Introduction
Links to Property Laws
Agreement for Sale of Leasehold Property
Agreement for Sale of Freehold Property
Agreement for Sale of Goods (F.O.B. Basis)
Agreement for Sale of Goods (C.I.F. Basis)
Deed of Conveyance by Mortgagee
Development Agreement by the Landlords in Favour of a Builder

Introduction
The term 'property' in common parlance indicates a property held by an individual to draw out benefit from it. Transfers are made by owners, co-owners or we can say joint owners. When two or more persons enjoy common ownership of a property, for example say in a coparcenary, the male members and now even daughters have a common and an equal interest in the ancestral property, any co-owner can transfer his own share in the property to a stranger or another co-owner. And that transferee steps in the shoes of the co-owner (transferor) and gets clothed with all his assets and liabilities. We can say that the transferee becomes the co-owner.
Section 44 of the Transfer of Property Act, 1882, deals with transfers by one co-owner. It also deals with the rights of a transferee in this type of a transaction.

Link to Bare Act-

Transfer of Property Act,1882

The transferee steps into the shoes of his transferor ie the co-owner, and is clothed with all the rights and becomes subject to all the liabilities of his transferor. In short, we can say that he becomes as much a co-owner as his transferor was before the transfer. Following are his rights after the transfer-

Right to joint possession
Every joint owner or co-owner of property has a proprietary right in the whole estate. After the transfer, the transferee becomes the co-owner and gets all his rights. He also has the right to joint possession in property except a dwelling house. If a co-owner or his transferee is ousted from joint possession, he is entitled to joint possession by a suit, and is not necessary forced to sue for partition. A co-sharer can sue for possession either for the benefit of the entire body of co-sharers or for the partition and possession of the plaintiffs share.

Right to peaceful possession
If instead of remaining in exclusive possession of his separate plot, the co-owner transfers it, his transferee cannot be disturbed by the other co-owners until and unless a final partition takes place. It was also held that where a tenant of a land who derives his title from all co-owners cannot be disturbed by one co-owner without the consent of all. But where the co-owners are enjoying the common property in separate plots for the sake of convenience, the court will not decree to one co-owner joint possession of the portion in the actual cultivation of the other.

Right to make improvements
If a co-owner can make out a case that he is entitled to make construction on any part of the joint land, he should be allowed to do so. But he is not entitled to make construction on any other portion of the joint holding or to the detriment of the other co-owners.

Right to enforce partition
In all cases of joint partnership, each party has a right to demand and enforce a partition; in other words a right to be placed in a position to enjoy his own right separately without interruption and interference by others. Under this section, not only a transferee of a share in the property but a transferee of any interest can sue for partition. A lessee, a mortgagee and even a life tenant is entitled to seek partition so far it is necessary to give effect to the transfer.

A claim of partition will only be refused on the ground of inconvenience. Partition does not depend on the duration of right. In a celebrated case a monthly tenant was also entitled to partition just to protect the rights of the plaintiffs. But a partition effected at the instance of a person having a temporary interest, lasts only till the expiry of that interest.

The transferee also gets the liabilities with all the benefits. The rights of the transferee are subject to the conditions and liabilities that attach at the date of the transfer to the share or interest so transferred.

Links to Property Laws

Agreement for Sale of Leasehold Property

THIS AGREEMENT is made at ____ this ________ day of ______ between Mr. A residing at __________ hereinafter referred to as the ‘Vendor’ of the One Part and Mr. B residing at _____________________ hereinafter referred to as the ‘Purchaser’ of the Other part.

WHEREAS –

1. By a Deed of Lease Dated the _________ day of _______ made between Mr. ____________ therein referred to as the Lessee of the One Part and the Vendor therein referred to as the Lessee of the Other Part and registered at _______ under Sr. No. _____ of Book No. 1, at the office of the sub Registrar at _______ the said Lessor has demised unto the Vendor the land and Premises situated at ______ and more particularly described in the Schedule hereunder written for a period of 999 years, from the day of ____ at the yearly rent of Rs. _______ and on the covenants, terms and conditions therein mentioned.

2. The said Lese is still valid and subsisting.

3. The purchaser has offered to purchase the leasehold land and premises and the Vendor has agreed to sell the same and to assign the said lease on the terms and conditions agreed upon and hereinafter set out.

NOW IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS :

1. The Vendor shall sell and assign to the Purchaser the said land and premises described in the Schedule hereunder written and assign the said lease for all the residue of the unexpired period of the said lease and subject to the rent reserved by and to the terms, covenants and conditions contained therein and the Purchaser has agreed to purchase the said land and premises subject to the said lease, at the price of Rs. ____ out of which the Purchaser has paid to the Vendor a sum of

Rs. ______ as earnest money on the execution of this agreement (receipt whereof the Vendor hereby admits) and the balance of Rs. ________ is agreed to be paid on the completion of the sale.

2. The Vendor shall make out a marketable title to the said leasehold property free from encumbrances and reasonable doubts. The root of title will be the said Deed of Lease and the Vendor will not be bound to make out a marketable title to the property so far as the said Lessor is concerned.

3. The Vendor shall deliver the title deeds relating to the said property in his possession or power within eight days from the date hereof for inspection thereof by the Purchaser or his Advocate for investigation of title. The said documents may be handed over to the Purchaser’s Advocate against his personal accountable receipt for the sake of convenience, if so required by the Purchaser’s Advocate.

4. If the Purchaser shall insist on any requisition or objection of any kind which the Vendor shall be unable or unwilling to remove or comply with, the Vendor may (notwithstanding any intermediate negotiation or litigation in respect thereof) give notice in writing to the Purchaser or his Advocate of the intention of the Vendor to rescind this contract unless such requisition or objection shall be withdrawn and if such notice shall be given and the requisition or objection shall not be withdrawn within 7 days after the day on which the notice was sent, this contract shall, without further notice, stand rescinded. The Vendor shall thereupon return to the Purchaser the said earnest money but without any interest, costs or other compensation or payment whatsoever.

5. The Vendor will obtain the written consent of the lessor to the assignment of the Lease as a condition precedent to the completion of the sale.

6. The outgoings in respect of the said property by way of property taxes, ground rent, land revenue payable by the Lessee till the completion of the sale will be paid by the Vendor and thereafter they will be paid by the Purchaser and the same if necessary will be apportioned as on the date of completion of this transaction.

7. The sale will be completed within a period of four months from the date thereof.

8. The sale will be completed by the Vendor executing a Deed of Assignment in favour of the Purchaser or his nominee paying the balance of the said price.

9. The draft of the Deed of Assignment will be prepared by the Purchaser’s Advocate and will be approved by the Vendor’s Advocate.

