AND IT IS HEREBY MUTUALLY AGREED DECLARED AND RECORDED BY AND BETWEEN THE PARTIES HERETO as follows Sample Clauses

AND IT IS HEREBY MUTUALLY AGREED DECLARED AND RECORDED BY AND BETWEEN THE PARTIES HERETO as follows. 1) The properties benefits and rights hereby conveyed unto and in favour of the Allottee is and shall be one lot and shall not be partitioned or dismembered in part or parts and the Allottee shall also not claim any division, separate possession or partition in the Project Land or such land on which the entirety of the project Signum Parkwoods Estates shall be developed, towards its said Proportionate Undivided Share appurtenant to the said Apartment. It is further agreed and clarified that any transfer of the said Apartment by the Allottee shall not be in any manner inconsistent herewith and the covenants herein shall run with the land and the transferee of the Allottee shall be bound to abide by the rules and regulations framed for the Buildings and become a member of the Association. 2) All the apartments and other constructed areas as well as the other open and covered spaces in the Buildings, Phase I Land or the Project Land, as the case may be, until the same be disposed of by the Owners and the Promoter, shall remain the exclusive property of the Owners and the Promoter and the Allottee shall not claim any right or share therein. 3) After the allotment and transfer of all the apartments in the Signum Parkwoods Estates or earlier, as the case may be, the Association of the allottees shall be formed and the Allottee and the other Parkwoods allottees shall be the members thereof, each having voting rights therein in accordance with the Act and the Rules. The Allottee shall, alongwith the other Parkwoods allottees, sign and execute all papers, documents, declarations and applications for the purpose of formation of the Association and its taking charge of the acts relating to the Common Purposes. 4) In terms of the Real Estate (Regulation and Development) Act, 2016, the Owner/Promoter is, inter alia, required to execute a registered conveyance deed in respect of the apartment and parking Space/garage, if any, in favour of the Allottee and in respect of the undivided proportionate title in the common areas in favour of the Association. The West Bengal Apartment Ownership Act, 1972 mandates the formation of the Association but the process for such formation can be started only after grant of completion certificate. The Association shall have members who are owners of apartments and constructed areas in the Project. The Association is intended to be registered in due course (“Association” which expression shall mean and include the Association as finally r...
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Related to AND IT IS HEREBY MUTUALLY AGREED DECLARED AND RECORDED BY AND BETWEEN THE PARTIES HERETO as follows

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