Developers Agreement and sale of ownership Flats froms by Gupta

V5_CH46A

136 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
30. (a) In case at any time hereafter and before or after the delivery of
possession of the said unit to the Buyer the said building or any
part thereof including the said unit is completely or partly acquired
or is affected by any acquisition proceedings by the Government
or any other Statutory Authority under any Law for the time being
in force relating to the acquisition of properties or otherwise then
and in such event the balance of the amount due and payable upon
such acquisition, shall after adjusting the then arrears and dues,
if any payable by the Buyer on such date as per terms of this
Agreement be paid to the Buyer and other Buyers in the proportion
of their respective payments on account of price herein or in such
manner as may be solely decided by the Sellers :
(b) Notwithstanding the said building or the said unit is requisitioned
or is affected by requisition proceeding before delivery of posses-
sion thereof to the Buyer or other Buyers the terms hereof shall
remain unaffected and this Agreement shall be effective and the
Buyer shall be responsible to pay all dues and observe and perform
the terms as hereinmentioned and the Buyer shall be entitled to
the rent, compensation and all other benefits, receivable in respect
of such requisition provided however until payment of all dues as
hereinmentioned by the Buyer to the Sellers the Buyer shall not
be entitled to receive any rent, compensation and other benefits,
if any, from such requisitioning authorities except through the
Sellers.  It is understood that all formalities regarding completion
of sale of unit to the Buyer subject to and in terms hereof shall be
made in favour of the Buyer and Buyer shall be bound to complete
the purchase thereof subject to such requisition.
31. The Buyer shall pay to the said Advocates the fees as may be settled
by the Sellers.
32. The expression ?The Buyer?  wherever appearing in these presents
and if the context so requires shall be read as the ?the Buyer?. In case ?the
Buyer?  is an individual the expression ?the Buyer? shall mean and include
his/her heirs, successors, executors, legal representatives and permitted
assigns. In case `the Buyer? is a limited Company the expression ?Buyer?
shall mean and include such Company and its successor or successors
in interest and permitted assigns. In case ?the Buyer?  is a partnership firm
then the expression  ?the Buyer? shall mean and include Partners for the time
being of partnership firm and their respective heirs, executors, successors,
administrators, legal representatives and permitted assigns.  In case  ?the
Buyer?  is a Trustee or Trustees then the expression ?the Buyer? shall mean
and include the Trustee or Trustees for the time being of the Buyer Trust
and his or their respective successors or successors in office and permitted
assigns. In case ?the Buyer?  is Karta representing Hindu undivided familyCh. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 137
the expression  ?the Buyer? shall mean and include him as well as the
members for the time being of such Hindu undivided family and their
respective heirs, successors, administrators, executors and permitted
assigns.
33. All disputes and differences which shall at any time hereinafter arise
between the parties hereto in respect of the construction of the terms of
the Agreement or concerning anything hereincontained or arising out of this
Agreement or as to the rights liabilities or duties of the parties hereto
whether during the subsistence or after termination of this Agreement the
same shall be referred to the sole arbitration of……………………………….. of
No………….. as per provisions contained in Arbitration Act, 1940 and all such
arbitration proceedings shall be carried on at….. and award thereof shall
be final and binding upon parties hereto.
34. Courts of…………………….. shall have jurisdiction over all  matters of
disputes arising out of or relating to this Agreement.
THE FIRST SCHEDULE ABOVE REFERRED TO :
ALL  THAT piece or parcel of  Mokorari Mourasi Bastu land measur-
ing…………… Cottahs…………..Chittacks and………….Sq. ft. be the same a
little more or less together with all rights of easements and appurtenances
attached thereto comprised in and being a part of holding No……………….
previously…………….. in P .S…………… District……………. and butted and
bounded as follows :
On the North by portion of land in holding Nos………………………..
On the East by premises No……………….
On the South by the property described in the Second Schedule
hereunder written.
On the West by……………………… Premises No…………….
THE SECOND SCHEDULE ABOVE REFERRED TO :
ALL  THAT piece or parcel of Mokorari Mourasi Bastu  land measur-
ing………….. Cottahs…………… Chittacks and …………Sq.ft. be the same a
little more or less with pucca privy, drain etc.  thereon together with all rights
of easements and appurtenances attached thereto comprised in and being
a part of holding No……………………. previously………………….. in P.S.
………………….. District. …………… and butted and bounded as follows :
On the North by the property described in the  First Schedule above
written.
On the East by Premises No……………………..
On the South by Premises No……………..
On the West by Public Road.138 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
THE THIRD SCHEDULE ABOVE REFERRED TO :
ALL  THAT piece or parcel of Mokorari Mourasi Bastu land measur-
ing…………. Cottahs together with structures thereon and being a part of
holding No………… (previously……………………….) new numbered as…………….
In P .S…………….. District…………… and butted and bounded as follows :
On the North by portion of land in holding Nos…………………
On the East by Premises No………………
On the South by the property described in the Fourth Schedule
hereunder written.
On the West by Public Road.
THE FOURTH SCHEDULE ABOVE REFERRED TO :
ALL  THAT piece or parcel of  Mokorari Mourasi Bastu land measur-
ing………… Cottahs more or less together with structures thereon and being
part of Holding No…………… (previously……………..) and now numbered as
No…………… P .S.  …… District………… and butted and bounded as follows :
On the North by the property described in the Third Schedule above
written.
On the East by Premises No……………….
On the South by Premises No………….
On the West by Public Road.
THE FIFTH SCHEDULE ABOVE REFERRED TO :
(COMMON PARTS AND COMMON PORTIONS IF THEREIN)
(1) Staircase  on all the floors.
(2) Staircase landings and lift landings on all floors.
(3) Lift Well.
(4) Lift Plant installation.
(5) Lift Room.
(6) Common passage and lobby on the ground floor excepting car
parking area, if any.
(7) Tube well.
(8) Waterpump, water tank and supply pipes.
(9) Drainage and Sewers.
(10) Pump House.
(11) Fire fighting, Fire-protection equipments, if provided.
(12) Such other equipments, installations,
fixtures, fittings and spaces in or within the said building comprised within
the said premises as are specified by the Sellers expressly to be the
Common Parts and Common Portions for the said building but excludingCh. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 139
the terrace, parapet walls and the car parking spaces open or covered and
all other covered and/or open area, which excluded properties shall remain
the exclusive properties of the Sellers with sole and absolute right to sell
transfer, let out or dispose off the same.
THE SIXTH SCHEDULE ABOVE REFERRED TO :
(COMMON EXPENSES)
(1) All costs of maintenance, operating, replacing, white washing,
painting, rebuilding, reconstructing, decorating, redecorating and
lighting the common parts and common portions and also the outer
walls of the building and parking spaces and also for security of
the said building.
