Construction of the Project. 6.1 The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Unit and accepted the payment plan and the specifications, amenities and facilities (annexed along with this Agreement) which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye -‐ laws, FAR and provisions prescribed by the Madhya Pradesh Law and shall not have an option to make any variation/alteration/modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of the Agreement. 6.2 It is made clear by the Promoter and the Allottee agrees that the Unit shall be treated as a single indivisible unit for all purposes. 6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the township. The PROMOTERS and/or its nominees shall in all/any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the project. The Allottee and the member of the society/COMPANY shall also admit such new intending Allottees as its members. 6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever. 6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion: i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted. ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased. iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any. iv. To decide from time to time to what extent the township will be transferred to the respective body formed. v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 2 contracts
Sources: Sale Agreement, Sale Agreement
Construction of the Project. 6.1 The Allottee allottee has seen the proposed layout plan, specifications, amenities and facilities specifications of the Unit [“TWO SQUARE”] and accepted the payment plan and the specificationsPayment plan, amenities and facilities (annexed along with this Agreement) floor plans, layout plans which has been approved by the competent authorityAuthority, as represented by the Promoter. The Promoter promoter, and the promoter shall develop the Project in accordance with the said layout plans, floors plan and specifications, amenities and facilities. Subject to the terms in this Agreementthe agreement, the Promoter promoter undertakes to strictly abide by By such plans approved by the competent Authorities and shall also strictly abide by the bye -‐ laws, FAR and provisions prescribed by the Madhya Pradesh Law and shall not have an option to make any variation/alteration/modification in such plansauthority, other than in the manner provided Provided under the Act, act and breach of the agreement 7. POSSESSION OF THE APARTMENT / PLOT Schedule for possession of the said [Apartment/Plot]: The Promoter agrees and understands that timely delivery of possession of the apartment is the essence of the (Agreement) is the essence of the Agreement. The Promoter, based on the approved plans and specifications, assures to hand over possession of the Apartment on within 24 months from the date of this term agreement unless there is delay or failure due to war, flood, drought, fire, cyclone, earthquake, or any other calamity caused by nature affecting the regular development of the real estate project (“Force Majeure”). If, however, the completion of the project is delayed due to the Force Majeure conditions then the A agree that the Promoter shall constitute a material breach be entitled to the extension of time for delivery of possession of the Agreement.
6.2 It is made clear apartment, provided that such Force Majeure conditions are not of a nature which makes it impossible for the contract to be implemented. The vendee agrees and confirm that in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this agreement shall stand terminated and the Promoter shall refund to the Allottee the entire amount received by the Promoter/Vendor from this agreement within 45 days from that date. After refund of the money paid by the vendee. Vendee agrees that he/ she shall not have any rights, claims, etc. against the Promoter/vendor and that the Promoter/ vendor shall be released and discharged from all its obligations and liabilities under this Agreement. Procedure for taking possession- the occupancy certificate of the Project. Failure of Allottee to take Possession of [Apartment/Plot]: Upon receiving a written intimation from the Promoter as per clause 7.2, the Allottee shall take possession of the [Apartment/Plot] from the Promoter by executing necessary indemnities, undertaking and such other documentation as prescribed in this Agreement and the Promoter shall give possession of the [Apartment/Plot] to the allottee. In case the Allottee agrees that fails to take possession within the Unit time provided in clause 7.2 such Allottee shall continue to be liable to pay maintenance charges as applicable. Possession by the vendee- After obtaining the occupancy certificate and handing over physical possession of the Apartment to the vendee, it shall be treated the responsibility of the Promoter/vendor to hand over the necessary documents and plans, including common areas, to the association of the vendee or the competent authority, as a single indivisible unit for all purposes.
6.3 the case may be, as per the local laws. Cancellation by Allottee- The PROMOTERS Allottee shall have the right to grant right of accesscancel/way and/or other easement rights withdraw his allotment in the Project as provided in the Act: Provided that where the allottee proposes to cancel/ withdraw from the said land project without any fault of the promoter, the promoter herein is entitled to forfeit the booking amount paid for development the allotment. The balance amount of money paid by the allottee shall be returned by the promoter to the allottee within 45 days of such cancellation. Compensation- The Promoter shall compensate the Allottee in case of any property adjacent loss caused to this property and permit him due to use the common facilities defective title of the townshipland, on which the project is being developed or has been developed, in the manner as provided under the Act and the claim for compensation under this section shall not be barred by limitation provided under any law for the time being in force. The PROMOTERS and/or its nominees shall in all/any such event as mentioned above be also entitled Except for occurrence of a Force Majeure event, if the promoter fails to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities complete or is unable to give possession of the project. The Allottee and [Apartment/Plot] (i) in accordance with the member terms of this Agreement, duly completed by the date specified herein; or (ii) due to discontinuance of his business as a developer on account of suspension or revocation of the societyregistration under the Act; or for any other reason; the Promoter shall be liable , on demand to the allottees, in case the Allottee wishes to withdraw from the Project, without prejudice to any other remedy available, to return the total amount received by him in respect of the [Apartment/COMPANY shall also admit such new intending Allottees Plot], with interest at the rate specified in the Rules within 45 Days including compensation in the manner as its members.
6.4 AT its sole and absolute discretionprovided under the Act. Provided that where if the Allottee does not intend to withdraw from the project, the PROMOTERS may start construction/ development/ renovations on any part Promoter shall pay the Allottee interest at the rate specified in the Rules for every month of delay, till the handing over of the said land/ project or on possession of the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever[Apartment/Plot].
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Agreement for Sale
Construction of the Project. 6.1 The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Unit and accepted the floor plan, payment plan and the specificationsspecification, amenities and facilities (annexed along with this Agreement) Agreement which has been approved by the competent authority, as represented by the Promoter. The Allottee hereby acknowledges that he has examined and accepted the Layout Plans, designs, specifications of the Unit made available to him for review. It is also acknowledged by the Allottee that the said documents are kept at the Promoter’s Corporate Office and are available for review at any reasonable time, with sufficient notice. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities authorities and shall also strictly abide by the bye -‐ bye-laws, FAR FAR, and density norms and provisions prescribed by the Madhya Pradesh Law relevant building bye-laws and shall not have an option to make any variation/alteration/variation/ alteration/ modification in such plans, other than in the manner provided under the Act, and breach of this term clause by the Promoter shall constitute a material breach of this Agreement. However, the Agreement.
