Common use of FORMATION OF ASSOCIATION Clause in Contracts

FORMATION OF ASSOCIATION. The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof.

FORMATION OF ASSOCIATION. 12.2.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 12.2.2 Each Apartment/unit in the Project shall represent one (1) share, irrespective of the number of persons owning such Apartment/unit. Further, in the event a Apartment/unit is owned by more than one person, then the person whose name first appears in the nomenclature of this Agreement as the Allottee shall only be entitled to become a member of the Association. In the event that the Allottee is a minor, the local guardian of such minor shall become a member of the Association. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 12.2.3 Upon formation of the Association, the Promoter shall hand over handover the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof thereof, and the Allottee and the Association shall keep each of the Owners Owner and the Promoter fully savedsafe, harmless and indemnified in respect thereof. 12.2.4 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund (“Sinking Fund”). The Allottee further agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee and the several Co-Buyers of the Project to the Promoter, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the several Co- Buyers of the Project inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Promoter to the Association and the Allottee and the Association shall jointly and severally keep the Promoter indemnified for the same. 12.2.5 The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Promoter transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 12.2.6 The Promoter and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Promoter and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Project. Such payment towards the Sinking Fund shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 12.2.7 The Allottee acknowledges that it/he/she shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Project by the Promoter or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the apartment owners or occupiers of the Building and/or the Project. 12.2.8 The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the Co-Buyers and/or Co-Occupiers in the Project. 12.2.9 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. 12.2.10 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts. 12.2.11 It has been agreed by the parties that the Assoiation(s) of all the Allottees of the Project as and when the Project is completed in its entirety shall own in common all common areas ,amenities and facilities of the Project together with all easement rights and appurtenances belonging thereto. 12.2.12 The Promoter proposes to set up a Community Hall for use of the Allottees in the Project (the “COMMUNITY HALL”) The Community Hall will form part of the Common Areas and will be handed over to the Association in due course. During the interim maintenance period, the Community Hall shall be managed by the Promoter either by itself or through its nominee and/or interim maintenance body.

FORMATION OF ASSOCIATION. 12.1 The Promoter Developer shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (hereinafter referred as the “ASSOCIATION”), and it shall be incumbent upon the Allottee Purchasers to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee Purchasers shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee Purchasers hereby authorizes authorize the Promoter Developer to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to Purchasers shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 12.2 Each Apartment/unit in the Complex and/or the Project shall represent one share, irrespective of the number of persons owning such Apartment/unit. Further, in the event an Apartment/unit is owned by more than one person, then the person whose name first appears in the nomenclature of this Conveyance as the Purchasers shall only be entitled to become a member of the Association. In the event that the purchaser/s is/are minor, the local guardian of such minor/s shall become a member of the Association. A tenant or licensee of the Purchasers shall not be entitled to become a member of the Association. 12.3 Upon formation of the Association, the Promoter Developer shall hand over handover the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter Developer and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project Complex and of upkeep of all fixtures, equipment and machinery provided by the PromoterDeveloper, and the Promoter Developer shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee Purchasers and the Association shall keep each of the Owners and the Promoter Promoters fully savedsafe, harmless and indemnified in respect thereof. 12.4 The Purchasers agree and undertake to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Developer, which deposit shall be pooled into a Sinking Fund (hereinafter referred as the “Sinking Fund”). The Purchasers further agree and acknowledge that such Sinking Fund shall be handed over to the Association by the Developer, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Purchasers and the several co-buyers of the Complex to the Developer, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Purchasers and the several co-buyers and/or co-owners of the Project, inter alia, as a sinking fund. The Purchasers undertake to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Developer as due and payable by the Purchasers and/or to replenish any shortfalls caused on account of the Purchasers. Further, it is hereby agreed that the Purchasers shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Developer to the Association and the Purchasers and the Association shall jointly and severally keep the Developer indemnified for the same. 12.5 The Purchasers acknowledge and agree to allow the Developer to adjust any receivables and/ or dues towards Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Purchasers hereby agree and undertake to bear all taxes that may be levied on the Developer on account of making such adjustments and/or on account of the Developer transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Purchasers hereby undertake to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 12.6 The Developer and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Developer and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Complex. Such payment towards the Sinking Fund shall not absolve the Purchasers of its obligation to pay the applicable maintenance charges in terms of this Conveyance. 12.7 The Purchasers acknowledge that they shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Complex by the Developer or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the apartment owners or occupiers of the Building and/or the Complex. 12.8 The Purchasers expressly agree and acknowledge that it is obligatory on the part of the Purchasers to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the co-buyers and/or co-occupiers in the Complex. 12.9 Further, the Purchasers agree and undertake to pay all necessary deposits/charges to the Developer or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoters. 12.10 Without prejudice to the rights available under this Conveyance, in the event that any amount payable to the Developer or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Developer or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts. 12.11 It has been agreed by the Parties that the Association(s) of all the Purchasers of all the buildings in the Complex as and when the Complex is completed in its entirety shall own in common all common areas, amenities and facilities of the Complex together with all easement rights and appurtenances belonging thereto.

FORMATION OF ASSOCIATION. The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured / obtained / entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof.

FORMATION OF ASSOCIATION. 10.1.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATIONAssociation”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 10.1.2 Each Unit in the Project shall represent one (1) share, irrespective of the number of persons owning such Unit. Further, in the event a Unit is owned by more than one (1) person, then the person whose name first appears in the nomenclature of this Agreement as the Allottee shall only be entitled to become a member of the Association. In the event that the Allottee is a minor, the local guardian of such minor shall become a member of the Association. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 10.1.3 The Promoter shall through itself and/or its maintenance body be responsible to provide and maintain essential services in the Project till the taking over of the maintenance of the Project by the Association upon the issuance of the completion certificate of the Project as provided in this Agreement. 10.1.4 Upon formation of the Association, the Promoter shall hand over handover the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, shall inter alia, alia become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof thereof, and the Allottee and the Association shall keep each of the Owners Owner and the Promoter fully savedsafe, harmless and indemnified in respect thereof. 10.1.5 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund (“Sinking Fund”). The Allottee further agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee and the several Co-Buyers of the Project to the Promoter, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the several Co-Buyers of the Project inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Promoter to the Association and the Allottee and the Association shall jointly and severally keep the Promoter indemnified for the same. 10.1.6 The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards the Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Promoter transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 10.1.7 The Promoter and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Promoter and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Project. Such payment towards the Sinking Fund shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 10.1.8 The Allottee acknowledges that it/he/she shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Project by the Promoter or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the apartment owners or occupiers of the Building and/or the Project. 10.1.9 The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the Co-Buyers and/or Co-Occupiers in the Project. 10.1.10 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. 10.1.11 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts.

