Points discussed on MOU with clients on 8th AUGUST 2018.

1. All the documents required by the buyers of the flats/houses

for the purpose of procurement of loan will be provided by the

first party and if the first party fails to provide the document on

time then the second party will stop the payment of

instalments due to first party.

2. The second party is planning to build stilt plus 4 floors on the

mentioned plots and if they face delay in getting the approval

from the authority to build stilt plus 4 floors then there would

be delay in payment of instalment to the first party.

3. The possession of the plots will be given to the second party

and they can even start the construction work but the selling

rights will be given only after the complete payment of the

above-mentioned plots is made to the first party.

4. The payment schedule which is decided between the parties is

as follows:

I. 20% payment within 15 days of signing MOU and the

first party will immediately transfer 5 plots to the second

party.

II. 10% payment in 60 days

III. 20% payment in 6 months

 IV. 20 % payment in 10 months

V. 30% payment in 14 months.

5. Second party will also pay Rs. 50, 00,000 as surplus to the first

party which will be considered as ‘Bayana’ for rest of the plots.

6. Schedule A will contain the payment schedule and Schedule B

will contain the details about the plots

7. Maintenance has to be provided by the first party at ate of rs.

2per sq.ft but the first party has to mention in the MOU what

all things are covered, in these maintenance charges.

8. The company will try its best to give possession of the

flats/Houses within 36 months excluding 12 months grace

period subject to force majeure and non-clearance of the

layout plan by the concerned authority.

9. If there is any enhancement related to registry or any other

enhancement the liability would be of only first party not

second party.

10. The rates of the plots include both EDC and IDC charges.