(2) The salaries of all persons employed for the same purpose.
(3) All charges and deposits for supplies of common utilities.
(4) Municipal  Taxes and other outgoings save those separately
assessed or charged or claimed for or on the respective unit.
(5) Costs and charges of establishment for maintenance of the
building and for watch and ward staff.
(6) All litigation expenses appertaining to the maintenance and
protection of the said building and disputes regarding claims and/
or demands from the Corporation/Municipality and/or other Local
Authorities.
(7) The office expenses incurred for maintaining the office for common
purposes.
(8) All other expenses and outgoings as are deemed  by the sellers
to be necessary or incidental for and regulating interest and/or the
rights of the Buyers and occupiers including Sellers.
(9) All expenses referred to above shall be borne by the Buyers from
date of notice as to completion of unit and for taking possession
of units but the Sellers shall not under any circumstances be liable
to bear any such charges in respect of unsold units.
IN WITNESS WHEREOF the parties hereto have executed this Agreement
the day, month and year first above written.
SIGNED AND DELIVERED BY THE SELLERS AT
in the presence of :
1.
2.
SIGNED AND DELIVERED BY THE  BUYER AT
in the presence of :
1.
2.140 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
15 15 15 15 15
Agreement for Sale of Ownership Apartment to comply Agreement for Sale of Ownership Apartment to comply Agreement for Sale of Ownership Apartment to comply Agreement for Sale of Ownership Apartment to comply Agreement for Sale of Ownership Apartment to comply
with the provisions of the West Bengal Apartment with the provisions of the West Bengal Apartment with the provisions of the West Bengal Apartment with the provisions of the West Bengal Apartment with the provisions of the West Bengal Apartment
Ownership Act, 1972 Ownership Act, 1972 Ownership Act, 1972 Ownership Act, 1972 Ownership Act, 1972
THIS AGREEMENT made this………………….. day of…………….. Two thou-
sand ………..BETWEEN MODERN ESTATE CORPORATION a registered Partner-
ship Firm, having its Registered Office at………. hereinafter referred to as
?THE PROMOTERS? (which term where the context so admits shall include
the partners for the time being of the said firm and their respective heirs,
legal representatives and assigns) of the ONE PART AND…. son of………. of
Messrs ………of  No……….hereinafter referred to as  ?THE PURCHASER?
(which term where the context so admits shall include his heirs, legal
representatives and assigns) of the OTHER PART :
WHEREAS under the Deed of Conveyance dated… executed by Ven-
dors……. of……………………………. address……………………………… therein and
hereinafter referred to as  ?the  VENDORS? the said Institute sold to the
Promoters, ALL THAT the Northern portion of Freehold Land comprised in
No…. having an area of…….  Cottahs…………… Chittaks and…………Sq. Ft.
(fully described in the First Schedule hereto and hereinafter referred to as
?the said Plot of Land?) at or for the consideration and on the terms and
conditions in the said Deed of Conveyance;
AND WHEREAS the Promoters are constructing a multistoried building on
the said plot of land comprising of apartments, parking spaces, show-rooms
and office under the supervision of well-known architects duly sanctioned
by the…………………….. Municipal Corporation.
AND WHEREAS all specifications as to materials to be used lifts to be
fitted, electric and water supply services and other amenities intended to
be provided to the building so to be constructed are set out in the Second
Schedule hereto.
AND WHEREAS the Promoters desirous of submitting the said plot of land
with the multistoried building to be so constructed (hereinafter referred to
as ?the said Premises?) to the provisions of the West Bengal Apartment
Ownership Act, 1972 (hereinafter referred to as  ?the said Act?) and to
execute and register a declaration as therein provided.
AND WHEREAS the Promoters intend to sell the Apartments in the said
premises mainly for residential purpose as required under the Provisions
of the said Act and also the parking spaces and the show-rooms and Offices
therein.
AND WHEREAS the Purchaser has inspected a true copy of the said Deed
of Conveyance and the plan of the plot of land and Title thereto acquired
by the Promoters and has fully satisfied himself about the common areasCh. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 141
and facilities and of the rights and obligations attached to the apartments,
parking-spaces, show-rooms and Offices.
AND WHEREAS the Purchaser has approached the Promoters for sale
of the Three Bed Room Apartment in the said premises calculated and
deemed to contain an area of……………………..sq. ft. on the………………….
floor inclusive of the apportioned area covered by the stair-case, lobby, lift-
well and servant?s room and lavatory fully described in the Third Schedule
hereto AND TOGETHER WITH………………… per cent undivided interest in the
common areas and facilities in the said premises as defined in the said Act
(hereinafter referred to as ?the said Apartment?) which the Promoters have
agreed to do at or for the consideration of Rs……….. (Rupees…………………..)
only subject to the terms and conditions hereincontains.
AND WHEREAS it has been agreed that a formal agreement should be
executed.
NOW THIS AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND
BETWEEN  THE PARTIES HERETO that the Promoters shall sell and the
Purchaser shall purchase free from all encumbrances the said Apartment
in the said premises described in the  Third Schedule.  hereto and…………..per
cent undivided interest in the common areas and facilities in the said
premises at or for the price of Rs………… (Rupees………………………..) only
subject to the provisions and the terms and conditions as hereincontained.
1.  The Area of land intended to be built upon is…………….. cottahs…………..
chittaks and………….  sq. ft. more or less and is described in the First
Schedule hereto.
2. The Promoters are constructing a building comprising of apartments,
offices, show-rooms, car-parking spaces in the basement and in the
ground-floor on the said plot of land covering  in the aggregate  an area
of about……………. (……………….) sq. ft. on each floor from the First to the
Eleventh floors (being approximately 50 (fifty) per cent of the total area of
the said plot of land) each of such floor comprising of (A)?One three bed
rooms apartment with a covered area of…………………… (………………….) sq.
ft. and ………………….(…………………) sq. ft. space out of…………………..
(………………….) sq. ft. covered space covered by the stair-case, lobby and
lift-well and servants lavatory and…sq. ft. space out of…………………………….
(…………………….) sq. ft. of space covered by one servant?s room and
varandah approachable from half landing in the stair-case aggregat-
ing……………………. (…………………..) sq. ft. more or less herein-after referred
to as ?A Three Rooms Apartment? (B)?One 2 (Two) bed room apartment
with a covered area of…………………. (………………….) square feet
and………………… (…………………..) square feet out of…………………. (……………..)
square feet of the space covered by the stair-case lobby and lift-well and
servant?s lavatory aggregating……………………. (………………..) square feet
more or less (hereinafter referred to as  ?A Two Room Apartment?) and show-142 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
rooms in the ground floor and Three Additional Tower Floors over and above
the Eleventh Floor being the Tower I, II and  III  floor each having only one
3 (Three) bed room Apartment and each with a covered area of…………………..