FORMATION OF ASSOCIATION. 12.1 The Promoter Developer shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee Purchasers to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee Purchasers shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee Purchasers hereby authorizes authorize the Promoter Developer to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to Purchasers shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 12.2 Each Apartment/unit in the Complex and/or the Project shall represent one share, irrespective of the number of persons owning such Apartment/unit. Further, in the event an Apartment/unit is owned by more than one person, then the person whose name first appears in the nomenclature of this Conveyance as the Purchasers shall only be entitled to become a member of the Association. In the event that the purchaser/s is/are minor, the local guardian of such minor/s shall become a member of the Association. A tenant or licensee of the Purchasers shall not be entitled to become a member of the Association. 12.3 Upon formation of the Association, the Promoter Developer shall hand over handover the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter Developer and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project Complex and of upkeep of all fixtures, equipment and machinery provided by the PromoterDeveloper, and the Promoter Developer shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee Purchasers and the Association shall keep each of the Owners and the Promoter Promoters fully savedsafe, harmless and indemnified in respect thereof. 12.4 The Purchasers agree and undertake to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Developer, which deposit shall be pooled into a Sinking Fund (“Sinking Fund”). The Purchasers further agree and acknowledge that such Sinking Fund shall be handed over to the Association by the Developer, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Purchasers and the several Co-Buyers of the Complex to the Developer, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Purchasers and the several Co-Buyers and/or co-owners of the Project, inter alia, as a sinking fund. The Purchasers undertake to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Developer as due and payable by the Purchasers and/or to replenish any shortfalls caused on account of the Purchasers. Further, it is hereby agreed that the Purchasers shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Developer to the Association and the Purchasers and the Association shall jointly and severally keep the Developer indemnified for the same. 12.5 The Purchasers acknowledge and agree to allow the Developer to adjust any receivables and/ or dues towards Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Purchasers hereby agree and undertake to bear all taxes that may be levied on the Developer on account of making such adjustments and/or on account of the Developer transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Purchasers hereby undertake to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 12.6 The Developer and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Developer and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Complex. Such payment towards the Sinking Fund shall not absolve the Purchasers of its obligation to pay the applicable maintenance charges in terms of this Conveyance. 12.7 The Purchasers acknowledge that they shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Complex by the Developer or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the apartment owners or occupiers of the Building and/or the Complex. 12.8 The Purchasers expressly agree and acknowledge that it is obligatory on the part of the Purchasers to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the Co-Buyers and/or Co-Occupiers in the Complex. 12.9 Further, the Purchasers agree and undertake to pay all necessary deposits/charges to the Developer or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoters. 12.10 Without prejudice to the rights available under this Conveyance, in the event that any amount payable to the Developer or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Developer or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts. 12.11 It has been agreed by the parties that the Association (s) of all the Purchasers of all the buildings in the Complex as and when the Complex is completed in its entirety shall own in common all common areas, amenities and facilities of the Complex together with all easement rights and appurtenances belonging thereto.

FORMATION OF ASSOCIATION. 37.1 The Promoter Developer shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Project Common Areas Areas, Amenities and Facilities to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter Developer to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 37.2 Each Apartment in the Project shall represent one (1) share, irrespective of the number of persons owning such Apartment or the size of the Apartment. Further, in the event a Apartment is owned by more than one person, then the Allottee whose name first appears in this Agreement shall only be entitled to become a member of the Association. In the event that the Allottee is a minor, the local guardian of such minor shall become a member of the Association during the minority of the Allottee. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 37.3 Upon formation of the Association, the Promoter Developer shall hand over the Project Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand the Developer shall automatically stand discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter Developer fully saved, harmless and indemnified in respect thereof. 37.4 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Developer, which deposit shall be pooled into a Sinking Fund (“Sinking Fund”). The Allottee agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Developer, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or the several other allottees of the Project on account of outstanding maintenance and common charges and expenses to the Developer, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the other allottees of the Project. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Developer as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. The Developer shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Developer to the Association and the Allottee and the Association shall jointly and severally keep the Developer indemnified for the same. 37.5 The Allottee acknowledges and agrees to allow the Developer to adjust any receivables and/ or dues towards common charges and expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Developer on account of making such adjustments and/or on account of the Developer transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 37.6 The Allottee acknowledges that it/he/she shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Project by the Developer or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the Apartment owners or occupiers of the Project. 37.7 The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the common charges and expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the other allottees and/or -occupiers in the Project. 37.8 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Developer or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Developer or the Association, as the case may be, each within such timelines as may be prescribed by the Developer or the Association, as the case may be. 37.9 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Developer or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Allottee, subject to Applicable Laws, shall not be allowed to use and the enjoy the Project Common Areas, Amenities and Facilities and the Developer or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts including but not limited to claiming interest at the prevailing Prime Lending Rate of the State Bank of India plus two per cent per annum. 37.10 It has been agreed by the parties that the Association of all the allottees of the Project as and when the Project is completed in its entirety shall own in common all Project Common Areas, Amenities and Facilities together with all easement rights and appurtenances belonging thereto.

