Common use of FORMATION OF ASSOCIATION Clause in Contracts

FORMATION OF ASSOCIATION. 13.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective 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 (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, 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. 13.2 Each Apartment in the Project shall represent one (1) share, irrespective of the number of persons owning such Apartment. Further, in the event an 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. 13.3 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 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. 13.4 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 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 and payable 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. 13.5 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.

FORMATION OF ASSOCIATION. 13.1 36.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment owners lessees of units in the Project to form an association (“ASSOCIATIONAssociation of Allottees”)) hereinafter call the ‘Association’ which can be a joint association in common with other adjoining phases, 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 Association shall be bound to form a common maintenance body with all similar associations of all blocks/ buildings in the Other Components of the integrated township/Shristinagar for supervision of maintenance of the facilities common for occupants of the integrated township/Shristinagar (“Apex Body”). 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 leasehold interest in the Project Common Areas, Amenities and Facilities 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. 13.2 36.2 Each Apartment Unit in the Project shall represent one (1) share, irrespective of the number of persons owning holding such ApartmentUnit and irrespective of the same person holding more than one (1) Unit. Further, in the event an Apartment a Unit is owned held by more than one (1) person, then the Allottee 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 during the minority of the AllotteeAssociation. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 13.3 36.3 The Promoter shall 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 or the occupancy certificate, as the case may be, of the Project as provided in this Agreement. The cost of such maintenance has been included in the Total Consideration payable for the Apartment. 36.4 Upon formation of the Association, obtaining of the occupancy certificate and handing over of physical possession of the apartments to all the Allottees, the Promoter shall hand over handover 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 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 and /or Apex Body 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 Promoter, the Lessor and the Promoter Facility Management Company fully savedsafe, harmless and indemnified in respect thereof. 13.4 36.5 The Allottee agrees and undertakes to deposit INR [●] (Indian Rupees [●]) as a non-non- interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund corpus deposit (“Sinking FundCorpus Deposit”). The Allottee further agrees and acknowledges that such Sinking Fund Corpus Deposit shall be handed over to the Association and/or Apex Body by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or and the several other allottees Co-Lessees 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 /Apex Body on behalf of and on account of the Allottee and the other allottees several Co-Lessees of the ProjectProject inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association /Apex Body 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 Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund Corpus Deposit due to the above adjustments or otherwise after the handover of the Sinking Fund Corpus Deposit by the Promoter to the Association /Apex Body and the Allottee and the Association and/or Apex Body shall jointly and severally keep the Promoter indemnified for the same. 13.5 The 36.6 In case of failure of the Allottee acknowledges and agrees to allow pay the Maintenance Charges on or before the due date, the Allottee authorises the Promoter or the Association or the Apex Body, as the case may be, to adjust any receivables and/ or dues towards Common Charges and Expenses such outstanding amounts from the Sinking Fund before the same is handed over to the AssociationCorpus Deposit. 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 Corpus Deposit to the AssociationAssociation/ Apex Body. On any such adjustments being made from the Sinking FundCorpus Deposit, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund Corpus Deposit within 15 (fifteen) days of a demand made by the Association Association/Apex Body with respect thereto. 36.7 The Allottee hereby confirms and undertakes that the maintenance, management, upkeep and administration of the Common Areas and the other facilities, amenities and services being provided in the Project, and the collection of the maintenance, management charges, etc. from the lessees/occupiers of the apartments comprised in the Project, shall be carried out by a professionally qualified property management company (“Facility Management Company”). The Allottee, xxxxxx agrees to execute a tripartite agreement with the Facility Management Company and the Association and / or Apex Body, as may be intimated by the Promoter. 36.8 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, the Project and/or Shristinagar by the Promoter or the Association or the Facility Management Company or the Apex Body, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations. 