(……………) square feet and the area covered by stair-case, lobby and lift-
well and servant?s room and lavatory  approachable from the midlanding
in the stair-case (together with in the case of 12th Floor the open space)
and for the purpose of fixing percentage to the entire premises is calculated
and is deemed to comprise of an area of………………………. (…………….) sq.
ft. (herein referred to as the Tower I, II and III floor apartment).
3. The Promoter shall construct and allot parking space in the basement
and in the back space on the ground-floor for one car for each East
Apartment as far as possible in the said premises and shall offer one such
parking space to each of the Purchasers of Apartments as far as possible
for purchase at the rate of Rs……. (Rupees…………………..) only. The cost
of the parking space has not been included in the price quoted above.
4. The Purchasers of the apartments shall use the same mainly for
residential purposes but the promoters shall be entitled to sell or lease out
the ground-floor or a portion of the basement or any other portion of the
building for being used as Bank, Stores, Show-rooms, studios or as a
Commercial purpose.
5.  The Promoters shall submit a declaration before the Competent
Authority under the West Bengal Apartment (Regulation of Construction
and  Transfer) Act, 1972 in such form and in such manner as may be provided
that the said premises is being submitted to the provisions of the West
Bengal Apartment Ownership Act, 1972 so that the Purchasers of the
Apartments in the said premises may avail of facilities allowable to them
under the law including loans under ?Own your Apartment? scheme of the
Life Insurance Corporation of India, after the building construction is
completed.
6. The sale price in respect of purchase of Seventh-floor Three Bed
Room East Apartment shall be paid to the promoters in the manner
following (the respective time hereby fixed being of the essence of
Agreement) 😕
I. On or before the execution of this Agreement to which
has been duly paid 25%
II. On demand  at the time of mobilization of Piling Plant
at site 25%
III. On demand on laying floor slab for Seventh Floor 20%
IV. On demand on the commencement of the interior work
of the Apartment 20%
V. On Demand at the time of delivery of Apartment 10%
7.   Each Purchaser shall pay Rs……… (Rupees……………………..) onlyCh. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 143
to Messrs………………………. Solicitors and Advocates of No………………., as
their consolidated in-pocket remuneration in respect of preparation, execu-
tion and registration of the conveyance as hereinafter provided. Out of the
said amount a sum of Rs…………. (Rupees………………………..) only would
be payable on the execution of the Sale Agreement. Each Purchaser shall
in addition thereto bear and pay the stamp duty payable on the agreement
and sale deed as also the registration fees and other expenses in
connection with the registration of conveyance.
8. In the event of the Purchaser making default in making any payments
of instalments of purchase money within one month after a demand being
made in terms of Clause 6(II) to  6(V) hereof the purchaser shall be liable
to pay interest at the rate of……………………….. per cent per month for each
month or part  of month of default upto a maximum period of two months.
In the event of such Purchaser failing to make the payment within 90 (Ninety)
days from the date of  the demand this agreement will stand cancelled and
such Purchaser shall forfeit his right under this Agreement and the
Apartment may at any time thereafter be sold by the Promoters to any other
Purchaser or Purchasers at the option of promoters and the defaulting
Purchasers shall in addition to the accrued interest be liable to pay damages
at………… per cent of entire balance amount payable under Clause 6(II) and
6(V) hereof and the Promoters shall after deducting the amount of the
accrued interest and the said…………………  per cent of the balance amount
due from the Purchaser refund the amount paid by such defaulting
Purchaser.  In case the re-sale yields higher price than the price agreed to
by the defaulting Purchaser, such Purchaser shall not be entitled to the
same or any part thereof.
9. The Apartments on the Seventh floor should be ready for sale and
possession within 21 (twenty-one) months hereof, but in any case not later
than the month of December 20…..
10. In the event of the default on the part of the Promoters to carry out
the construction on any ground whatsoever the advance payment made by
the purchaser shall be refunded by the Promoters in full not later than 12
(twelve) months from the date hereof and the payment made by the
Purchaser shall form pari passu charges on the plot of land the structure
constructed thereon in favour of the Purchaser subject to charges if any
existing thereon in respect of money borrowed by the Promoters from any
Bank or Private Financiers for construction work but without prejudice to
or affecting the rights of the Purchasers of the Apartments, show-rooms,
Offices of which delivery has already been given after completion of
construction thereon.
11. After an apartment with servant quarter/show-rooms/Offices is
completed and is ready for possession the purchaser or purchasers thereof
shall be entitled at his or her or their costs to obtain from the Promoters144 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
Deed of Sale or Conveyance in respect thereof along with (……………….)
per cent of the rights to and interests in the common areas and facilities
and with all the benefits and advantages available to him and the obligations
imposed in him under the provisions of the said Act and also to obtain Sale
Deed from the Promoters in respect of the parking space if any allotted to
or taken by him against payment of Rs………… (Rupees……………………….)
only.
12. The Purchaser may use the common areas and facilities for the
purpose for which they are provided without hindering or encroaching upon
the lawful rights of other owners of apartments, show-rooms and parking
space and offices.
13. No purchaser of apartment/show-room/offices/parking space shall
do any work which may affect the safety of the building or may hinder or
obstruct the right or peaceful enjoyment by the owner of the other
apartments/office/show-rooms/parking space in the said premises.
14. The Purchaser of Apartments, Offices and Show-rooms shall jointly
amongst themselves be liable to meet all outstandings in respect of the said
premises including those for taxes, repairs and upkeep of the premises.  If
any maintenance salary and other charges or expenses and liabilities are
incurred the same would be apportioned amongst such purchasers in the
properties in which they are entitled to the common areas and facilities as
aforesaid, PROVIDED THAT if any apartments, offices, show-rooms, parking
spaces are delivered prior to the entire building being completed, the
maintenance charges shall be apportioned by, the promoters among the
Owners or Occupiers of the Apartments, Offices and Show-rooms delivered
prior to the building being completed.
15. The Purchasers of Apartments, Show-rooms, Offices and parking
spaces shall at all times keep the same in perfect state of repair and take
all precaution so that safety and security of the premises is not endangered
in any way.
16. The parking space shall not be used for any purpose other than for
parking for one motor car.
17. The Purchasers of Apartments/Show-rooms/Offices/Parking spaces
shall not do any act whereby the insurance may become voidable or the
premium payable increased.
