay a further sum of Rs. ……… on account of all his costs, charges and expenses for searches, investigation of title and on other accounts whereupon the said agreement shall stand cancelled.

AND WHEREAS the party of the 2nd part has refunded to the party of the 1st part the said sum of Rs. …… and paid Rs. ……… as aforesaid which the party of the 1st part doth hereby as also by the receipt hereunder written, admit, acknowledge and confirm.

AND WHEREAS the party of the 2nd part has also returned to the party of the 1st part the said agreement for sale dated the …………… endorsed as cancelled. Now this indenture witnesseth that for the consideration as aforesaid the party hereto of the 1st part doth hereby agree, declare and confirm that he has no longer any right, title, claim or interest in the said property under and by virtue of the hereinbefore recited agreement for sale which stands cancelled with immediate effect and shall hereafter be of no force and effect whatsoever and further that the party of the 1st part doth hereby and hereunder grant, release, discharge, reassure the said property and every part thereof unto and to the party of the 2nd part freed and discharged from the charge, security, claim, created thereon under and by virtue of the said recited agreement for sale as aforesaid and all claims, demand, cause of action arising out of or in connection with the same and the party of the 1st part doth hereby covenant with the party of the 2nd part that he has not done any act, deed or thing whereby or by reason or means whereof he is prevented or hindered from cancelling the said agreement for sale and/or releasing and reassuring the said property in the manner as aforesaid.

The Schedule above referred to

OR HOWSOEVER OTHERWISE the same may be butted, bounded, called, known, numbered, described or distinguished.

IN WITNESS WHEREOF the party of the 1st part doth hereunder set and subscribe his hand and seal the day, month and year first above-written.

Signed, sealed and delivered at …………

in the presence of:                                                                                                           P