36.9 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 Maintenance Charges 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-Lessees and/or Co-Occupiers in the Project. 36.10 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association or the Apex Body or the Facility Management Company, 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 or the Apex Body or the Facility Management Company, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association or the Apex Body or the Facility Management Company, as the case may be. 36.11 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association or the Apex Body or the Facility Management Company is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association or the Apex Body or the Facility Management Company, 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. 13.1 41.1 The Promoter shall, in accordance with Applicable Laws, being the West Bengal Apartment Ownership Act, 1972, call upon the respective apartment owners of the entire Project 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 (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, Amenities and Facilities 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. 13.2 41.2 Each Apartment Row Bungalow in the Project shall represent one (1) share, irrespective of the number of persons owning such ApartmentRow Bungalow. Further, in the event an Apartment is a Row Bungalowis owned by more than one person, then the Allottee 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 during the minority of the AllotteeAssociation. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 13.3 41.3 Upon formation of the Association, the Promoter shall hand over handover 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 / 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. 13.4 41.4 The Allottee agrees and undertakes to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the PromoterPromoter in the name of Aura Residents Association, which deposit shall be pooled into a treated as 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 or and the several other allottees Co-Buyers 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 several Co-Buyers of the ProjectProject 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. The 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. 13.5 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. 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. 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 Project 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 Row Bungalow owners or occupiers of the Project. 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. 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 all the Phases 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. 41.12 The Promoter has already set up a Community Hall for use of the Allottees in the Project (the “COMMUNITY HALL”)in Phase I of the Project. The said 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 Aura Residents Association (interim maintenance body).

FORMATION OF ASSOCIATION. 13.1 12.1 The Promoter Co-Owner/Developer shall, in accordance with Applicable Laws, call upon the respective 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 (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, Amenities and Facilities Areas to the Association, including but not limited to stamp duty and registration costs, if any. The Allottee Purchasers hereby authorizes authorize the Promoter to Co-Owner/Developerto 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. 13.2 12.2 Each Apartment Apartment/unit in the Complex and/or the Project shall represent one (1) share, irrespective of the number of persons owning such Apartment/unit. Further, in the event an Apartment Apartment/unit is owned by more than one person, then the Allottee person whose name first appears in the nomenclature of this Agreement Conveyance as the Purchasers shall only be entitled to become a member of the Association. In the event theevent that the Allottee is a purchaser/s is/are minor, the local guardian of such minor minor/s shall become a member of the Association during the minority of the AllotteeAssociation. A tenant or licensee of the Allottee Purchasers shall not be entitled to become a member of the Association. 13.3 12.3 Upon formation of the Association, the Promoter Co-Owner/Developer shall hand over handover 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 / procured/ obtained/ entered into by the Promoter Co- Owner/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 PromotertheCo-Owner/Developer, and the Promoter Co-Owner/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. 13.4 12.4 The Allottee agrees Purchasers agree and undertakes undertake to deposit a non-interest bearing security deposit (as specified in the Payment Plan) with the PromoterCo-Owner/Developer, which deposit shall be pooled into a Sinking Fund (“Sinking Fund”). The Allottee agrees Purchasers further agree and acknowledges acknowledge that such Sinking Fund shall be handed over to the Association by the PromoterCo- Owner/Developer, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or Purchasers and the several other allottees Co-Buyers of the Project on account of outstanding maintenance and Common Charges and Expenses Complex to the PromoterCo-Owner/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 Purchasers and the other allottees several Co-Buyers and/or co-owners of the Project, inter alia, as a sinking fund. The Allottee undertakes Purchasers undertake to make good and pay to the Association all such amounts that may be deducted/adjusted as aforesaid by the Promoter as Co- Owner/Developeras due and payable by the Allottee Purchasers and/or to replenish any shortfalls caused on account of the