JOINT DEVELOPMENT AGREEMENT

THIS JOINT DEVELOPMENT AGREEMENT is made and executed on

this the _____________________ Day of ___________ Two Thousand
Nineteen [___.___.2019] at Chikkamagaluru,

BY AND BETWEEN:

BY AND BETWEEN

(1) Sri. Manjunath B. N

Son of late. B.N. Venkata Subbaya
Aged about 69 years,

(2) Smt. Saraswathi

Wife of late. Srikantaiah,
Aged about 75 years,

Both are Residing at ____________________

_____________________________________.

Hereinafter called and referred to as the “OWNERS/FIRST PARTIES”

of the FIRST PART.

AND

M/s PLANETREE
A Registered Firm, Having its Office at
No. A/28, 1St Floor, 32nd Cross,
Jayanagar 7th Block,
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Bengaluru – 560082.
Rep. by its partner SRI. SANDEEP V S

Hereinafter called and referred to as the “DEVELOPER/SECOND

PARTY” of the SECOND PART.

(The terms and expression OWNERS/FIRST PARTY and the

DEVELOPER/SECOND PARTY, wherever the context so requires shall mean
and include their Respective successors-in-interest, representatives, agents,
assignees, successors in title/office etc.,)

WITNESSETH:

WHEREAS, the First Parties are the absolute owners in peaceful possession
and enjoyment of the immovable property bearing PID No.
150900100101000025 and Panchayath Assessment No.26 measuring 8660.50
Sq. Meters situated at Huliyarahalli Village, Chikmagalur taluk and
Chikmagalur district presently comes within the limits of Grama Panchayat, the
said property is ancestral property of the first party of the first part and husband
of the second of the first part, having acquired the same by virtue of the order
passed by the panchayath vide bearing no. 4(19)/18-19-05/02/2019 and form 9
& 11A issued respectively in joint names and E-Khata also got transferred in
joint names of above said owners/First parties, which is morefully described in
the Schedule hereunder and hereinafter referred to as the “SCHEDULE
PROPERTY”.

Whereas, joint owners of the schedule property executed relinquishment deed

infavour of the above said owner and same has been registered on-
_____________vide document no.______________Book__ stored in CD
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 No._______in the office of sub registrar, Chikmagalur. Thereby remaining
owners in respect of the schedule property released their rights towards above
said owners/first parties.

WHEREAS, the Owners/First Parties being desirous of developing the

“Schedule Property” by forming Residential plots and has approached the
DEVELOPER herein, and the “DEVELOPER” who is involved in the business
of developing properties, having agreed to develop the “Schedule Property”, on
a joint venture basis, both the Parties have agreed to certain terms and
conditions in this regard and are desirous of placing the same on record.

NOW THIS JOINT DEVELOPMENT AGREEMENT WITNESSETH

AS FOLLOWS:

That in pursuance of the foregoing and subject to the mutual obligations

undertaken by the “OWNERS” and “DEVELOPER” under this Agreement, the
parties have agreed to jointly develop the “Schedule Property” subject to the
terms and conditions herein after contained.

1. PERMISSION TO DEVELOP:

1.1. The “OWNERS” agrees and authorizes the “DEVELOPER” and the
“DEVELOPER” hereby agrees and undertakes to develop the “Schedule
Property” into a Residential Plots., and connections relating to
electricity, water, drainage, facilities and sanitation in accordance with
the Sanctioned Plan and License to be granted by the concerned
authorities for the develop of the said Residential Plots on the “Schedule
Property”. The “DEVELOPER” shall have all such rights and
privileges as may be required to exploit the “Schedule Property” to
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 promote the Residential Plots in terms and spirit of this Joint
Development Agreement.

1.2. The “OWNERs” during compliance of the terms of this Agreement by

the “DEVELOPER” shall not revoke the rights granted to the
“DEVELOPER” under this Agreement till the completion of the project
as contemplated under this Agreement.

2. PLANS /LICENCES/NOC’s etc.,:

2.1.The “DEVELOPER” shall prepare plan for the proposed Joint Development
of the “Schedule Property” in accordance with the Bye laws, Rules and
Regulations in force and the “DEVELOPER” at its cost shall prepare the
plans and at its cost shall get the same approved, secure NOC, permission
etc., from all the concerned departments in the Name of the Developer.

2.2.The “DEVELOPER” shall with consent of the “OWNERS or their

representative/s” design the frontage of the Residential plots and further
design the plan in such manner as suitable and convenient to the
“DEVELOPER” and “OWNERS” and The “DEVELOPER” may make any
changes or alterations in the designing of the Plots or the plan and all such
changes, alterations shall be for the mutual benefit of both the parties.

