Common use of Maintenance and Association Clause in Contracts

Maintenance and Association. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottees will be required to complete the formalities of becoming a member of the Association. The Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. In case the Allottees fails to pay: (i) the Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the Allottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the advance maintenance charges. If due to such adjustment the advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance xxxx. That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Vendor/ Developer (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto date.

Maintenance and Association. i) Maintenance Upon completion of the Project the Promoter Developer will hand over its management for maintenance to the Association for which the Allottees Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottees Allottee will be required to complete the formalities of becoming a member of the Association. The Allottees Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the PromoterDeveloper, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the PromoterDeveloper. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottees Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter Developer and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottees Allottee fails to pay: (i) the Allottees Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5%% per annum month will become payable by the AllotteesAllottee; and (iii) the PromoterDeveloper/Association shall adjust the unpaid amount from the advance maintenance chargesAdvance Maintenance Charges. If due to such adjustment the advance maintenance charges Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottees Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance xxxx. That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Vendor/ Developer (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto date.

Maintenance and Association. Maintenance Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottees Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottees Allottee will be required to complete the formalities of becoming a member of the Association. The Allottees Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be shallbe payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottees Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottees Allottee fails to pay: (i) the Allottees Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5]% per annum month will become payable by the AllotteesAllottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the advance maintenance chargesIFSD. If due to such adjustment the advance maintenance charges IFSD falls below the six months average of the Maintenance Charges, then the Allottees Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance xxxxbill. That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Vendor/ Developer (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto date.Interim Maintenance Period:

Maintenance and Association. Maintenance Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottees will be required to complete the formalities of becoming a member of the Association. The Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottees fails to pay: (i) the Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the Allottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the advance maintenance charges. If due to such adjustment the advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance xxxx. That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Vendor/ Developer (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto datebill.

Maintenance and Association. Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottees will be required to complete the formalities of becoming a member of the Association. The Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. In case the Allottees fails to pay: (i) the Allottees shall not be entitled to avail any maintenance services; (ii) interest @ 12% per annum will become payable by the Allottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the advance maintenance charges. If due to such adjustment the advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance xxxxbill. That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Vendor/ Developer (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto date.

Maintenance and Association. Maintenance Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottees Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottees Allottee will be required to complete the formalities of becoming a member of the Association. The Allottees Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottees Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottees Allottee fails to pay: (i) the Allottees Allottee shall not be entitled to avail any maintenance services; (ii) interest @ 12% [1.5%% per annum month will become payable by the AllotteesAllottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the advance maintenance chargesAdvance Maintenance Charges. If due to such adjustment the advance maintenance charges Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottees Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance xxxx. That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Vendor/ Developer (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto datebill.