Memorandum for Sale of Property

This Agreement to sell is made on 28th day of Feburary 2018

By Mr. Nilesh Kumar Ranchhodbhai Pistolwala(hereinafter called the seller) or the first party.
AND
Mr. Nitesh Ishwar Acharya (hereinafter called the purchaser) or the second party.

Whereas the First party is the absolute owner in possession of property: Flat no C502 of Maha mangalya
Residency, bearing R.S. No. 169/7, situated near Zadeshwar Chokdi, Bharuch.

That the first party is agree to sell the said property to the 2nd party with all his rights pertaining to the said
property and with the responsibility of all other heirs and 2nd party has agree to purchase for a total
consideration of INR. 23.00 Lacs/- (Twenty Three Lac only) on these terms and conditions:-

1. And whereas the first party have assured the second party that the said property has neither
mortgaged nor attached in any bail as surety in any court or Financial Institution or Corporation, nor any
agreement to sell has been made with any other party prior to this agreement.

2. That the purchaser has agreed to pay to the said seller the amount of INR. 80000/- (Eighty
Thousand only) as earnest money against the said property within 7 days from the date of signing this
memorandum, failing which this memorandum of sale is deemed cancelled. The duration of 7 days can be
revised to a mutually agreed and communicated date between the parties.

3 That the remaining shall be paid by the purchaser within 90 days, from the date of signing of this
document. The final agreement of sale will be signed immediately after the clearing of all dues agreed
under this memorandum. The duration of 90 days can be revised to a mutually agreed and communicated
date between the parties

4. That the said property/plot is free from all sorts of encumbrances and there is not charges over it
like, sale, gift, mortgage, lease, lien, attachment, demands, etc.

5. That the seller shall get the said plot /property transferred in the name of purchaser or his
nominees and fulfils all requirements of concerned authorities.

6. That the expenses on the deed of sale, NOC etc. of the said property/plot shall be borne by the
purchaser and all the expenses on the sale deed, and the other final papers, and documents of the said
property shall be borne by the said purchaser.

7. That the expenses on account of transfer fees to be paid to the Maha Mangalya co-operative
housing society of the said property/plot shall be borne by the seller.

8. That in case the said seller backs out from his bargain and fails to fulfil all the formalities of transfer
of the said property then the said seller shall be liable to pay the amount of earnest money (INR. 80000/-
Eighty Thousand Only), if paid by the purchaser, in full, immediately upon the demand by the purchaser
along with the penal interest calculated from the date of actual money transfer up to the date of demand
from the purchaser. The rate of interest to be considered for calculation shall be 8% per year.

9. That in case the said purchaser backs out from his bargain and fails to fulfil all the formalities of
transfer of the said property then the said seller shall be liable to pay the amount of earnest money (INR.
80000/- Eighty Thousand Only), if paid by the purchaser, after deduction of applicable loss of per month
rental income from the said property, immediately upon the demand by the purchaser. INR. 6500/- (Six
Thousand five hundred only) per month shall be considered as present rate of rental income of the said
property.

10. That the accessories like fan, tubelight and other accessory as discussed are included in the
above stated cost and are in healthy condition and will handed over as in working condition.

11. That the second party found or come in coordination with the other charges/ Fines/ Fees which are
liable to post-purchases, after the procurement then the first party will be liable to pay the entire amount.

12. That the civil damages in the flat are to be rectified by the first party, if not the repair cost to be
deducted in the above said amount

Agreed and Signed by:

Seller: Purchaser:

Date : Date :
Nilesh Kumar Ranchhodbhai Pistolwala Nitesh Ishwar Acharya
Ahmedabad Bharuch