2.3. Marginal Variations : The “DEVELOPER” with the consent of the Owners
make marginal modifications, deletions, additions and alterations in the
design and layout of the Residential Plots depending on the exigencies
during execution without materially affecting the entitlement of the
“OWNER’s” share, but shall comply with the bye-laws of the
Chikkamangaluru town planning.
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 2.4.In view of the additional construction of the Residential building, both
parties have mutually agreed that the stipulated period mentioned shall be
extended up to 12 (Twelve) months and hence, the First Parties under any
circumstances shall not claim any payment on the grounds of delay
mentioned in the said Joint Development Agreement.

2.5.The DEVELOPER shall have to take all decisions with respect to drawings,
plan or sketch of the Residential plots.

3. SHARING OF SUPER BUILT AREA:

3.1. It is agreed between the parties that the Plot area of the proposed Residential
plots after formation of the layout in the “Schedule Property” shall be
shared between the parties as follows:

a. 85% of plot area in the “Schedule Property” shall go to the share of the
“OWNERs” which is henceforth referred to as the “OWNER’S AREA”.

b. 15% of the plot area in the “Schedule Property” will go to the share of the
“DEVELOPER”, which is henceforth referred to as the “DEVELOPER’S
AREA”.

3.2. The OWNERs and the DEVELOPER have agreed to share the developed area
and plot wise in the in the schedule property in the aforesaid ratio. If at the
time of allotment, minor alterations are to be made, the Developer shall be
at liberty to make the same. Both the Parties shall share the
advantages/disadvantages proportionate to their respective sharing ratio on
equitable basis and homogenous basis and in such manner that the value of
the area is of more or less on par with their sharing ratio.
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3.3.A Sharing Agreement shall be entered into soon after the preparation/approval
of the proposed Residential plot plan, demarcating/earmarking the OWNER’S
developed Area and the DEVELOPER’S developed Area.

4. TIME LIMITS:

4.1. The “DEVELOPER” agrees and undertakes to complete the develop the
said residential plots on the “Schedule Property” within 24 months
(Twenty-four months) and with a grace period of 6 months (Six months)
from the date of obtaining sanctioned plan. In case the “DEVELOPER”
fails to complete the work within the said period, the “DEVELOPER” shall
pay damages to the “OWNERs.

4.2.If as a result of any injunction or stay orders granted by a court arising out of
any claims or defect in the title of the “OWNERs” in respect of the “Schedule
Property” and if the construction works on the “Schedule Property” is
stopped, the “DEVELOPER” shall be entitled to a corresponding extension of
time.

4.3. It is agreed between the Parties that if the said work is stopped for any reason
for a period beyond 60 days, then the “DEVELOPER” shall inform the
“OWNERs” the reasons for the same.

5. LOANS/FINANCE:

After approval of the plans and after obtaining commencement certificate from
the Planning authority and after entering into Agreement earmarking the share
of the Owner’s share, the “DEVELOPER” may raise project finance from any
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 financial institution/bank/s for the both owners and developer shares in the
“Schedule Property” for developing the Residential plots on the “Schedule
Property”, by mortgage or on the security of the owners and developers shares,
subject to the Developer complying with the terms and conditions of this
agreement and utilizing the sums so borrowed for the purpose of constructing
the building as agreed to in this agreement and not diverting the borrowed sum
for any other purpose either directly or indirectly. The “DEVELOPER” shall
keep the “OWNERs” duly indemnified in respect of the amounts borrowed by
the “DEVELOPER” in case of any default made by the “DEVELOPER” in
repayment of the amount borrowed. The “DEVELOPER” shall keep the
“OWNERs” informed of the amount of loan taken and the bank from which he
is borrowing.

6. POSSESSION:

6.1. The “DEVELOPER” has been permitted to enter the “Schedule Property”
for the purpose of development of the said Residential plots.

6.2.The Parties hereto covenant that nothing herein contained shall be construed
as delivery of possession of the “Schedule Property” either or in part
performance of any Agreement of Sale under Section 53 A of the Transfer
of Property Act or otherwise.

6.3.It is agreed between the Parties that on completion of development of the

Residential plots in the “Schedule Property”, the “DEVELOPER” shall put
he “OWNERs” in possession of Owner’s developed/plot Area. The
“DEVELOPER” shall hand over the possession of the “OWNER’S
constructed area only after completion of the construction in all aspects
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 including flooring, electricity, plastering, sanitation water connection and
painting etc.

7. FORCE MAJEURE:

“Force Majeure” means any act, event or circumstance or a combination of

acts, events and circumstances, detailed herein, which are beyond the
reasonable control of the DEVELOPER and not brought about at the instance
of the DEVELOPER and which or any consequences of which actually prevent,
hinder or delay in whole or in part the performance by the DEVELOPER of its
obligations under this Agreement, which means lightning, earthquake, storm,
flood, land slide, drought or lack of water and other unusual or extreme adverse
weather or environmental conditions, any accidental loss of or damage to cargo
in the course of transit caused by any of the other incidents listed in this clause,
where such cargo was intended to be utilized for the Project; loss of or serious
accidental damage to the Project for any reason beyond the control of the
DEVELOPER; epidemic; shortage or non-availability of cement, sand and any
other construction material, labour strikes or shortage of labour; act of war
(whether declared or undeclared), invasion, armed conflict or act of foreign
enemy, blockade, embargo, revolution, riot, bombs or civil commotion;
sabotage, terrorism or the imminent threat of such acts; act of God; government
action, inaction or delay; orders passed by Courts or Tribunals; change in law;
or any act, event or circumstance of a nature analogous to the foregoing.