18. Unless otherwise agreed amongst purchasers of the apartments
offices and show-rooms the exterior thereof shall not be altered or
decorated by any such Purchasers in a manner different from the manner
in which they have been done by the Promoters, Hoardings or Neon Signs
shall not be displayed on the exterior of the building.
19.  The Premises shall be named and shall always be known as
?…………… ?.Ch. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 145
20. An association of the Owners of the Apartments/Show-rooms/
Offices/Parking spaces comprised in the said premises shall be formed in
such manner as may be provided in the bye-laws to be framed by the State
Government under the said Act in this behalf.  Such Association of Owner
or Apartments, Show-rooms, Offices shall exercise the powers which may
be vested in them in the manner provided by such bye-law and shall function
control, and administer the affairs of the said premises in such manner as
may be provided  in such bye-laws.  PROVIDED THAT during the construction
of the building until the work is completed, the maintenance of the premises
shall be carried on by the Promoters for the interim period.
21. The Association of Owners of Apartments/Show-rooms/Offices, the
Board of Management thereof shall be entitled to delegate the day to day
function of the Association and also such other power as may be required
to be exercised by the Association of Board for the benefits of the owners
of the apartments/offices/show-rooms to such person or persons on such
terms and honorarium as may be deemed fit.
THE FIRST SCHEDULE ABOVE REFERRED TO :
ALL AND SINGULAR ALL THAT piece of revenue redeemed land containing
an area of…………… cottahs…………….. chittacks and …………sq. ft. more or
less situate lying at and being the Northern portion of No…………………… in
the town of…………………..  being part of Holding No…………… Block
No…………… in the………………… Division of the said town and butted and
bounded as follows 😕
ON THE NORTH : by a passage or road way belonging to.
ON THE SOUTH : by remaining portion of the Premises No.
ON THE EAST : by No……………………. street AND
ON THE WEST : by………………………………… the premises of
THE SECOND SCHEDULE ABOVE REFERRED TO :
[Specification and Amenities]
1. FOUNDATION : Concrete piling.
2. STRUCTURES : R.C.  Columns, Beams and Slabs cast in
setu or P .S.P .C.R.C Slabs and R.C.
Beams and Columns.
3. WALLS : R.W.or Hollow Block Orissa Cincer walls
in cement sand mortar, cement plaster,
internal lime punning and Colour Pig-
ment finish with External Snowcem fin-
ish.
4. WINDOWS : C.P.  Teak Panels, Assam Sal Frame, 1/8″
plate glass, Brass hinges and Aluminium
fittings.
G : CDD (Vol. 5) ? 10146 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
5. DOORS : 1-1/8″ flush doors with Teak Commercial
Panels, brass hinges and Aluminium
fittings, Automatic handles and Locks.
6. FLOORING : Mosaic titles and Mosaic skirting cast in
situ.
7. TOILET FITTINGS : Commode, Basin, Cistern and Shower
of best Indian Toilet fittings.
8. BUILT IN FURNITURE : Kitchen shall be provided with porcelean/
mosaic wash sink. Four feet mosaic fin-
ish in setu with mosaic flooring, built in
Cup-Board with C.P.Teaks Panels.
9. ELECTRIC POINTS
AND WIRINGS : Concealed electric wiring, 2 Electric
points for 2 Bed room apartments and 3
Electric Points for 3 bed room apart-
ments, wiring arrangement for power
points for refrigerators, iron, stove and
toaster in the Kitchen and Dinning Hall.
10. STAND BY GENERATOR : A stand by Generator for emergency
power supply to lifts, water pump, stair-
case and one light point in every apart-
ment shall be provided.
11. WATER SUPPLY : Underground Reservoir for Corporation
water and centrifugal pumping set for
one 4″ tubewell with immersion jet pump
sets, Six Nos.  800 Gallons capacity over-
head tanks for  constant water supply for
drinking and sanitary use.
12. LIFTS : Two Nos.  Otis or equivalent types Auto-
matic Duel Control Four Passengers ex-
press lifts shall be provided.
THE THIRD SCHEDULE ABOVE REFERRED TO :
ALL  THAT  three-bed roomed apartment on the Seventh floor of the
proposed building with a covered area of 1,440 Square feet and 150 Square
feet space out of 250 square feet of the space covered by the stair-case,
lobby, lift-well and servants lavatory and 60 square fit space covered by the
servants room and varandah approachable from the stair-case of the same
floor aggregating 1,650 square feet more or less called a Three Room
apartment as shown in the floor plan or the typical residential floors of the
proposed building annexed and bordered red.Ch. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 147
IN WITNESS WHEREOF  the parties hereto have hereunto set and sub-
scribed their respective hands and seals on the day, month and year first
above written.
SIGNED, SEALED AND DELIVERED
by the said parties at
in the presence of :
WITNESSES :
1.
2.
16 16 16 16 16
Amendment to an Earlier Agreement for Sale of Ownership Amendment to an Earlier Agreement for Sale of Ownership Amendment to an Earlier Agreement for Sale of Ownership Amendment to an Earlier Agreement for Sale of Ownership Amendment to an Earlier Agreement for Sale of Ownership
Apartment to give effect to Price escalation to the Apartment to give effect to Price escalation to the Apartment to give effect to Price escalation to the Apartment to give effect to Price escalation to the Apartment to give effect to Price escalation to the
Cost of Flat Cost of Flat Cost of Flat Cost of Flat Cost of Flat
AN AGREEMENT made this………………… day of…………………..Two Thou-
sand ………………BETWEEN MESSERS………………a registered Partnership
Firm having its Registered Office at…….., hereinafter referred to as  ?THE
PROMOTERS? (which term  where the context so admits shall include the
Partners for the time being of the said firm and their respective heirs, legal
representatives and assigns) of  ONE PART AND………………… son of
late……………. of……………….. hereinafter referred to as ?THE PURCHASER?
