Common use of Completion of Construction Clause in Contracts

Completion of Construction. The “Leasehold Improvements Completion Date” shall mean the date upon which the Leasehold Improvements are substantially complete in accordance with the Construction Drawings. The phrase “substantially complete” shall mean that all construction debris has been removed from the Leased Premises and the Leased Premises are reasonably clean, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord shall not be liable or responsible for any claims, damages or liabilities in connection therewith or by reason thereof. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items shall be set forth in a list prepared during a walkthrough inspection of the Leased Premises, such inspection to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial completion of the Leasehold Improvements in the Leased Premises has occurred or is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items to be substantially completed within thirty (30) days after said walkthrough inspection and Landlord and Tenant’s agreement on the Punch List Items. Additionally, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completion.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Flat completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 7/- per sft per month, being the average expected rent for the Schedule Flat. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Flat the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Flat or date of receipt of possession of the Leased Premises has occurred flat, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Flat including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, monthly maintenance charges payable to the Owners Association, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Flat as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other flats or blocks of flats as long as the Purchaser is able to enjoy possession of the Scheduled Flat without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary ware, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Flat. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed flat is handed over to the Purchaser in a brand new condition.

Completion of Construction. The “Leasehold Improvements Completion Date” shall mean the date upon which the Leasehold If any Improvements are under construction or not completed, Mortgagee shall have the right, upon the happening of any such Default, to enter into possession of the Mortgaged Property and perform any and all work and labor necessary to complete the Improvements substantially complete in accordance with the Construction Drawings. The phrase “substantially complete” shall mean that all construction debris has been removed from plans and specifications therefor and employ watchmen to protect the Leased Premises Mortgaged Property and the Leased Premises are reasonably clean, the Leasehold Improvements Improvements; all sums expended by Mortgagee for such purposes shall be deemed to have been completed paid to Mortgagor and secured by this Mortgage. For this purpose, Mortgagor hereby constitutes and appoints Mortgagee its true and lawful attorney-in-fact with full power of substitution to complete the Improvements in substantial accordance the name of Mortgagor, and hereby empowers said attorney or attorneys as follows: to use any funds of Mortgagor including any balance which may be held in escrow and any funds which may remain unadvanced hereunder for the purpose of completing the Improvements in the manner called for by the plans and specifications; to make such additions and changes and corrections in the plans and specifications which shall be necessary or desirable to complete the Improvements as Mortgagee deems necessary in its sole judgment and in substantially the manner contemplated by the plans and specifications; to employ such contractors, subcontractors, agents, architects and inspectors as shall be required for said purposes; to enforce or otherwise without limitation deal with any bonding or insurance company under any policy required hereunder as Mortgagor might do in its own behalf; to pay, settle or compromise all existing bills and claims which are or may be liens against the Mortgaged Property, or which may be necessary or desirable for the timely completion of the Improvements or the removal of liens and encumbrances; to execute all applications and certificates in the name of Mortgagor which may be required by any construction contract respecting the Improvements; to do any and every act with respect to the construction of the Improvements which Mortgagor may do in its own behalf; and to prosecute and defend all actions or proceedings in connection with the Construction Drawings therefor, except for Improvements on the completion Mortgaged Property and to take such action and require such performance as Mortgagee deems necessary. This power of Punch List Items (hereinafter defined), attorney shall be deemed to be a power coupled with an interest which cannot be revoked. Said attorney-in-fact shall also have power to prosecute and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for defend all actions or proceedings in connection with the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice construction of the date Improvements on which Landlord expects the Leased Premises Property and to be substantially complete take such action and ready for occupancyrequire such performance as is deemed necessary. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Mortgagee shall not be liable or responsible for any claimsloss sustained by Mortgagor resulting from Mortgagee’s failure to enforce the power of attorney granted herein or from any other act or omission of Mortgagee in managing the Property. Nor shall Mortgagee be obligated to perform or discharge nor does Mortgagee hereby undertake to perform or discharge any obligation, damages duty or liabilities liability with respect to the construction or completion of the Improvements and Mortgagor shall indemnify Mortgagee for, and hold Mortgagee harmless from, any and all liability, loss or damage which may or might be incurred in connection therewith the exercise or failure to exercise any of the rights granted to Mortgagee under this Section or by reason of the assignment to Mortgagee of the construction contract, architectural agreements, plans and specifications and other Contract Rights with respect to the Property. Should Mortgagee incur any such liability or in defense of any claims or demands relating thereto, the amount thereof, including costs, expenses and reasonable attorneys’ fees, shall be secured hereby and Mortgagor shall reimburse Mortgagee