8. TRANSFER OF DEVELOPER’S CONSTRUCTED AREA:

8.1.The “DEVELOPER” in view of developing the “Schedule Property” at its

own cost and expense, is entitled to retain, possess, enjoy or alienate its share
i.e. the DEVELOPER’S Constructed Area in the “Schedule Property”. The
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 “DEVELOPER” is entitled to convey the DEVELOPER’S constructed Area
to any person/s /third party of its choice and such third party shall be the
proportionate “OWNER/s” of the DEVELOPER’S Constructed Area.

8.2.The “OWNERs” is entitled to retain, possess, enjoy or alienate his share of

the Owner’s Constructed Area, in the “Schedule property”. The “OWNER” is
entitled to convey the Owner’s Constructed Area to any third party of his
choice and such third party shall become the proportionate “OWNER/s” of
the OWNER’S Constructed Area.

8.3.The “DEVELOPER” shall be at liberty to appoint its nominee/s for the

purchase of DEVELOPER’S constructed Area and the “OWNERs” shall
directly or through a duly constituted Attorney execute proper Conveyance
Deed in favour of the Nominees of the “DEVELOPER” in respect of the
said DEVELOPER’S constructed Area after completion of the Project.

8.4.After execution and registration of this Joint Development Agreement the

“DEVELOPER” shall be at liberty to enter into Agreements with prospective
purchasers for sale of DEVELOPER’S constructed Area on the basis of the
General Power of Attorney executed by the “OWNERs” in favour of the
DEVELOPER.

9. Simultaneously on registration of this agreement, the “OWNERs” shall

execute a Registered General Power of Attorney in favour of the
DEVELOPER or its nominee/s, to enable the “DEVELOPER” to obtain
necessary permission, sanction of plan, NOC’s permission from Revenue
Authorities,BESCOM, BWSSB, Electricity, BSNL, Airport Authority,
Pollution Control Board, Water and Sanitary connections, to appear and
represent before Government authorities, sales tax and other concerned
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 authorities etc., in relation to the execution of any work in respect of the
“Schedule Property”. The NOC’s and any approvals obtained in the name of
the Owners herein and the necessary applications submitted for approvals
before the concerned authorities shall be considered as binding to proceed
with the further approvals in the name of the Developer. The “DEVELOPER”
is authorised to enter into Agreements with prospective purchasers for sale of
DEVELOPER’S constructed Area, and to enter into Sale Agreements and
execute Sale Deeds/and other Deeds, receive sale consideration for
conveyance of the Developer’s Constructed Area or to any such amendment
from time to time. The General Power of Attorney which shall be executed by
the OWNER shall also include the rights to market the Owner’s share and to
execute and mortgage the Developer’s share in the “Schedule Property”. The
“OWNER” undertakes not to revoke the said registered General Power of
Attorney till the completion of the project, subject to Developer complying
with the terms and conditions of this agreement.

10. OWNERSHIP:

10.1. The “OWNERs” and “DEVELOPER” or their assignees or transferees shall

be entitled to use and enjoy all the amenities, common facilities, common
areas in the building to be constructed on the “Schedule property” and shall
be entitled to free ingress and egress and shall have the right of way at all
reasonable times and all other easementary rights and privileges common to
them or the prospective purchasers of the flats etc., constructed on the
“Schedule Property”.

10.2. The “OWNER’s Constructed Area” and “DEVELOPER’s Constructed

Area” as per the allocation shall be the absolute property of the respective
parties and he/they/it shall be entitled to sell, mortgage, gift, lease and
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alienate or otherwise dispose off the same or any part thereof along with the
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 proportionate share of undivided interest in the land in the “Schedule
Property” and he/they/it shall be entitled to all income, gains, capital,
appreciation and benefits of all kinds and description accruing, arising or
flowing there from and subject to payment of all sums payable and
refundable therein, provided that such sale or alienation shall be after the
completion of the construction of the building on the “Schedule Property”.

11. CONSTRUCTION:

11.1.It is agreed between both the parties that the DEVELOPER shall maintain
absolute quality conforming to the specification in Annexure appended to
this agreement.