AllotteePurchasers. The Promoter shall Further, it is hereby agreed that the Purchasersshall 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 theCo-Owner/Developer to the Association and the Allottee Purchasers and the Association shall jointly and severally keep the Promoter indemnified Co-Owner/Developerindemnified for the same. 13.5 12.5 The Allottee acknowledges Purchasers acknowledge and agrees agree to allow the Promoter Co-Owner/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 Purchasers hereby agrees agree and undertakes undertake to bear all taxes that may be levied on the Promoter Co-Owner/Developer on account of making such adjustments and/or on account of the Promoter transferringCo- Owner/Developertransferring/handing over the Sinking Fund to the Association. On any such adjustments being made from the Sinking Fund, the Allottee Purchasers hereby undertakes 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 Co-Owner/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 Co- Owner/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 Co-Owner/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 Co-Owner/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 Co-Owner/Developer or the Association is not paid within 2 (two) months from the date of the notice in this regard, the Co-Owner/Developeror 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. 13.1 36.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment owners lessees of units in the Project to form an association (“ASSOCIATIONAssociation of Allottees”)) hereinafter call the ‘Association’ which can be a joint association in common with other adjoining phases, 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 Association shall be bound to form a common maintenance body with all similar associations of all blocks/ buildings in the Other Components of the integrated township/Shristinagar for supervision of maintenance of the facilities common for occupants of the integrated township/Shristinagar (“Apex Body”). 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 leasehold interest in the Project Common Areas, Amenities and Facilities 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. 13.2 36.2 Each Apartment Unit in the Project shall represent one (1) share, irrespective of the number of persons owning holding such ApartmentUnit and irrespective of the same person holding more than one (1) Unit. Further, in the event an Apartment a Unit is owned held by more than one (1) person, then the Allottee 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 during the minority of the AllotteeAssociation. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 13.3 36.3 The Promoter shall 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 or the occupancy certificate, as the case may be, of the Project as provided in this Agreement. 36.4 Upon formation of the Association, obtaining of the occupancy certificate and handing over of physical possession of the Units to all the Allottees, the Promoter shall hand over handover 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 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 and /or Apex Body 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 Promoter, ADDA and the Promoter Facility Management Company fully savedsafe, harmless and indemnified in respect thereof. 13.4 36.5 The Allottee agrees and undertakes to deposit INR [●] (Indian Rupees [●]) as a non-non- interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund corpus deposit (“Sinking FundCorpus Deposit”). The Allottee further agrees and acknowledges that such Sinking Fund Corpus Deposit shall be handed over to the Association and/or Apex Body by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or and the several other allottees Co-Lessees 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 /Apex Body on behalf of and on account of the Allottee and the other allottees several Co-Lessees of the ProjectProject inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association /Apex Body 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 Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund Corpus Deposit due to the above adjustments or otherwise after the handover of the Sinking Fund Corpus Deposit by the Promoter to the Association /Apex Body and the Allottee and the Association and/or Apex Body shall jointly and severally keep the Promoter indemnified for the same. 13.5 The 36.6 In case of failure of the Allottee acknowledges and agrees to allow pay the Maintenance Charges on or before the due date, the Allottee authorises the Promoter or the Association or the Apex Body, as the case may be, to adjust any receivables and/ or dues towards Common Charges and Expenses such outstanding amounts from the Sinking Fund before the same is handed over to the AssociationCorpus Deposit. 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 Corpus Deposit to the AssociationAssociation/ Apex Body. On any such adjustments being made from the Sinking FundCorpus Deposit, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund Corpus Deposit within 15 (fifteen) days of a demand made by the Association Association/Apex Body with respect thereto. 36.7 The Allottee hereby confirms and undertakes that the maintenance, management, upkeep and administration of the Common Areas and the other facilities, amenities and services being provided in the Project, and the collection of the maintenance, management charges, etc. from the lessees/occupiers of the apartments comprised in the Project, shall be carried out by a professionally qualified property management company (“Facility Management Company”). The Allottee, xxxxxx agrees to execute a tripartite agreement with the Facility Management Company and the Association and / or Apex Body, as may be intimated by the Promoter. 