therefor immediately upon demand. The term “Punch List Items” It is further understood that this Section shall mean details not operate to place responsibility upon Mortgagee for the control, care, management or repair of constructionthe Property or for the carrying out the construction of the Improvements; nor shall it operate to make Mortgagee responsible or liable for any waste committed on the Property by the contractor or any other parties, decoration and mechanical adjustment whichor for any dangerous or defective condition of the Property, or for any negligence in the aggregatemanagement, are relatively minor in character and do not materially interfere with the use upkeep, repair or enjoyment control of the Leased Premises for the uses permitted Property resulting in Section 3 of this Lease Agreement. The Punch List Items shall be set forth in a list prepared during a walkthrough inspection of the Leased Premisesloss or injury or death to any contractor, such inspection to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial completion of the Leasehold Improvements in the Leased Premises has occurred subcontractor, licensee, invitee, employee, agent or is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items to be substantially completed within thirty (30) days after said walkthrough inspection and Landlord and Tenant’s agreement on the Punch List Items. Additionally, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionstranger.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Flat completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 8/- per sft per month, being the average expected rent for the Schedule Flat. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Flat the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Flat or date of receipt of possession of the Leased Premises has occurred flat, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Flat including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, monthly maintenance charges payable to the Owners Association, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Flat as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other flats or blocks of flats as long as the Purchaser is able to enjoy possession of the Scheduled Flat without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary xxxx, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Flat. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed flat is handed over to the Purchaser in a brand new condition.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Villa completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 6/- per sft per month, being the average expected rent for the Schedule Villa. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Villa the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Villa or date of receipt of possession of the Leased Premises has occurred villa, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Villa including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Villa as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other villas as long as the Purchaser is able to enjoy possession of the Scheduled Villa without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary xxxx, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Villa. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed villa is handed over to the Purchaser in a brand new condition.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor/ Xxxxxxxxx agrees to deliver the Scheduled Flat completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 8/- per sft per month, being the average expected rent for the Schedule Flat. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor/ Developer shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Flat the Vendor/ Developer shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor/ Developer shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Flat or date of receipt of possession of the Leased Premises has occurred flat, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Flat including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, monthly maintenance charges payable to the Owners Association, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor/ Developer proposes to complete the Scheduled Flat as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon-completion or delay in completion of other flats or blocks of flats as long as the Purchaser is able to enjoy possession of the Scheduled Flat without any reasonable let or hindrance. 11.6 The Vendor/ Developer at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary ware, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Flat. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed flat is handed over to the Purchaser in a brand new condition.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Flat completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 8/- per sft per month, being the average expected rent for the Schedule Flat. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Flat the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Flat or date of receipt of possession of the Leased Premises has occurred flat, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Flat including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, monthly maintenance charges payable to the Owners Association, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Flat as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other flats or blocks of flats as long as the Purchaser is able to enjoy possession of the Scheduled Flat without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary ware, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Flat. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed flat is handed over to the Purchaser in a brand new condition.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Villa completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 6/- per sft per month, being the average expected rent for the Schedule Villa. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Villa the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Villa or date of receipt of possession of the Leased Premises has occurred villa, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Villa including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Villa as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other villas as long as the Purchaser is able to enjoy possession of the Scheduled Villa without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary ware, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Villa. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed villa is handed over to the Purchaser in a brand new condition.