10. On completion of the sale as aforesaid, the Vendor will give possession of the said property to the Purchaser by delivering vacant possession of such portion thereof as is vacant and by attorning tenants of such portion thereof as are occupied by them to the Purchaser.

11. The Vendor declares that the said property is not subject to any acquisition or requisition and no notice has been received by him for carrying out any heavy or structural repairs. If any notice for acquisition or requisition or structural repairs is issued and received by the Vendor before completion of Assignment, the Purchaser will have the option to cancel this agreement and in that event the Vendor will return the earnest money paid to him by the Purchaser.

12. If the Vendor fails to make out a marketable title as aforesaid, the Purchaser will have the right to cancel this agreement by giving atleast fifteen days prior notice to the Vendor to that effect and on the expiration of the said period, the agreement shall stand terminated and in that event the Vendor will return the earnest money to the Purchaser and each party will bear and pay the costs of and incidental to this Agreement.

13. If the Vendor makes default in completing the sale within the stipulating period, the Purchaser shall have the right to make time essence of the contract and to cancel this agreement thereafter by giving atleast fifteen days notice in writing to the Vendor to that effect and on the cancellation of the agreement, the Purchaser shall be entitled to claim and recover from the Vendor not only the said amount of earnest money but also all costs, charges and expenses incurred by the Purchaser of and incidental to this Agreement and the damages suffered by him. This is without prejudice to the right of the Purchaser to seek specific performance of this agreement through Court.

14. If the Purchaser makes default in completing the sale, within the stipulated period, the Vendor shall be entitled to make time essence of the contract and to cancel this agreement, thereafter by giving atleast fifteen days notice to the Purchaser to that effect and on the cancellation of the agreement, the Purchaser will forfeit his right to the said earnest money which will be appropriated by the Vendor towards his claim for damages including the costs, charges and expenses of and incidental to this agreement.

15. Before execution of the deed of assignment the Vendor will obtain Income Tax Certificate under Section 230A of the Income Tax Act, 1961 as a condition precedent to the completion of sale.

16. The expenses by way of stamp duty payable on this agreement and the deed of assignment and registration charges in respect thereof will be borne and paid in equal shares by the parties hereto and except that all the other costs charges, and expenses incurred by the party in respect of the transactions including his and advocates fees will be borne and paid by him.

IN WITNESS WHEREOF the parties have put their respective hands the day and year first above written.

THE SCHEDULE ABOVE REFERRED TO

(Particulars of the property)

Signed and delivered by the

withinnamed Vendor

Mr. ________

in the presence of

Signed and delivered by the

withinnamed Purchaser

Mr. ________

in the presence of

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Agreement for Sale of Freehold Property

THIS AGREEMENT is made at _______ the ____________ day of ___________ between A (hereinafter called ‘the vendor’) of the Other Part, whereby it is agreed as follows :

1. The Vendor shall sell and the Purchaser shall purchase, for the sum of Rs. _______ whereof a sum of ____ has been paid to the Vendor as stakeholders on the signing hereof as a deposit, the freehold property particularly described in the First Schedule hereto (but subject to and with the benefit of the tenancies mentioned in the Second Schedule hereto so far as subsisting.)

2. The title to the property shall commence with Deed of _______ dated the ______ day of ________.

3. The Purchaser shall deliver the requisitions and objections (if any) in respect of the title and all other matters arising upon the abstract or this agreement to the Vendor’s Advocate within 14 days after the day of the delivery of the abstract and the replies to answers within 7 days after the receipt thereof and in these respects time shall be of the essence of the contract. In default of or subject only to any such requisitions and objections so made the purchaser shall be deemed to have accepted the title.

4. (i) If the purchaser shall insist on any requisition or objection of any kind which the Vendor shall be unable or unwilling to remove or comply with the Vendor may (notwithstanding any intermediate negotiations or litigation in respect thereof) give notice in writing to the Purchaser or his Advocate of the intention of the Vendor to rescind this contract unless such requisition or objection shall be withdrawn and if such notice shall be given and the requisition or objection shall not be withdrawn within 7 days after the day on which the notice was sent, this contract shall without further notice be rescinded.

(ii) The Vendor shall thereupon return to the Purchaser the deposit but without any interest, costs or other compensation or payment whatsoever.

5. The Purchaser shall admit the identity of the property agreed to be purchased with that comprised in the documents of title offered by the Vendor by a comparison of the description contained in the First Schedule hereto.

6. (i) The property is sold subject to all easements affecting the same.

(ii) The property is believed to be correctly described as to quantity and otherwise but if any error, misstatement or omission shall be discovered in the description of the property contained in the First Schedule hereto or in any plan annexed hereto the same shall not annual the same but reasonable compensation shall be allowed by the Vendor or the Purchaser as the case may require in respect thereof and the amount of such compensation shall in case of dispute be settled by two arbitrators or their umpire pursuant to the Arbitration Act, 1940.

7 (i) The Purchaser shall pay the balance of the purchase money on the ______ day of _______________ at the office of _________ the Advocate of the Vendor at which time and place the purchaser shall be completed.

(ii) Upon such payment the Vendor and all other necessary parties (if any) shall execute a proper assurance of the property to the Purchaser. Such assurance shall be prepared and (if necessary) stamped by and at the expense of the Purchaser.

(iii) The Purchaser paying the balance of the purchase money shall as from the day hereby fixed for completion of the purchase be let into possession or into receipt of the rents and profits and shall pay all outgoing which shall if necessary be apportioned and the balance shall be paid by or allowed to the Purchaser on completion.

(iv) If from any cause whatever (other than the willful default of the Vendor) the purchaser shall not be completed on that day the Purchaser shall pay to the Vendor interest on the balance of the purchase money at the rate of ___ per centum per annum from the day until the actual completion of the purchase but the Vendor shall have the option of taking the rents and profits of the property (less outgoing) upto the date of actual completion instead of the said interest and the Purchaser shall not be entitled to any compensation for the Vendor’s delay or otherwise.

(v) Provided that, if delay in completion arises from any other cause than the Purchaser’s own act or default the Purchaser may –

(a) at his own risk deposit the balance of the purchase money at any Bank in the name of the Purchaser or otherwise and –

(b) give notice in writing forthwith of such deposit to the Vendor’s Advocate and in that case the Vendor shall be bound to accept the interest allowed thereon as from the date of such deposit in lieu of the interest or net rents and profits accruing after that date which would otherwise be payable to the vendor under this condition.

