AGREEMENT FOR SALE OF APARTMENT

Agreement is made at Pune this……..day of………..January 2001

BETWEEN

Mrs.Gupte Usha Manohar Age:- 72 yrs, Occu:- household. of Pune hereinafter

referred to as “The Vendor of the first part

AND

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Mr.Kailas Bhalchandra Deshpande Age:- Adult Occu: Self Employed of Pune
hereinafter referred to as “ The Purchaser of the Second part

AND

i. Mr.Rajiv Manohar Gupte.Age:- 45yrs.Occu:- Business. Residing at Janaki

Niwas Paranjape Road No.3 VileParle East Mumbai :-400 057,

ii. Mr.Deepak Manohar Gupte.Age: - 42years. Occu:- Advocate. Residing at 2,

Ushakkal Apart. 72 Tulshibaugwale Colony.Sahakarnagar.
Pune:- 411 009, hereinafter referred to as the Consenting party of the Third
Part.

WHEREAS

1. The Vendor has received the said Apart in will made by it’s original owner
Mr.Manohar Gupte on date……...wherein Vendor has been entitled to have
possession and use of the said Apartment as an owner till her survival and
after her demise the said Apartment would devolve upon one of the above
said consenting parties. Thus as on now the Vendor is absolutely seized and
possessed of the Apartment situated at Tulshibaugwale colony
Sahakarnagar Pune and more particularly described in the scheduled A and
B hereunder written.

2. The Purchaser has agreed to purchase apartment in the said building being
Apartment No. 2 the ground floor of the said building and having the
specifications maintained in the second schedule hereunder written at the
price of Rs. 11,00,000/- (Rs. eleven lacs only.)

3. The Vendor has agreed to provide for inspection the documents of the Title
in the Vendor’s possession to the Purchaser and upon satisfaction of the
marketability of the Vendor’s title to the said property the purchaser has
agreed to purchase the said Apartment.

4. The Vendor declares that the said property is not subject to any
encumbrances or whatsoever nature.

5. The Purchaser declares that he has taken inspection of the plans and
specifications of the said Apartment.

6. The Purchaser has agreed to purchase and Vendor has agreed to sell on
ownership basis the said apartment no. 2 on the ground floor in the said
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 building, herein after referred to as “ The Said Apartment “ on the following
terms and conditions.

NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO

AS FOLLOWS.
.

1. The Vendor shall sell and Purchaser shall purchase the Apartment being
Apartment No. 2 having a carpet area of approximately 885/680 Sq.feet.
equal to ---------------Sq. meters on the ground floor of the building to be
constructed on the said property and delineated on the plan thereof hereto
annexed and marked Annexure “B” and thereon shown surrounded by red
colored boundary line at or for a lump sum price of Rs. 11, 00,000/- (Rs.
Eleven Lacks only) and this lump sum price shall (Subject as aforesaid) be
final and binding. Out of the said amount a sum of Rs. 3, 00,000/- in words
Rs. three lacs only has been paid by the Purchaser to the Vendor on the
execution of these presents the receipt of which the said Vendor agrees
upon the execution of these presents and for which there is no need of
separate receipt; and the balance amount of consideration will be paid by
installment for which a separate receipt shall be given by the Vendors as
and when the payment is made as follows:-

a. Rs.3,00,000.00 on or before …. Feb 2001, on these presents.

b. Rs.1,50,000.00 on or before 2nd March 2001
c. Rs.5,50,000.00 on or before 31st March 2001
d. Rs.1,00,000.00 on or before 2nd May 2001or against delivery of
possession of the flat by final conveyance whichever is earlier.

4. The Purchaser shall be entitled to take possession of the said Apartment

after he has daily observed and performed all the obligations and
stipulations contained in this agreement and on his part to be observed and
performed and has also duly paid to the vendor all and whatsoever the
amounts are payable by him under this agreement.

5. Nothing herein contained shall be constructed a grant in law to the

Purchaser of the said Apartment until final conveyance is executed.

6. The Purchaser shall do all acts, and things and sign and execute all other
documents and papers as shall be incidental to the due carrying out the
performances of the terms of this agreement and for safeguarding the
interests of the Vendor and other purchasers of Apartments in the said
building as the Vendor may require him to do and execute from time to
time.
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7. The Purchaser shall duly observe and perform all the rules and regulations
which the Association of Apartment owners have adopted at it’s inception
and otherwise observe all stipulations and conditions laid in the respect of
the use and occupation of particulars flats by particular members and to
insure regular and punctual payment of contributions and charges. The
Purchaser shall observe all the rules and regulations which the Declaration
and the rules and regulations the said Apartment Owners abide themselves.

8. All letters, receipts and /or notices will be issued by the Vendor and
dispatched under Certificate of posting to the following addresses of the
purchaser and if so dispatched it will be sufficient proof of receipt of the
same by the purchaser and shall effectively discharge the Vendor.

9. The Purchaser pay stamp duty, registration charges, his advocates’ fees for
registration & execution of this agreement & conveyance deed.

10. The Purchaser shall not use or permit to be said Apartment for any purpose
other than residential purpose and the Purchaser shall not cause or permit to
be caused any nuisance or annoyance to the occupiers of other flats and
apartments in the said building. The Purchaser shall not be entitled to use
any parking or other space in the compound of the building for parking his
vehicle, and his right to park the vehicle will be subject to the rules and
policy of the condominium.

11. 727354883.doc727354883.doc727354883.doc - 4 -
727354883.docSubject to the other provisions of the agreement the sale of
the said apartment will be completed upto 30 th April 2001. This time shall
be essence of present Agreement, failing of which the vendor shall be at
liberty to terminate the agreement by giving of 7days of notice refund
money received from the purchaser without interest.

12. The Vendor shall pay all the outgoings including ground rent, taxes, etc.
pertaining of the property upto the date of his handing over the actual
possession of the said Apartment.

13. The Vendor shall satisfy the Purchaser that there are no notices issued by
the government or Municipal Corporation or any other public body for
carrying out repairs to the said property and if such notice is issued prior to
the completion of the sale, the Vendor shall comply with the same at his
expenses.
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14. The Purchaser shall also join the Association of the Apartment Owner’s in
the said building and will be bound by the bye-laws of such Association.

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

Pune:-
Date:-

Witness

Vendor
1)

Purchaser

2)

Consenting party

Consenting party