Completion of Construction. The A. Tenant shall not be permitted to, and shall not, open for business in the Premises until the “Leasehold Improvements Completion DateOpening Requirements” set forth below are met: 1. At least five (5) days prior to the opening of the Premises for business, Tenant shall mean have delivered to Landlord: (a) insurance certificates required by Article XI of the date upon which Lease; (b) copies of local business licenses and any other licenses required to operate in the Leasehold Improvements are substantially Premises; (c) a certificate of occupancy or its equivalent; and (d) all evidence typically required in the jurisdiction where the Park/Plaza Development is located to provide evidence of compliance with all applicable building and fire codes and all other government requirements; 2. Landlord shall have inspected the Premises to determine whether Xxxxxx's Work is complete in accordance with the Construction Drawings. The phrase “substantially complete” shall mean that all construction debris has been removed from requirements of the Leased Premises and the Leased Premises are reasonably clean, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), Lease and Landlord shall have obtained approved all such work; 3. Tenant or Tenant’s General Contractor shall have paid Landlord all outstanding amounts for work completed by Landlord on behalf of Tenant to include, but not be limited to, the work and delivered services itemized in this Exhibit B; and 4. Tenant shall have paid to Tenant a temporary certificate of occupancy Landlord all Minimum Annual Rental and Additional Rent which has then accrued under the Lease. No approval by Landlord shall make Landlord responsible for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice condition of the date on which Premises or constitute a representation by Landlord expects the Leased Premises to be substantially complete of compliance with any applicable requirements or constitute a waiver of any rights and ready for occupancyremedies that Landlord may have under this Lease or at law or in equity. If Tenant shall open the Leased Premises are in violation of the requirements of this Article VIII, such action by Tenant shall constitute a material default under this Lease. The Opening Requirements shall apply not ready only to Tenant’s initial construction, but to any subsequent opening after any temporary closure, casualty, damage or permitted alterations. B. Within fifteen (5) business days after completion of Tenant's Work, Tenant shall deliver to Landlord the following: 1. The final notarized original affidavit of Xxxxxx's General Contractor performing Xxxxxx's Work stating that Xxxxxx's Work has been completed in accordance with the Final Working Drawings and that all subcontractors, laborers and material suppliers engaged in furnishing materials or rendering services for occupancy Tenant's Work have been paid in full. 2. A final notarized original, unconditional waiver of lien with respect to the Premises executed by Xxxxxx's General Contractor and final notarized original, unconditional waiver of liens executed by each subcontractor, laborer and material supplier engaged in or supplying materials or services for Tenant's Work. All waivers of lien documents must contain, in every circumstance, a totally unconditional release. C. After Landlord’s inspection of Tenant’s Work in the Estimated Leased Premises Delivery Date for any reasonPremises, Landlord shall issue a punch list indicating those items not be liable or responsible for any claims, damages or liabilities in connection therewith or by reason thereof. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere compliance with the use Standards. Within fifteen (15) business days of receipt of said punch list, Tenant or enjoyment Xxxxxx’s General Contractor shall perform such work and notify Landlord of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items shall be set forth in a list prepared during a walkthrough inspection of the Leased Premises, such inspection to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial completion of the Leasehold Improvements in the Leased Premises has occurred or is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items to be substantially completed within thirty (30) days after said walkthrough inspection and Landlord and Tenant’s agreement on the Punch List Items. Additionally, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completion.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Flat completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 7/- per sft per month, being the average expected rent for the Schedule Flat. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Flat the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Flat or date of receipt of possession of the Leased Premises has occurred flat, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Flat including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, monthly maintenance charges payable to the Owners Association, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Flat as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other flats or blocks of flats as long as the Purchaser is able to enjoy possession of the Scheduled Flat without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary xxxx, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Flat. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed flat is handed over to the Purchaser in a brand new condition.