FORMATION OF ASSOCIATION. 12.2.1 The Promoter No 2 shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter No 2 to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 12.2.2 Each Said Unit in the Complex shall represent one (1) share, irrespective of the number of persons owning such unit. Further, in the event Said Unit is owned by more than one (1) person, then the person whose name first appears in the nomenclature of this Agreement as the Allottee shall only be entitled to become a member of the Association. In the event that the Allottee is a minor, the local guardian of such minor shall become a member of the Association. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 12.2.3 Upon formation of the Association, the Promoter No 2 shall hand over handover the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover DateHANDOVER DATE”). Save as provided herein, on and from the Handover Date, the Association shall, shall inter alia, alia become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter No 2 and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project Complex and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter No 2 shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof thereof, and the Allottee and the Association shall keep each of the Owners Owner and the Promoter fully savedsafe, harmless and indemnified in respect thereof. 12.2.4 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter No 2, which deposit shall be pooled into a Sinking Fund (“Sinking Fund”). The Allottee further agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Promoter No 2, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee and the several Co-Buyers of the Complex to the Promoter No 2 , together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the several Co-Buyers of the Complex inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter No 2as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. Further, it is hereby agreed that the Promoter No 2 shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Promoter No 2 to the Association and the Allottee and the Association shall jointly and severally keep the Promoter No 2 indemnified for the same. 12.2.5 The Allottee acknowledges and agrees to allow the Promoter No 2 to adjust any receivables and/ or dues towards the Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Promoter No 2 on account of making such adjustments and/or on account of the Promoter No 2 transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 12.2.6 The Promoter No 2 and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Promoter No 2 and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Complex. Such payment towards the Sinking Fund shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 12.2.7 The Allottee acknowledges that it/he/she shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Complex by the Promoter No 2 or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the apartment owners or occupiers of the Building and/or the Complex. 12.2.8 The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the Co-Buyers and/or Co-Occupiers in the Complex. 12.2.9 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter No 2 or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter No 2 or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter No 2 or the Association, as the case may be. 12.2.10 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter No 2 or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter No 2 or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts.

FORMATION OF ASSOCIATION. 35.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit owners apartment Owner to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. . 35.2 Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on . 35.3 The Promoter agrees and from the Handover Date, acknowledges that all interest free security deposit shall be handed over to the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee, on account of outstanding maintenance and Common Charges, Expenses, Taxes etc. to the Promoter, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the other Allottees of the Project. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. The Promoter shall upon such hand over stand automatically discharged not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of any liability and/or responsibility in respect thereof the Sinking Fund by the Promoter to the Association and the Allottee and the Association shall jointly and severally keep each the Promoter indemnified for the same. 35.4 The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards Common Charges and Expenses from the interest free deposits before the same is handed over to the Association. The Allottee hereby agrees and undertakes to pay all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Owners Promoter transferring/handing over the Sinking Fund and the interest free deposit to the Association. On any such adjustments being made from the Sinking Fund and interest free deposit. 35.5 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter fully savedor the Association, harmless as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. 35.6 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts. 35.7 It has been agreed by the parties that the Association(s) of all the Allottees of all the buildings in the Project as and indemnified when the Project is completed in respect thereofits entirety shall own in common all common areas , amenities and facilities of the Project together with all easement rights and appurtenances belonging thereto.

FORMATION OF ASSOCIATION. 12.1 The Promoter Developer shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee Purchasers to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee Purchasers shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee Purchasers hereby authorizes authorize the Promoter Developer to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to Purchasers shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 12.2 Each Apartment/unit in the Complex and/or the Project shall represent one share, irrespective of the number of persons owning such Apartment/unit. Further, in the event an Apartment/unit is owned by more than one person, then the person whose name first appears in the nomenclature of this Conveyance as the Purchasers shall only be entitled to become a member of the Association. In the event that the purchaser/s is/are minor, the local guardian of such minor/s shall become a member of the Association. A tenant or licensee of the Purchasers shall not be entitled to become a member of the Association. 12.3 Upon formation of the Association, the Promoter Developer shall hand over handover the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter Developer and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project Complex and of upkeep of all fixtures, equipment and machinery provided by the PromoterDeveloper, and the Promoter Developer shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee Purchasers and the Association shall keep each of the Owners and the Promoter Promoters fully savedsafe, harmless and indemnified in respect thereof.

FORMATION OF ASSOCIATION. 12.2.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 12.2.2 Each Said Unit in the Project shall represent one (1) share, irrespective of the number of persons owning such unit. Further, in the event Said Unit is owned by more than one (1) person, then the person whose name first appears in the nomenclature of this Agreement as the Allottee shall only be entitled to become a member of the Association. In the event that the Allottee is a minor, the local guardian of such minor shall become a member of the Association. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 12.2.3 Upon formation of the Association, the Promoter shall hand over handover the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover DateHANDOVER DATE”). Save as provided herein, on and from the Handover Date, the Association shall, shall inter alia, alia become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof thereof, and the Allottee and the Association shall keep each of the Owners Owner and the Promoter fully savedsafe, harmless and indemnified in respect thereof. 12.2.4 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund (“Sinking Fund”). The Allottee further agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee and the several Co-Buyers of the Phase I to the Promoter, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the several Co-Buyers of the Phase I inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Promoter to the Association and the Allottee and the Association shall jointly and severally keep the Promoter indemnified for the same. 12.2.5 The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards the Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Promoter transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 12.2.6 The Promoter and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Promoter and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Phase I. Such payment towards the Sinking Fund shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 12.2.7 The Allottee acknowledges that it/he/she shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Project by the Promoter or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the apartment owners or occupiers of the Building and/or the Project. 12.2.8 The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the Co-Buyers and/or Co-Occupiers in the Project. 12.2.9 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. 12.2.10 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter No 2 or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts.