8. The Purchaser shall pay to the Vendor the proportionate part of the premium as from the date of completion of sale on any subsisting policy of fire insurance and shall be entitled so far as the Policy or consent by the insurance office permits to the benefit of such insurance as from the date of completion and the Vendor shall if so required consent to the name of the Purchaser being endorsed on the policy or entered in the books of the insurance office as being interested in the policy but the Vendor shall not give to the Purchaser notice of any premium being or becoming due.

9. If the Purchaser shall fail to comply with these conditions the deposit shall be forfeited to the Vendor who may thereupon re-sell the premises at such time in such manner and subject to such conditions as the Vendor shall think fit and any deficiency in price which may happen on and all expenses attending such re-sale shall immediately afterwards be paid by the present Purchaser to the Vendor and if not so paid shall be recoverable by the Vendor as liquidated damages.

As witness the hands of the said parties have been put the day and year first above written.

The First Schedule (Particulars of the property)

The Second Schedule (Particulars of tenancies)

Signed by the Vendor

Mr. _______ in the presence of ___________

Signed by the said Purchaser

Mr. _________ in the presence of _________

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Agreement for Sale of Goods (F.O.B. Basis)

THIS AGREEMENT is made at … this … day of… between A B & Co. Ltd., a company registered under the (Indian) Companies Act, 1956 and having its registered office at … hereinafter referred to as ‘the Seller’ of the One Part and M/s … a foreign company registered under the … Companies Act and having Its registered office at … and its local agents’ office at … in India, hereinafter referred to as ‘the Buyer’ of the Other Part.

1. The Seller agrees to sell and the Buyer agrees to buy… bales of Indian Cotton (…. variety) at the price of … dollars per ton. The price will be on F.O.B. basis – June-July shipment.

2. The Buyer will nominate a ship within four weeks from the date hereof and shall give intimation of the expected date of her arrival at the port of dispatch and the Seller will ship the said goods in the nominated ship when she arrives at the port of …

3. The goods will be transported by the Seller upto the wharf where the ship will be anchored, at its own costs.

4. When the goods are delivered to the master of the ship against the mate’s receipt and the Bill of Lading is issued by the master, or owner of the ship, the delivery by the Seller to the Buyer will be complete and thereafter the goods will be the risk of the Buyer.

5. It will be the responsibility of the Buyer to pay the freight charges thereon, marine insurance charges and other charges for transporting the goods from the port of shipment to the port of destination and thereafter until the goods come into the actual possession of the Buyer.

6. On the loading of the goods in the ship, the Seller shall hand over to its banker the necessary documents of title to the goods and which will be sent by Its Bankers to their branch or nominated bank at the port of destination.

7. The Buyer shall open a letter of credit with its Banker in favour of the Sellers Bankers and on receipt of the documents of title by the Seller’s foreign Bankers, the Buyer’s Bankers will credit the amount of the price in the Sellers’ name with the Seller’s Bankers.

8. If any Import licence is required to be obtained by the Buyer at the place of destination the same will be obtained by the Buyer and the Buyer will be liable to pay all custom duty, import duty and other charges for clearance of the goods.

9. If any export licence Is required to be obtained for exporting the goods from India under the Indian Law, the same will be obtained by the Seller and all export duties will also be paid by the Seller’

10. The Buyer will be entitled to examine the goods by sample or otherwise at the port of loading and if the goods are not of the agreed quality or quantity the Buyer will have the option to reject the goods at the risk and costs of the Seller.

11. The seller shall carryout all customs formalities necessary for the exportation of the goods.

12. The seller shall bear all risk of laws of damage to the goods until such time as they have passed the ships rail at name port of shipment and thereafter all the risk of loss of or damage to the goods that is from the time they have passed the ships rail will be of the buyer.

13. The seller shall give to the buyer sufficient notice that the goods have been delivered on the board of the ship.

14. The seller shall pay the costs of checking quality measuring, weighing, counting and operations necessary for the purposes of placing the goods at the disposal of the buyer. The seller shall pack the goods properly and marked them appropriately.

15. The seller shall render to the buyer at the latter’s request risk and expenses and every assistance in obtaining documents or equivalent cleeironic massage issued or transmitted the country of ship man and/or of obligations which the buyer may request for the exportation of the goods.

16. The buyer shall pay all the costs relating to the goods from the time they have passed ships rail at the port of shipment as will as all costs incurred because of the ship named having failed to arrived in time or unable to take goods or closes for cargo earlier then the stipulated time or if the buyer fails to give sufficient notice to the seller of the ship, her arrival and loading place.

17. The buyer shall take delivery of the goods when they are brought on board the ship by the seller.

18. In case the ship nominated by the Buyer fails to arrive at the port of despatch within a reasonable time from the expected date of arrival or at all, the Buyer shall nominate another ship and intimate the date of arrival of that ship to the Seller. In such a case all the godown charges incurred by the Seller for storing the goods either with a clearing agent or with the port authorities from the date of arrival of the goods at the port till the date of putting the goods on board. the ship will be payable by the Buyer. If the nominated vessel does not land at the port of despatch but arrives at some other port in India the Seller will if so required by the Buyer transport the goods to the other port for shipment but in such a case the transport charges will be payable by the Buyer.

19. If any dispute arises under this contract, between the parties, of whatsoever nature, including any claim for damages the same will be referred to arbitration under the Byelaws of the … Cotton Association.

Sd/- Seller.

Sd/- Buyer.

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Agreement for Sale of Goods (C.I.F. Basis)

THIS AGREEMENT is made at … this … day of … between M/s. A B & Co. Ltd., a company registered under the (English) Companies Act and having Its registered Office at … London. hereinafter referred to as the ‘Seller’ of the one part and M/s. X Y & Co. Ltd., a Company registered under the (Indian) Companies Act, 1956. and having its registered office at … hereinafter referred to as ‘the Buyer’ of the Other Part;

1. The Seller agrees to sell to the Buyer and the Buyer agrees to buy from the Seller, synthetic rubber of… tons… quantity at the price of… sterling per ton (hereinafter referred to as the said ‘goods’) C.I.F. for December – January shipment.

2. The Seller- will engage space in a ship at the port of shipment and Intimate the name of the ship and her expected date of arrival in any port in India.

3. The Seller will enter into a contract of affreighment with the owner of the ship for transporting and delivery of the said goods at the port of… in India. The Buyer shall also obtain a Policy of Insurance for the value of the said goods upon the current terms and make out an invoice.

4. The Buyer shall open a Letter of Credit through its Bankers for the agreed price of the goods and including the freight, insurance and other charges in favour of the Seller’s Banker viz…

5. The Seller shall ship the goods in the ship and despatch the documents relating to the said goods namely the contract of affreighment, insurance policy, invoice. bills of lading etc. to Its Bankers at the port of arrival.