11.2.The “OWNERs” having permitted the “DEVELOPER” to construct

Residential building on the “Schedule Property” as per the Sanctioned plan,
the “DEVELOPER” shall be at liberty to undertake the construction of the
Residential building as per the Sanctioned Plan and obtain all requisite
permissions/ sanctions/ orders/ modified plans/licenses from the competent
authorities as may be necessary for commencing and completion of the
project of construction of the said Residential building on the “Schedule
Property” in all respect at its cost and expenses.

11.3.It is further agreed that the area of the construction shall be in accordance
with Plan/ maximum permitted FAR, and for deviation if any, the cost of
regularization/compounding such deviations shall be paid by the
“DEVELOPER” only.

11.4.The “DEVELOPER” shall be entitled to entrust the building construction

work to such person/s/firms/companies as the “DEVELOPER” may think fit
and appropriate and shall be at liberty to nominate its own Architects,
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 Attorneys, Civil Engineers, Chartered Accountant, Contractors and any other
professionals which the “DEVELOPER” may deem it necessary for the
effectual completion of the project or for professional assistance relating
thereto.

11.5. The “OWNERs” shall at all times have the right to inspect the progress of
work and quality of construction on the “Schedule property”.

12. CONSTRUCTION COST AND DISPUTES:

12.1.All expenses and costs which may have to be incurred in connection with the
preparation of the plans, drawings, estimates, etc., and obtaining sanctions
of the plan, licenses, NOC’s and also the entire cost of construction of the
building and the amenities, services and facilities and the fittings, fixture and
Generators thereon, including the fees payable to the Architects, Engineers,
Contractors and other staff and workmen shall all be borne by the
“DEVELOPER” both in respect of the “Owner’s Constructed Area” and
“Developer’s Constructed Area”.

12.2.The “OWNERs” shall pay deposits for obtaining the water connection,
sewerage connection from the Bangalore Water Supply and Sewerage Board
and electricity connection from the Karnataka Power Transmission
Corporation Limited or any Authority in so far as the same relates to the
“OWNER’s Constructed Area”. All other deposits and expenses without
exception shall be borne and paid by the “DEVELOPER” only.

12.3.In case of any accident resulting in injury or death of any workmen or third
party during the construction on the “Schedule property”, the
“DEVELOPER” shall be solely responsible for the compensation that may
be payable to the injured/deceased and the medical expenses and other
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 incidental expenses that may be required for the treatment of the injured
person/deceased or otherwise. No part of the liability in this behalf shall be
payable by the “OWNER”. The “DEVELOPER” shall keep the “OWNER”
fully indemnified and harmless in this behalf.

12.4.All items of Plant and Machinery, tools, implements, stores, materials etc.
which are used by the “DEVELOPER” for construction shall be exclusive
property of the “DEVELOPER”.

12.5.In case of disputes between the “DEVELOPER” and its contractors,

architects, engineers and other workmen and suppliers of material and other
persons who are engaged in the Construction and development of the
“Schedule Property”, the same shall be settled by the “DEVELOPER” who
shall also be liable and answerable for their claims, if any. The “OWNER”
shall have no liability of any nature in this behalf.

12.6.The DEVELOPER at its sole discretion at its own cost for the additional
built-up area to be constructed in the Schedule Property and the OWNER
has agreed for the same and the modified plan shall be obtained for the same
from the competent authority. The First Parties has unconditionally
permitted the Second Party to put up the additional structure in accordance
with modified plan over the schedule property by the Second Party.

12.7.The Owners has consented, agreed and permitted to the DEVELOPER solely
to for the construction of the additional floors.

12.8.The DEVELOPER shall have to take any decisions with respect to drawings,
plan or sketch of the additional floors of building and the OWNER/First
Parties has assured they will not interfere with them in this regard.
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13. ORIGINAL TITLE DEEDS:

13.1.The “OWNERs” has agreed to deliver Original Title deeds and all related
documents in respect of the “Schedule Property” to the “DEVELOPER”
on the date of execution of this Agreement.

13.2.All the documents so delivered pertaining to the “Schedule Property” shall

remain in the custody of “DEVELOPER” till the time of completion of the
project and that after the completion of the entire project all the said
documents pertaining to the “Schedule Property” and the building thereon
shall be handed over to the custody of Association of the “OWNERS” of
individual units of the said Residential building built in the “Schedule
Property”. The said Association shall be formed by the “DEVELOPER” at
its cost.

14. PROPERTY TAXES:

14.1.The “OWNERs” hereby covenants to pay all the arrears of property tax till
the date of execution of the Joint Development Agreement in respect of the
“Schedule Property” to the concerned local body, and thereafter during
the period of construction the property tax shall be payable by the
“DEVELOPER” till the completion of the construction of the Residential
building and until the individual units are individually assessed and sub-
numbered to their respective areas.