6.2 Allottee, hereby, agrees that the Promoter shall have the right to make such variations, additions, alterations, and modifications in the Layout Plan and /or specifications, as and when required, on account of sanction / revision of building plans by the concerned government authorities or otherwise at the discretion of the Promoter, or due to technical reasons, site conditions, or any other reasons and the same may include (but shall not be limited to) change in the position of the Unit, increase / decrease in size thereof, change in floor plan, layout and/or number thereof, in a manner as provided under Rajasthan Apartment Ownership Act, the Act, and the applicable laws or relevant regulations, rules, or acts. The Promoter also reserves the right to develop the surrounding areas (falling outside the Allotee’s Unit). The Allotee shall have no right of objection in respect of the same and the Agreement shall stand modified to this effect correspondingly. It is made clear agreed and understood by the Allotee that the Built-Up Area of the Unit indicated in this Agreement is tentative and may vary from final Built-Up Area of the Unit. The Allottee agrees that the Promoter may affect variations/ alternations/modifications resulting in ± 2% (two percent) change in the Built-Up Area indicated in this Agreement /Layout Plan on account of design or statutory conditions and Allottee hereby gives his consent to such variation/additions/alterations/deletions/modifications etc. Provided that in case of any major alteration / modification resulting in more than± 2% (two percent) change in the Built-Up Area of the Unit as indicated in this Agreement, the Total Selling Price of the Unit shall be adjusted on pro-rata basis based on the change (decrease or increase) in the Built-Up Area and the Allotee shall be refunded any excess amount or be required to pay additional Total Selling Price, as the case maybe. POSSESSION OF THE UNIT: The Promoter agrees and understands that timely delivery of possession of the Unit to the Allottee and the common areas to the Maintenance Society or the competent authority or the Allottee, as the case may be, is the essence of this Agreement. The Promoter assures to handover possession of the Unit along with ready and complete common areas with all specifications, amenities and facilities of the Project in place by Jan’28, unless there is delay or failure due to war, flood, drought, fire, cyclone earthquake or any other calamity caused by nature effecting the regular development of the real estate project (“Force Majeure”) and/ or any extension has been granted under the Act (“Extended Period”). If, however, the completion of Project is delayed due to the Force Majeure conditions then the Allottee agrees that the Unit Promoter shall be treated as a single indivisible unit entitled to the extension of time for all purposes.
6.3 The PROMOTERS shall have the right to grant right delivery of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities possession of the township. The PROMOTERS and/or its nominees shall in all/any Unit, provided that such event as mentioned above Force Majeure conditions are not of a nature which make it impossible for the contract to be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the projectimplemented. The Allottee agrees and confirms that, in the event it becomes impossible for the Promoter to implement the project due to Force Majeure conditions, then this allotment shall stand terminated and the member Promoter shall refund to the Allottee the entire amount received by the Promoter from the Allottee with within 45 (forty-five days) from that date. The Promoter shall intimate the Allottee about such termination at least 30 (thirty) days prior to such termination. After refund of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretionmoney paid by the Allottee, the PROMOTERS may start construction/ development/ renovations Allottee agreed that he/she shall not have any rights, claims etc. against the Promoter, and the Promoter shall be released and discharged from all its obligations and liabilities under this Agreement. The Promoter, upon obtaining the completion certificate from the competent authority shall offer in writing, the possession of the Unit, to the Allottee in terms of this Agreement, within 2 (two) months from the date of issue of completion certificate. Provided that, in the absence of local law, the conveyance deed in favour of the Allottee shall be carried out by the Promoter within 3 (three months) from the date of issuance of the completion certificate. The Promoter agrees and undertakes to indemnify the Allottee in case of failure of fulfilment of any of the provisions, formalities, documentation on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereofPromoter. The Allottee under any circumstances agrees to pay the maintenance charges as determined by the Promoter/ Maintenance Society/Maintenance Agency, as the case maybe, after the issuance of completion certificate for the Project. The Promoter shall not stop or take any steps to stop such construction on handover the ground completion certificate of nuisancethe Unit, disturbancesas the case may be, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision Allottee at the time of maintaining conveyance of the infrastructure and common amenities including garden and roads, if anysame.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Agreement for Sale
Construction of the Project. 6.1 The Allottee has seen (a) Before the proposed layout planCompliance Date, specifications, amenities and facilities the Developer shall successfully demonstrate it’s capability to complete the construction of 2 blocks comprising minimum 32 Dwelling Units on pilot basis to the satisfaction of DMA on the Project site provided by DMA. Subsequent to successful demonstration of the Unit and accepted pilot Works, within 30 (thirty) days of approval by DMA the payment plan Developer shall commence Works in other Project Site(s) and the specificationsDeveloper shall adhere to Project Implementation Schedule as provided in the Schedule 5.
(b) The Developer shall construct, amenities install and facilities (annexed along with this Agreement) which has been approved by establish the competent authorityProject, as represented by including the Promoter. The Promoter shall develop the Project basic and detailed engineering, design, completion, testing and commissioning in accordance with the said layout plansprovisions of this Agreement, including the Approved DPR, Project Implementation Schedule, the Scope of Work, the Developmental Standards, Applicable Laws, terms of Clearances and Good Industry Practice and after obtaining, as applicable, the sanction to the building plan, with necessary designs, plans and specifications from the proper municipal or other authority, at its own expenses.
(c) The Developer shall arrange the power, water and other utilities as may be required for execution and implementation of the Construction Works at its cost and expense.
(d) The Developer shall be responsible for the design and programming of the Construction Works and for the accuracy and completeness of the information used for such design and programming in accordance with the requirements established in the Developmental Standards. The Developer shall be responsible for any discrepancies, errors or omissions in the data, specifications, amenities drawings and facilities. Subject other technical documents that it has prepared or procured, whether the same have been approved, deemed to be approved or not approved by DMA or any Competent Authority.
(e) The Developer shall ensure that all contract(s) and arrangement(s) entered into in relation to the terms Construction Works shall (to the extent such provisions can be reasonably obtained in the market concerned) include provisions whereby the relevant Subcontractor warrants that each part of such works carried out there under shall be fit for its purpose and free from all defects in design, workmanship and materials.
(f) The Developer shall ensure that the Works shall comprise only materials, goods and workmanship which are of sound quality and which have been manufactured and prepared in accordance or are in conformity, as the case may be, with the Developmental Standards and Good Industry Practice and that each part of the Works shall be fit for the purpose for which it is required as stated in or as may be reasonably inferred from the such plans.
(g) The Developer shall ensure that in fulfilling its obligations hereunder it shall procure, as required, the appropriate proprietary rights, licenses, agreements and permissions for the designs, software, materials, methods, processes and systems used or incorporated into the Works undertaken by it and indemnify and keep indemnified DMA and its advisors and consultants against all costs, damages, liabilities or consequences arising out of any breach by the Developer in this Agreementbehalf.