6. The said documents duly endorsed in favour of the Buyer will be handed over to the Buyer’s Bankers against encashment of the Letter of Credit and the Buyer will receive the same from Its Bankers to enable the Buyer to get the goods cleared at the port of arrival. Such delivery of documents will be deemed to be delivery of the goods to the Buyer and thereafter the goods will be at the risk of the Buyer.

7. If the said goods are short delivered or are not according to the quantity or quality agreed upon the Buyer, he will be entitled to claim compensation for the loss suffered by it due to short delivery or breach of warranty and the Seller will be liable to make good the loss.

8. If the goods are not shipped by the Seller within the shipment period mentioned above, the Buyer will have the option either to cancel this contract or to extend the period. If the contract is not cancelled within two weeks from the last date of shipment, the Buyer shall be deemed to have agreed to an extension of a reasonable period for shipment.

9. It will he the responsibility of the Buyer to obtain license for the Import of the goods In its country and to pay all the custom duties, import duties and other clearance charges for clearing the goods from the ship and carrying them to its factory or godown.

10. Similarly it will be the responsibility of the seller to take out an export License if required by the law of its country and to pay all charges for transport and shipment of the said goods.

11. The seller shall inter to the contract at is own expense for the carriage of the goods to the port of destination namely – by the usual route In a seagoing ship for the transport of the said goods.

12. The seller shall obtain at is own costs cargo Insurance for the price of the goods plus 10% so that the buyer shall able to the claim directly from the insurance provide the buyer with the Insurance policy or other evidence of insurance cover. The insurer shall be of good reputed and the Insurance shall be in accordance with maximum cover of the cargo clauses embed by the institute of undeprescribed writers. The declaration of the insurance shall be from the delivery of the goods on board the ship at the port of shipment namely …..

13. The seller shall he responsible for all the risk of loss of damage to the goods until such time as they have the passed the ships rail at the said port of shipment. The seller shall also bar the risk to the goods until they have been delivered as aforesaid including costs of loading the goods on boat the ship and charges for unloading at the port of discharge which may be levied by the shipping line when contracting for carriage and also pay all customs charges for exportation as will as all duties taxes and other Government charges payable on exportation.

14. The seller shall give sufficient notice that the goods have been delivered on board the ship as will as any other notice required to allow the buyer to take measures necessary to unable him to take delivery of the goods.

15. The buyer shall pay all costs relating to the good from the time they have been delivered to the ship and pay all costs and charges relating to the goods whilst in transit until her arrival and other charges and duties and taxes payable at the port of discharge.

16. If any dispute arises between the parties in respect of this contract of whatsoever nature or if any claim by one against the other is disputed the same will be referred to arbitration under the Bye-laws of the … Association in London.

Sd/- Seller

Sd/- Buyer.

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Deed of Conveyance by Mortgagee

THIS DEED is made at ……….. this ………. day of … ….. between Mr. ‘A’ being the partner of the firm of M/s. A B C & Co. carrying on business at ………. hereinafter referred to as ‘the Vendor’ of the One Part and Mr. ‘X’ residing at ……. hereinafter referred to as ‘the Purchaser’ of the Other Part.

WHEREAS one Mr. Y (hereinafter referred to as the Mortgagor) was absolutely seized and possessed of or otherwise well and sufficiently entitled to the land and premises situated at ……………….. and more particularly described In the Schedule hereunder written.

AND WHEREAS by a Deed of Mortgage dated the ……. day of ……. and made between the said Mortgagor and the partnership firm of M/s. A B C & Co. consisting of the said Mr. A, Mr. B and Mr. C as partners (therein referred to as the ‘Mortgagees’) and registered at the office of the Sub Registrar at ……. under Serial No …… of Book No. 1 on the day of …….. the said Mortgagor, in consideration of the sum of Rs ……… lent and advanced by the said Mortgagees, to the Mortgagor, granted and conveyed the said land and premises and other the premises therein mentioned TO HOLD the same unto and to the use of the Mortgagees subject to the covenant for redemption therein contained and on the terms, powers and provisions therein provided.

AND WHEREAS the said Deed of Mortgage, inter-alia provided that in the event of the Mortgagor failing to pay Interest on the said principal sum regularly or making default in paying the principal amount on the due date therein provided or committing breach of any term or condition or provision therein contained, the Mortgagees will be entitled to call back the amount due to them as if the due date had expired and in that event to sell the said land and premises by public auction without the intervention of the Court under the power given to them In terms of 8. 69 of the Transfer of Property Act, 1882.

AND WHEREAS the said Deed of Mortgage also. Inter-alia contained a joint account clause’ under which it has been provided that any one or more of the Mortgagees who will be available in the Town of ………. will he entitled to exercise any of the powers given to the Mortgagees including the power of sale and any receipt or deed of reconveyance on repayment of the amount or any deed of conveyance on sale of the said mortgaged property signed by any one of the Mortgagee will be valid as if it was signed by all and as if the other Mortgagees had appointed him as their constituted attorney.

AND WHEREAS the Mortgagor failed to pay interest regularly and to pay the Mortgage amount on the due date and the Mortgagees therefore, through their Advocate’s notice dated ……. called the Mortgagor to pay the amount due to them being the amount of Rs…………. for principal and interest accrued thereon to the Mortgagees.

AND WHEREAS the Mortgagor failed to pay to the Mortgagees the said amount even after the statutory period of the said notice expired and Interest of more than Rs. 5001- was also due and payable by the Mortgagees.

AND WHEREAS the Mortgagees. therefore, in exercise of the power of sale auction contained in the said Deed of Mortgage as aforesaid put up the said property for sale by public auction through M/s………………. auctioneers on the day ………. of ………. and at such auction sale, the Purchaser herein was the highest bidder for the sum of Rs. …….. and his bid was accepted and the Purchaser paid to the Mortgagees through the said auctioneers a sum of Rs ……… as advance or earnest.

AND WHEREAS the Purchaser has examined the title in terms of the particulars and conditions of sale and has requested the Mortgagees to execute this deed of conveyance in his favour.

AND WHEREAS the said Vendor is the only Mortgagee and partner of the firm of M/s. A B C & Co. now present, in the town the others having gone outside for business or otherwise and are not available at present and the Vendor is entitled to execute this deed for self and on behalf of the other partners of his said Firm under the circumstances aforesaid.

AND WHEREAS for the purposes of stamp duty the consideration /market value is fixed at Rs ……..