Completion of Construction. A. Upon completion of Tenant's Work and prior to opening the Premises for business, Tenant shall obtain from Landlord, a certificate which states that Tenant has complied with all opening requirements under this Lease ("Opening Certificate"). Tenant shall not be permitted to, and shall not, open the Premises for business in the kiosk until Landlord has delivered, and both Landlord and Tenant have signed the Opening Certificate. Tenant agrees that Landlord may withhold the Opening Certificate, based upon Landlord's good faith determination that Tenant has failed to satisfy all opening requirements under this Lease, until such time as, in the Landlord's sole opinion, Tenant has satisfied all opening requirements. Tenant further agrees that Landlord's withholding of the Opening Certificate shall not limit any of Tenant's obligations under this Lease and shall not subject Landlord to any claims or liability. No approval by Landlord shall make Landlord responsible for the condition of the kiosk or constitute a representation by Landlord of compliance with any applicable requirements or constitute a waiver of any rights and remedies that Landlord may have under this Lease or at law or in equity. If Tenant shall open the Premises in violation of the requirements of this section, such action by Tenant shall constitute a material default under this Lease. When Tenant opens the Premises for business, Tenant shall be deemed to have accepted the kiosk and agreed that it is in the condition, with respect to any of Landlord's obligations, which are required under this Lease. B. Tenant shall commence Tenant's Work promptly after Landlord's approval of the Final Working Drawings, and upon completion of Tenant's Work, Tenant shall deliver to Landlord the following: 1. Tenant's final notarized original affidavit that Tenant's Work has been completed to Tenant's satisfaction and in strict accordance with the Final Working Drawings and Tenant's Construction Requirements, which affidavit may be relied on by Landlord and any deliberate or negligent misstatement, or any false statement made by Tenant therein, shall constitute a breach of this Lease. 2. The “Leasehold Improvements Completion Date” final notarized original affidavit of the general contractor performing Tenant's Work to the effect that Tenant's Work has been fully completed in accordance with the Final Working Drawings and that all subcontractors, laborers and material suppliers engaged in furnishing materials or rendering services for Tenant's Work have been paid in full. 3. A final notarized original, unconditional waiver of lien with respect to the Premises executed by said general contractor and, if requested by Landlord, final notarized original, unconditional waiver of liens executed by every subcontractor, laborer and material supplier engaged in or supplying materials or services for Tenant's Work, said waiver of lien documents must, in every circumstance, be totally unconditional releases. C. Tenant shall mean begin the construction and/or installation of Tenant's Work immediately upon receipt of Landlord's final approval of Tenant's final plans for the kiosk, but not prior to the date upon which the Leasehold Improvements are substantially complete kiosk location is sufficiently completed to permit the commencement of Tenant's Work, which date shall be established by written notice from Landlord to Tenant. D. Tenant shall cause the completion of Tenant's Work and the installation of the items referred to in Part V of this Exhibit B no later than fifteen (15) thirty (30)calendar days after Landlord's delivery of the kiosk location to Tenant. E. Tenant shall open the kiosk for business as provided under the provisions of this Lease. F. Failure of Tenant to comply with the requirements of the preceding Sections C, D and E shall constitute a breach of this Lease which shall entitle Landlord, at its election and in addition to all other remedies set forth in this Lease, to take possession of the kiosk and either relet the same or terminate this Lease in accordance with the Construction DrawingsLease. The phrase “substantially complete” shall mean that Westfield America, Inc., Westfield Corporation, Inc., Westfield America Limited Partnership, Westfield America GP LLC, WEA Palm Desert LP, and any and all construction debris has been removed from of their respective parent organizations, partners, subsidiaries and affiliates together with any mortgagee, as their interests may appear. THIS GUARANTY (the Leased Premises "Guaranty") is made this 2nd day of October, 2003, by the undersigned ("Guarantor") to and the Leased Premises are reasonably clean, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion benefit of Punch List Items WEA PALM DESERT LP, a Delaware limited partnership, (hereinafter defined"Landlord"), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord shall not be liable or responsible for any claims, damages or liabilities in connection therewith or by reason thereof. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items shall be set forth in a list prepared during a walkthrough inspection of the Leased Premises, such inspection to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial completion of the Leasehold Improvements in the Leased Premises has occurred or is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items to be substantially completed within thirty (30) days after said walkthrough inspection and Landlord and Tenant’s agreement on the Punch List Items. Additionally, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completion.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Flat completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 7/- per sft per month, being the average expected rent for the Schedule Flat. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Flat the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Flat or date of receipt of possession of the Leased Premises has occurred flat, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Flat including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Flat as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other flats or blocks of flats as long as the Purchaser is able to enjoy possession of the Scheduled Flat without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary xxxx, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Flat. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed flat is handed over to the Purchaser in a brand new condition.