FORMATION OF ASSOCIATION. 41.1 The Promoter shall, in accordance with Applicable Laws, , call upon the respective apartment/unit Unit owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Complex Common Areas , Exclusive Floor Area (if any) and/or Exclusive Common Lobby (if any) to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 41.2 Each Unit in the Project shall represent one (1) share, irrespective of the number of persons owning such Unit. Further, in the event a Unit is owned by more than one person, then the person whose name first appears in the nomenclature of this Agreement as the Allottee shall only be entitled to become a member of the Association. In the event that the Allottee is a minor, the local guardian of such minor shall become a member of the Association. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 41.3 Upon formation of the Association, the Promoter shall hand over handover the Complex Common AreasAreas , Amenities and Facilities Exclusive Floor Area(if any) and/or Exclusive Common Lobby (if any), together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the PromoterPromoter , and the Promoter shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof thereof, and the Allottee and the Association shall keep each of the Owners Owner and the Promoter fully savedsafe, harmless and indemnified in respect thereof. 41.4 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter in the name of the Association/Maintenance Company, which deposit shall be treated as Sinking Fund/ Maintenance Deposit (“Sinking Fund”). The Allottee further agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee and the several Co-Buyers of the Project/ Commercial Complex to the Promoter, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the several Co-Buyers and/or co-owners of the Project, inter alia, as a sinking fund. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Promoter to the Association and the Allottee and the Association shall jointly and severally keep the Promoter indemnified for the same. 41.5 The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Promoter transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 41.6 The Promoter and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Promoter and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Project/ Commercial Complex. Such payment towards the Sinking Fund shall not absolve the 41.7 The Allottee acknowledges that it/he/she shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Project by the Promoter or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the Unit owners or occupiers of the Building and/or the Project/ Commercial Complex. 41.8 The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the Co-Buyers and/or Co- Occupiers in the Project/ Commercial Complex. 41.9 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. 41.10 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts. 41.11 It has been agreed by the parties that the Association (s) of all the Allottees of the building in the Project as and when the Project is completed in its entirety shall own in common all Complex Common Areas ,Exclusive Floor Area (if any) and/or Exclusive Common Area (if any),amenities and facilities of the Project/ Commercial Complex together with all easement rights and appurtenances belonging thereto. 41.12 Till such time the Apartment Owners Association is formed and the maintenance of the building block is handed over to the Association, the Promoter shall look after the maintenance and for this purpose the Allottee shall pay to the Promoter ‘Supervision Charges’ calculated @ 15% on total CAM Cost per month for looking after the maintenance of the Project.

FORMATION OF ASSOCIATION. a. The Promoter Developer shall, in accordance with upon issuance of the by Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee Purchaser to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or and/ or membership and the other papers and documents necessary for the same. The Allottee Purchaser shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee Purchaser hereby authorizes the Promoter Developer to take all necessary steps in this connection on his/her/their/its behalf, and further further, the Allottee Purchaser agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. . b. Upon formation of the Association, the Promoter Developer shall hand over the Common Areas, Amenities Amenities, and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence subsistence, and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations obligations, etc., as may from time to time have been procured/obtained/entered into by the Promoter Developer and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment equipment, and machinery provided by the PromoterDeveloper, and the Promoter Developer shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee Purchaser and the Association shall keep each of the Owners and the Promoter Developer fully saved, harmless and indemnified in respect thereof. It is made clear that the Developer shall perform the preliminary step like convening the meeting of the Association thereafter the process of registration shall be initiated and completed by the Association itself and the Developer’s function shall be to provide the necessary documents as may be required for submission to the competent authority. All costs related to the formation of the Association shall be borne by the Purchaser proportionately.

FORMATION OF ASSOCIATION. The Promoter shall, in accordance with Applicable Laws, call upon the respective apartmentUnit/unit Apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof.

FORMATION OF ASSOCIATION. 12.2.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee Allottees to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee Allottees shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee Allottees hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its their behalf, and further the Allottee Allottees agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. . 12.2.2 Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured / obtained / entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee Allottees and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof. 12.2.3 The Allottees acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Allottees hereby agrees and undertakes to bear all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Promoter transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottees hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 12.2.4 The Allottees acknowledges that they shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Project by the Promoter or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the apartment owners or occupiers of the Building and/or the Project. 12.2.5 The Allottees expressly agrees and acknowledges that it is obligatory on the part of the Allottees to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the co-buyers and/or co-occupiers in the Project. 12.2.6 Further, the Allottees agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. 12.2.7 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts. 12.2.8 It has been agreed by the parties that the Association(s) of all the Allottees of all the buildings in the Project as and when the Project is completed in its entirety shall own in common all common areas , amenities and facilities of the Project together with all easement rights and appurtenances belonging thereto.

FORMATION OF ASSOCIATION. The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured / obtained / entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof.

FORMATION OF ASSOCIATION. The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Project Common Areas Areas, Amenities and Facilities to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. Upon formation of the Association, the Promoter shall hand over the Project Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand the Promoter shall automatically stand discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof. The Allottee agrees and undertakes to deposit a non-interest bearing security deposit(as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund (“Sinking Fund”). The Allottee agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or the several other allottees of the Project on account of outstanding maintenance and common charges and expenses to the Promoter, together with interest thereon. Such amount(s), if any thus transferred shall be held by the Association on behalf of and on account of the Allottee and the other allottees of the Project. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as due andpayable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee The Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Promoter to the Association and the Allottee and the Association shall jointly and severally keep the Promoter indemnified for the same. The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards common charges and expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Promotertransferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the common charges and expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the other allottees and/or -occupiers in the Project. Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association, as the case may be, including the interest-free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Allottee, subject to Applicable Laws, shall not be allowed to use and the enjoy the Project Common Areas, Amenities and Facilities and the Promoter or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts including but not limited to claiming interest at the prevailing Prime Lending Rate of the State Bank of India plus two per cent per annum. It has been agreed by the parties that the Association of all the allottees of the Project as and when the Project is completed in its entirety shall own in common all Project Common Areas, Amenities and Facilities together with all easement rights and appurtenances belonging thereto.