NOW THIS DEED witnesseth that pursuant to the premises and In consideration of the said sum of Rs …….. paid by the Purchaser as earnest money as aforesaid and the ……. sum of Rs …….. paid by the Purchaser on the execution hereof (receipt whereof the Vendor doth hereby admit for self and on behalf of the other Mortgagees) He the Vendor as such Mortgagee and for self and on behalf of the other Mortgagees and as their duly constituted attorney doth hereby grant and convey the said land and premises described in the Schedule hereunder written and all other the premises granted and conveyed by the Mortgagor to the Mortgagees by the said Deed of Mortgage and all, the right, title and Interest, claim and demands of the Mortgagees under and by virtue of the said Deed of Mortgage Into and upon the said land and premises being the mortgaged premises TO HAVE AND TO HOLD the same unto and to the use of the Purchaser absolutely freed and discharged of all the moneys due and the right. title and Interest and claims of the Mortgagees under the said Deed of Mortgage but subject to the payment of all taxes, assessments, dues and duties payable to the Government or Municipal Corporation or any other local authority in respect of the said premises And the Vendor doth hereby covenant for self and on behalf of the other Mortgagees that the Mortgagees have not done or caused to be done any act, deed or thing whereby they are prevented from selling the said Mortgaged property as aforesaid and executing these presents in manner aforesaid.

IN WITNESS WHEREOF the Vendor has put his hand the day and year first hereinabove written.

THE SCHEDULE ABOVE REFERRED TO:

Signed and delivered by the

withinnamed Vendor Mr. A for self and on behalf

of the withinnamed Mortgagees in the presence of …… ………

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Development Agreement by the Landlords in Favour of a Builder

THIS AGREEMENT made at ……………. this ……. day of …………, 2000, between (1) X, son of P, resident of ……………..; (2) Y, son of Q, resident of …………….. (3) Z, son of R, resident of …………….. (4) A, son of S, resident of …………….. (5) B, son of T, resident of …………….., and (6) Smt. C, son of U, resident of …………….., hereinafter called “the Vendors” (which expression shall unless repugnant to the context or meaning thereof mean and include their respective heirs, executors, administrators and assigns) of the FIRST PART; Smt. N wife of Shri M, resident of ………………….., hereinafter called “the Confirming Party” (which expression shall unless repugnant to the context or meaning thereof mean and include her heirs, executors, administrators and assigns) of the SECOND PART and …………………… a partnership firm through its Partner, D, son of F, resident of ……………………., hereinafter called “the Developers” (which expression shall unless repugnant to the context or meaning thereof mean and include partner or partners for the time being of the said firm, survivors or survivor of them and the heirs, executors, administrators of such survivor, their, his or her assigns) of the THIRD PART.

WHEREAS the Vendors are absolutely seized and possessed and sufficiently entitled to all those pieces or parcels of agricultural land, ground, hereditaments and premises one of which is the property bearing No. …………, admeasuring about ……….. sq. meters, situated at ………….……………………………. and more particularly described in the Schedule hereunder written and delineated on the plan hereto annexed and thereon shown surrounded by a red colour boundary line (which property shall hereinafter for brevity’s sake be referred to as ‘the property’).

AND WHEREAS the said property was owned and possessed by Shri X and after the death of said Shri X, the said property was transferred to the name of his daughter Smt …………… and after the death of the said ………………. who died on ………………….. the said property is inherited by the Vendors herein as the only legal heirs and representatives of the said Shri X.

AND WHEREAS the name of Smt. N, who is the second daughter of the said ………………….. was entered into ……………… by Mutation Entry No. ………….. only on …………….. However, the Vendors continued in the absolute possession of the said property being the heirs of said Smt. N, who had inherited the property of her deceased father Shri X and claimed the same absolutely she being under customary form of marriage and allowed to retain the property to her father absolutely and as such the said Smt. N does not claim any right, title and interest in the said property and agreed to confirm this agreement without claiming any right, title and interest therein.

AND WHEREAS the Vendors have represented to the Developers herein that they have filed the return of their total land holding as per section 6(1) of the Urban Land (Ceiling & Regulation) Act, 1976 with the Competent Authority under the said Act, and have also submitted the scheme under section 21 of the said Act to the said Competent Authority thereby requesting the Competent Authority to permit the Developers to develop the property as per the Scheme.

AND WHEREAS the Developers herein have approached the Vendors with an intention to develop the said property from the Vendors and pursuant to the negotiations by and between the parties hereto and subject to the necessary approval being granted by the Competent Authority under the provisions of Urban Land (Ceiling & Regulation) Act, 1976 which approval/sanction is agreed to be persuaded by the Developers at their own costs and expenses and also subject to the plan of the proposed development being sanctioned by the Municipal Corporation of …………………, which responsibility is agreed to be shouldered by the Developers herein as a result of which hereof the Vendors are desirous of appointing the Developers as developers of the said property more particularly described in the Schedule hereunder written for the consideration and upon the terms and conditions hereinafter appearing:

NOW THESE PRESENTS WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

(1) The Vendors do hereby nominate, constitute and appoint the Developers to develop/purchase the said property at their own cost more particularly described in the First Schedule hereunder written by constructing building/s thereon as per the plans/specifications to be approved and/or sanctioned by the Bombay Municipal Corporation and the Competent Authority under the Urban Land (Ceiling & Regulation) Act, 1976.

(2) In consideration of the Vendors having appointed the Developers as the Developers of the said property and the Vendors agreeing to allow the Developers to appropriate to themselves the entire profits arising from the development scheme as is hereinafter provided, the Developers agree to pay to the Vendors a sum of Rs. …………. (Rupees …………………… only) lump sum in the following manner:

(a) Rs. ………….. (Rupees ………………………. ) being the part consideration and/or earnest money paid by the Developers to the Vendors on or before the execution of these presents (the payment and receipt whereof the Vendors doth hereby admit, acknowledge, acquit, release and discharge the Developers forever). On execution of these presents the Vendors shall hand over vacant and peaceful possession of the said property to the Developers for the purpose of development.

(b) Rs…………… (Rupees …………….. only) being the further payment in the share of the development payable by the Developers to the Vendors on or before ……………… ; which failure to pay this amount on stipulated date will entitle Vendors to claim interest at ….. % p.a. from the date of default till payment.

(d) Rs………….. (Rupees ………………………. only) to be paid by the Developers to the owner on or before the ……… of ………….., 2000.

(e) Rs………….. (Rupees ……………… only) on or before the ………. of ……………, 2000.

(f) Rs………….. (Rupees ………………….. only) on or before the ……… of

……………….., 2000.

(g) Rs . ………….. (Rupees …………………. only) on or before the ……….. of ………………., 2000.