(h) In the execution of the Construction Works, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities Developer shall procure coordination amongst and shall also strictly abide by the bye -‐ laws, FAR and provisions prescribed by the Madhya Pradesh Law and shall not have an option to make any variation/alteration/modification in such plans, other than avoidance of conflicts in the manner provided working of the Subcontractors, including all types of suppliers, agents and consultants. The Developer shall monitor and supervise the activities of the Subcontractors, retained by it to fulfill its obligations hereunder, under the Actterms of their respective agreements.
(i) The Developer shall carry out or cause to be carried out the Construction Works with the skill, care and breach diligence to be expected of appropriately qualified and experienced professional designers, engineers and contractors with experience of work similar in scope and nature to that required under this term by Agreement. The Developer shall design, engineer and execute the Promoter shall constitute a material breach construction and implementation of the AgreementWorks using the best design and engineering principles and practices.
6.2 It is made clear by (j) The Developer shall at its responsibility arrange for materials such as bricks, cement, steel, aggregates, soil, bituminous and asphalt materials, chemicals, consumables and any other materials used in undertaking the Promoter Works, as well as equipment, machinery, tools and the Allottee agrees that the Unit ancillary materials such as shuttering and scaffolding, bearings, joint fillers and similar materials. The Developer shall be treated as a single indivisible unit make arrangements for transport, loading and unloading, stacking and proper storage (including making sheds) for all purposes.
6.3 materials and equipment. The PROMOTERS Independent Engineer shall have the right to grant right inspect and check the quality and quantity of access/way and/or the materials and equipment and their storage in compliance with the terms of this Agreement.
(k) The Developer shall be solely and exclusively responsible for the recruitment, transportation, accommodation, catering, payment of the salaries, wages and other easement rights payments and costs incidental thereto, health, hygiene, safety etc. and all taxes, charges, levies, duties payable under Applicable Laws arising from the said respective terms and conditions of employment of all labor and personnel employed on or connected with the Project, Works or the Site under or through whatever legal relationship.
(l) The Developer shall ensure that at all times during the Construction Period for Project, a resident general manager, notified in writing and acceptable to DMA, having appropriate experience in like works shall remain in residence at Project Site, and take charge of and monitor, oversee and ensure the construction of the Works, as notified in writing to DMA (the “Developer’s Representative”). The Developer’s Representative may only be changed after notification to DMA of such change and appointment of a replacement in such representative’s place with the prior written approval of DMA.
(m) During the Construction Period for Project, the Developer shall organise on the Site and be responsible for support activities including safety precautions, fire protection, security, transportation, delivery of goods, materials, plant and equipment, control of pollution, maintenance of competent personnel and labour and industrial relations and general site services including, without limitation, access to and on the Site and shall be liable for the safe storage and handling of and removal from the Site of all toxic and hazardous materials and substances.
(n) The Developer shall make its own arrangements at its cost for quarrying, if necessary, and observe and fulfill the environmental and other requirements under the Applicable Laws and Clearances. The Developer shall also remove and shift the utilities and structures at, on or under the Site at its cost and expense.
(o) The Developer shall confine its activities to the Site and to any additional areas arranged by the Developer at its cost and not encroach upon, damage or degrade adjacent land and be liable for development all costs and consequences for its failure to do so.
(p) The Developer shall promptly remove from the Site in accordance with Good Industry Practice all surplus construction machinery and materials, waste materials (including, without limitation, hazardous materials, all types of any property adjacent solid and liquid waste), rubbish and other debris, and keep the Site in a neat and clean condition and in conformity with the Applicable Laws and Clearances.
(q) The Developer shall within 30 (thirty) days of Construction Completion for the site, clear the Site of all temporary structures, labour camps, site offices, utility lines and surplus or unused materials, plant, equipment or tools, etc.
(r) The Developer shall give priority to this safety in its construction and planning activities in order to protect life, health, property and permit to use environment.
(s) For the common facilities purposes of determining that the construction of the townshipProject is being undertaken in accordance with Developmental Standards and Good Industry Practice and for quality assurance, the Developer shall carry out such tests at such time and frequency and in such manner as may be required by DMA or as may be necessary in accordance with Good Industry Practice. The PROMOTERS and/or its nominees Developer shall with due diligence carry out all such tests in all/any such event as mentioned above be also entitled to connect/ use accordance with the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ instructions and other common amenities under the supervision of the projectIndependent Engineer. The Allottee and the member of the society/COMPANY Developer shall also admit promptly carry out such new intending Allottees remedial measures as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard necessary to cure the provision of maintaining the infrastructure and common amenities including garden and roadsdefects or deficiencies, if any, indicated in such test results. The Developer shall promptly report to the Independent Engineer the remedial measures taken by it to cure the defects/deficiencies if any indicated in the test results.
iv(t) If the Independent Engineer reasonably determines that the rate of progress of the construction of the Project is such that the Construction Completion is not feasible on or before the Scheduled Construction Completion Date, it shall so notify the Developer. To decide from time Thereupon, the Developer shall within 15 (fifteen) days thereof notify the Independent Engineer about the steps it proposes to time take to what extent expedite progress and the township will be transferred to the respective body formedperiod within which it shall achieve Construction Completion.
v. To decide from (u) The Developer shall execute the Construction Works in accordance with the Project Implementation Schedule and achieve Construction Completion by the Scheduled Construction Completion Date, unless such time to time when and what type of documents of transfer if required should be executedhas been extended in accordance with provisions hereof.
Appears in 1 contract
Sources: Development Agreement
Construction of the Project. 6.1 The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Unit Plot and accepted the payment plan and the specifications, amenities and facilities (annexed along with this Agreement) which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye -‐ - laws, FAR and provisions prescribed by the Madhya Pradesh Law and shall not have an option to make any variation/alteration/variation/ alteration/ modification in such plans, other than in the th e manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of the Agreement.
6.2 It is made clear by the Promoter and the Allottee agrees that the Unit Plot shall be treated as a single indivisible unit for all purposespurp oses.