Completion of Construction. The “Leasehold Improvements Completion Date” shall mean Landlord will commence pursuing Landlord's Work as soon as reasonably possible following the date upon which mutual execution of the Leasehold Improvements are substantially complete in accordance letter of intent with the Construction Drawings. The phrase “substantially complete” shall mean that all construction debris has been removed from respect to the Leased Premises (the "Effective Date"). Landlord will use reasonable efforts to achieve substantial completion of Landlord's Work on or before nine months after the Effective Date (the "Target Date"), subject to Force Majeure Delays (defined below) and delays resulting from changes requested by Tenant or delays of Tenant (collectively, "Tenant Delays"). The commencement date (the "Commencement Date") will be that date that Landlord's Work in the Leased Premises are reasonably clean, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), is substantially complete and Landlord shall have obtained and has delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to Tenant, which will be no sooner than seven months after the Effective Date. If Landlord is unable to complete Landlord's Work on or before the Target Date as a result of no delays caused by Tenant, then Landlord will make temporary premises available to Tenant in the Building or other buildings located on Landlord's property in the vicinity of the Building ("Landlord's Property") all as determined by Landlord from time to time, at a Base Annual Rental rate to Tenant of $12.00 per square foot comprising the temporary premises, as reasonably determined by Landlord. Landlord does not guaranty that such temporary premises will be in one location, one building or contiguous. To the extent that construction delays are caused by change orders requested by Tenant, Landlord reserves the right to terminate the use of the temporary premises. Landlord will use reasonable efforts to substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord shall not be liable or responsible for any claims, damages or liabilities Landlord's Work in connection therewith or by reason thereof. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items shall be set forth in a list prepared during a walkthrough inspection of the Leased Premises, such inspection to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial completion of the Leasehold Improvements in the Leased Premises has occurred or is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items to be substantially completed within thirty (30) days after said walkthrough inspection and Landlord and Tenant’s agreement on the Punch List Items. Additionally, Landlord shall use its commercially reasonable efforts to obtain and deliver subject to Tenant a final Delays and Force Majeure Delays on or before the date that is 14 months after the Effective Date (permanent) certificate the "Outside Completion Date"). Subject to Tenant Delays and Force Majeure Delays, if Landlord fails to substantially complete Landlord's Work on or before the Outside Completion Date, then Tenant as its sole and exclusive remedy will have the right to terminate the Lease and recover damages equal to the Termination Damages (defined below). The Outside Completion Date will be automatically extended for any period of occupancy for Tenant Delays or Force Majeure Delays. "Termination Damages" means $200,000. "Force Majeure Delays" means delays resulting from acts of God, strike or labor troubles, unavailability of materials, inclement weather, lockouts, fuel or energy shortages, governmental restrictions, regulation, controls, actions or inaction, civil commotion, fire, national emergency, acts of war or terrorism, and any other cause of any kind beyond the Leased Premises within ninety reasonable control of Landlord (90) after substantial completionexcept the financial inability of Landlord to perform its obligations).

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Villa completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 6/- per sft per month, being the average expected rent for the Schedule Villa. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure– A. 11.3 That upon completion of construction of the Scheduled Villa the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Villa or date of receipt of possession of the Leased Premises has occurred villa, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Villa including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Villa as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other villas as long as the Purchaser is able to enjoy possession of the Scheduled Villa without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary xxxx, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Villa. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed villa is handed over to the Purchaser in a brand new condition.

Completion of Construction. The “Leasehold Improvements Completion Date” shall mean Upon completion of the date upon which building and improvements, including the Leasehold Improvements are substantially complete in accordance with the Construction Drawings. The phrase “substantially complete” shall mean that all construction debris has been removed from the Leased Premises and the Leased Premises are reasonably cleanpremises, the Leasehold Improvements have been completed architect supervising construction shall certify in substantial accordance with writing to Landlord and Tenant that the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially same are complete and ready for use and occupancy, Concurrently, Landlord and Tenant shall cooperate in securing proper certificates of occupancy or other permits which may be required prior to Tenant's commencing to transact business. ARTICLE V FINANCING AND SUBORDRNATION Landlord intends to finance the construction of the building and improvements. In the event Landlord cannot obtain financing acceptable to Landlord within three (3) months after completion and approval by Landlord and Tenant of plans and specification, Landlord may so notify Tenant, in writing, and this lease shall thereupon be void and Landlord shall refund to Tenant any sums paid by Tenant to Landlord. In the event that any institutional lender from which financing of the proposed building and improvements is sought shall request a modification of this lease or the execution and delivery of any supplemental agreement and Landlord shall communicate such request to Tenant, in writing, Tenant shall not unreasonable withhold its consent to and/or joinder in such a lease modification or supplemental agreement provided that Tenant's rights under this lease are not materially diminished and its obligations hereunder are not materially increased. Tenant agrees that this lease shall be subordinate to any mortgage or deed of trust that may hereafter be placed upon the leased premises and to any and all advances made or to be made under said obligations and to any. renewals, replacements and extensions thereof; such subordination, however, Is subject to the condition that Landlord shall require any mortgagee or beneficiary to agree that the mortgagee or beneficiary in such mortgage or deed of trust shall recognize this lease of Tenant and agree that in the event of sale or foreclosure under such mortgage or deed of trust, the purchaser shall take subject to this lease so long as Tenant is not in default under the terms of the lease. If any mortgagee or beneficiary elects to have this lease superior to its mortgage or deed of trust and if said mortgagee or beneficiary gives written notice of such election to Tenant, then this lease shall be superior to the Leased Premises are not ready for occupancy by lien of any such mortgage or deed of trust whether this lease is dated or recorded before or after the Estimated Leased Premises Delivery Date for any reason, Landlord shall not be liable date of said mortgage or responsible for any claims, damages or liabilities in connection therewith or by reason thereofdeed of trust. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in In the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment event of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items shall be set forth in a list prepared during a walkthrough inspection sale of the Leased Premisesproperty containing the premises, upon foreclosure or upon the exercise of a power of sale under any such inspection to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise mortgage or deed of trust, Tenant that substantial completion will, upon written request of the Leasehold Improvements in the Leased Premises has occurred or is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items to be substantially completed purchaser made within thirty (30) days after said walkthrough inspection such sale, attorn to the purchaser and recognize the purchaser as the Landlord and Tenant’s agreement on the Punch List Items. Additionally, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionunder this lease.

Completion of Construction. The “Leasehold Improvements Completion Date” shall mean the date upon which the Leasehold Improvements are substantially complete in accordance with the Construction Drawings. The phrase “substantially complete” shall mean that all construction debris has been removed from the Leased Premises schedules may be affected by processing delays and the Leased Premises are reasonably cleaninspections of governmental authorities, weather conditions, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion availability of Punch List Items (hereinafter defined)materials and qualified trade contractors, and Landlord shall have obtained other factors outside of Meritage’s control and, therefore, Meritage does not and delivered to Tenant cannot guarantee a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the completion date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord shall Meritage cannot be liable or held responsible for estimated completion dates that Buyer may, at any claimstime, damages receive from Meritage or liabilities in connection therewith any of its agents, employees, trade contractors, or by reason thereofsuppliers. The term “Punch List Items” shall mean details So long as Buyer has complied with all of constructionBuyer’s obligations under the Contract, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items shall be set forth in a list prepared during a walkthrough inspection of the Leased Premises, such inspection to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial completion of the Leasehold Improvements in the Leased Premises has occurred or is imminent. Landlord shall use its commercially Meritage will make reasonable efforts to cause initiate construction of the Punch List Items to be substantially completed Lot Improvements within thirty (30) days after said walkthrough inspection of the later to occur of: (i) the date on which Buyer supplies Meritage with evidence of Buyer’s “Loan Approval” (as defined in the Financing Addendum) and Landlord the satisfaction of any and Tenantall conditions and contingencies to which Buyer’s agreement on Loan Approval is subject, as applicable, as well as any other conditions and contingencies set forth in the Punch List ItemsContract; (ii) the date Buyer completes Buyer’s Selections and Options and delivers a Selection Order to Meritage, executed by Buyer and reflecting all of the Selections and Options made by Buyer (subject to acceptance by Meritage); and (iii) the date a building permit is obtained for the Lot Improvements; and Meritage thereafter will proceed with the construction of the Lot Improvements with reasonable diligence. AdditionallyMeritage agrees to complete construction of the Lot Improvements in the manner specified in the Contract by a date not later than two (2) years from the date Buyer signs this Agreement, Landlord subject, however, to delays caused by matters that are legally recognized as defenses to contract actions in the jurisdiction where the Lot Improvements are being constructed, including, but not limited to, delays caused by matters such as fire, flood, and labor or material shortages. Meritage shall use its commercially reasonable efforts have the right to obtain make such changes to the Home and/or to make deviations from the Plan and deliver in materials and locations as Meritage deems appropriate in order to Tenant construct the Home in accordance with applicable building codes, practices, and requirements. “Completion” of the Lot Improvements shall be deemed to occur upon the issuance of a final (permanent) certificate of occupancy for (or other similar document customary in the Leased Premises within ninety market in which the Home is located indicating that the Lot Improvements are habitable and able to be occupied) with respect to the Lot Improvements by the applicable governmental authority in which the Home is located, or other applicable inspection customary in the market in which the Home is located, which certificate (90) after or similar document or inspection), once issued, shall be deemed to confirm that the Lot Improvements are completed and built in substantial completionconformance with the Plan and applicable codes. Upon Completion of the Lot Improvements, Buyer’s refusal to accept the Lot Improvements as constructed shall constitute a material default by Buyer under the Contract, even if Punch List item remain in accordance with Section 8 below. By acquiring title to the Home at Closing, Buyer shall be deemed to have accepted the Home as constructed and subject to all changes and deviations that may exist from the Plan, and to have waived any and all rights and claims against Meritage with respect to any such changes and deviations, except to the extent such changes and deviations are conclusively determined to cause structural deficiencies in the Home.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Flat completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 6/- per sft per month, being the average expected rent for the Schedule Flat. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Flat the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Flat or date of receipt of possession of the Leased Premises has occurred flat, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Flat including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Flat as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other flats or blocks of flats as long as the Purchaser is able to enjoy possession of the Scheduled Flat without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary xxxx, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Flat. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed flat is handed over to the Purchaser in a brand new condition.