36.8 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, the Project and/or Shristinagar by the Promoter or the Association or the Facility Management Company or the Apex Body, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations. 36.9 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 Maintenance Charges 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-Lessees and/or Co-Occupiers in the Project. 36.10 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association or the Apex Body or the Facility Management Company, 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 or the Apex Body or the Facility Management Company, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association or the Apex Body or the Facility Management Company, as the case may be. 36.11 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association or the Apex Body or the Facility Management Company is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association or the Apex Body or the Facility Management Company, 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. 13.1 9.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment owners lessees of units in the Project to form an association (“ASSOCIATIONAssociation”)) which can be a joint association in common with other adjoining phases, 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 Association shall be bound to form a common maintenance body with all similar associations of all blocks/ buildings in the Other Components of the integrated township/Shristinagar for supervision of maintenance of the facilities common for occupants of the integrated township/Shristinagar (“Apex Body”). 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, Apex Body and (ii) transfer of leasehold interest in the Project Common Areas, Amenities and Facilities 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. 13.2 9.2 Each Apartment Unit in the Project shall represent one (1) share, irrespective of the number of persons owning holding such ApartmentUnit and irrespective of the same person holding more than one (1) Unit. Further, in the event an Apartment a Unit is owned held by more than one (1) person, then the Allottee 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 during the minority of the AllotteeAssociation. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 13.3 9.3 The Promoter shall 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 or the occupancy certificate, as the case may be, of the Project as provided in this Agreement. The cost of such maintenance has been included in the Total Consideration payable for the Apartment. 9.4 Upon formation of the Association, obtaining of the occupancy certificate and handing over of physical possession of the apartments to all the Allottees, the Promoter shall hand over handover 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 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 Promoter, the Lessor and the Promoter Facility Management Company fully savedsafe, harmless and indemnified in respect thereof. 13.4 9.5 The Allottee agrees and undertakes to deposit INR [●] (Indian Rupees [●]) as a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund corpus deposit (“Sinking FundCorpus Deposit”). The Allottee further agrees and acknowledges that such Sinking Fund Corpus Deposit shall be handed over to the Association /Apex Body by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or and the several other allottees Co-Lessees 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 Association/Apex Body on behalf of and on account of the Allottee and the other allottees several Co-Lessees of the ProjectProject inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association /Apex Body 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 Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund Corpus Deposit due to the above adjustments or otherwise after the handover of the Sinking Fund Corpus Deposit by the Promoter to the Association / Apex Body and the Allottee and the Association or Apex Body shall jointly and severally keep the Promoter indemnified for the same. 13.5 The 9.6 In case of failure of the Allottee acknowledges and agrees to allow pay the Promoter to adjust any receivables and/ or dues towards Common Charges and Expenses on or before the due date, the Allottee authorises the Promoter or the Association or the Apex Body, as the case may be, to adjust such outstanding amounts from the Sinking Fund before the same is handed over to the AssociationCorpus Deposit. 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 Corpus Deposit to the Association/Apex Body. On any such adjustments being made from the Sinking FundCorpus Deposit, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund Corpus Deposit within 15 (fifteen) days of a demand made by the Association Association/Apex Body with respect thereto. 9.7 The Promoter and/or the Association and /or Apex Body, as the case may be, shall be entitled to invest the Corpus Deposit in such securities and in such manner as the Promoter and/or Association and/or Apex Body, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Project and such payment towards the Corpus Deposit shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 9.8 The Allottee hereby confirms and undertakes that the maintenance, management, upkeep and administration of the Common Areas and the other facilities, amenities and services being provided in the Project, and the collection of the maintenance, management charges, etc. including Common Charges and Expenses from the lessees/occupiers of the apartments comprised in the Project, shall be carried out by a professionally qualified property management company (“Facility Management Company”). The Allottee, hereby agrees to execute a tripartite agreement with the Facility Management Company and the Association and / or Apex Body, as may be intimated by the Promoter. 