6.3 The PROMOTERS shall have the right to grant right of access/access/ way and/or and/ or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the township. The PROMOTERS and/or its and/ or i ts nominees shall in all/all/ any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the project. The Allottee and the t he member of the society/society/ COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/separate/ combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies bo dies of Allottee/Allottee/ s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be b e transferred and/or conveyed/assigned/and/ or conveyed/ assigned/ leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Agreement for Sale
Construction of the Project. 6.1 The Allottee has seen Borrower agrees that, utilizing the proposed layout plan, specifications, amenities and facilities proceeds of the Unit Bonds loaned pursuant to Section 4.01 hereof and accepted such other funds as may be necessary, it has or will Construct, or has or will cause the payment plan Construction of, the Project, and has or will acquire, rehabilitate, equip, construct and install all other facilities and real and personal property necessary for the specifications, amenities and facilities (annexed along with this Agreement) which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop operation of the Project as described in the Borrower's application to the Issuer for assistance in financing the Project, substantially in accordance with the said layout plansplans and specifications prepared therefor by the Borrower, specificationsincluding any and all supplements, amenities amendments, additions or deletions thereto or therefrom, it being understood that the approval of the Issuer shall not be required for changes in such plans and facilitiesspecifications which do not alter the purpose or description of the Project as set forth in Exhibit A hereto. Subject The Borrower further agrees to proceed with due diligence to complete the Project within three years from the date hereof. In the event that the Borrower desires to modify the Project in a manner which alters the purpose or description of the Project as set forth in Exhibit A hereto, such modification shall be undertaken only upon an amendment to Exhibit A which shall accurately set forth the description and purpose of the Project as so modified and which amendment to Exhibit A shall become effective (without the written consent of the Registered Owners) upon receipt by the Issuer and the Trustee of:
(a) a certificate of the Authorized Representative of the Borrower describing in detail the proposed changes and stating that they will not have the effect of disqualifying the Project as a facility that may be financed pursuant to the terms Act nor reduce the employment benefits described in this Agreement, the Promoter undertakes Borrower's application to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by Issuer for assistance in financing the bye -‐ laws, FAR and provisions prescribed by Project;
(b) an Opinion of Bond Counsel that the Madhya Pradesh Law and shall proposed changes to the Project will not have an option the effect of disqualifying the Project as a facility that may be financed pursuant to make any variation/alteration/modification in such plans, other than in the manner provided under Act or cause interest on the Act, and breach of this term by the Promoter shall constitute Bonds not to be Tax-exempt;
(c) a material breach copy of the Agreement.proposed form of amended or supplemented Exhibit A hereto; and
6.2 It is made clear by (d) the Promoter written approval of the Bank and the Allottee agrees that the Unit shall be treated as a single indivisible unit for all purposesTrustee.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the township. The PROMOTERS and/or its nominees shall in all/any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the project. The Allottee and the member of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Construction of the Project. 6.1 The Allottee has seen Borrower agrees that, utilizing the proposed layout plan, specifications, amenities and facilities proceeds of the Unit Bonds loaned pursuant to Section 4.01 hereof and accepted such other funds as may be necessary, it has or will Construct, or has or will cause the payment plan Construction of, the Project, and has or will acquire, rehabilitate, equip, construct and install all other facilities and real and personal property necessary for the specifications, amenities and facilities (annexed along with this Agreement) which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop operation of the Project as described in the Borrower's application to the Authority for assistance in financing the Project, substantially in accordance with the said layout plansplans and specifications prepared therefor by the Borrower, specificationsincluding any and all supplements, amenities amendments, additions or deletions thereto or therefrom, it being understood that the approval of the Authority shall not be required for changes in such plans and facilitiesspecifications which do not alter the purpose or description of the Project as set forth in Exhibit A hereto. Subject The Borrower further agrees to proceed with due diligence to complete the Project within three years from the date hereof. In the event that the Borrower desires to modify the Project in a manner which alters the purpose or description of the Project as set forth in Exhibit A hereto, such modification shall be undertaken only upon an amendment to Exhibit A which shall accurately set forth the description and purpose of the Project as so modified and which amendment to Exhibit A shall become effective (without the written consent of the Registered Owners) upon receipt by the Authority and the Trustee of:
(a) a certificate of the Authorized Representative of the Borrower describing in detail the proposed changes and stating that they will not have the effect of disqualifying the Project as a facility that may be financed pursuant to the terms Act nor reduce the employment benefits described in this Agreement, the Promoter undertakes Borrower's application to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by Authority for assistance in financing the bye -‐ laws, FAR and provisions prescribed by Project;
(b) an Opinion of Bond Counsel that the Madhya Pradesh Law and shall proposed changes to the Project will not have an option the effect of disqualifying the Project as a facility that may be financed pursuant to make any variation/alteration/modification in such plans, other than in the manner provided under Act or cause interest on the Act, and breach of this term by the Promoter shall constitute Bonds not to be Tax-exempt;
(c) a material breach copy of the Agreement.proposed form of amended or supplemented Exhibit A hereto; and
6.2 It is made clear by (d) the Promoter written approval of the Bank and the Allottee agrees that the Unit shall be treated as a single indivisible unit for all purposesTrustee.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the township. The PROMOTERS and/or its nominees shall in all/any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the project. The Allottee and the member of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Loan Agreement (Provena Foods Inc)
Construction of the Project. 6.1 APARTMENT (in furtherance to the Clause-6 of the instant Agreement) :
a} The Allottee has seen undertake not to do or cause to be done any act, deed or thing by virtue of which the proposed layout plan, specifications, amenities and facilities construction of the Unit and accepted said building or the payment plan and Apartment & allied or any other Units to be constructed on the specificationsSaid Land are either hampered, amenities and facilities (annexed along with this Agreement) which has been approved by the competent authorityobstructed, as represented by the Promoter. delayed or stopped;
b} The Promoter shall develop the Project in accordance with the said layout plans, specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye -‐ laws, FAR and provisions prescribed by the Madhya Pradesh Law and shall not have an option to make any variation/alteration/permissible modification in such plans, other than or alteration in the manner provided under the Act, and breach of this term Apartment may be done by the Promoter shall constitute a material breach subject to the payment of charges as stated above well in advance;
c} In all matters relating to construction, measurement and specification, decision of the Agreement.
6.2 It is made clear Architect shall be final and binding on both the parties; d} Natural materials like marble, granite, wood, sandstone etc. contain veins with inherent structural differences, as a result of which colour and marking caused by the mineral complex composition, cracks, inherent impurities are likely to occur, while the Promoter shall take all and the Allottee agrees that the Unit shall be treated as a single indivisible unit for all purposes.