Completion of Construction. The “Leasehold Construction shall be deemed substantially completed at such time as the Building, other Improvements Completion Date” shall mean the date upon which the Leasehold and Tenant Improvements are substantially complete have been constructed in accordance with the Construction Drawings. The phrase Final Plans and Specifications, subject to “substantially completepunchlist” shall mean that all construction debris items, and a certificate of occupancy or equivalent has been removed obtained from the Leased Premises and City of Vista permitting Tenant to occupy the Leased Premises are reasonably cleanBuilding. “Punchlist” items shall be those items that, the Leasehold Improvements in Tenant’s reasonable judgment, (a) have not been completed in substantial accordance with the Construction Drawings thereforFinal Plans and Specifications, except for the completion of Punch List Items (hereinafter defined)as modified by any Change Order pursuant to Section 4.10, and Landlord shall (b) do not have obtained a material and delivered adverse effect on Tenant’s ability to Tenant a temporary certificate of occupancy use the Building for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reasonTenant’s intended purposes, Landlord shall not be liable or responsible for any claims, damages or liabilities in connection therewith or by reason thereof. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with increase the use cost of operating or enjoyment of maintaining the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items shall be set forth in a list prepared during a walkthrough inspection of the Leased Premises, such inspection to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial completion of the Leasehold Improvements in the Leased Premises has occurred or is imminentBuilding. Landlord shall agrees to use its commercially reasonable efforts to cause the Punch List Items General Contractor to be substantially completed complete the “punchlist” items identified pursuant to Paragraph 5 of the Fundamental Lease Provisions within thirty forty-five (3045) days after said walkthrough inspection the Commencement Date, and Landlord and in so doing, the General Contractor or a subcontractor shall complete same in such a manner as to not unreasonably or unnecessarily interfere with Tenant’s agreement on occupancy of, or ability to use, the Punch List ItemsBuilding. Additionally, Landlord shall use agrees that it will not release any retainage provided for under its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for contract with the Leased Premises General Contractor until all applicable “punchlist” items are completed. If the “punchlist” items are not completed within ninety (90) days after substantial completionthe Commencement Date, at Tenant’s written request, Landlord shall retain another contractor to complete the “punchlist” items, the costs of which shall be treated as part of the Total Project Costs. Notwithstanding the above, the Commencement Date shall be deemed to have occurred (and Monthly Base Rent shall commence) on the date that construction would have been completed (except for “punchlist” items) and a certificate of occupancy would have obtained but for delays caused by: (a) Change Orders requested by Tenant; (b) Tenant’s active interference with the construction of the Building, other Improvements and/or Tenant Improvements; and/or (c) delays in Tenant approving drawings and specifications, the budget, Change Orders and other matters required to be approved by Tenant pursuant to this Article 4 within the applicable time specified or, if no time is specified, within a reasonable period of time.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Flat completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 5/- per sft per month, being the average expected rent for the Schedule Flat. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Flat the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Flat or date of receipt of possession of the Leased Premises has occurred flat, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Flat including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Flat as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other flats or blocks of flats as long as the Purchaser is able to enjoy possession of the Scheduled Flat without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary xxxx, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Flat. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed flat is handed over to the Purchaser in a brand new condition.

