Irrevocable Power-of-Attorney

Irrevocable Power-of-Attorney

Know all men by these presents, I, Mr. AB, residing at ………………………… …………, hereinafter referred to as the principal state as follows:

Whereas I am the owner of the land with partly constructed house on which further construction is in progress as mentioned in the Schedule hereunder.

And whereas for effective management of the property I wish to engage an Attorney so that from the income of the property or from the sale proceeds of the property, the said Attorney can liquidate any outstanding claim lying or occuring or arising against me with Messrs. ELH Home Finance Limited, in the event of my failure to settle the same.

Now know all men by these presents that I, Mr. AB, do hereby and hereunder irrevocably nominate, constitute and appoint the said ELH Home Finance Limited or any Principal Officer thereof and/or any other person who may be nominated by the said ELH Home Finance Limited, or its assigns from time to time in this behalf to be my true and lawful Attorney for me and in my behalf and in my name to represent me and do all acts, deeds, matters and things in connection with the sale of the Property/Properties as per Schedule below that is to say:

1. To negotiate on terms for and sell my property, details whereof are mentioned in the schedule to any purchaser or purchasers at such price which my said Attorney in its absolute discretion think proper, to agree upon and to enter into any agreement or agreements for such sale and/or to cancel and/or repudiate the same.

2. To receive from the purchaser or purchasers any earnest money and also the balance of purchase-money and to give good valid receipt and discharge for the same which will protect the purchasers without being required to see the application of the money.

3. Upon such receipt as aforesaid in my name and on my behalf to sign and execute any conveyance or conveyances of the said property in favour of the said Purchasers or their nominee or assignees.

4. To sign and execute all other deeds, instruments and assurances which it shall consider necessary and to enter into such conveyance as may be required for fully and effectually conveying the said property and for that purpose to engage lawyers, file suits before appropriate Courts of Law and to execute decree as I could do myself.

5. To deliver possession of the aforesaid house, flats/apartments described in the schedule below, if necessary by evicting the occupants, irrespective of their legal status in the said property and for that purpose to engage lawyers, file suits before appropriate Courts of Law and to execute decree as I could do for myself.

6. To present any such conveyance or conveyances for registration, to admit execution and receipt of consideration before the Sub-Registrar or Registrar having authority for and to have the said conveyance registered and to do all acts deeds and things which my said Attorney shall consider necessary for conveying the said property to the said purchasers as fully and effectually in all respects as I could do the same myself.

7. And I hereby agree to ratify and confirm all and whatever other act or acts my said Attorney shall lawfully do execute or perform or cause to be done, executed or performed in connection with sale of the said property under and by virtue of this deed not withstanding no express power in that behalf is herein provided.

8. This Power-of-Attorney shall remain in force and be irrevocable till all my dues with interest are liquidated finally with the said ELH Home Finance Limited and upon and full liquidation of my account with interest and costs the Power-of-Attorney shall be void automatically.

Schedule

All that pieces and parcel of land measuring 5 Cottahs be the same a little more or less together with under-construction four-storied building with all fittings and fixtures comprised in 16 self-contained flats/units/apartments and common areas, pathways, pumphouse being premises              No. ………….. Khatian No. …………. Mouza ……………. butted and bounded.

On the North by     ..       R. S. Dag No. 5

On the South by    ..       16 ft. wide common passage

On the East by      ..       Part of Dag No. 3

On the West by     ..       Part of Dag No. 6

In witness whereof I the said principal have hereunto sign and execute this Irrevocable Power-of-Attorney on this the ……… day of ……… 2000.

Signed, sealed and delivered by the above principal in the presence of witnesses:

1. …………………………

2. …………………………                                                                                    Principal

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