6.3 The PROMOTERS shall have the right every care to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property ensure construction and permit to use the common facilities completion of the townshipApartment & allied as per specifications mentioned herein, the Promoter, shall not be held responsible or accountable for cracks, discoloring or deterioration in the quality of such natural materials; e} Sand, Bricks, water, etc. The PROMOTERS and/or used for construction work are natural materials containing various inherent impurities in its nominees shall mineral composition. Any defects by these minerals resulting in all/any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore salt ▇▇▇▇▇ action, hairline cracks or shrinkage cracks (due to thermal expansion and other common amenities contraction) on the plastered surface resulting into its deterioration but the Promoter shall repair the same if the same is pointed out by the Allottee at the appropriate stage of construction by the Allottee and such stage crosses then the Promoter, shall not be liable for making any change or improvements; C] POSSESSION OF THE APARTMENT (in furtherance to the Clause-7 of the project. instant Agreement) :
a} Notwithstanding whether the Purchaser takes actual physical possession or not, the Date of Possession shall always be expiry of 7 days from the date of notice issued by the Promoter to the Purchaser for delivery of possession and it is expressly agreed by the Purchaser that from the date of possession the Purchaser shall be bound to pay all charges payable for the Apartment & allied including maintenance charges and municipal rates and taxes irrespective of whether the Allottee take possession of the Apartment & allied or not;
b} In case the Allottee request the Promoter in writing to deliver give possession the said Apartment for furniture, fixture and interior work purposes, then the same may be considered by the Promoter subject to the observation of the following by the Allottee :-
i\ The Allottee pay the Electricity Charges for the electricity consumed to ascertained by way of installation of a Sub-meter for which all expenses shall be borne and paid by the member Allottee;
ii\ Pay such amounts to the Promoter as mentioned in the relevant chart under clause 1.2 of the society/COMPANY shall also admit such new intending Allottees as its members.these presents;
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. iii\ The Allottee under any circumstances shall not stop make any structural change in the Apartment and allied;
iv\ The Allottee shall not do any act, deed or take any steps to stop such construction on thing which may be interpreted as causing deviation from the ground of nuisance, disturbancesplans sanctioned by KMC, or for other reasons which the Promoter may be served with any kind of notice from KMC;
v\ The Allottee shall keep the Promoter saved, harmless and indemnified from all claims that may arise because of any nature whatsoever.activity by the Allottee during such period; c} The Cancellation of Agreement in pursuance of clause 7.1, 7.5, 7.6 and 9.2 above shall be treated as if the cancellation is not for any default of the Promoter, all the consequences as given in this agreement shall follow accordingly;
6.5 NOTWITHSTANDING any other provisions of this allotment d} Notwithstanding anything contained in these presents or elsewhere the PROMOTERS Allottee shall be entitled at its sole to enforce their right of cancellation / withdraw from the Project as contained in clause 7.1, 7.5, 7.6 and absolute discretion9.2 above only upon performing and fulfilling the following conditions or otherwise the cancellation proposal shall be treated as void ab-initio :
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium - i\ Serving 6 months advance notice in writing in advance about intention to cancel the agreement and/or for withdrawal of unit or the Project; ii\ Permitting the Promoter to deal with any other body buyer for the Apartment and allied and enter into any agreement or bodies of Allottee/s arrangement with such new buyer within the notice period; iii\ To give cogent reason for such cancellation, as to why the same shall be formed accepted by the Promoter in the event Promoter within aforesaid 6 months could not find any buyer at price same or more than the price at which the Allottee has agreed to purchase the Apartment and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.allied;
Appears in 1 contract
Sources: Sale Agreement
Construction of the Project. 6.1 The Allottee has seen the proposed layout planOwner hereby represents, specifications, amenities and facilities as of the Unit date hereof, and accepted covenants, warrants and agrees as follows:
(a) The Owner has incurred, or will incur within six (6) months after the Closing Date, a substantial binding obligation to a third party to commence the construction of the Project, pursuant to which the Owner is or will be obligated to expend at least the lesser of (i) five (5) percent of the aggregate principal amount of the Note or (ii) $100,000 for the payment plan of Qualified Project Costs.
(b) The Owner’s reasonable expectations respecting the total cost of construction of the Project and the specifications, amenities and facilities disbursement of Note proceeds are accurately set forth in the Tax Certificate delivered to the City on the Closing Date.
(annexed along c) The Owner will proceed with this Agreement) which has been approved by due diligence to complete the competent authority, as represented by the Promoter. The Promoter shall develop construction of the Project and expects to expend the maximum authorized amount of the Borrower Loan for Project Costs within three (3) years of the Closing Date.
(d) [reserved]
(e) Within thirty (30) days of the Completion Date, the Owner will submit to the City and the Funding Lender a duly executed and completed Completion Certificate.
(f) Money on deposit in accordance any fund or account in connection with the said layout plansNote, specificationswhether or not such money was derived from other sources, amenities shall not be used by or under the direction of the Owner in a manner which would cause the Note to be an “arbitrage bond” within the meaning of Section 148 of the Code, and facilities. Subject the Owner specifically agrees that the investment of money in any such fund shall be restricted as may be necessary to prevent the Note from being an “arbitrage bond” under the Code.
(g) The Owner (and any person related to it within the meaning of Section 147(a)(2) of the Code) will not take or omit to take any action if such action or omission would in any way cause the proceeds from the sale of the Note to be applied in a manner contrary to the terms in this requirements of the Funding Loan Agreement, the Promoter undertakes to strictly abide by such plans approved Borrower Loan Agreement or this Regulatory Agreement.
(h) On or concurrently with the final draw by the competent Authorities Owner of amounts representing proceeds of the Note, the expenditure of such draw, when added to all previous disbursements representing proceeds of the Note, will result in not less than ninety-seven percent (97%) of all disbursements of the proceeds of the Note having been used to pay or reimburse the Owner for Qualified Project Costs and shall also strictly abide less than twenty-five (25%) percent of all disbursements having been used to pay for the acquisition of land or any interest therein.
(i) The statements made in the various certificates delivered by the bye -‐ laws, FAR Owner to the City on the Closing Date are true and provisions prescribed correct.
(j) All of the amounts received by the Madhya Pradesh Law Owner from the proceeds of the Note and earnings from the investment of such proceeds will be used to pay Project Costs; and no more than two percent (2%) of the proceeds of the Note shall be used to pay issuance costs of the Note, within the meaning of Section 147(g) of the Code.
(k) The Owner will not have an option knowingly take or permit, or omit to make take or cause to be taken, as is appropriate, any variation/alteration/modification in action that would adversely affect the Tax-Exempt status of the interest on the Note, and, if it should take or permit, or omit to take or cause to be taken, any such plansaction, other than it will take all lawful actions necessary to rescind or correct such actions or omissions promptly upon obtaining knowledge thereof.
(l) The Owner will take such action or actions as may be necessary, in the manner provided under written opinion of Tax Counsel to the City, to comply fully with the Act, the Code and breach of this term all applicable rules, rulings, policies, procedures, Regulations or other official statements promulgated, proposed or made by the Promoter shall constitute a material breach Department of the AgreementTreasury or the Internal Revenue Service to the extent necessary to maintain the Tax-Exempt status of the interest on the Note.
6.2 It (m) No portion of the proceeds of the Note shall be used to provide any airplane, skybox or other private luxury box, health club facility, facility primarily used for gambling, or store the principal business of which is made clear the sale of alcoholic beverages for consumption off premises. No portion of the proceeds of the Note shall be used for an office unless the office is located on the premises of the facilities constituting the Project and unless not more than a de minimis amount of the functions to be performed of such office is not related to the day-to-day operations of the Project.