Completion of Construction. 11.1 The “Leasehold Improvements Completion Date” shall mean Vendor agrees to deliver the Scheduled Villa completed in all respects on or before the date upon which mentioned in Annexure-A with a further grace period of 6 months. In case of delay beyond the Leasehold Improvements are substantially complete date of delivery and after a further grace period of 6 months the Purchaser shall be entitled to compensation for delay in accordance with completion at the Construction Drawingsrate of Rs. 7/- per sft per month, being the average expected rent for the Schedule Villa. The phrase “substantially complete” Purchaser shall mean that all construction debris be entitled to such a compensation for delay in completion, if and only if, the Purchaser has paid the entire sale consideration to the Vendor. The Purchaser agrees to limit their claims for delay in completion to the said amount. 11.2 The Vendor shall not be responsible for delay in completion in case of delay in payment by the Purchaser. In case of delay in payment of installments by the Purchaser to the Vendor, then the delay in payment in no. of days for each installment the payment has been removed from delayed shall be added to the Leased Premises date of completion mentioned in Annexure – A. 11.3 That upon completion of construction of the Scheduled Villa the Vendor shall intimate to the Purchaser the same at his last known address and the Leased Premises are reasonably cleanPurchaser shall be obliged to take possession thereof, subject to the condition that he has fulfilled all his obligations including payment of the entire consideration hereunder according to the terms hereof strictly. After such intimation, the Leasehold Improvements have been completed in substantial accordance with the Construction Drawings therefor, except for the completion of Punch List Items (hereinafter defined), and Landlord shall have obtained and delivered to Tenant a temporary certificate of occupancy for the Leased Premises. Landlord will give Tenant ten (10) days’ advance written notice of the date on which Landlord expects the Leased Premises to be substantially complete and ready for occupancy. If the Leased Premises are not ready for occupancy by the Estimated Leased Premises Delivery Date for any reason, Landlord Vendor shall not be liable or responsible for any claimsloss, damages theft, breakage, damages, trespass and the like and the Purchaser shall also be obliged to pay monthly maintenance charges to the Vendor or liabilities in connection therewith the respective society or by reason thereofAssociation. The term “Punch List Items” shall mean details of construction, decoration and mechanical adjustment which, in the aggregate, are relatively minor in character and do not materially interfere with the use or enjoyment of the Leased Premises for the uses permitted in Section 3 of this Lease Agreement. The Punch List Items Vendor shall be set forth in a list prepared during a walkthrough inspection of entitled to recover such dues, if any, from the Leased Premises, such inspection Purchaser. 11.4 That from the intimation as to be performed by Tenant’s and Landlord’s representatives within ten (10) days after Landlord shall advise Tenant that substantial possession or completion of the Leasehold Improvements in Scheduled Villa or date of receipt of possession of the Leased Premises has occurred villa, whichever is earlier the Purchaser shall be responsible for payment of all taxes, levies, rates, dues, duties charges, expenses, etc. that may be payable with respect to the Schedule Villa including municipal taxes, water and electricity charges either assessed/charged individually or collectively and such other taxes, etc. payable to the Government or other local bodies or any other concerned body or authority, etc. The Vendor shall be entitled to recover such dues, if any, from the Purchaser. 11.5 The Housing Project is imminent. Landlord shall use its commercially reasonable efforts to cause the Punch List Items proposed to be substantially completed within thirty (30) days after said walkthrough inspection in phases and Landlord the schedule date of completion of the entire Housing Project may not have been specified. The Vendor proposes to complete the Scheduled Villa as given above along with the basic common amenities and Tenant’s agreement on utility services. The Purchaser shall not raise any objection to the Punch List Itemsnon- completion or delay in completion of other villas as long as the Purchaser is able to enjoy possession of the Scheduled Villa without any reasonable let or hindrance. 11.6 The Vendor at his discretion may withhold the final finishing works like last coat of paint, floor polish, installation of CP and sanitary xxxx, etc. Additionallytill such time the Purchaser confirms his readiness to take possession of the Schedule Villa. However, Landlord shall use its commercially reasonable efforts to obtain and deliver to Tenant a final (permanent) certificate of occupancy for the Leased Premises within ninety (90) after substantial completionpurposes of determining the date of completion such final works which may not be completed shall not be considered. Further, it is agreed that the final finishing works shall be withheld to ensure that the completed villa is handed over to the Purchaser in a brand new condition.