(which term where the context so admits shall include his heirs legal
representatives and assigns) of the OTHER PART :
WHEREAS under the Memorandum of Agreement dated…………. (here-
inafter referred to as the ?said Agreement?) the Promoters agreed to sell
to the Purchaser the……………… floor East Apartment in the building
proposed to be constructed on the land comprised in………………….., which
Apartment is described in the  Third Schedule thereto together with
the………………….. undivided interest in the common areas and facilities in
the said premises as mentioned therein at or for the price of Rs…………
subject to the terms and conditions therein contained :
AND WHEREAS  the said terms and conditions  inter alia provides the
manner in which payment of the said consideration of Rs……………. is to be
made ;
AND WHEREAS pursuant to the said agreement the Purchaser paid to the
Promoters the sum of Rs…………… being 25% of Consideration money as
the first of the instalments payable under the said Agreements ;
AND WHEREAS since the date of the  said agreement the parties hereto
having considered the sudden rise in the costs of building materials and148 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
wages of labourers have agreed that the consideration for sale of the said
apartment together with the benefits as provided in the said agreement
should be increased by Rs………….. that is to  say, the consideration would
be Rs…………  instead of Rs………….. AND WHEREAS it has also been agreed
that the provisions with regard to the payment of the said consideration
money as contained in the said agreement would be changed in the manner
hereinafter provided ;
IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO as follows:
1. That the consideration or purchase price for purchase of the……………
floor Apartment of the proposed building at No…………., (which apartment
is fully described in the  Third Schedule to the said agreement) and
…………..% undivided interest in the common areas and facilities in the said
premises as provided in the said agreement shall be Rs……………. (Ru-
pees…………………..) instead of Rs………. (Rupees…………………..) and the
figures Rs…………….. should be substituted for Rs…………….. wherever the
same may be appearing in the said Memorandum of Agreement.
2. That Clause 6 of the operative clause of the said Memorandum of
Agreement dated the……………….., shall be omitted and the undermentioned
clause shall be substituted therefor.
?6……… The sale price of Rs………………… payable in respect of purchase
of the seventh floor Three-Bed-Room East Apartment shall be paid to the
Promoters in the manner following : (the respective time for payment hereby
fixed being the essence of the agreement) ;
I. On or before the execution of the Memorandum
of Agreement dated……………..
Rs…………………..
(This amount was duly paid on the execution of
the said agreement dated………)
II. On the execution of this Agreement Rs…………………
III. On demand at the time of Mobilization of piling
plant at the site. Rs…………………
IV. On demand made after laying of the floor slab
for the seventh floor. Rs…………………
V. On demand made on the commencement of the
interior work of the Apartment. Rs…………………
VI. On demand at the time of delivery of the apart-
ment. Rs…………………
Total Rs…………………
3. Save as aforesaid the agreement dated………….. and every provision
contained therein shall continue with full effect and be binding on the parties
hereto.Ch. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 149
IN WITNESS WHEREOF the Parties hereto have set and subscribed their
respective hands the day month and year first above written.
SIGNED AND DELIVERED
by the said Parties at
in the presence of :
1.
2.
17 17 17 17 17
Agreement with Developer for Sale of Flats by the Agreement with Developer for Sale of Flats by the Agreement with Developer for Sale of Flats by the Agreement with Developer for Sale of Flats by the Agreement with Developer for Sale of Flats by the
Lessee on Developer?s Land?Lessee to deal Lessee on Developer?s Land?Lessee to deal Lessee on Developer?s Land?Lessee to deal Lessee on Developer?s Land?Lessee to deal Lessee on Developer?s Land?Lessee to deal
with the property until all the Flats are with the property until all the Flats are with the property until all the Flats are with the property until all the Flats are with the property until all the Flats are
sold subject to the Developer?s sold subject to the Developer?s sold subject to the Developer?s sold subject to the Developer?s sold subject to the Developer?s
right as lessor right as lessor right as lessor right as lessor right as lessor
[Short form]
THIS AGREEMENT is made the…………………. day of…………..20….. Be-
tween AB Ltd., the registered office of which is at etc. (hereinafter called
?the lessee?) of the One Part and CD Ltd., the registered office of which
is at etc. aforesaid (hereinafter called the ?the lessor?) of the Other Part.
Supplemental to a lease of even date herewith made Between the same
parties as are parties hereto  but in the reverse order whereby the lessor
demised unto the Lessee the Property therein described  (hereinafter called
?The Property?) for the term at the rent and subject to the covenants and
conditions therein contained.
IT IS HEREBY AGREED as follows :
1. The Lessee shall with all the due dispatch sell the flats forming part
of the property at the best price which it can obtain upon the terms and
conditions of sale contained or referred to in the form of agreement for sale
annexed hereto and shall upon the completion of the sale of each flat enter
into a lease thereof to the purchaser in the form annexed hereto and account
to the lessor for the Purchase price and thereafter shall  perform and
observe the covenants on its part and the conditions contained in such
lease and enforce and performance and observance by the Purchaser of
the covenants on his part and the conditions therein contained.
2. The Lessee shall deal with the property until the sale of the said flats
and (subject to the rights of Purchasers) with the parts of the property for
the time being unsold in such manner in every respect as the lessor directs
or appoints.
IN WITNESSES, etc.150 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
18 18 18 18 18
Agreement between Owner, Developer and Purchaser for Agreement between Owner, Developer and Purchaser for Agreement between Owner, Developer and Purchaser for Agreement between Owner, Developer and Purchaser for Agreement between Owner, Developer and Purchaser for
construction and Sale of Four-storied Building?Owner construction and Sale of Four-storied Building?Owner construction and Sale of Four-storied Building?Owner construction and Sale of Four-storied Building?Owner construction and Sale of Four-storied Building?Owner
to convey land and Developer to convey the to convey land and Developer to convey the to convey land and Developer to convey the to convey land and Developer to convey the to convey land and Developer to convey the
superstructure to a single Purchaser superstructure to a single Purchaser superstructure to a single Purchaser superstructure to a single Purchaser superstructure to a single Purchaser
THIS AGREEMENT FOR SALE made at………. this day of……………….Two
Thousand and……………..  BETWEEN…………… wife of……………… residing
at…………………………………………………….wife of…………………. residing
at……………….. and………………… wife of…………………. residing at……….. all
carrying on business in co-partnership under the name and style of…………
having its office at………. (hereinafter called  ?the First  Vendors? which
expression shall unless excluded by or repugnant to the context be deemed
to include their respective heirs, executors, administrators, legal represen-
tatives and partner or partners for the time being of the said firm
?…………………. ?) of the First Part,……………………. son of………………………………
residing at …………….. and ………………………….. son of……………………….
residing at………….. all carrying on business in co-partnership under the
name and style of ?………………. ? having its office at No……….(hereinafter
called the ?the Second  Vendors? which expression shall unless excluded
by or repugnant to the context be deemed to include their respective heirs,
executors, administrators, legal representatives and partner or partners for
the time being of the said firm  ?……………… ?) of the Second Part  AND……………….
a body corporate constituted under the Banking Companies (Acquisition
and  Transfer of Undertakings) Act, 1970 and having its Head Office
at……………… and having its Circle Office at No…………. (hereinafter called
?the Purchaser? which expression shall unless excluded by or repugnant
to the context be deemed to include the successors and assigns) of the
Third Part.