FORMATION OF ASSOCIATION. 40.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit owners Allottees to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Complex Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 40.2 Each Unit in the Project shall represent one (1) share, irrespective of the number of persons in possession of such Unit. Further, in the event a Unit is held by more than one person, then the person whose name first appears in the nomenclature of this Agreement as the Allottee shall only be entitled to become a member of the Association. In the event that the Allottee is a minor, the local guardian of such minor shall become a member of the Association. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 40.3 Upon formation of the Association, the Promoter shall hand over handover the Complex Common AreasAreas , Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the PromoterPromoter , and the Promoter shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof thereof, and the Allottee and the Association shall keep each of the Owners Assignor and the Promoter fully savedsafe, harmless and indemnified in respect thereof. 40.4 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter in the name of the Association/Maintenance Company, which deposit shall be treated as Sinking Fund/ Maintenance Deposit (“Sinking Fund”). The Allottee further agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee and the several Co-Buyers of the Project/ Commercial Complex to the Promoter, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the several Co- Buyers and/or co-Assignors of the Project, inter alia, as a sinking fund. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Promoter to the Association and the Allottee and the Association shall jointly and severally keep the Promoter indemnified for the same. 40.5 The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Promoter transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 40.6 The Promoter and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Promoter and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Project/ Commercial Complex. Such payment towards the Sinking Fund shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 40.7 The Allottee acknowledges that it/he/she shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the Building and/or the Project by the Promoter or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the Allottees or occupiers of the Building and/or the Project/ Commercial Complex. 40.8 The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the Co-Buyers and/or Co-Occupiers in the Project/ Commercial Complex. 40.9 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. 40.10 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts. 40.11 It has been agreed by the parties that the Association (s) of all the Allottees of the building in the Project as and when the Project is completed in its entirety shall own in common all Complex Common Areas , amenities and facilities of the Project/ Commercial Complex together with all easement rights and appurtenances belonging thereto.

FORMATION OF ASSOCIATION. 11.2.1 The Promoter shall, in accordance with Applicable Laws, call upon allottees of the respective apartment/unit owners to Residential Segment shall form an association (“ASSOCIATION”)and the Residential Common Areas, Amenities and it Facilities shall be handed over to such Association. The Allottee is aware that the Project Common Areas, Amenities and Facilities shall be maintained by a professional facility management company as may be appointed by the Promoter from time to time. It shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time-to-time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses (including but not limited to payment of proportionate Stamp Duty and Registration charges payable) for (i) formation of the Association, and (ii) transfer of the Project Common Areas to Areas, Amenities and Facilities, and the AssociationResidential Common Areas, including but not limited to stamp duty Amenities and registration costs, if anyFacilities. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws applicable laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. Upon . 11.2.2 The Promoter shall hand over the Project Common Areas, Amenities and Facilities in the manner aforesaid upon formation of the Association, the Promoter shall hand over the Project Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws applicable laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured / obtained / entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof. 11.2.3 So long as the maintenance of the Project Common Areas, Amenities and Facilities are not taken over by the association, the maintenance activities will be operated by the Promoter or through its nominees and the maintenance charges for the same shall be as may be decided by the Promoter or its maintenance agency for providing such maintenance. The Promoter shall also be entitled to a management fee calculated at 15% of the total maintenance charges together with applicable GST.

FORMATION OF ASSOCIATION. The Promoter shall7.1 As per the provisions of the Apartment Ownership Act, in accordance with Applicable Laws, call upon the respective apartment/unit owners to Company will form an association (“ASSOCIATIONAssociation”) in the Project for the purposes of maintenance, repair, management and administration of the Project and handover the maintenance of the Project to the said Association under the Applicable Laws. The Allottee(s), and it along with other independent floor owners in the Project, shall be incumbent upon the Allottee to join in forming the Association and registering the same with the Competent Authority, as a member and for this purpose may be required. The Allottee(s) shall also from time to time time, be required by the Company or the Association, to sign and execute the application for registration and/or membership and the other papers papers, instruments and documents necessary for in this regard and return the samesame to the Company or Association. The Allottee On the formation of Association, rights of the Allottee(s) to the common areas and facilities and Said Independent Floor Common Areas and Facilities in the Project shall pay be regulated by the necessary subscription and/or membership amounts, together with the proportionate costs Bye Laws and expenses for (i) formation other rules and regulations of the Association. 7.2 The Allottee(s) specifically recognizes that the Project comprises of three storied residential buildings and he is agreeing to purchase the Said Independent Floor situated therein. The Allottee(s) is aware that the Project requires proper and periodic maintenance and upkeep and unless the Said Project including its common areas, Said Independent Floor Common Areas and (ii) transfer Facilities are maintained in proper form with neat and clean environs, the full utility of the Project cannot be availed by the users/occupants. It is for these, amongst other reasons, that the Allottee(s) has agreed to purchase Said Independent Floor on the specific understanding that the provision of Maintenance Services and the right to use common areas and facilities, Said Independent Floor Common Areas and Facilities shall be subject to payment of Maintenance Charges by him/her/them, amongst other charges, as determined by the Company or the Association. The Association/Company, for the purposes of carrying out such Maintenance Services, shall employ/hire a Maintenance Agency (“Maintenance Agency”) appointed for the said purposes. The Allottee(s) shall be required to enter into a separate maintenance agreement with the Maintenance Agency (“Maintenance Agreement”), in the format provided to him by the Company, draft of which is given herein at AnnexureA which shall clearly specify the broad scope, terms and conditions for provisions of the Maintenance Services. The Allottee(s) also agrees that the Company shall have the right to change, modify, amend and impose additional conditions in the Maintenance Agreement at the time of its execution. The Allottee(s) agrees to comply with provisions of the Maintenance Agreement that may be entered into by him with the Maintenance Agency and further comply with all rules, regulations, directions etc. framed by Maintenance Agency and/or under the Applicable Laws with regard to provision of Maintenance Services in the Project. 7.3 The Allottee(s) hereby accepts that the provisions of such Maintenance Services and use and access to the Associationcommon areas and facilities and Said Independent Floor Common Areas and Facilities in the Project shall at all times be subject to payment of all costs, charges, fee etc. by whatever name called, including but not limited to stamp duty requisite IBMS, periodic 7.4 Charges, sinking funds etc. (“Maintenance Charges”) to the Maintenance Agency, as the case may be, and registration costsperformance of all conditions, if anycovenants, obligations and responsibilities of the Allottee(s) under this Allotment Letter. The Allottee hereby authorizes rates of maintenance and service charges shall be fixed by the Promoter Maintenance Agency. The rates shall be subject to take all necessary steps periodic revisions in this connection on his/her/their/its behalf, and further line with the Allottee agrees to comply with and/or adhere to all increase in the Applicable Laws and all the rules, regulations, guidelines, prices of commodities etc. formulated from time to time by the Associationas aforementioned. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided hereinThe Allottee(s) agrees that, on and from the Handover DatePossession Notice Date or the date of execution of the Deed, whichever is earlier, the Allottee(s) shall be liable to pay all such Maintenance Charges. 7.5 The Allottee(s) have specifically agreed that the allotment of the Said Independent Floor shall be subject to strict compliance of code of conduct that may be determined by the Maintenance Agency/Company/Association shallfor occupation, inter aliause, become operation hours of various Maintenance Services, general compliance for occupants of the Said Project, regulation as to entry/exit of the visitors, invitees, guests, security etc. 7.6 The Allottee(s) further agrees to deposit IBMS @ Rs.25/- per sq. ft./per sq. mtr. and agrees to keep it deposited with the Company/Association/Maintenance Agency and in the event the Allottee(s) fails to pay any maintenance xxxx then the Allottee(s) shall not be entitled to avail any Maintenance Services or use of common areas and facilities, Said Independent Floor Common Areas and Facilities and amount of such maintenance bills shall be adjustedin the first instance from the interest accrued on the IBMS and if such accrued interest falls short of the unpaid Maintenance Charges, the Maintenance Agency shall have the right to adjust the same from the principal amount of IBMS. In case due to the said adjustment, the principal amount of IBMS falls below the required amount, then the Allottee shall be liable and responsible to make good such shortfall within 15 (fifteen) days, failing which the Allottee shall be liable to pay interest @18% per annum on the unpaid amount for the complianceperiod of delay in payment after the due date. If the Allottee defaults in making the shortfall within a further period of 15 (fifteen) days, subsistence the Maintenance Agency shall have the right to withhold/discontinue the Maintenance Services for the Said Independent Floor, at any time, without any further notice. 7.7 That as and renewal when any plant, machinery, equipment etc. within the Project including but not limited to lifts, electric substation, pumps, fire-fighting equipment, any other plant/equipment of all licensescapital nature etc. requires replacement, insurancesup-gradation, annual maintenance contracts and other contracts, guarantees, warranties, obligations addition etc., as may from time to time have been procured/obtained/entered into by . the Promoter and the Association cost thereof shall be responsible for proper safety and maintenance contributed by all the Allottee(s) on Proportionate Basis. The Company or the Maintenance Agency shall have the sole authority to decide the necessity of the Project and of upkeep of all fixturessuch replacement, equipment and machinery provided by the Promoterup-gradation, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect addition etc. including its timings or cost thereof and the Allottee and Allottee(s) agrees to abide by the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereofsame.

