Common use of RIGHTS OF THE DEVELOPER Clause in Contracts

RIGHTS OF THE DEVELOPER. Developer obligation for obtaining occupation certificate /completion certificate. The Developer hereby agrees to observe, perform and comply with all the terms, conditions, stipulations and restrictions if any, which may have been imposed by the concerned local authority at the time of sanctioning the said Plans or thereafter and shall, before handing over possession of the Unit to the Allottee/s, obtain from the concerned local authority occupancy and /or completion certificates in respect of the Unit. ▇. ▇▇ is further agreed that the Developer/Association shall start commencement of the common area maintenance within two months post receipt of the Completion Certificate from the Local Authority. ▇▇. ▇▇ is further agreed that the Developer/Association reserves the right to claim the additional amount towards the maintenance charges from the Allottee/s if the provision maintenance charges paid by the Allottee/s exhaust on an early date. iii. The Developer/Association shall handover the duly audited accounts of the maintenance funds to the Association after formation of the same and the Developer/ Association shall be responsible to produce the audited accounts of maintenance funds till the date of formation of Association to the Allottee/s in a yearly meeting with Allottee/s. iv. The Developer states that the Parking spaces (Open & Covered) in the Project Land form a part of the Common Area.

RIGHTS OF THE DEVELOPER. Developer obligation for obtaining occupation certificate /completion certificate. The Developer hereby agrees to observe, perform and comply with all the terms, conditions, stipulations and restrictions if any, which may have been imposed by the concerned local authority at the time of sanctioning the said Plans or thereafter and shall, before handing over possession of the Unit to the Allottee/s, obtain from the concerned local authority occupancy and /or completion certificates in respect of the Unit. ▇. ▇▇ is further agreed that the Developer/Association shall start commencement of the common area maintenance within two months post receipt of the Completion Certificate from the Local Authority. ▇▇. ▇▇ is further agreed that the Developer/Association reserves the right to claim the additional amount towards the maintenance charges from the Allottee/s if the provision maintenance charges paid by the Allottee/s exhaust on an early date. iii. The Developer/Association shall handover the duly audited accounts of the maintenance funds to the Association after formation of the same and the Developer/ Association shall be responsible to produce the audited accounts of maintenance funds till the date of formation of Association to the Allottee/s in a yearly meeting with Allottee/s. iv. The Developer states that the Parking spaces (Open & Covered) in the Project Land form a part of the Common Area.