WHEREAS by a Deed of Conveyance dated the……………….. and made
between…………, Vendor therein, of the One Part and………….Purchaser
therein, the First Vendors herein, of the other part and registered at the Sub-
Registry Office…….. being Deed No………….., the First Vendors purchased
a  plot of land measuring…………………. cottahs……….. chittacks and…….sq.
ft. comprised in Premises No……………….(hereinafter referred to as  ?the said
land?) fully described in the First Schedule hereunder written at or for the
consideration therein mentioned.
AND WHEREAS by an Agreement for Development dated the………………
and made between the First Vendors of the One Part and the Second
Vendors of the Other Part, it was agreed by and between the First Vendors
and the Second Vendors that the Second Vendors should develop the said
land by constructing thereon Four-Storied Building and sell the same to any
purchaser at or for the consideration therein mentioned subject to the terms
and conditions therein contained.Ch. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 151
AND WHEREAS THE First Vendors and the Second Vendors have jointly
approached the Purchaser to sell and the Purchaser has agreed to
purchase from the First Vendors the said land and from the Second Vendors
Four Storied Building (fully described in the Second Schedule hereunder
written) including amenities, fixtures and fittings to be provided in such
building (shout particulars whereof are set out in the  Third Schedule
hereunder written) in accordance with the specifications approved by the
Purchaser (full particulars of such specifications approved by the Pur-
chaser has been described in the Fourth Schedule hereunder written) at
or for the total consideration of Rs……. …… (approximately) for a total built
up area of more or less …………Sq. ft. subject to the final measurement to
be arrived at the jointly by the parties hereto ; and final assessment of the
total cost of the building shall be made at the rate of Rs………. per sq. ft.
of the super built up area of the said building.
AND WHEREAS out of the said sum payable, the purchaser shall pay to
the First  Vendors a sum of Rs…………. (Rupees……………….) or……………….of
the total consideration, whichever is higher being the consideration of the
land and to the Second  Vendors sum of Rs…….. or………..of the total
consideration being the consideration of the building together with all other
amenities, fixtures and fittings as described in the Second, Third and Fourth
Schedules hereunder, subject to the terms and conditions hereinafter
appearing.
AND WHEREAS the Purchasers approved the construction of the building
which is nearing completion on the said land and all amenities, fixtures and
fittings and facilities to be provided and installed in such building as
prepared by the Second Vendors and agreed by the Purchasers.
AND WHEREAS to record the terms and conditions  agreed by and
between the parties hereto, the Parties hereto have agreed to enter into
an agreement (being these presents) in the manner hereinafter appearing.
NOW THIS AGREEMENT WITNESSETH as follows :
1. That the First Vendors and the Second Vendors have jointly agreed
to sell and the Purchaser has agreed to purchase from the First Vendor the
said land (fully described in the First Schedule hereunder written) and from
the Second Vendors the Four-Storied Building constructed on the said land
(fully described in the Second Schedule hereunder written) including all
amenities, fixtures and fittings to be provided and installed in such building
(short particulars whereof are set out  in the Third Schedule hereunder
written) as per specifications approved by the Purchaser (described in the
Fourth Schedule hereunder written) at or for the total consideration of
Rs…………… (Rupees…………………..) (out of which the Purchaser will pay
to the First Vendors a sum of Rs……….. (Rupees……………………) and to the
Second Vendors a sum of Rs………… (Rupees………………….). This amount
will be finally decided after the joint measurement of total super built up area152 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
by the  Vendors and the representative of the Bank Rs…………. (Ru-
pees………………….. ) per sq.ft.
2. Simultaneously with the execution of these presents the Purchaser
has paid to the First Vendors and the Second Vendors (hereinafter jointly
referred to as  ?the Vendors?) a sum of Rs………… (Rupees……………………….)
as and by way of earnest money and in part payment of the consideration
money and which the Vendors hereby admit and acknowledge.
3. The Purchaser and the Vendors shall hold a joint survey from time
to time. The first of such survey being within a fortnight from the execution
of these presents and thereafter at least once in fifteen days, in order to
ascertain the position of construction in terms of progress and/or comple-
tion thereof ;  and after ascertaining the same and mutually agreeing thereto
the Purchaser shall make payment to the Vendors jointly, subject to the
terms stated in paragraph No.  1 hereof : in the manner as stated in Schedule
V.
Further, the amount paid as earnest money/advance shall be fully
adjusted by the Purchaser out of the 1st instalment of Purchase consid-
eration payable to the Vendors.
4. Five per cent of the total consideration value shall be held and retained
by the Purchaser for one year from the date of execution of the Deed of
Conveyance by way of security against Purchaser?s satisfaction of the
construction of the said property and the said amount of security shall be
paid back by the Purchaser to the Vendors after one year from the date of
execution of the Conveyance Deed by the Vendors on satisfaction by the
Purchaser thereof as stated, supra.
The Vendors hereby agree and undertake to rectify all the defects as
may be found or detected during the period of 1 year, within a period of 15
days from the date the same is notified by the Purchaser, at the Vendor?s
own cost. If the Vendors fail to rectify the defects as pointed out by the
Purchaser within 15 days from the date of reporting to the Vendors, the
Purchaser shall be entitled to have such defects cured by such other
agencies as it may deem fit at the entire cost and risk of the Vendors and
utilise the retention money or such other sum as may be found payable to
the vendors pursuant to this Agreement and pay the balance, if any, on the
expiry of 2 months after the liability period of 1 year mentioned above.
Provided further that in the event of the said rentention money being
inadequate to meet such costs and charges and expenses incurred by the
purchaser for curing the defects in the construction, the vendors shall, within
7 days of demand in writing made by the purchase make good the deficit,
filing which the Vendors shall be liable to pay the same together with interest
at 18% per annum.
5. That the Purchaser has satisfied itself about prima facie title to the
said land belonging to the First Vendors and has examined sanctioned planCh. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 153
of…………………Municipal Corporation obtained by the Second Vendors and
the Purchaser reserves its right to further verify the title to the said land
belonging to the First Vendors and also whether the said property is free
from all encumbrances, charges, liens, trusts,  lis pendens and/or any
execution or attachment proceeding and/or prohibitory orders and/or any
acquisition or requisition proceeding or scheme of any authority.
6. The Vendors hereby agree and undertake that they shall complete
construction of the building on or before the…………………… or within such
extended period as may be mutually agreed upon by and between the
Vendors and the Purchaser, and shall also obtain the completion certificate
from the……………………… Municipal Corporation for the purpose of provid-
ing the purchaser with the same.