FORMATION OF ASSOCIATION. The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. It is to be understood that Khushi Block 3 is an addition to the larger project/complex Khushi. Therefore, the Association to be formed will be formed including the larger project/complex Khushi. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof.

FORMATION OF ASSOCIATION. The Promoter shall, upon issuance of the in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or and/ or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities Amenities, and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured / obtained / entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof. It is made clear that the Promoter shall perform the preliminary step like convening the meeting of Association thereafter the process of registration shall be initiated and completed by the Association itself and the Promoter’s function shall be to provide the necessary documents as may be required for the purpose of submission to the competent authority. All costs related to formation of Association shall be borne by the Allottees proportionately.

FORMATION OF ASSOCIATION. The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary registrationand/ormembershipandtheotherpapersanddocumentsnecessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for for (i) formation of the Association, and (ii) transfer of the Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities Amenities, and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided herein, on and from the Handover Date, the Association shall, inter alia, become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured / obtained / entered into by the Promoter and the Association shall be responsible for proper safety and maintenance of the Project and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect thereof and the Allottee and the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof. The Allottee shall be considered under a condition of default, on the occurrence of the following events: a) In case the Allottee fails to make payment of demands as and when raised by the Promoter as per the Payment Plan, of any amount due and payable by the Allottee under this Agreement (including his/her/its proportionate share of taxes, levies and other outgoings) despite having been issued notice in that regard. It is further clarified that, reminders and or notices for payment of installments or notice for rectification of default as per the Payment Schedule shall also be considered as demand for the purpose of this clause. In such event the Allottee shall be liable to pay to the Promoter, interest on all unpaid amounts from the date the amount is payable by the Allottee. b) Without prejudice to the right of the Promoter to charge interest as per Clause 34.1(a)above, in case of default by the Allottee under Clause 34.1 (a) above continues for a period beyond 1 (one) month, even after several reminders from the side of the Promoter for rectification of default, in this regard, the Promoter, at its own option, may cancel the allotment of the Apartment in favor of the Allottee and terminate this Agreement and refund the money paid to the Promoter by the Allottee after deducting the booking amount out of the Total Price and after deduction of such other tax/levy as may be applicable at the time of such termination by the Promoter, and this Agreement and any liability of the Promoter shall thereupon stand terminated. PROVIDED HOWEVER that the Promoter at least 30 (thirty) days prior to such cancellation shall issue a Notice for Cancellation (Cancellation Notice) intimating the Allottee about its decision to cancel the allotment. c) On and from the date of refund of the amount as mentioned in Clauses 34.1 (a) and(b) above, as the case may be, this Agreement shall stand cancelled automatically without any further act from the Allottee and the Allottee shall have no right, title and/or interest on the Apartment, the Project and/or the Said Property or any part or portion thereof, and the Allottee shall further not be entitled to claim any charge on the Apartment and/or any part or portion thereof, in any manner whatsoever. The effect of such termination shall be binding and conclusive on the parties. For the avoidance of doubt, it is hereby clarified that the Promoter shall not be held liable, in any manner whatsoever, for any delay in receipt/non-receipt of and refund by the Allottee in accordance with the terms of this Agreement, for any reason, including but not limited to, any delay by postal authorities or due to a change in address of the Allottee (save as provided in this Agreement) or loss in transit. Defect liability of the Promoter and when the Promoter is not liable to correct the defect (if any found): In addition to Clause 13 above, it is agreed that in case any structural defect or any other defect in workmanship, quality or provision of services r any other obligations of the Promoter as per the Agreement for Sale relating to such development is brought to the notice of the Promoter within a period of 5 (five) years by the Allottee from the date of handing over possession, save those as mentioned in clause 33.5 sub-clause (a) below, it shall be the duty of the Promoter to rectify such defects without further charge, within 30 (thirty) days, and in the event of Promoter’s failure to rectify such defects within such time, the aggrieved Allottee shall be entitled to receive appropriate compensation in the manner as provided under applicable laws for the time being in force. (i) In addition to Clause 13 above, it is to be understood that the Promoter shall not be liable to rectify any defect occurring under the following circumstances: • If there are changes, modifications or alteration in plumbing pipes and fittings and fixtures or change of wall or floor tiles after the Allottee taking over possession of the said Unit and/or the Apartment, the Promoter will not take any responsibility of waterproofing, cracks or any defect in plumbing pipes and fittings and fixtures that have developed directly or indirectly due to such changes; • If there are changes, modifications or alteration in electrical lines and wirings after said possession unto the Allottee, the Promoter will not take any responsibility of any defect in electrical lines and wirings that have developed directly or indirectly due to such changes, modifications or alterations; • If there are changes, modifications or alterations in doors, windows or other related items, then the Promoter will not take responsibility of door locks or door alignment or seepage from windows or any other related defects arising directly or indirectly out of such changes, modifications or alterations; • If the Allottee after taking actual physical possession of the said Unit, executes interior decoration work including any addition and/or alteration in the layout of the internal walls of the said Unit by making any changes in the said Unit, then any defect like damp, hair line cracks, breakage in floor tiles or other defects arising as a direct or indirect consequence of such alterations or changes will not be entertained by the Promoter; • Different materials have different coefficient of expansion and contraction and as such because of this difference there are chances of cracks developing on joints of walls and RCC beams and columns. Any such cracks are normal in high rise buildings and needs to be repaired from time to time. Any cracks developedforreasonsotherthanasmentionedabovethePromotershallgetit rectified at its own cost. • If the materials and fittings and fixtures provided by the Promoter are not being maintained by the Allottee or his / her agents in the manner in