The above stated payment shall entitle the Vendors an interest from the date of default till the payment on the stipulated rate of ….. % p.a. as stated hereinabove, on the balance of the purchase price in full and final settlement of the Vendor’s claim over the said land on completion of the sale and/or execution of the Conveyance Deed and if more than one Conveyance Deed are to be executed on execution of last conveyance and all other necessary writings in favour of the Developers, his/their nominee/s including a proposed co-operative housing society or a Body Corporate as is hereinafter provided. It is made clear that if the Developers fail to take conveyances in his/their favour or in favour of the said proposed co-operative housing society before the amount stated in this sub-clause is to be deposited by the Developers with the Vendors till the conveyances and all other necessary writings as stated hereinabove are completed and/or executed and the property in question is transferred to the name of the said proposed co-operative society, but if the Developers fail to deposit the said amount as stipulated herein, they shall be liable for penal interest at the rate of ….. % from the date of default as stated above.

Provided that if any FAR in addition to the existing available FAR becomes available in respect of the said property, the Developer shall pay an additional sum @ Rs. …………. per Sq. ft. to the Vendors on such additional FAR being sanctioned by the Municipal Corporation. The said payment will be made in 2 instalments on or before ……………… and ………………., 2000.

(3) Within seven days from the execution of these presents, the vendors shall deliver or cause to be delivered all the title deeds, property card, certified copy of the plans of City Survey, etc. in relation to the property hereby agreed to be developed to Builder’s Solicitors M/s. ………………………………. & Co. for the purpose of investigation of Vendor’s title to the said property.

(4) The present price of Rs. ………. is based on the area shown in …………………….. i.e. …………… sq. meters, which are to be ascertained by the parties hereto on joint survey and if the area is varied i.e. increased or decreased, the price will fluctuate – either increase or decrease at the rate of Rs . ………… per sq. meter.

(5) As per the present development plan, certain areas of the property hereby agreed to be developed is reserved for PG The Developers are not bound to pay for the said reservation, but in case they get the benefit of FAR and use the same for the purpose of development, they shall pay the Vendors at the above stated stipulated rate to the extent of benefit they have received from the said P.G. reservation.

(6) The Vendors declare that they have already filed the return as required under section 6 of the Urban Land (Ceiling & Regulation) Act, 1976. However, till date, they have not pursued the matter with the Competent Authority. The Vendors hereby authorise the Developers to obtain the N.O.C. under the Urban Land (Ceiling & Regulation) Act to the extent of a maximum share available and shall not object any share not being used for the purpose of development of the property hereby agreed to be developed. The Vendors further assure to extend maximum co-operation for obtaining N.O.C. and for giving declarations, affidavits, etc.

(7) Upon the payment of the said sum specified in clause 2(b) above, the Vendors shall hand over the vacant and peaceful possession of the said property to the Developers and Developers shall thereafter be authorised to commence construction of buildings on the said land in accordance with the plans approved and/or sanctioned by the ……………Municipal Corporation as well as under the Urban Land (Ceiling & Regulation) Act, 1976 and take such steps as may be necessary or expedient and incidental to carry out the development of the said land at their own costs, expenses. For the said purpose, the Developers shall be entitled to appoint Architects, Engineers, Surveyors, Contractors, Agents and other personnel and shall be entitled to take all such steps as may be necessary or incidental for such development and construction work at their own costs and expenses.

(8) It is agreed and undertaken by the Developers that they shall at their own costs and expenses persuade the matter regarding NOC with the Competent Authority under the Urban land (Ceiling & Regulation) Act, 1976 and obtain NOC from such authority. It is further agreed by the Developers that all the necessary permission and/or sanction required from the Competent Authority and/or State Government either for the purpose of development of the said property or for the transfer of the said property including the proposed structure thereon under the provisions of the Urban Land (Ceiling and Regulation) Act, 1976 shall be obtained by the Developers at their own costs and expenses and the Vendors shall not be liable for any such NOC, expenses relating thereto or delay in obtaining the same.

(9) Immediately on the execution of these presents, the Vendors herein shall execute a Power of Attorney in favour of the Developers or their Nominee(s) as may be desired by the Developers for the purpose of signing and/or executing all the applications, proceedings, plans, etc. to obtain necessary approval from the various authorities in connection with the development to be submitted by the Developers on behalf of the Vendors to the Competent Authority, Urban Land Ceiling, Municipal Corporation of …………………, Town Planning Authority or any other Government or Semi-Government authority in connection with the development so as to facilitate the development of the property hereby agreed to be developed by the Developers on behalf of the Vendors. The Vendors hereby agree that the said Power of Attorney shall not be, under any circumstances, revoked by the Vendors as long as these presents subsist and remain binding upon the parties hereto. If the said Power of Attorney is revoked by the Vendors and delay is caused in developing the property hereby agreed to be developed the consequences arising thereof shall be at the costs of the Vendors alone.

(10) It is agreed and undertaken by the Developers that they shall at their own costs and expenses persuade the matter with Town Planning Authorities, Municipal Corporation of …………………., …………………Electric Supply for the purpose of removing the reservation/restriction, if any and for the purpose of allotting the plots under ………. Scheme, etc. and under no circumstances, the Developers shall call upon the Vendors to pay the costs of such actions. The Developers agree and undertake that at any post and under any circumstances they will get the property released from reservation, if any, and get the said allotted under ………. Scheme. in favour of the Vendors. It is agreed by the Developers that whatever may be the final sanction under ………. Scheme they shall pay to the vendors as per the original plot area.

(11) The Vendors shall render all assistance, co-operation and sign and execute or cause to be signed and executed all applications, plans, authorities and other writings as may be necessary or required to enable the Developers for development of the said plot and to obtain approval of the ……….. Municipal Corporation and Planning Authority to the Plans, designs and drawings for putting up building and structures and shall on the execution thereon execute a Power of Attorney in favour of the Developers or their Nominee/s to enable them to develop the said property and the Developers shall indemnify and keep indemnified and harmless the Vendors and their estate and effects from and losses or damages or any consequences which may flow by virtue of their signing the said Power of Attorney.

(12) All buildings to be constructed on the lands comprised under this Agreement and the dwelling units thereon will be in accordance with the Scheme sanctioned by the Competent Authority or State Government under the provisions of Urban Land (Ceiling & Regulation) Act and will be dealt with in accordance with the directions, if any, given by the Competent Authority or State Government while sanctioning the said scheme. If the Developers desire any variations in the said scheme, so as to provide dwelling units of larger sizes in the building to be constructed on the said land and/or to receive higher price for such dwelling units the Developers, shall be at liberty to make necessary application for the purpose to the authorities concerned at their own costs and the Vendors shall join the Developers in the said applications provided however, if the authorities concerned refuse or decline to give ,any such applications, which may be made by the Developers, dwelling units on the said property will be constructed in accordance with the scheme which may be sanctioned by the Competent Authority or State Government under the said Act.

