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This Memorandum of Understanding is executed at Jaipur on
10.07.2007 by and between M/s. Lotus Cons. Build. Technocrat Pvt. Ltd. a
company incorporated under the companies Act, 1956, having its registered
office at C-102 Golden Heritage, Jaipur though its promoter Director Shri
Ram Karan Choudhary, hereinafter referred to as the "OWNER" (which
expression shall mean and include its legal heirs, administrators,
executors, successors and assignee) of the PART ONE.
AND
Rajasthan Administrative Service Association, having its registered
office at Parishad Bhawan, Plot No. 2 Institutional Area, Malviya Nagar,
Jaipur, through its President Shri P. P. Bidyasar of the PART TWO.
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4. |
To allo the PART TWO to allot maximum 500 Plots size
of each plot be (39' X 69') 299 square yard in the said project or par
thereof in accordance with their priorities. |
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5. |
Apply for the approvals, sanctions, and permissions,
including permissions for change of land use, 90-B approvals from JDA
and also from various agencies involved into giving such approvals. |
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6. |
The PART ONE shall carry out development works of the
project after the approvals by the competent authority. |
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7. |
The construction will be carried out
in phased manner as decided mutually. |
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8. |
The PART ONE shall endeavor to
complete the said project within a period of 1 year from the date of
launch of the Project. And in the event, it is not complete within the
stipulated period by the reasons beyond control of part one the amount
paid by individual applicant will be returned with bank interest if so
desired. |
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9. |
To do complete town planning and
layout planning of land for filing of 90B application. |
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10. |
To commence manage and complete the
development on the project land in accordance with the CLU and 90B
approvals granted by the competent authority and also as per sanctions
received from the concerned authority and to decide the priority of
development of various facilities within the colony and to carry out
any infrastructure development. |
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11. |
To take all precautions, safety
measures in accordance with land governing development and
construction of building and development of the said Project. |
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12. |
Part one will be responsible to
undertake internal development of the colony up-to a limit of Rs.
200/- Sq. yard subject to the verification of a competent engineer
authorized by JDA. |
| Obligation of PART
TWO: |
| 1. |
It is clearly agreed and
understood between the parties that Rs. 1150/- (Eleven hundred fifty
only) per square yard shall be paid/arranged by the PART TWO through
its applicants. |
| 2. |
PART TWO shall be
responsible to make the payment of individual member applicant in
following stages:- |
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Stage 1: A bankers cheque
/ D.D. of Rs. 1 lakh for each plot holder will be deposited within 45
days of signings of this agreement. |
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Stage 2: Remaining
payment will be paid in two installments, the first installment of 70%
of remaining amount will be paid within 30 days from the time of
completion of 90-B, and after approval of map and any other approval
required by financial institution for individual loaning. |
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Stage 3: Remaining 30% of
amount will be paid within 30 days from the completion of development
works by the part one and in position to handling over the possession. |
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The amount required for
development more then Rs.200/- will be borne by the members of PART
TWO and charges for external development and any other charges levied
from time to time by J.D.A. and by Govt., shall be borne by members of
Part Two. |
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(Ram Karan Choudhary)
(P. P. Bidiyasar) Director
President
Lotus Consbuild Technocrat Pvt. Ltd.
RAS Association
Jaipur
Jaipur
PART
PART TWO |
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