(n) In accordance with Section 147(b) of the Code, the average maturity of the Note does not exceed one hundred twenty percent (120%) of the average reasonably expected economic life of the facilities being financed by the Promoter and the Allottee agrees that the Unit shall be treated as a single indivisible unit for all purposesNote.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the township. The PROMOTERS and/or its nominees shall in all/any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the project. The Allottee and the member of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Regulatory Agreement and Declaration of Restrictive Covenants
Construction of the Project. 6.1 The Allottee has seen examined the proposed layout plan, specifications, amenities and facilities of the Unit unit as specified in Schedule A and accepted the payment plan and the specifications, amenities and facilities (annexed along with this Agreement) which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities government authorities and shall also strictly abide by the bye -‐ - laws, FAR and provisions as may be prescribed by the Madhya Pradesh Law and shall not have an option to make any variation/alteration/modification in such plans, other than in the manner provided under the Act, and breach of this term by the applicable law. The Promoter shall constitute a material breach of the Agreement.
6.2 It is made clear by the Promoter and the Allottee agrees that the Unit shall be treated as a single indivisible unit for all purposes.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the township. The PROMOTERS Promoter and/or its nominees shall in all/any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the project. The Allottee and the member of the society/COMPANY Company shall also admit such new intending Allottees as its members.
6.4 . AT its sole and absolute discretion, the PROMOTERS Promoter may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee agrees that under any circumstances it shall not object or stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 . NOTWITHSTANDING any other provisions of this allotment the PROMOTERS Promoter shall be entitled at its sole and absolute discretion:
i. : To form a separate/combined society, Company, limited ‘PROMOTERS’LLP, condominium of unit or any other body or bodies of Allottee/s Allottees to be formed and constituted.
ii. i) To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. ii) To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roadsamenities, if any.
iv. iii) To decide from time to time to what extent the township project will be transferred to the respective body formed.
v. iv) To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Sale Agreement
Construction of the Project. 6.1 8.1. The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Unit Apartment and accepted the floor plan, payment plan and the specifications, amenities and facilities ([annexed along with this Agreement) ] which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject , subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye -‐ bye-laws, FAR and density norms and provisions prescribed by the Madhya Pradesh Law laws of West Bengal and shall not have an option to make any variation/alterationvariation /alteration/modification in such plans, other than in the manner provided under provided
8.2. No structural changes/ modifications are permitted. The Allottee shall not do or cause to be done any such things or works, which brings about structural changes/ modification in the Act, and breach Apartment (s).
8.3. The work of this term by the Promoter shall constitute a material breach construction of the Agreement.
6.2 It is made clear by the Promoter and the Allottee agrees that the Unit project shall be treated as a single indivisible unit for taken up in various phases and all purposes.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities and/or amenities will be provided progressively. The facilities/ amenities which are common for the entire project will be provided only upon completion of the townshipentire project.
8.4. The PROMOTERS and/or its nominees Internal electrical wiring for the Apartment(s) shall in all/any such event as mentioned above be also entitled provided by the Promoter, however the Allottee shall have to connect/ use apply to the electrical lines, sanitary system, drainage connections, water concerned Authority for obtaining supply systems including Bore ▇▇▇▇▇ of power and other common amenities of the projecta separate meter for their allotted Apartment(s) . The Allottee and Security Deposit and/or the member of the society/COMPANY shall also admit charges to be paid for such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS electricity shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner paid by the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard Allottee to the provision of maintaining the infrastructure and common amenities including garden and roads, if anyconcerned Authority.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Sale Agreement
Construction of the Project. 6.1 The Allottee has seen Borrower agrees that, utilizing the proposed layout plan, specifications, amenities and facilities proceeds of the Unit Bonds loaned pursuant to Section 4.01 hereof and accepted such other funds as may be necessary, it has or will Construct, or has or will cause the payment plan Construction of, the Project, and has or will acquire, rehabilitate, equip, construct and install all other facilities and real and personal property necessary for the specifications, amenities and facilities (annexed along with this Agreement) which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop operation of the Project as described in the Borrower’s application to the Issuer for assistance in financing the Project, substantially in accordance with the said layout plansplans and specifications prepared therefor by the Borrower, specificationsincluding any and all supplements, amenities amendments, additions or deletions thereto or therefrom, it being understood that the approval of the Issuer shall not be required for changes in such plans and facilitiesspecifications which do not alter the purpose or description of the Project as set forth in Exhibit A hereto. Subject The Borrower further agrees to proceed with due diligence to complete the Project within three years from the date hereof. In the event that the Borrower desires to modify the Project in a manner which alters the purpose or description of the Project as set forth in Exhibit A hereto, such modification shall be undertaken only upon an amendment to Exhibit A which shall accurately set forth the description and purpose of the Project as so modified and which amendment to Exhibit A shall become effective (without the written consent of the Registered Owners) upon receipt by the Issuer and the Trustee of:
(a) a certificate of the Authorized Representative of the Borrower describing in detail the proposed changes and stating that they will not have the effect of disqualifying the Project as a facility that may be financed pursuant to the terms Act nor reduce the employment benefits described in this Agreement, the Promoter undertakes Borrower’s application to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by Issuer for assistance in financing the bye -‐ laws, FAR and provisions prescribed by Project;
(b) an Opinion of Bond Counsel that the Madhya Pradesh Law and shall proposed changes to the Project will not have an option the effect of disqualifying the Project as a facility that may be financed pursuant to make any variation/alteration/modification in such plans, other than in the manner provided under Act or cause interest on the Act, and breach of this term by the Promoter shall constitute Bonds not to be Tax-exempt;
(c) a material breach copy of the Agreement.proposed form of amended or supplemented Exhibit A hereto; and
6.2 It is made clear by (d) the Promoter written approval of the Bank and the Allottee agrees that the Unit shall be treated as a single indivisible unit for all purposesTrustee.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the township. The PROMOTERS and/or its nominees shall in all/any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the project. The Allottee and the member of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Loan Agreement (RBC Bearings INC)
Construction of the Project. 6.1 The Promoter have decided that the aggregate Ground Coverage/ FAR sanctioned for the entire Complex need not be uniformly utilized in all the different projects/phases and the Promoter may vary the utilization of the sanctioned Ground Coverage /FAR from phase to phase without exceeding the total sanctioned FAR for the entire Complex.
6.2 The Promoter has disclosed as proposed above his intention to use more FAR, if permissible to be utilized by him on the Project Land and/or Phase I and Allottee has agreed to acquire the Said Office Unit based on the proposed construction and transfer of Office units to be carried out by the Promoter by utilizing the additional FAR/construction, as permitted or allowed to stand upon payment of fees, penalty, etcby the appropriate authority and on the
6.3 The Allottee has seen the proposed layout plan, and has independently made himself aware about the specifications, amenities and facilities of the Unit and accepted the payment plan floor plan, Payment Plan and the specifications, amenities and facilities (annexed along with this Agreement) which has been approved by facilities, and the competent authorityAllottee is aware of the limitations, as represented by usage policies and maintenance of the Promoterinstalled items, fixtures and fittings. The Promoter shall develop the Project Project/Phase in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye -‐ bye-laws, FAR and provisions prescribed by the Madhya Pradesh Law and shall not have an option to make any variation/alteration/variation / alteration / modification in such plansplans except rise in the floors , other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of the Agreementherein.