14.2.After completion of the construction, the assessment of the property tax shall
be obtained in respect of the individual units by the “DEVELOPER”, and
the parties hereto shall pay their respective shares of the property tax
assessed by the concerned local body.
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14.3.The Owner hereby covenants to pay all the arrears of tax, betterment charges,
Khatha and Khatha extract charges, amalgamation khatha charges, arrears of
electricity charges, arrears of BWSSB charges, water and sanitary charges
till the date of execution of this Agreement.

15. DEPOSITS & STATUTORY PAYMENTS :-

The Developer shall pay all such statutory deposits, amounts and expenses as
may be necessary for obtaining the water connection, sewerage connection
from the Bangalore Water Supply and Sewerage Board and electricity
connection from the BESCOM. If the Owner retains his share of the
Constructed Area, then the Owner is liable to pay all the aforesaid statutory
dues and the deposits with respect to BWSSB AND BESCOM.

16. INCOME TAX:

The Owner agrees to pay the capital gains as per the Income Tax Act, as
applicable with respect to the Schedule Property, without creating any liability
on the Developer.

17. GOODS AND SERVICE TAX (GST):-

18.1. The Developer Agrees to remit the applicable Goods and Service Tax or
any new taxes being introduced by the State or Central Government or by
any statute of the Government or any authority, including but not limited to
Goods and Service Tax or any such taxes by whatever name called or any
other taxes on Owner’s Constructed Area.
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18.2. The Developer and Owner have agreed to pay Goods and Service Tax or
any new taxes being introduced by the State or Central Government or by
any statute of the Government or any authority, including but not limited to
Goods and Service Tax or any such taxes by whatever name called or other
taxes to the concerned Department of their respective shares as and when
sold to the prospective purchaser/s.

18. INDEMINITY:

The “DEVELOPER” after having gone through the documents of title has
satisfied that the “OWNER” is having subsisting right, title and interest over
the “Schedule Property” and that the same is free from all and every kind of
encumbrances, attachments of any court, charges etc. and that if as a result of
any misrepresentation made by the “OWNERs” in relation to the title of the
“Schedule Property” causes loss to the “DEVELOPER”, the “OWNER”
undertake to compensate the loss suffered by the “DEVELOPER” and the
losses so suffered by the “DEVELOPER” shall constitute a first charge on the
“Schedule Property” and the “OWNERs” undertake to settle any dispute /claim
that may arise as regards the title, at its cost.

19. ASSOCIATION TO BE FORMED:

The “OWNERs” or its transferees as regards their share of constructed area

and the “DEVELOPER” or its nominee/s in respect of its share of the
constructed area, shall become members of a Society/Association to be formed
by flat owner’s in the building for the purpose of attending to maintenance
and safety of the building and all matters of common interest, and shall
observe and perform the terms/ conditions/bye-laws/rules/ regulations of such
society/Associations condominium to be formed by “DEVELOPER”.
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20. SECURITY DEPOSIT:

21.1.The DEVELOPER herein has agreed to pay a sum of Rs.50,00,000/-(Rupees

Fifty Lakhs only) in favour of the OWNERs as Good will (nonrefundable
security deposit) in the following manner:

a. Rs.10,00,000/- (Rupees Ten Lakhs Only) by way of cheque dated

……………..bearing No……………..drawn on …………….Bank,
………………. Branch, Bangalore, in favour of the First party of the
First part.

b. Rs.20,00,000/- (Rupees Twenty Lakhs Only) by way of cheque dated

……………..bearing No……………..drawn on …………….Bank,
………………. Branch, Bangalore, in favour of the Second party of
the First part.

c. Rs.10,00,000/- (Rupees Ten Lakhs Only) by way of cheque dated

……………..bearing No……………..drawn on …………….Bank,
………………. Branch, Bangalore, in favour of the Third party of the
First part.

d. Rs.10,00,000/- (Rupees Ten Lakhs Only) by way of cheque dated

……………..bearing No……………..drawn on …………….Bank,
………………. Branch, Bangalore, in favour of the Fourth party of
the First part.

21.2.The Owners confirm and acknowledges for having received the security
deposit of Rs.50,00,000/-(Rupees Fifty Lakhs only) in the above manner.
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21. MAINTENANCE DEPOSITS:

22.1.The Parties herein shall from the date of delivery of possession of their
respective shares in the constructed area, maintain their respective portions
at their own costs and expenses in good and tenantable condition and shall
not do or suffer to be done anything in the common area of the building
which may be against law or this Joint Development Agreement or which
will cause obstruction or interference to the users of such common areas.

22.2.Every Flat Owner/s including the “OWNERs” herein or its nominee/s the
“DEVELOPER” or its Nominees shall deposit such sums with the
“DEVELOPER” which will be decided mutually for the first year as initial
maintenance deposit at the time of taking possession of their respective
shares of the super built up area or execution of the Sale Deed of the
individual Flat, whichever is earlier. The maintenance deposit so collected
by the “DEVELOPER” shall be transferred to the Association of Owners of
the shops, offices, showrooms to be formed by the “DEVELOPER” after the
completion of the said building complex and sale of substantial number of
Flats. A certain amount of the deposit so collected shall be appropriated by
the “DEVELOPER” to itself as monthly maintenance expenses for the first
year. Thereafter, the purchasers of the Flats shall mutually agree towards the
monthly maintenance expenses as per the by-laws framed by the said
Association.