7.  That if according to the opinion of the Purchaser?s lawyer, the said
property is found subject to any encumbrances, charges, liens, trusts, lis
pendens, attachments and/or execution proceedings and/or prohibitory
order and/or any acquisition or requisition proceedings or scheme of any
authority, the Purchaser shall  be at liberty to rescind this contract and on
such rescission the Vendors shall immediately refund to the Purchaser
earnest money so paid by the Purchaser to the  Vendors under this
Agreement together with interest at the rate of 18% per cent per annum
and all costs and expenses incurred by the Purchaser for investigation of
title to the said property.
8. If the Vendors fail or neglect to complete the sale after the title being
made out as aforesaid or otherwise to carry out any one or more of the
obligations on their part hereinbefore contained or otherwise required
under the law, the Purchaser will be at liberty to enforce specific perfor-
mance of this  contract or at its option may sue the Vendors for recovery
of the earnest money with interest and costs.
9. If owing to no-default on the part of the Vendors, the Purchaser fails
or neglects to complete the purchase of the said property, the Vendors shall
be entitled to specific performance of this contract.
10. That upon the building being constructed amenities, fixtures and
fittings being installed and provided in such Building/Premises by the
Second Vendors to the satisfaction of the Purchaser and upon possession
Certificate of………… Municipal Coroporation and Income being produced
by the Vendors to the Purchaser and upon  payment of the balance of the
consideration money by the Purchaser to the Vendors in accordance with
their shares, the Vendors shall execute and register Deed of Conveyance
in favour of the Purchaser.
11.  The Vendor shall deliver to the Purchaser vacant and peaceful
possession of the said property on completion of the work as per
specifications and on obtaining possession certificate of……………………..154 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
Municipal Corporation  all the original documents of title relating to the said
property shall be handed over to the Purchaser as in possession  of the
Vendors.
12. It is made clear that to fulfil the terms, conditions covenants and
provisions wherein contained, the duties, responsibilities and obligations
of the Vendors to the Purchaser are joint and several.
13. That the Vendors shall pay all Municipal Rates and Taxes in respect
of the said property upto the date of handing over possession and the
Purchaser shall pay such Municipal rates and taxes from the date of
possession.
14. That the Second Vendors hereby agree and undertake that they shall
pay all bills of the contractors and other suppliers in respect of Construction
of the said building and/or supply of building materials amenities, fixtures
and fittings so that no contractor and supplier as aforesaid shall have any
right claim or demand in respect of the said property as against the
Purchaser.
15.  The Vendors hereby confirm and declare that all the terms, conditions
and covenants  herein contained shall override and supersede all the terms,
conditions and covenants as contained in the Agreement for the Develop-
ments dated………….. made between the First Vendors of the One Part and
the Second  Vendors of the Other Part and the terms, conditions and
covenants of the said Development Agreement will be subject to and
subservient to the terms and conditions herein contained to the extent those
are repugnant or inconsistent with the provisions hereincontained.
THE FIRST SCHEDULE ABOVE REFERRED TO
(Description of the land)
All that Land containing an area of……….Cottah………… Chattacks………..
Sq. ft.
Premises No………………………
On the North by : No……………..
On the East by : No……………..
On the South by : No……………..
On the West by : No………………
THE SECOND SCHEDULE ABOVE REFERRED TO :
(Details of the building nearing completion)
SPECIFICATION APPROVED BY THE PURCHASER
1. Foundation : RCC raft of columns.
2. Super structure : RCC + Brick work.Ch. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 155
3. Windows : Z Section standard steel windows with glass
panes.
4. Doors : Main door of teak panel wood and internal
doors of flush type (solid core) with mortice
lock on main door and other doors with
aldrop locks.
5. Fittings : Anodised aluminium fittings.
6. Flooring & Skirting : Terrazo cast in situ. In bathrooms & toilets,
white glazed tiles upto a height of 6  ft.  on
all walls, partly white tiles to kitchen over
RCC Kitchen shelf with cast in situ mosaic
finish. Staircase and landing of cast in situ
mosaic flooring.
7. Walls and ceiling : Plaster of Paris surfacing on cement plaster.
Plastic emulsion painting of 2 coats over a
coat of primer.
Doors and windows to be painted with
synthetic enamel paint (2 coats) over a coat
of primer.
8. RCC cooking platform : Cuddapah Black slab on cooking platform
and dado upto 1? 6″ ht.  from platform level.
9. Sink  & drawing board : Vitreous china sink and drawing board.
10. Electrical points (i) 2 No.  light points and 1 No.  fan point in each
room and 1 No.  5  Amp.  socket point with
switch board except drawing/dining of
?Manager?s flat?.
(ii) Drawing/dining room of Manager?s flats shall
have 4 No.  light point and 2 No.  fan points
with 2 No. 5 Amp. socket points.
(iii) Kitchen shall have 1 light point, 1 No. 5 Amp.
socket point.
(iv) Toilet shall have I No.  light point and one
Geyser point in one of the toilets of each flat.
(v) Manager?s flat shall have 1 No.  exhaust  fan
point in one of the toilets, in addition to light
points.
(vi) Staircase shall have one no. light point in
each landing area.
(vii) 1 No.  call bell point in each flat.156 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
11. Separate sub-meters to be provided in each flat and a separate sub-
meter for staircase, pump, common areas/installation.
12. Deep tubewell with booster (pump & motor) to be provided to augment
corporation water supply.
THE THIRD SCHEDULE ABOVE REFERRED TO :
(Short particulars of the amenities and fixtures and fittings to be installed
and/or situated in the said property to be set out here)
Underground & Overhead tank with 24 hours water supply. A water pump
with motor to be provided to augment Corporation  Water supply of
Corporation.
THE FOURTH SCHEDULE ABOVE REFERRED TO
(Specification to the building to be set out here)
1. Four-storied Building with car parking space on ground floor.
2. No.  of flats.
a. Ground Floor : One
b. First Floor : Two
c. Second Floor : Two
d. Third Floor : One with open terrace
SCHEDULE NO. 5
(Mode of Payment)
% of Purchase consideration
1. Completion of foundation and plinth 10
2. Completion of RCC Slab 20
3. Brick work and wood work (frame) 10
4.    a. Fabrication of doors, windows, shutters
and grills 6
b. on completion of door & window grills
hardwares and all other wood work 5
5. Internal plaster 2.5
6. External plaster 2.5
7. Internal plumbing 8
8. External plumbing 3
9. Internal electrification 5
10. External electrification 2.5Ch. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 157
% of Purchase consideration
11. Flooring 5
12. Painting and finishing 2
13. Water proofing 1.5
14. Water storage tank, under ground, overhead,
pump house, antitermite, clearing of site etc., 2.5
15. Roads, pathways, plinth protection, compound
wall, gate, chowky 4.5
16. On receipt of completion/occupation certificate 5.0
17. On execution of Conveyance Deed 5.0
100.0
IN WITNESS whereof the parties hereto have executed these presents
on the day month and year first above written.
