Common use of MAINTENANCE & OTHER SECURITY DEPOSITS Clause in Contracts

MAINTENANCE & OTHER SECURITY DEPOSITS. (i) The Allottee, on or before possession, shall deposit and amount equivalent to 2 year’s maintenance charges (the “MAINTENANCE SECURITY DEPOSIT”) which amount will be a part of the Total Price of the Apartment as mentioned in Annexure- “ ” hereto. The Promoter reserves the right to utilize this deposit to adjust any recoverable dues from the Allottee. The deposit after adjustment/ recovery of dues will be transferred/ handed over by the Promoter (without interest) to the Association at the time of handing over the maintenance and management of the Luxury Zone.

MAINTENANCE & OTHER SECURITY DEPOSITS. (i) The Allottee, on or before possession, shall deposit and amount equivalent to 2 year’s maintenance charges @ Rs. per sqft per month of the Carpet Area of the Apartment (the “MAINTENANCE SECURITY DEPOSIT”) which amount will be a part of the Total Price of the Apartment as mentioned in Annexure- “ ” hereto). The Promoter reserves the right to utilize this deposit to adjust any recoverable dues from the Allottee. The deposit after adjustment/ recovery of dues will be transferred/ handed over by the Promoter (without interest) to the Association at the time of handing over the maintenance and management of the Luxury Zone. The Maintenance Security Deposit will be part of the Total Price.