22.3.The “OWNERs” and the “DEVELOPER”, along with other purchasers in

proportion to their shares, shall be deemed to have accepted the following
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 conditions and contracted to bear the following expenses after completion of
the building and delivery of the owner’s constructed area.

22. GENERAL MAINTENANCE:

The expenses of routine maintenance including painting, color washing,

cleaning etc. of common areas, and provisions for the common services to
the building as set out below:-
a) Maintenance of lifts, pump sets and other machineries, sanitary and
electrical lines common to the building.
b) Payments of electrical and water charges for common services areas.
c) Replacement of bulbs in corridors and in other common areas.
d) Provision for watchman, lift operator, pump operators and other security
staff.
e) AC Maintenance and Power generator Maintenance.

23. STOPPAGE OF FACILITIES ON DEFAULT:

Should the “OWNERs”, its nominees or other purchasers/occupiers of any

portion of the building in the “Schedule Property” default in payment of any
common expenses, benefits or amenities, the “DEVELOPER” or association of
the “OWNER” shall have the right to stop such common benefits including
electricity and water connection from their enjoyment till all sums due are paid.

24. REGISTRATION:

The cost of Registration and other incidental expenses pertaining to the

conveyance of the DEVELOPER Constructed Area or any portion thereof shall
be borne and paid by the “DEVELOPER” or its nominees. The OWNER shall
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 be entitled to retain, possess, enjoy or convey the Owner’s Constructed Area or
any portion thereof and the cost of Registration and other incidental expenses
pertaining to the conveyance of Owner’s Constructed Area shall be borne by
the OWNER or its nominee/s.

25. NAME OF THE BUILIDNG:

The name of the proposed Residential building shall be decided as

“ENCLAVE” by the Developer in consultation with the Owner.

26. DISPUTES:

Any dispute or difference which may arise between the parties herein with
regard to the intents and meanings of this Joint Development Agreement or its
interpretation or any part thereof or any matters relating to the agreement shall
be referred for Arbitration as provided for in the Indian Arbitration and
Conciliation Act, 1996, or as amended from time to time, and the decision of
the Arbitral Tribunal shall be final and binding on the parties and the venue of
the arbitration shall be Bengaluru.

27. RIGHTS AND DUTIES OF BOTH THE PARTIES:

The Parties hereto covenant and declare that in respect of matters not provided
herein, the Parties shall mutually co-operate with each other from time to time
for the smooth implementation of the project and liberal interpretation shall be
given to the covenants herein contained. The Parties hereto agree that during
the period of the project, necessary Supplementary Agreement may be executed
upon mutually agreed terms to supplement this Joint Development Agreement
so as to give full effect to the terms and conditions herein contained.
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28. BREACH:

In the event of either party to this Joint Development Agreement committing

breach, the aggrieved party shall be entitled to enforce specific performance of
this contract and also recover all costs, expenses and losses incurred by the
aggrieved party as a consequence of such breach from the party committing the
breach. Save and except what are herein specifically provided, the rights and
obligations of the parties herein shall be governed by the law in force.

29. FORBEARANCE:

Any delay or indulgence shown by any of the parties to this Agreement in

enforcing the terms of this agreement or any forbearance shall not be construed
as waiver of their respective rights by the other party nor shall the same in any
manner prejudice the rights of any of the parties.

30. ADVERTISEMENT OF DEVELOPER’S INTEREST:

On signing this agreement, the “DEVELOPER” is entitled to advertise its rights

on the Property in the Newspaper, hoardings and other way of advertisements.

31. RESTRICTIONS ON BOTH THE PARTIES:

The Parties herein their successors, heirs, representatives and assigns are bound
by the covenants mentioned in this Agreement and will be bound by the
following covenants after completion of the building: -
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a) USAGE SHOULD NOT DIMINISH THE VALUE: Not to use or permit
the use of the building in a manner which would diminish the value of the
building in the “Schedule property”.

b) USAGE OF COMMON AREA SHOULD NOT OBSTRUCT

MOVEMENT OF VEHICLES:
Not to use the space left open after the construction for any other purpose
other than for the purpose for which it is allotted or meant. To use
specifically allotted parking spaces for the purpose of parking only and not
to park vehicles at any place in the “Schedule property” other than the
specifically allotted places.

c) NOT TO DEFAULT IN PAYMENT OF TAXES / LEVIES: Not to

default in the payment of any taxes, levies expenses or maintenance
expenses or any part thereof to be shared along with the other “OWNER”
in the building.