6.2 It is made clear by the Promoter and the 6.4 The Allottee agrees that the Promoter is entitled to and would be well within their right to undertake any further and/or additional construction in accordance with the plan which may be sanctioned by the concerned authorities mentioned in Clause 6.1 hereinabove without affecting the Office Unit shall be treated as a single indivisible unit for all purposesof the allottee.
6.3 6.5 The PROMOTERS shall have Allottee acknowledges that in the right to grant right event of access/way and/or other easement rights from such changes being undertaken
6.6 The Promoter has annexed herewith the said land authenticated Layout Plan for development the construction of any property adjacent to this property Buildings and permit to use the common facilities Common Areas of the township. project and so far as the Allottee’s Office unit is concerned undertakes to ultimately abide by the Unit Lay Out Plans as approved by the Local Authority.
6.7 The PROMOTERS and/or its nominees shall in all/any such event area as mentioned above be also entitled to connect/ use in the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ floor plan and/or otherwise published is tentative and other common amenities of approximate and except the project. The Allottee and the member of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part area of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole Unit and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roadscar parking space, if any.
iv. To decide from time , hereby agreed to time to what extent be allotted, the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.Owner/Vendor and/or the
Appears in 1 contract
Sources: Sub Lease Agreement
Construction of the Project. 6.1 8.1. The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Unit Apartment and accepted the floor plan, payment plan and the specifications, amenities and facilities ([annexed along with this Agreement) ] which has been approved by the competent authority, as represented by the PromoterPromoter/ Developer. The Promoter Promoter/ Developer shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject , subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye -‐ laws, FAR and provisions prescribed by the Madhya Pradesh Law and Promoter/ Developer
8.2. The Allottee /Purchaser shall not have an option in any manner cause obstruction and/or hindrance to make the construction and the development of the Project. If due to the default of the Allottee /Purchaser the DEVELOPER is restrained from carrying out the construction/ development or is restrained from transferring or disposing of the Apartment(s)/ Unit(s), then save as except the other rights of the DEVELOPER, the Allottee /Purchaser shall be liable to compensate and indemnify the DEVELOPER for all such loss, damage, cost claims etc. that may be suffer or incurred.
8.3. No structural changes/ modifications are permitted. The Allottee /Purchaser shall not do or cause to be done any variation/alteration/such things or works, which brings about structural changes/ modification in such plans, other than in the manner provided under the Act, and breach Unit(s).
8.4. The work of this term by the Promoter shall constitute a material breach construction of the Agreement.
6.2 It is made clear by the Promoter and the Allottee agrees that the Unit project shall be treated as a single indivisible unit for taken up in various phases and all purposes.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities and/or amenities will be provided progressively. The facilities/ amenities which are common for the entire project will be provided only upon completion of the townshipentire project.
8.5. The PROMOTERS Internal electrical wiring for the units shall be provided by the DEVELOPER, however the Allottee /Purchaser shall have to apply to the concerned Authority for obtaining supply of power and a separate meter for their allotted unit. The Security Deposit and/or its nominees the charges to be paid for such electricity shall in all/any such event as mentioned above be also entitled paid by the Allottee /Purchaser to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities concerned Authority.
8.6. The Apartment is provided by the Promoter/ Developer on semi-finished condition. The details of the project. The Allottee and the member of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretionfixtures, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS shall be entitled at its sole and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s fittings amenities to be formed provided by the Promoter/ Schedule- D and constitutedSchedule-E hereto.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard to the provision of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Sources: Sub Lease Agreement
Construction of the Project. 6.1 The Allottee has seen (a) In order to receive the proposed layout planfinancial benefits provided for in this Agreement, specifications, amenities and facilities Thorntons must submit applicable permit applications for the construction of the Unit Redevelopment Project no later than one year after the approval of the Preliminary/Final Plan and accepted complete the payment plan and the specifications, amenities and facilities (annexed along with this Agreement) which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project same in accordance with the said layout plansland use approvals described in Section 3.02 and all applicable codes, specificationsordinances, amenities rules, and facilities. Subject to regulations of the terms City, and all required public improvements, if any, shall be constructed and installed in this Agreement, the Promoter undertakes to strictly abide by such accordance with engineering plans approved by the competent Authorities and shall also strictly abide by the bye -‐ laws, FAR and provisions prescribed by the Madhya Pradesh Law and shall not have an option to make any variation/alteration/modification in such plans, other than in the manner provided under the Act, and breach of this term by the Promoter shall constitute a material breach of the Agreement.
6.2 It is made clear by the Promoter and the Allottee agrees that the Unit shall be treated as a single indivisible unit for all purposes.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the townshipCity. The PROMOTERS and/or its nominees shall in all/any such event as mentioned above be also entitled to connect/ use the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇▇▇▇▇ shall not knowingly cause or permit the existence of any violation of City ordinances, including but not limited to the Building Code, Zoning Ordinance, Fire Code and all rules and regulations thereunder on any portion of the Property which it owns or controls; provided, however, that Thorntons shall be deemed to have satisfied this condition in the event it shall have remedied any noncompliance with the foregoing codes, ordinances, rules and regulations within the sixty (60) day cure period following its receipt of notice of noncompliance as set forth in Section 7.04 hereof.
(b) Thorntons shall secure and maintain or cause its subcontractors to secure and maintain all other necessary approvals and permits, as and when necessary, to undertake the redevelopment of the Subject Property and all such work related to the redevelopment of the Subject Property shall comply with all applicable City ordinances and codes and laws and regulations of other government bodies. Thorntons shall not cause or permit any deviation from City-approved engineering and construction plans and specifications without the City’s prior consent or as may be otherwise permitted by zoning ordinances. ▇▇▇▇▇▇▇▇▇ shall remain current on all fees, costs, and other common amenities expenses due to the City during the term of this Agreement.
(c) ▇▇▇▇▇▇▇▇▇ acknowledges that limited environmental clean-up or remediation of the projectSubject Property may be required, and that ▇▇▇▇▇▇▇▇ shall be solely responsible for any clean up or remediation that is required by the IEPA or other regulatory agency.
(d) ▇▇▇▇▇▇▇▇▇ shall not enter into any transaction that would materially and adversely affect its ability to perform its obligations hereunder or to repay any material liabilities or perform any material obligations of Thorntons to any other person or entity. The Allottee Developer shall immediately notify the City of any and all events or actions which may materially affect ▇▇▇▇▇▇▇▇▇’ ability to carry on its business operations or perform its obligations under this Agreement or any other documents and agreements.