which same is required to be maintained. • Any electrical fittings and/or gadgets or appliances or other fittings and fixtures provided by the Promoter in the Common Areas and/or in the said Unit going out of order or malfunctioning due to voltage fluctuations or other reasons not under the control of the Promoter and not amounting to poor workmanship or Manufacture thereof. • If the Architect certifies that such defects are not manufacturing defect or due to poor workmanship or poor quality. Notwithstanding anything hereinbefore contained it is hereby expressly agreed and understood that in case the Allottee, without first notifying the Promoter and without giving the Promoter the reasonable opportunity to inspect, assess and determine the nature of purported defect in the said Unit and/or the Apartment, alters the state and condition of the area of the purported defect, then the Promoter shall be relieved of its obligations contained in Clauses 13, 34.2 and its sub-clauses hereinabove. (ii) The Promoter/maintenance agency/Association of Allottee shall have the right of unrestricted access of all Common Areas, parking spaces for providing necessary maintenance services and the Allottee agrees to permit the Promoter / Association of Allottee and/or maintenance agency to enter into the said Unit and/or the Apartment or any part thereof, after due notice and during normal working hours, unless the circumstances warrant otherwise, with a view to set right any defect.

FORMATION OF ASSOCIATION. 7.1 The Promoter shallAllottee(s) is aware that the Project requires proper and periodic maintenance and upkeep and unless the Said Project including its Common Areas and Facilities are maintained in proper form with neat and clean environs, in accordance with Applicable Lawsthe full utility of the Project cannot be availed by the users /occupants. It is for these, call upon amongst other reasons, that the respective apartmentAllottee(s) has agreed to purchase Said Plot on the specific understanding that the provision of Maintenance Services and the right to use Common Areas and Facilities shall be subject to payment of Maintenance Charges by him/unit owners to form an association her/them, amongst other charges, as determined by the Company or the Association. The Association/Company, for the purposes of carrying out such Maintenance Services, shall employ/hire a maintenance agency (“ASSOCIATIONMaintenance Agency”) appointed for the said purposes. The Allottee(s) shall be required to enter into a separate maintenance agreement with the Maintenance Agency (“Maintenance Agreement”), in the format provided to him by the Company, draft of which is given herein at Annexure A which shall clearly specify the broad scope, terms and it shall be incumbent upon conditions for provisions of the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the sameMaintenance Services. The Allottee Allottee(s) also agrees that the Company shall pay have the necessary subscription and/or membership amountsright to change, together modify, amend and impose additional conditions in the Maintenance Agreement at the time of its execution. The Allottee(s) agrees to comply with provisions of the Maintenance Agreement that may be entered into by him with the proportionate costs Maintenance Agency and expenses for (ifurther comply with all rules, regulations, directions etc. framed by Maintenance Agency and/or under the Applicable Laws with regard to provision of maintenance services in the Project. 7.2 The Allottee(s) formation hereby accepts that the provisions of the Association, such Maintenance Services and (ii) transfer of use and access to the Common Areas and Facilities shall at all times be subject to the Associationpayment of all costs, charges, fee, subscription charges etc. by whatever name called, including but not limited to stamp duty requisite IBMS/security deposit, periodic maintenance charges, sinking funds etc.(“Maintenance Charges”) to the Maintenance Agency, as the case may be, and registration costsperformance of all conditions, if anycovenants, obligations and responsibilities of the Allottee(s) under this Agreement. The Allottee hereby authorizes rates of maintenance and service charges shall be fixed by the Promoter Maintenance Agency. The rates shall be subject to take all necessary steps periodic revisions in this connection on his/her/their/its behalf, and further line with the Allottee agrees to comply with and/or adhere to all increase in the Applicable Laws and all the rules, regulations, guidelines, prices of commodities etc. formulated from time to time by the Associationas aforementioned. Upon formation of the Association, the Promoter shall hand over the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover Date”). Save as provided hereinThe Allottee(s) agrees that, on and from the Handover DatePossession Notice Date the Allottee(s) shall be liable to pay all such Maintenance Charges. 7.3 The Allottee(s) have specifically agreed that the allotment of the Said Plot shall be subject to strict compliance of code of conduct that may be determined by the Maintenance Agency/Company for occupation, use, operation hours of various Maintenance Services, general compliance for occupants of the Said Project, regulation as to entry/exit of the visitors, invitees, guests, security etc. 7.4 The Allottee(s) further agrees to deposit IBMS @ Rs. 500/- per sq. yds.and agrees to keep it deposited with the Company/Association/Maintenance Agency and in the event the Allottee(s) fails to pay any maintenance bill then the Allottee(s) shall not be entitled to avail any Maintenance Services or use of Common Areas and Facilities and amount of such maintenance bills shall be adjusted in the first instance from the interest accrued on the IBMS and if such accrued interest falls short of the unpaid Maintenance Charges, the Association shallMaintenance Agency shall have the right to adjust the same from the principal amount of XXXX.Xx case due to the said adjustment, inter aliathe principal amount of IBMS falls below the required amount, become then the Allottee shall be liable and responsible to make good such shortfall within 15 (fifteen) days, failing which the Allottee shall be liable to pay interest @18% per annum on the unpaid amount for the complianceperiod of delay in payment after the due date. If the Allottee defaults in making the shortfall within a further period of 15 (fifteen) days, subsistence the Maintenance Agency shall have the right to withhold/discontinue the Maintenance Services for the Said Plot, at any time, without any further notice. 7.5 That as and renewal when any plant, machinery, equipment etc. within the Project including but not limited to electric substation, pumps, fire-fighting equipment, any other plant/equipment of all licensescapital nature etc. requires replacement, insurancesup- gradation, annual maintenance contracts and other contracts, guarantees, warranties, obligations addition etc., as may from time to time have been procured/obtained/entered into by . the Promoter and the Association cost thereof shall be responsible for proper safety and maintenance contributed by all the Allottee(s) on proportionate basis. The Company or the Maintenance Agency shall have the sole authority to decide the necessity of the Project and of upkeep of all fixturessuch replacement, equipment and machinery provided by the Promoterup-gradation, and the Promoter shall upon such hand over stand automatically discharged of any liability and/or responsibility in respect addition etc. including its timings or cost thereof and the Allottee and Allottee(s) agrees to abide by the Association shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereofsame.