(13) The Developers shall not commence any work of development on the said property, unless the no objection and commencement certificate is issued by the State Government/Municipal Corporation in favour of the vendors.

(14) It is expressly agreed by the Developers that they shall at their own costs and expenses obtain permission/s from the Competent Authority for the purpose of development of the said property and/or for the purpose of implementing the construction scheme in respect of the entire property hereby agreed to be sold, so as to enable the Developers to construct the dwelling units as per the scheme sanctioned by the Competent Authority and to enable the Developers to consume the entire available F.S.I. and after being constructed to allot flats/shops/garages, etc. to the intending flat purchasers and ultimately to transfer the said property to a co-operative housing society and/or a company. It is also agreed and undertaken by the Developers that they shall apply for and obtain non-agricultural user from the Collector, in respect of the said piece or parcel of land.

(15) The Vendors shall make out a clear and marketable title to the said property, hereditaments and premises agreed to be developed and ultimately to be conveyed free from reasonable doubts and all encumbrances and shall at their own costs and expenses get in all outstanding estates and clear all defects in the title and all encumbrances and claims on or to the said property including all claims by way of sale, exchange, mortgage, gifts, trust, hereditaments, possession, except the possession of agricultural tenants, easement, lease, lien or otherwise.

(16) It is agreed and understood that the Vendors shall not in any way obstruct the development work to be carried out by the Developers and shall not do any act, matter or thing whereby the Developers will be prevented from carrying out the Development work envisaged under this Agreement.

(17) The Developers shall at their own cost make necessary arrangement for construction of the buildings on the said land in accordance with the scheme, which may be approved by the Competent Authority or State Government under the provisions of the said Act and the Developers shall execute an indemnity in favour of the vendors for the due performance of the terms of the said order.

(18) The Developers shall be at liberty to allot the dwelling units of flats in the said buildings to be constructed on the said property or to enter into any package deal agreement for allotment of completed building or buildings to be constructed on the said land with such party or parties and at such price ‘and on such terms and conditions as the Developers/Purchasers may deem fit and proper. All such allotments and arrangements shall, however, be made by the Developers at their own costs and expenses and at their own risk, the intention being that the Developers shall alone be liable and responsible to such party or parties, provided, however, that the price and the terms and conditions at or on which the said building or buildings or part thereof are to be allotted shall not in any manner be inconsistent with or in contravention of any law and conditions imposed in NOC under section 20 or 21 of the said Urban Land (Ceiling & Regulation) Act, as may be sanctioned by the Competent Authority or State Government. The Developers hereby indemnify and keep indemnified the Vendors in respect of any such claim that may be made or suffered by the Vendors and costs, charges and expenses on account of sale or allotment of flats or otherwise.

(19) The Developers shall be entitled to enter into usual Agreement for sale of flats/shops/ garages/office premises with various intending buyers, on what is known as ownership basis, on such terms and conditions and at such price as the Developers may think fit and proper: PROVIDED, however, the Developers shall not part with possession of the flats, shops, garages, units, etc. in the buildings that will be constructed by them in pursuance of this Agreement unless and until the entire amount payable to the Vendors as per these presents is paid by the Developers to the Vendors.

(20) All amounts payable by the allottees of the dwelling units and the buildings to be constructed on the said piece of land or from the allottees of completed building in case of package deals under any arrangements made by the Developers with such allottees shall be received and appropriated by the Developers.

(21) The entire development work in respect of the property shall be carried out by the Developers in accordance with the plans that may be approved by the Municipal Corporation of ……………. and other concerned authorities and while carrying out construction work, the Developers will strictly comply with the building rules and bye-laws of the Municipal Corporation of Greater Bombay, various instructions, orders and directives, that may from time to time be issued in regard to the construction work by the Bombay Corporation and other concerned authorities. The Developers shall carry out the entire construction work at their own account and risk and at their own responsibility and shall pay and discharge all the costs, charges and expenses in relation to the construction work including payment of salaries and wages to the personnel and workmen employed in construction work, bills of the suppliers of building materials, Municipal rates and taxes in respect of the said property and from the date the Developers being put in possession and allowed to enter upon the said property, fees of the architects and R.C.C. specialists and consultants and all other professionals charges and/or retained in regard to the construction work. The Developers hereby agree to indemnify and keep indemnified the Vendors of land from or against any claim that may be made against Vendors by any one and/or any damage the Vendors may suffer as a result of the Developers committing breach of any of the building bye- laws, rules, orders, directives, instructions that may be issued by the Municipal Corporation of ………………. and other concerned authorities in connection with the construction work as aforesaid and/or the Developers committing default in payment of the salaries, wages and fees including the payment for injuries or any compensations during the progress of work of various mentioned hereinabove as also in payment of the Bills of Suppliers of the building materials and in payment of the Municipal taxes or in any damages or loss that may be suffered or sustained by the Vendors as a result of the Developers carrying out the construction work and/or development on the said property.

(22) It is agreed that the developers shall carry out ail the work of development in their name/s or in the name of their nominees, shall not do or cause to be done any act, deed, matter or thing in the name of the Vendors. It is expressly understood that all the agreements, arrangements or writings which the Developers may enter into shall be in their own name and not in the name of the Vendors. It is also expressly understood that the Developers will be entitled to the benefit of rights of development under any order or permission which may be issued by the Government of …………… under section 20 and/or 21 of the Urban Land (Ceding & Regulation) Act, 1976.

(23) The Vendors hereby declare that:

(a) The said property is equivalent to freehold and is not held under any agreement;

(b) There are no outstanding encumbrances, mortgages, liens (notice for acquisitions, requisitions or set back) easements, rights of tenants or outstanding interest or claim by any parties other than the Vendors nor is the said property subject-matter of any pending suit or attachment either before or after judgement. No notification is issued under any Ordinance, Act, statute/rules or regulations affecting the said property;

(c) The Vendors further declare that neither the Vendors nor his/their predecessors-in-title nor any body claiming from/or under them or any of them have or have granted any right of way or easement or other rights to any person over the said property;

(d) The Vendors agree and undertake to obtain consent and confirmation from Smt. N and in case of her demise before the execution of the conveyance from the legal heirs of said Smt. N confirming the sale in favour of the Developers or their nominee/s including a co- operative housing society as the case may be.

(24) It is agreed that the Vendors and all other necessary parties shall execute the Deed of Conveyance and/or all other writings in favour of such person/s as the Developers may direct and in the event of Conveyance/s be given in favour of the Nominee/s of the Developers or a proposed co-operative housing society. The Developers shall also join as a Confirming Party to the said Conveyance.

(25) The Vendors will ensure that at the time when the Developers are allowed to enter upon the said piece of land described in the Schedule hereunder written, the said piece of land is absolutely vacant and nobody is in occupation of the same.