(e) Thorntons for itself and its successors and assigns agrees that in the member construction of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or improvements on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances Subject Property provided for in this Agreement ▇▇▇▇▇▇▇▇▇ shall not stop discriminate against any employee or take any steps to stop such construction on the ground applicant for employment because of nuisancerace, disturbancescolor, religion, sex, or national origin. ▇▇▇▇▇▇▇▇▇ shall take affirmative action to require that applicants are employed and that employees are treated during employment, without regard to their race, creed, color, religion, sex, or national origin. ▇▇▇▇▇▇▇▇▇ agrees to post in conspicuous places, available to employees and applicants for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other employment, notices, which may be provided by the City, setting forth the provisions of this allotment nondiscrimination clause.
(f) Thorntons shall exercise its own due diligence to determine whether or not the PROMOTERS Illinois Prevailing Wage Act (820 ILCS 130/0.01, et seq.) is applicable to the Redevelopment Project, or components thereof. To the extent applicable, Thorntons shall comply with the Illinois Prevailing Wage Act (820 ILCS 130/0.01 et seq.) such that not less than the prevailing rate of wages as established by Department of Labor applicable in Will County or determined by the court on review shall be entitled at its sole paid to all laborers, workers and absolute discretion:
i. To form a separate/combined society, Company, limited ‘PROMOTERS’, condominium of unit mechanics performing work under this Agreement or any other body construction contracts entered into by ▇▇▇▇▇▇▇▇▇ in connection with the Redevelopment Project. Thorntons shall include in bids or bodies of Allottee/s requests for proposals to be formed and constituted.
iicontractors the cost for the current prevailing wage. To decide the extent that there are any violations of the Prevailing Wage Act and determine how any demands are made upon the City, ▇▇▇▇▇▇▇▇▇ shall be responsible for indemnifying and in what manner holding the infrastructure including City and all City elected or appointed officials officers, employees, agents, consultants, and attorneys (collectively the common utility areas such as gardens“Indemnified Parties”), open spaces, roads, STP if harmless from any plants, Power transmission equipment’s, lights etc. and all claims that may be transferred asserted against the Indemnified Parties or one or more of them, in connection with the applicability, determination, and/or conveyed/assigned/leased.
iiipayments made under the Illinois Prevailing Wage Act, the Illinois Procurement Code, and/or any similar State or Federal law or regulation and all costs incurred, directly or indirectly, by the City in responding to and complying with demands made by the Department of Labor, or an aggrieved employee. To provide for In addition, ▇▇▇▇▇▇▇▇▇ agrees to indemnify and incorporate covenant, restriction hold harmless the City from any claim and obligations with regard costs asserted against the City arising from the Project and/or this Agreement or any challenge to the provision eligibility of maintaining the infrastructure and common amenities including garden and roads, if any.
iv. To decide from time project costs reimbursed to time to what extent the township will be transferred ▇▇▇▇▇▇▇▇▇ hereunder except to the respective body formedextent such claim and costs arise from the willful and wanton acts or omissions of the willful and wanton acts or omissions of the City Parties (as such term is hereinafter defined).
v. To decide from time to time when and what type of documents of transfer if required should be executed.
Appears in 1 contract
Construction of the Project. 6.1 8.1. The Allottee has seen the proposed layout plan, specifications, amenities and facilities of the Unit Apartment and accepted the floor plan, payment plan and the specifications, amenities and facilities ([annexed along with this Agreement) ] which has been approved by the competent authority, as represented by the Promoter. The Promoter shall develop the Project in accordance with the said layout plans, floor plans and specifications, amenities and facilities. Subject , subject to the terms in this Agreement, the Promoter undertakes to strictly abide by such plans approved by the competent Authorities and shall also strictly abide by the bye -‐ bye- laws, FAR and density norms and provisions prescribed by the Madhya Pradesh Law laws of West Bengal and shall not have an option to make any variation/alteration/
8.2. The Allottee shall not in any manner cause obstruction and/or hindrance to the construction and the development of the Project. If due to the default of the Allottee the Promoter is restrained from carrying out the construction/ development or is restrained from transferring or disposing of the Apartment(s), then save as except the other rights of the Promoter, the Allottee shall be liable to compensate and indemnify the Promoter for all such loss, damage, cost claims etc. that may be suffer or incurred.
8.3. No structural changes/ modifications are permitted. The Allottee shall not do or cause to be done any such things or works, which brings about structural changes/ modification in such plans, other than in the manner provided under the Act, and breach Apartment (s).
8.4. The work of this term by the Promoter shall constitute a material breach construction of the Agreement.
6.2 It is made clear by the Promoter and the Allottee agrees that the Unit project shall be treated as a single indivisible unit for taken up in various phases and all purposes.
6.3 The PROMOTERS shall have the right to grant right of access/way and/or other easement rights from the said land for development of any property adjacent to this property and permit to use the common facilities of the townshipand/or amenities will be provided progressively. The
8.5. The PROMOTERS and/or its nominees shall in all/any such event as mentioned above be also entitled to connect/ use Internal electrical wiring for the electrical lines, sanitary system, drainage connections, water supply systems including Bore ▇▇▇▇▇ and other common amenities of the project. The Allottee and the member of the society/COMPANY shall also admit such new intending Allottees as its members.
6.4 AT its sole and absolute discretion, the PROMOTERS may start construction/ development/ renovations on any part of the said land/ project or on the land adjacent/ adjoin the project land, including wings thereof or may postpone such construction thereof. The Allottee under any circumstances shall not stop or take any steps to stop such construction on the ground of nuisance, disturbances, or for other reasons of any nature whatsoever.
6.5 NOTWITHSTANDING any other provisions of this allotment the PROMOTERS Apartment(s) shall be entitled at its sole and absolute discretion:
i. To form a separate/combined societyprovided by the Promoter, Company, limited ‘PROMOTERS’, condominium of unit or any other body or bodies of Allottee/s however the Allottee shall have to be formed and constituted.
ii. To decide and determine how and in what manner the infrastructure including the common utility areas such as gardens, open spaces, roads, STP if any plants, Power transmission equipment’s, lights etc. may be transferred and/or conveyed/assigned/leased.
iii. To provide for and incorporate covenant, restriction and obligations with regard apply to the provision concerned Authority for obtaining supply of maintaining the infrastructure power and common amenities including garden and roads, if any.
iv. To decide from time to time to what extent the township will be transferred to the respective body formed.
v. To decide from time to time when and what type of documents of transfer if required should be executed.a separate meter for their allotted Apartment(s)
Appears in 1 contract
Sources: Sale Agreement