CLAUSES IN A Joint development 1. Title-Joint Development Agreement 2. Parties 3. Recital-narrative and introductory 4. Offer 5. Acceptance 6.

Project Land Area 7. Consideration-owners-developers 8. Earnest Money/Non-refundable deposit 9. Balance payment schedule 10. Conditions precedent-buyer-seller 11. Escrow mechanism 12. Purpose of the transaction 13. Nature of development 14. Deposit of title deeds with the Escrow agent 15. Investigation of title/search report/certificate of title 16. Public notice 17. Curing the defects/encumbrances 18. Representation and warranties of the Owners Marketable title-no encumbrances-possession-power and authority-no prior agreement-no acquisition and requisition-no reservation-consent-execute further documents-deliver the copy of the documents-no

violation of land laws-N.A. Permission-joint survey-no lispendants- no-adverse changes-valid and binding 19. Representation and warranties of the Developers Power and authority-consent of the company/firmno impediments-purpose-financial resources-valid and binding-compliance with statutory authorities-no liability Rights, duties and obligation of the Developers

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Inspection of the title deed- development Plandevelopment potential-payment terms-possession-licenceProject promotion-Advertisement managementdevelopment and construction- cost of the developmentdemarcation and allocation of constructed area-developerowner-development control regulations-modification of sanctioned plan-Project marketing-mofa- cc-oc- time period-specifications-NBCC-quality guarantee-basic infrastructure-no encroachment-ultimate organization-copy of sanctioned plan-comply with law Project financecommon area-allocation of area under reservations-setback margins-Appointment of contractors and sub contractorscompliance with law-Time is the essence of the contract-

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Rights, duties and obligations of the owners:-

No land cost- copy of the title deed - Permission from the concerned and competent authorities-PossessionDevelopment permission and plan sanction-Irrevocable power of attorney-Broker commission-interim maintenance management supervision-tdr-easements- other rights 22. No competition 23. Termination- Defaults on the part of the ownersDefaults on the part of the purchasers 24. Services of the Architects 25. Services of the Advocates and Solicitors 26. Taxes and Outgoings etc 27. Stamp duty and Registration 28. Tenure of the land 29. Insurance of the property 30. Project Name 31. Dispute Resolution 32. General Provisions:a. Notices b. Confidentiality c. No Waiver d. No Amendment e. No third party agreement f. Specific performance g. Liquidated Damages h. Severability

i. Entire agreement j. Indemnity k. Force majeure l. No partnership m. Governing laws n. Jurisdiction o. Counter parts p. Read and understood Execution Sheet Schedules Annexure mylawhouse.in Ph:9833843250 mylawhouse@gmail.com mylawhouse@yahoo.com