9.9 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, the Project and/or Shristinagar by the Promoter or the Association or the Facility Management Company or the Apex Body, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations. 9.10 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-Lessees and/or Co-Occupiers in the Project. 9.11 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association or the Apex Body or the Facility Management Company, 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 or the Apex Body or the Facility Management Company, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association or the Apex Body or the Facility Management Company, as the case may be. 9.12 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association or the Apex Body or the Facility Management Company is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association or the Apex Body or the Facility Management Company, 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. 13.1 36.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment owners lessees of units in the Project to form an association (“ASSOCIATIONAssociation of Allottees”)) hereinafter call the ‘Association’ which can be a joint association in common with other adjoining phases, 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 Association shall be bound to form a common maintenance body with all similar associations of all blocks/ buildings in the Other Components of the integrated township/Shristinagar for supervision of maintenance of the facilities common for occupants of the integrated township/Shristinagar (“Apex Body”). 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 leasehold interest in the Project Common Areas, Amenities and Facilities 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. 13.2 36.2 Each Apartment Unit in the Project shall represent one (1) share, irrespective of the number of persons owning holding such ApartmentUnit and irrespective of the same person holding more than one (1) Unit. Further, in the event an Apartment a Unit is owned held by more than one (1) person, then the Allottee 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 during the minority of the AllotteeAssociation. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 13.3 36.3 The Promoter shall 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 or the occupancy certificate, as the case may be, of the Project as provided in this Agreement. 36.4 Upon formation of the Association, obtaining of the occupancy certificate and handing over of physical possession of the apartments to all the Allottees, the Promoter shall hand over handover 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 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 and /or Apex Body 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 Promoter, ADDA and the Promoter Facility Management Company fully savedsafe, harmless and indemnified in respect thereof. 13.4 36.5 The Allottee agrees and undertakes to deposit INR [●] (Indian Rupees [●]) as a non-non- interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund corpus deposit (“Sinking FundCorpus Deposit”). The Allottee further agrees and acknowledges that such Sinking Fund Corpus Deposit shall be handed over to the Association and/or Apex Body by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or and the several other allottees Co-Lessees 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 /Apex Body on behalf of and on account of the Allottee and the other allottees several Co-Lessees of the ProjectProject inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association /Apex Body 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 Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund Corpus Deposit due to the above adjustments or otherwise after the handover of the Sinking Fund Corpus Deposit by the Promoter to the Association /Apex Body and the Allottee and the Association and/or Apex Body shall jointly and severally keep the Promoter indemnified for the same. 13.5 The 36.6 In case of failure of the Allottee acknowledges and agrees to allow pay the Maintenance Charges on or before the due date, the Allottee authorises the Promoter or the Association or the Apex Body, as the case may be, to adjust any receivables and/ or dues towards Common Charges and Expenses such outstanding amounts from the Sinking Fund before the same is handed over to the AssociationCorpus Deposit. 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 Corpus Deposit to the AssociationAssociation/ Apex Body. On any such adjustments being made from the Sinking FundCorpus Deposit, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund Corpus Deposit within 15 (fifteen) days of a demand made by the Association Association/Apex Body with respect thereto. 36.7 The Allottee hereby confirms and undertakes that the maintenance, management, upkeep and administration of the Common Areas and the other facilities, amenities and services being provided in the Project, and the collection of the maintenance, management charges, etc. from the lessees/occupiers of the apartments comprised in the Project, shall be carried out by a professionally qualified property management company (“Facility Management Company”). The Allottee, xxxxxx agrees to execute a tripartite agreement with the Facility Management Company and the Association and / or Apex Body, as may be intimated by the Promoter. 