SIGNED and DELIVERED by the
abovenamed First Vendors.
at………………in the presence of :
SIGNED and DELIVERED by the
abovenamed Second Vendors,
at……….in the presence of :
SIGNED for and on behalf of PURCHASER
by its duly Constituted Attorney
under the power of Attorney
dated in the presence of :
MEMO OF CONSIDERATION
RECEIVED from the within named Purchaser
the within mentioned earnest money of
Rs…………… (Rupees…………………….)
by Pay Order No………………..
on…………………………….Bank
……………………………..branch
WITNESSES  :
1.
2.158 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
19 19 19 19 19
Agreement between Investment Company and Development Agreement between Investment Company and Development Agreement between Investment Company and Development Agreement between Investment Company and Development Agreement between Investment Company and Development
Company for construction of Block of Flats by Development Company for construction of Block of Flats by Development Company for construction of Block of Flats by Development Company for construction of Block of Flats by Development Company for construction of Block of Flats by Development
Company on the Land of Investment Company?Conditional Company on the Land of Investment Company?Conditional Company on the Land of Investment Company?Conditional Company on the Land of Investment Company?Conditional Company on the Land of Investment Company?Conditional
on Grant of Lease by the Development Company on on Grant of Lease by the Development Company on on Grant of Lease by the Development Company on on Grant of Lease by the Development Company on on Grant of Lease by the Development Company on
completion of the construction of the Flats completion of the construction of the Flats completion of the construction of the Flats completion of the construction of the Flats completion of the construction of the Flats
by the Development Company by the Development Company by the Development Company by the Development Company by the Development Company
AN AGREEMENT made the……………….day of………. 20…….BETWEEN AB
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 absolute title of the property known as  [brief description] and shown
on the plan annexed hereto and thereon coloured red (hereinafter called
?the Property?).
(2) The parties hereto have 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 that on completion of such
works the Investment Company shall grant to the Development Company
a lease of the Property for the term of ninety-nine years from the…………
day of…………………… 20….. on the terms and in manner hereinafter
appearing.
NOW IT IS HEREBY AGREED by and between the parties hereto as follows:
1. There are annexed hereto copies of the plans and detailed Scheme
for the redevelopment of the Property by the erection of a block of twenty-
four flats and sixteen garages and the laying out of the grounds and gardens
thereof (hereinafter called ?the Works?).
2.  The Development Company shall with all reasonable despatch
prepare detailed plans and specifications and shall submit the same for the
approval of the appropriate authority and such submission to be made
within two months of the date hereof. Within fourteen days of the receipt
of the approval of the building plan with such modifications as may be
necessary, the Development Company shall with all reasonable despatch
proceed to construct and complete the  Works in all respects to the
satisfaction of the Local Authority and the surveyors of the Investment
Company.
3. The Development Company shall insure the Works against the fire
lighting explosion riot and civil commotion and such other risks as theCh. 46]   DEVELOPER?S AGREEMENT AND SALE OF OWNERSHIP FLATS?FORMS 159
surveyors of the Investment Company shall from time to time reasonably
stipulate during the course of the construction of the Works in the full value
thereof in the joint names of the Investment Company and the Development
Company and whenever required produce to the Investment Company the
policy or policies for such insurance and the receipt for the last premium
or premiums due under the same.
4. The Development Company shall comply with the foregoing provi-
sions of this Agreement in all respects at their own expense and cost and
shall pay the fees of the surveyors of the Investment Company for the
periodic inspection of the works.
5. Upon completion of the works the surveyors of the Investment
Company shall issue a certificate that the works have been completed in
accordance with the provisions hereof and on the fourteenth day after the
issue of the certificate the Investment Company shall grant and the
Development Company shall accept a lease of the Property for the term
of ninety-nine years from the………… day of 20….. in consideration of the
payment of Rs…………. as premium and as the yearly rent of Rs………….
(subject to review as therein provided).
6. The lease shall be completed and taken up at the offices of the
solicitors for the Investment Company Messrs……………………….. at which
time and place the Development Company shall pay  the balance of the
said premium (credit being given for the deposit of Rs…………… which has
already been paid to the Investment Company).
7. The Property is demised subject to the restrictive covenants referred
to in the Charges Register of the said title and the Development Company
having been supplied with a copy thereof prior to the date  hereof the
Development Company shall be deemed to  purchase with full knowledge
of the said restrictive covenants and shall not raise any requisition or make
any objection in relation thereto.
8. The lease shall be in the said form annexed hereto and shall contain
all the rights easements privileges reservations and covenants set fourth
therein.
9. On completion of the grant of the lease the Development Company
shall pay the costs of the solicitors of the Investment Company incidental
to the preparation of this Agreement and the form of lease  the completion
of this Agreement and the grant of the lease together with the stamp duty
as may be required.
10.  The benefit of this Agreement is personal to the Development
Company and the Development Company may not assign the benefit
hereof (except for the purpose of securing the repayment by the Develop-
ment Company of money advanced by their bankers for the purpose of
carrying out the Works.)
AS WITNESS WHEREOF etc.160 CONVEYANCING, DRAFTING & DEEDS [Ch. 46
20 20 20 20 20
Agreement for sale of business with all movable and Agreement for sale of business with all movable and Agreement for sale of business with all movable and Agreement for sale of business with all movable and Agreement for sale of business with all movable and
immovable properties between two companies by immovable properties between two companies by immovable properties between two companies by immovable properties between two companies by immovable properties between two companies by
way of amalgamation, consideration being payable way of amalgamation, consideration being payable way of amalgamation, consideration being payable way of amalgamation, consideration being payable way of amalgamation, consideration being payable
partly in cash and partly in fully paid-up shares, partly in cash and partly in fully paid-up shares, partly in cash and partly in fully paid-up shares, partly in cash and partly in fully paid-up shares, partly in cash and partly in fully paid-up shares,
subject to adjustment by valuation subject to adjustment by valuation subject to adjustment by valuation subject to adjustment by valuation subject to adjustment by valuation
THIS AGREEMENT is made the………….  day of………….20….  BETWEEN
………….. Company Limited having its registered office at (address) (here-
inafter referred to as the vendor) of the FIRST PART AND …………..Company
Limited having its registered office at (address) (hereinafter referred to as
the purchaser) of the SECOND PART AND (managing director of vendor) of
(address, etc.) (hereinafter referred to as the director) of the THIRD PART.
WHEREAS:
(1) The vendor has for many yea