d) NOT TO CHANGE COLOUR / ELEVATION: Not to change the

elevation and colour of the exterior of the building to be constructed by the
“DEVELOPER”.

e) PARKING FOR LIGHT FOUR WHEELERS / TWO WHEELERS:

Not to use parking space provided for the respective “OWNER” for any
other purpose other than for parking their light four wheelers or two
wheelers as the case may be.

f) NOT TO THROW DIRT: Not to throw dirt or allow or suffer to be thrown

dirt, rubbish, rags, cigarettes etc or permit the same to be thrown from out
of the Residential building or in the Compound or any portion of the
building in the “Schedule Property”.
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g) SIGN BOARD: Not to put or cause to be put up any signboard in any part
of the building or in the compound, other than the specific areas that are
provided for the same.

h) TERRACE: If authorities permit additional construction on terrace, the

same can be undertaken by the “DEVELOPER.

i) NOT TO COVER BALCONIES / TERRACES: Not to cover or put up

any construction in the balconies and/ or terraces whether private or
common in any manner whatsoever.

j) Not to make any separate arrangement for the maintenance of the common
areas, services, facilities other than through the said Association/ society.

k) Not to store anything in any part of the building in the “Schedule Property”
which are hazardous, combustible, dangerous or objectionable or which are
excessively heavy and which may cause damage or weaken the building on
the “Schedule Property”.

l) Not to carry or cause to be carried heavy articles in the lifts, staircases,

lobbies, common passages or any other part of the said building which are
likely to cause damage to the said building.

m) Not to use or permit the use of the common passages, staircases or common
areas for storage, display boards, materials etc. or in a manner as to cause
inconvenience, obstruction or nuisance to others or to affect the aesthetics
of the said building.

n) To faithfully observe the rules and regulations of the Association/ Society

23

of the occupiers of the said building.

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 o) Not to carry on any objectionable business prohibited by law in any part of
the building in the “Schedule Property”.
p) Not to seek the partition of the common facilities or services or the
“Schedule Property” but enjoy the same in commonality with other Co-
OWNERS.

32. RIGHTS OF THE “OWNER”:

The “OWNER” shall have the following rights:

a. ACCESS TO ALL COMMON AREAS:

Full right and liberty for the “OWNER/s” in common with all other persons
entitled, permitted or authorized to like rights, at all the time of the day or
night and for all purposes to go, pass and repass throughout all the lobbies,
terraces, lifts, staircases, passages and other common areas inside and
outside the building in the “Schedule property” except the right to use
parking spaces, garden/terrace space specifically allotted to the
“DEVELOPER” or its nominees.

b. RIGHT OF PASSAGE OF WATER / ELECTRICITY / SOIL / GAS

ETC:
Free and uninterrupted passage of running water, soil, gas and electricity
from and to the entire building and to individual units through cables, pipes,
drains, ducts and wires which are now or may at any time hereafter be
passing through / under the building or any part thereof.
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c. ACCESS TO BOREWELL / TANK, ETC.,

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 Right of passage for “OWNER” and its agents or workmen to any parts of
the building at all reasonable time where the water tanks bore well are
situated for the purposes of cleaning or repairing or maintaining the same
causing least disturbance and make good any damage caused.

d. ACCESS FOR MAINTENANCE OF WATER COURSES/

DRAINAGE ETC.
Right of passage for “OWNER” and his agents or workmen to the other parts
of the building at all reasonable times to enter into and upon parts of the
building for the purposes of repairing, cleaning, maintaining any sewers,
drains and water courses, cables, pipes and wires causing as little disturbance
as possible and make good any damage caused.

e. The right to subjacent and lateral support, shelter and protection from other
parts of the building.

f. The right to lay cables, wires through common walls or passages for radio,
television, telephone, CCTV and fire alarms and such other installations
having due regard to the similar rights of other occupants in the said building
with prior permission of the “DEVELOPER” or the Association / Society as
the case may be.

g. Subject to the payment for common facilities and services the right to enjoy
the common facilities and services in the said building.

h. The right to use the common open area around the said building and the
entrance other than the specifically allotted areas to other occupants.
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 i. Right to use and enjoy all the roads, passages, pathways, common areas and
all the facilities in the “Schedule property”.

33. The “DEVELOPER” hereby covenants with the “OWNERs” as follows:-

To send a copy of all documents, papers, sanctions, licenses, certificates,

permissions NOC’s, correspondence, etc., (without exception) relating to the
project as a whole under this Agreement to the First Parties to the address as
mentioned above herein.

34. DEFECT LIABILITY PERIOD:

The Developer shall not be responsible for any defects noticed in the said
building after a period 12 (twelve) months from the date of grant of Certificate
by a registered Architect that the construction is completed in all aspects and
an application for grant of occupancy certificate is filed before the competent
authority.