36.8 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, the Project and/or Shristinagar by the Promoter or the Association or the Facility Management Company or the Apex Body, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations. 36.9 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 Maintenance Charges 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-Lessees and/or Co-Occupiers in the Project. 36.10 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association or the Apex Body or the Facility Management Company, 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 or the Apex Body or the Facility Management Company, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association or the Apex Body or the Facility Management Company, as the case may be. 36.11 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association or the Apex Body or the Facility Management Company is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association or the Apex Body or the Facility Management Company, 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. 13.1 38.1 The Promoter shallmay, in accordance with Applicable Lawsapplicable laws, call upon the respective apartment owners to form associations in a phase wised manner. The allottees of Phase I shall form an association (“ASSOCIATION”)and the Phase 1 Common Areas, Amenities and Facilities shall be handed over to such Phase I Association. Similarly the Project Common Areas, Amenities and Facilities shall be handed over to the association of apartment owners of the Project. The Parkwoods Common Areas, Amenities and Facilities shall be handed over to the Federation of all the respective Associations in the Project Signum Parkwoods Estate and it shall be incumbent upon the Allottee to join the Association respective 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 (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 Parkwoods Common Areas, Amenities and Facilities to the AssociationFederation, 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 applicable laws and all the rules, regulations, guidelines, etc. formulated from time to time by the Association. 13.2 38.2 Each Apartment apartment in the Project shall represent one (1) share, irrespective of the number of persons owning such Apartmentapartment. Further, in the event an Apartment 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. 13.3 Upon 38.3 The Promoter shall hand over the Phase I Common Areas, Amenities and Facilities and the Project Common Areas, Amenities and Facilities to the respective associations in the manner aforesaid and upon formation of the AssociationFederation, the Promoter shall hand over the Project Parkwoods Common Areas, Amenities and Facilities together with the relevant documents and plans pertaining thereto, to the Association Federation 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 Associations and/or the Federation, as the case may be, 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 Associations and/or the Federation, as the case may be, 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 Associations/Federation shall keep each of the Owners and the Promoter fully saved, harmless and indemnified in respect thereof. 13.4 38.4 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 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 common charges and Expenses expenses to the Promoter, together with interest thereonxxxxxxx. 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 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. 13.5 38.5 The Allottee acknowledges and agrees to allow the Promoter to adjust any receivables and/ or dues towards Common Charges common charges and Expenses 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 respective 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. 38.6 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 buildings 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. 38.7 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 co-buyers and/or co-occupiers in the Project. 38.8 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. 38.9 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. 38.10 It has been agreed by the parties that the Association(s) of all the allottees of all the buildings in Parkwoods as and when the same is completed in its entirety shall own in common all common areas, amenities and facilities of the Parkwoods together with all easement rights and appurtenances belonging thereto.

FORMATION OF ASSOCIATION. 13.1 9.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment owners lessees of units in the Project to form an association (“ASSOCIATIONAssociation”)) which can be a joint association in common with other adjoining phases, 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 Association shall be bound to form a common maintenance body with all similar associations of all blocks/ buildings in the Other Components of the integrated township/Shristinagar for supervision of maintenance of the facilities common for occupants of the integrated township/Shristinagar (“Apex Body”). 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 leasehold interest in the Project Common Areas, Amenities and Facilities 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. 13.2 9.2 Each Apartment Unit in the Project shall represent one (1) share, irrespective of the number of persons owning holding such ApartmentUnit and irrespective of the same person holding more than one (1) Unit. Further, in the event an Apartment a Unit is owned held by more than one (1) person, then the Allottee 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 during the minority of the AllotteeAssociation. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 13.3 9.3 The Promoter shall 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 or the occupancy certificate, as the case may be, of the Project as provided in this Agreement. The cost of such maintenance has been included in the Total Consideration payable for the Apartment. 9.4 Upon formation of the Association, obtaining of the occupancy certificate and handing over of physical possession of the apartments to all the Allottees, the Promoter shall hand over handover 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 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 and /or Apex Body 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 Promoter, the Lessor and the Promoter Facility Management Company fully savedsafe, harmless and indemnified in respect thereof. 13.4 9.5 The Allottee agrees and undertakes to deposit INR [●] (Indian Rupees [●]) as a non-interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund corpus deposit (“Sinking FundCorpus Deposit”). The Allottee further agrees and acknowledges that such Sinking Fund Corpus Deposit shall be handed over to the Association and/or Apex Body by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or and the several other allottees Co-Lessees 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 /Apex Body on behalf of and on account of the Allottee and the other allottees several Co- Lessees of the ProjectProject inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association /Apex Body 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 Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund Corpus Deposit due to the above adjustments or otherwise after the handover of the Sinking Fund Corpus Deposit by the Promoter to the Association /Apex Body and the Allottee and the Association and/or Apex Body shall jointly and severally keep the Promoter indemnified for the same. 13.5 The 9.6 In case of failure of the Allottee acknowledges and agrees to allow pay the Promoter to adjust any receivables and/ or dues towards Common Charges and Expenses on or before the due date, the Allottee authorises the Promoter or the Association or the Apex Body, as the case may be, to adjust such outstanding amounts from the Sinking Fund before the same is handed over to the AssociationCorpus Deposit. 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 Corpus Deposit to the AssociationAssociation/ Apex Body. On any such adjustments being made from the Sinking FundCorpus Deposit, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund Corpus Deposit within 15 (fifteen) days of a demand made by the Association Association/Apex Body with respect thereto. 9.7 The Promoter and/or the Association and/or Apex Body, as the case may be, shall be entitled to invest the Corpus Deposit in such securities and in such manner as the Promoter and/or Association and/or the Apex Body, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Project and such payment towards the Corpus Deposit shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 9.8 The Allottee hereby confirms and undertakes that the maintenance, management, upkeep and administration of the Common Areas and the other facilities, amenities and services being provided in the Project, and the collection of the maintenance, management charges, etc. including Common Charges and Expenses from the lessees/occupiers of the apartments comprised in the Project, shall be carried out by a professionally qualified property management company (“Facility Management Company”). The Allottee, hereby agrees to execute a tripartite agreement with the Facility Management Company and the Association and / or Apex Body, as may be intimated by the Promoter. 9.9 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, the Project and/or Shristinagar by the Promoter or the Association or the Facility Management Company or the Apex Body, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations. 9.10 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-Lessees and/or Co-Occupiers in the Project. 9.11 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association or the Apex Body or the Facility Management Company, 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 or the Apex Body or the Facility Management Company, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association or the Apex Body or the Facility Management Company, as the case may be. 9.12 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association or the Apex Body or the Facility Management Company is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association or the Apex Body or the Facility Management Company, 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. 13.1 37.1 The Promoter shall, in accordance with Applicable Laws, call upon the respective apartment owners lessees of units in the Project to form an association (“ASSOCIATIONAssociation/Association of Allottees”)) which can be a joint association in common with other adjoining phases, 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 Association shall be bound to form a common maintenance body with all similar associations of all blocks/ buildings in the Other Components of the Larger Project for supervision of maintenance of the facilities common for occupants of the Larger Project (“Apex Body”). 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 leasehold interest in the Project Common Areas, Amenities and Facilities 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. 13.2 Each Apartment in 37.2 In the Project shall represent event a Unit is held by more than one (1) share, irrespective of the number of persons owning such Apartment. Further, in the event an Apartment is owned by more than one person, then the Allottee 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 during the minority of the AllotteeAssociation. A tenant or licensee of the Allottee shall not be entitled to become a member of the Association. 