(26) The Vendors hereby agree and confirm that the Developers shall be entitled to transfer the benefit and burden of this Agreement subject to the terms and conditions mentioned herein either as a whole or in part to one or more parties and that the Vendors shall have no objection to the same and the terms and conditions of this agreement shall remain binding over such transferees.

(27) It is agreed that the Developers shall carry out the work of development in their own name and shall not cause or cause to be done any deed or matter or thing whereby the Vendors are put to loss and have to discharge any liability. It is expressly agreed that the agreement which the Developers may enter into with any person in connection with the development scheme or for sale of flats, etc. shall be entered into only in the name of the Developers on principal to principal basis and not as agents of the Vendors herein.

(28) The Developers agree to pay Municipal, betterment charges, T.P. charges, water charges, electricity charges, fines and penalties arising as a result of change in the user of the said land.

(29) The Vendors declare that the land, hereditaments and premises hereby agreed to be developed and conveyed are not subject to the easement or rights in the nature of easement.

(30) The Vendors hereby declare that no notice from Government or any other body or authority or under the ………………. Municipal Corporation Act or Land Acquisition Act or Town Planning Act, The Defence of India Act or under any other legislative enactments, Government Ordinances, Order or Notification (including any notice for acquisition or requisition of plots or any part thereof) has been received by or served upon them or any other person/s interested therein nor is the said plot or any part thereof included in any intended or publishes scheme of improvement of the Municipal, Government body or Public Body or authority save and except that the said plot is included in the development plans for …………. and portion of it is intended for reservation of playground.

(31) The Vendors hereby agree to pay and discharge all taxes and outgoings in respect of the said land prior to the sale on which the Developers are put in possession of the said land.

(32) The Vendors shall be entitled to receive the rent and profits and shall be liable to pay all outgoings, such as Municipal taxes, land revenue, etc. prior to the date the Developers are put in possession and the Developers shall from the date they are put in possession be entitled to receive the rents and profits and liable to pay all outgoings (including Municipal taxes, land revenue charges for consumption).

(33) The Vendors shall pay all outgoings including the ground rent, municipal and Collector’s bills and charges in respect of the said property hereby agreed to be developed and conveyed previous to the date of handing over of the possession to the Developers. The Developers agree and undertake to bear all the betterment charges in respect of the said property and all taxes, Municipal, Collector’s bills, etc. after the date of taking over of the possession.

(34) On the execution of these presents, the Vendors have authorised and allowed the Developers to put up the notice/signboards @herein indicating the proposed development scheme of the Developers )n the said property.

(35) From the date of the possession, the Developers shall be entitled to commence the construction of the new building at their own costs and responsibility and also enter into the agreement for sale of units/flats, etc., herein at their entire responsibility on what is known as ownership basis’.

(36) The Vendors hereby authorise the Developers to sign and execute applications, writings, undertakings for amalgamation, layout, sub-division, building plans and other assurances and submit the same D the Municipal and Public authorities and to obtain commencement certificate, etc. for obtaining N.A. and transfer Permission for the purpose of and for the development of the said property and also to appoint the Architect at Developers’ costs and expenses. It is also agreed that all the costs, charges and expenses to e incurred in pursuance of this clause save and except as provided otherwise in this Agreement shall be borne and paid by the Developers alone irrespective of the fact whether the transaction goes through or not.

(37) The Vendors declare that the property in question is ancestral property. However, there is no minor interested in the property and hence the question of obtaining the sanction from the competent Court relating to minor’s interest in the property does not arise.

(38) If the Development/sale be not completed due to any wilful default on the part of the Vendors, the Developers shall be entitled to specific performance of this Agreement.

(39) The Vendors shall immediately on execution of the Conveyance apply for and shall obtain his/their Income Tax Clearance Certificate under section 230A of the Income-tax Act, 1961 in respect of Deed of Conveyance of the said property and till that time the balance purchase price to the Vendors shall remain deposited with the Vendor’s Advocates as his stake-holders.

(40) The Developers are aware of the fact that at present there is no proper access to the property to be developed and the Developers have agreed to construct a road thereby facilitating an access to the properly hereby agreed to be developed at the Developers own costs and expenses and under no circumstances, the Developers shall cancel these presents on the ground of non-availability of access as it is agreed by the Developers that they shall bear the costs of the access, if necessary.

(41) On the execution of these presents, the Vendors authorise and allow the Developers to put up the notice/signboards therein indicating the proposed development scheme of the Developers on the said property. However, it is made clear by the Vendors to the Developers that to put up the signboards does not mean even by implication the handing over of the possession and mere putting of the signboards does not give any right to the Developers of possession and the Developers shall not have any interest whatsoever against the said property.

(42) This agreement shall not be treated as a partnership between the Vendors and the Developers.

(43) The Developers shall indemnify and keep indemnified the Vendors from and against all actions, claims, demands, proceedings, fines, penalties and all costs, expenses and damages incurred or suffered by the Vendors in the course of such development.

(44) Save and except as hereinbefore otherwise provided, all costs, charges and expenses of the Vendors and of the Developers and incidental to this Agreement and Conveyance and other writing or writings to be made in pursuance hereof including stamp duty, registration charges, plan, certified copies, correspondence and all the expenses shall be borne and paid by the Developers alone. The fines and penalties payable to the Collector or transfer of the property not incurred by reason of any delay in lodging the Deed of Conveyance by the Developers shall be paid by the Developers alone. The penalty payable to the Registrar of Assurances shall be paid by the party by whose default such penalty may have become leviable.

IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands and seals the day and year first hereinabove written.

The Schedule above referred to

ALL THAT piece or parcel of land, ground, hereditaments and premises bearing No. ………… and admeasuring about ………. sq. meters, situated at …………………………………… and delineated on the Plan hereto annexed and thereon shown surrounded by a red colour boundary line and bounded as follows:-

On or towards the East

On or towards the West

On or towards the North

On or towards the South

Signed, sealed and delivered by the

within named Vendors

1. X

2. Y

3. Z

4. A

5. B

6. Smt. C

Signed, sealed and delivered by the

within named Confirming Party Smt. N

WITNESSES;

Received the day and year first hereinabove written of and from the within named Developers a sum of Rs. ………… (Rupees ………………. only) as and by way of earnest money to be paid by them to us by Cheque No . ……………….. dated ……………….. for Rs . ……………. drawn by the ……………………………..

We Say Received

1. X

2. Y

3. A

4. B

5. Smt. C

SIGNED, SEALED AND DELIVERED by the

within named Developers M/s. ……………

by the hands of Shri …………………..,

its partner.