FORMATION OF ASSOCIATION. 12.2.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment/unit apartment owners to form an association (“ASSOCIATION”), and it shall be incumbent upon the Allottee to join the Association as a member and for this purpose also from time to time sign and execute the application for registration and/or membership and the other papers and documents necessary for the same. The Allottee shall pay the necessary subscription and/or membership amounts, together with the proportionate costs and expenses for for (i) formation of the Association, and (ii) transfer of the Complex Common Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee hereby authorizes the Promoter to take all necessary steps in this connection on his/her/their/its behalf, and further the Allottee agrees to shall comply with and/or adhere to all the Applicable Laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 12.2.2 Each Said Unit in the Complex shall represent one (1) share, irrespective of the number of persons owning such unit. Further, in the event Said Unit is owned by more than one (1) person, then the person whose name first appears in the nomenclature of this Agreement as the Allottee shall only be entitled to become a member of the Association. In the event that the Allottee is a minor, the local guardian of such minor shall become a member of the Association. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 12.2.3 Upon formation of the Association, the Promoter shall hand over handover the Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association within such time period and in such manner as prescribed under Applicable Laws (hereinafter referred to as the “Handover DateHANDOVER DATE”). Save as provided herein, on and from the Handover Date, the Association shall, shall inter alia, alia become liable and responsible for the compliance, subsistence and renewal of all licenses, insurances, annual maintenance contracts and other contracts, guarantees, warranties, obligations etc., as may from time to time have been procured/obtained/procured/ obtained/ entered into by the Promoter and the Association shall be responsible take the responsibility for proper safety and maintenance of the Project Complex and of upkeep of all fixtures, equipment and machinery provided by the Promoter, and the Promoter shall upon such hand over immediately stand automatically discharged of any liability and/or responsibility in respect thereof thereof, and the Allottee and the Association shall keep each of the Owners Owner and the Promoter fully savedsafe, harmless and indemnified in respect thereof. 12.2.4 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be treated as Sinking Fund/Maintenance Deposit (“Sinking Fund”). The Allottee further agrees and acknowledges that such Sinking Fund shall be handed over to the Association by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee and the several co-buyers of the Complex to the Promoter,, together with interest thereon. Such amount(s), if any, thus transferred shall be held by the Association on behalf of and on account of the Allottee and the several Co-Buyers of the Complex inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as due and payable by the Allottee and/or to replenish any shortfalls caused on account of the Allottee. Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund due to the above adjustments or otherwise after the handover of the Sinking Fund by the Promoter to the Association and the Allottee and the Association shall jointly and severally keep the Promoter indemnified for the same. 12.2.5 The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards the Common Charges and Expenses from the Sinking Fund before the same is handed over to the Association. The Allottee hereby agrees and undertakes to bear all taxes that may be levied on the Promoter on account of making such adjustments and/or on account of the Promoter transferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund within 15 (fifteen) days of a demand made by the Association with respect thereto. 12.2.6 The Promoter and/or the Association, as the case may be, shall be entitled to invest the Sinking Fund in such securities and in such manner as the Promoter and/or Association, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Project/Complex. Such payment towards the Sinking Fund shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 12.2.7 The Allottee acknowledges that it/he/she shall be bound by the rules and regulations which may be framed in relation to maintenance and management of the building and/or the Project/Complex by the Promoter or the Association, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations which may be framed and/or be made applicable to all the apartment owners or occupiers of the Building and/or the Complex. 12.2.8 The Allottee expressly agrees and acknowledges that it is obligatory on the part of the Allottee to regularly and punctually make payment of the proportionate share of the Common Charges and Expenses and further acknowledges that non-payment of the same is likely to affect the maintenance and rendition of the common services, thus affecting the right of the co-buyers and/or co- occupiers in the Project/Complex. 12.2.9 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association, as the case may be, including the interest free security deposit(s) payable to the concerned statutory bodies/ authorities or other entities, each as may be determined by the Promoter or the Association, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association, as the case may be. 12.2.10 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association, as the case may be, shall also be entitled to take such further steps as it may reasonably determine for recovery of the said amounts.