13.3 37.3 The Promoter shall be responsible to provide and maintain essential services in the Project till the taking over of the maintenance of the Project by the Association or the Maintenance Agency upon the issuance of the completion certificate or the occupancy certificate, as the case may be, of the Project as provided in this Agreement. The cost of such maintenance has been included in the Total Consideration payable for the Apartment. 37.4 Upon formation of the Association, obtaining of the occupancy certificate and handing over of physical possession of the apartments to all the Allottees, the Promoter shall hand over handover 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 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 and /or Apex Body 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 Promoter, the Lessor and the Promoter Maintenance Agency fully savedsafe, harmless and indemnified in respect thereof. 13.4 37.5 The Allottee agrees and undertakes to deposit INR [●] (Indian Rupees [●]) as a non-non- interest bearing security deposit (as specified in the Payment Plan) with the Promoter, which deposit shall be pooled into a Sinking Fund corpus deposit (“Sinking FundCorpus Deposit”). The Allottee further agrees and acknowledges that such Sinking Fund Corpus Deposit shall be handed over to the Association and/or Apex Body by the Promoter, without any interest, after adjusting/deducting therefrom all amounts then remaining due and payable by the Allottee or and the several other allottees Co-Lessees 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 /Apex Body on behalf of and on account of the Allottee and the other allottees several Co-Lessees of the ProjectProject inter alia as a sinking fund. The Allottee undertakes to make good and pay to the Association /Apex Body 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 Further, it is hereby agreed that the Promoter shall not be held liable, in any manner whatsoever, for any shortfall in the Sinking Fund Corpus Deposit due to the above adjustments or otherwise after the handover of the Sinking Fund Corpus Deposit by the Promoter to the Association /Apex Body and the Allottee and the Association and/or Apex Body shall jointly and severally keep the Promoter indemnified for the same. 13.5 The 37.6 In case of failure of the Allottee acknowledges and agrees to allow pay the Maintenance Charges on or before the due date, the Allottee authorises the Promoter or the Association or the Apex Body, as the case may be, to adjust any receivables and/ or dues towards Common Charges and Expenses such outstanding amounts from the Sinking Fund before the same is handed over to the AssociationCorpus Deposit. 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 Corpus Deposit to the AssociationAssociation/ Apex Body. On any such adjustments being made from the Sinking FundCorpus Deposit, the Allottee hereby undertakes to make good the resultant shortfall in the Sinking Fund Corpus Deposit within 15 (fifteen) days of a demand made by the Association Association/Apex Body with respect thereto. 37.7 The Promoter and/or the Association and/or Apex Body, as the case may be, shall be entitled to invest the Corpus Deposit in such securities and in such manner as the Promoter and/or Association and/or the Apex Body, as the case may be, may think fit and apply the income for the purpose of repairs, maintenance, security and upkeep of the Project and such payment towards the Corpus Deposit shall not absolve the Allottee of its obligation to pay the applicable maintenance charges in terms of this Agreement. 37.8 The Allottee hereby confirms and undertakes that the maintenance, management, upkeep and administration of the Common Areas and the other facilities, amenities and services being provided in the Project, and the collection of the maintenance, management charges, etc. from the lessees/occupiers of the apartments comprised in the Project, shall be carried out by a professionally qualified property management company (“Maintenance Agency”). The Allottee, xxxxxx agrees to execute a tripartite agreement with the Maintenance Agency and the Association and / or Apex Body, as may be intimated by the Promoter. 37.9 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, the Project and/or Larger Project i.e. Kanchanjanga Integrated Industrial Hub by the Promoter or the Association or the Maintenance Agency or the Apex Body, as the case may be, and in any event, by way of negative covenants, agrees not to act contrary to such rules and regulations. 37.10 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 Maintenance Charges 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-Lessees and/or Co-Occupiers in the Project. 37.11 Further, the Allottee agrees and undertakes to pay all necessary deposits/charges to the Promoter or the Association or the Apex Body or the Maintenance Agency, 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 or the Apex Body or the Maintenance Agency, as the case may be, each within such timelines as may be prescribed by the Promoter or the Association or the Apex Body or the Maintenance Agency, as the case may be. 37.12 Without prejudice to the rights available under this Agreement, in the event that any amount payable to the Promoter or the Association or the Apex Body or the Maintenance Agency is not paid within 2 (two) months from the date of the notice in this regard, the Promoter or the Association or the Apex Body or the Maintenance Agency, 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 along with interest at the rate of of State Bank of India MCLR plus 2 percent.