35. COST OF THIS AGREEMENT AND CUSTODY:

This agreement is drawn in duplicate. The original will be with the

“DEVELOPER” as it has borne the cost of stamp duty and registration charges
of this Agreement and the Duplicate shall be with the Owner.

36. NOTICES / CORRESPONDANCE:

Any notice to either party will have to be sent by Registered post with
acknowledgement due to the address mentioned above or to any other notified
address.
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37. This Joint Development Agreement is prepared in two sets and the original
shall be retained by the Developer and the duplicate shall be retained by the
Owner.

SCHEDULE PROPERTY
Item No.1
All that piece and parcel of the immovable property, being the site bearing
No.38, Katha No.76/5, now comes within the BBMP Limits, measuring East to
West 60Feet, North to South 6Feet, totally measuring 306Sq.ft, situated at
Talaghattapura Village, Uttarahalli Hobli, Bengaluru South taluk, Bengaluru
and bounded on the:

East by : Road;
West by : Site No.41;
North by : Northern portion of the same Property;
South by : Site No.39.

Item No.2
All that piece and parcel of the immovable property, being the site bearing
No.40,41 and 42 Katha No.76/5, measuring East to West 40Feet, North to
South 90Feet, totally measuring 3600Sq.ft, situated at Talaghattapura Village,
Uttarahalli Hobli, Bengaluru South taluk, Bengaluru, now comes within the
BBMP Limits and bounded on the:

East by : Site No. 43;

West by : 60 feet Road;
North by : 30 feet Road;
27

South by : Site No.37,38 & 39.

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Item No.3
All that piece and parcel of the immovable property, being the site bearing
No.39, Katha No.76/5, now comes within the BBMP Limits, measuring East to
West 60Feet, North to South 40Feet, totally measuring 2400Sq.ft, situated at
Talaghattapura Village, Uttarahalli Hobli, Bengaluru South taluk, Bengaluru
and bounded on the:

East by : Road;
West by : Site No.40;
North by : Site No.40;
South by : Road.

Item No.4
All that piece and parcel of the immovable property, out of northern portion in
the site bearing No.38, Katha No.76/5, now comes within the BBMP Limits,
measuring East to West 60Feet, North to South 34Feet totally 2040 Sq. ft and
another site bearing No.37 measuring East to West 60 feet, North to South
11.75 total 705sq. ft, totally admeasuring 2745 Sq.ft, situated at Talaghattapura
Village, Uttarahalli Hobli, Bengaluru South taluk, Bengaluru and bounded on
the:

East by : Road;
West by : Site No.42 & 41;
North by : Remaining Northern portion of the same site No.37;
South by : Remaining Northern portion of the same site No.38.

Item No.5
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All that piece and parcel of the immovable property, out of Southern portion in
site bearing No.36, Katha No.76/5, now comes within the BBMP Limits,
measuring East to West 60Feet, North to South 1.75 Feet, totally measuring
105Sq.ft, and another site out of Norther portion in site bearing No.37
measuring East to West 60 Feet, North to South 28.25 Feet, totally admeasuring
to 1695 Sq. ft both the site admeasuring 1800 Sq. ft situated at Talaghattapura
Village, Uttarahalli Hobli, Bengaluru South taluk, Bengaluru and bounded on
the:

East by : Road;
West by : Site No.43 & 42;
North by : Remaining Northern portion in same site no. 36;
South by : Remaining Northern portion in same site no. 37.

Item No.6
All that piece and parcel of the immovable property, being the site bearing
No.43, Katha No.76/5, now comes within the BBMP Limits, measuring East to
West 40Feet, North to South 15Feet, totally measuring 600Sq.ft, situated at
Talaghattapura Village, Uttarahalli Hobli, Hemmigepura ward no.198,
Bengaluru South taluk, Bengaluru and bounded on the:

East by : property belongs to Venkataraju, Ravikumar and

Manjunath reddy;
West by : Road;
North by : Remaining Northern portion of the same Property in site
no.43;
South by : Site No.42.
29
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IN WITNESS WHEREOF the PARTIES herein have signed and executed
this Joint Development Agreement on the Day, Month and Year First above
mentioned.

OWNERS/ FIRST PARTIES

1. Sri. R. Hanumanth Reddy

2. Sri. R. Venkataraju

3. Sri. R. Ravikumar

4. Sri. R. Manjunath

5. Smt. Bhaghyamma@ Bharathi

6. Sri. Umesh

7. Ms. Chaitra

8. Sri. Harsha
30

9. Sri. Dinesh
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 10. Ms. Nisha

11. Sri. Vinod

12. Master Lokesh rep. on behalf

him his
natural father

DEVELOPER/SECOND PARTY

M/s VARAHI ASSOCIATES,

Rep. by
SRI.HANUMANTHARAJU.L.

WITNESSES:

Name: Name:
Address: Address:

Drafted By:
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NAGESH K V
Advocate

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