Common use of MODE OF PAYMENTS Clause in Contracts

MODE OF PAYMENTS. 2.1 Subject to the terms of this Agreement and the Promoter/Developer abiding by the construction milestones as expressly mentioned in this Agreement, the ALLOTTEE shall make all payments, on written demand by the Promoter/Developer, within the stipulated time as mentioned in the Payment Plan through cheque/demand draft/pay order/wire transfer/RTGS/NEFT or online payment (as applicable) drawn in favour of/to the account of the Promoter/Developer payable at Kolkata/Burdwan. 2.2 The Promoter/Developer shall be entitled to securities the Total Price and other amounts payable by the ALLOTTEE under this Agreement (or any part thereof), in the manner permissible under the Act/Rules, in favour of any persons including banks/financial institutions and shall also be entitled to transfer and assign to any persons the right to directly receive the Total Price and other amounts payable by the ALLOTTEE under this Agreement or any part thereof. Upon receipt of such intimation from the Promoter/Developer, the ALLOTTEE shall be required to make payment of the Total Price and other amounts payable in accordance with this Agreement, in the manner as intimated. 2.3 In the event of the ALLOTTEE obtaining any financial assistance and/or housing loan from any bank/ financial institution, the Promoter/Developer shall act in accordance with the instructions of the bank/ financial institution in terms of the agreement between the ALLOTTEE and the Bank/ financial institution SUBJECT HOWEVER that such bank/financial institution shall be required to disburse/pay all such amounts due and payable to the Promoter/Developer under this Agreement and in no event the Promoter/Developer shall assume any liability and/or responsibility for any loan and/or financial assistance which may be obtained by the ALLOTTEE from such bank/ financial institution. 2.4 The timely payment of all the amounts payable by the ALLOTTEE under this Agreement (including the Total Price), is the essence of the contract. An intimation forwarded by the Promoter/Developer to the ALLOTTEE that a particular milestone of construction has been achieved shall be sufficient proof thereof. The Promoter/Developer demonstrating dispatch of such intimation to the address of the ALLOTTEE including by e-mail, shall be conclusive proof of service of such intimation by the Promoter/Developer upon the ALLOTTEE, and non- receipt thereof by the ALLOTTEE shall not be a plea or an excuse for non- payment of any amount or amounts. 2.5 In the event of delay and/or default on the part of the ALLOTTEE in making payment of any GST, Service Tax, VAT, TDS or any other tax, levies, cess etc., then without prejudice to any other rights or remedies available to the Promoter/Developer under this Agreement or under applicable law, the Promoter/Developer shall be entitled to adjust against any subsequent amounts received from the ALLOTTEE, the said unpaid tax levy, cess etc. along with interest, penalty, etc. payable thereon, from the due date till the date of adjustment.

MODE OF PAYMENTS. 2.1 Subject 3.1. With respect to any payments to be made by the ALLOTTEES/ PURCHASER to the Promoters in terms of this Agreement and the Promoter/Developer abiding by the construction milestones as expressly mentioned in this Agreement, the ALLOTTEE shall make all paymentsALLOTTEES/PURCHASER agrees, declares and confirms that on a written demand being made by the PromoterPromoters on the Purchaser with respect to a payment amount, the ALLOTTEES/ PURCHASER shall pay such amount to the Promoters within 15 (fifteen) days of the Promoters’ said written demand, without any delay, demur or default. 3.2. For the purpose of this Agreement, 10 % of the Sale Price is xxxxxxx money and is referred to herein as the “Xxxxxxx Money”. 3.3. The ALLOTTEES/ PURCHASER has paid before execution of this Agreement part- payment of the Sale Price of the said APARTMENT/DeveloperSHOP, within of a sum of Rs. /- (Rupees Only) (“Booking Price”), towards Booking Amount being part payment towards the stipulated Total Price of the APARTMENT/SHOP at the time of application the receipt of which the Promoter hereby acknowledges and the ALLOTTEES/PURCHASER hereby agrees to pay the remaining price of the Said APARTMENT/SHOP as mentioned prescribed in the Payment Plan through cheque/demand draft/Plan, hereunder written and hereby agrees to pay order/wire transfer/RTGS/NEFT or online payment (as applicable) drawn in favour of/to the account Promoters the balance amount of the PromoterSale Price by installments as more particularly described in the SCHEDULE IV and V. 3.4. In addition to the Sale Price, it is clarified that all such taxes, levies, duties, cesses (whether applicable/Developer payable at Kolkatanow or which may become applicable/Burdwan. 2.2 The Promoter/Developer shall be entitled to securities the Total Price payable in future) including GST, service tax, value added tax and all other amounts payable indirect and direct taxes, duties and impositions applicable levied by the ALLOTTEE central government and/or the state government and/or any local, public or statutory authorities/bodies on any amount payable under this Agreement (and/or on the transaction contemplated herein and/or in relation to the said APARTMENT/SHOP shall be borne and paid by ALLOTTEES/PURCHASER alone and the Promoters shall not be liable to bear or any part thereof), in pay the manner permissible under the Act/Rules, in favour of any persons including banks/financial institutions and shall also be entitled to transfer and assign to any persons the right to directly receive the Total Price and other amounts payable by the ALLOTTEE under this Agreement same or any part thereof. Upon receipt Any default in payment of such intimation from GST or other tax or levy aforesaid shall invite the Promoter/Developersame consequence as default in payment of any of the installments of the Sale Price as provided in these presents. Without prejudice to the aforesaid, the ALLOTTEE shall be required to make payment of the Total Price and other amounts payable in accordance with this Agreement, in the manner as intimated. 2.3 In the event of the ALLOTTEE obtaining any financial assistance and/or housing loan from any bank/ financial institution, the PromoterALLOTTEES/Developer shall act in accordance with the instructions of the bank/ financial institution in terms of the agreement between the ALLOTTEE and the Bank/ financial institution SUBJECT HOWEVER that such bank/financial institution shall be required to disburse/pay all such amounts due and payable to the Promoter/Developer under this Agreement and in no event the Promoter/Developer shall assume any liability and/or responsibility for any loan and/or financial assistance which may be obtained by the ALLOTTEE from such bank/ financial institution. 2.4 The timely payment of all the amounts payable by the ALLOTTEE under this Agreement (including the Total Price), is the essence of the contract. An intimation forwarded by the Promoter/Developer to the ALLOTTEE that a particular milestone of construction has been achieved shall be sufficient proof thereof. The Promoter/Developer demonstrating dispatch of such intimation to the address of the ALLOTTEE including by e-mail, shall be conclusive proof of service of such intimation by the Promoter/Developer upon the ALLOTTEE, and non- receipt thereof by the ALLOTTEE PURCHASER shall not be a plea entitled to claim possession from the Promoters and the Promoters shall not be liable to hand over possession of the said APARTMENT/SHOP until the Purchaser has in addition to the Sale Price paid the amount of GST or an excuse for non- payment of any amount other tax or amountslevy as aforesaid. 2.5 3.5. In the event of delay and/or default on the part of the ALLOTTEE Purchaser in making payment of any GST, Service Tax, VAT, TDS or any other tax, levies, cess etc., then without prejudice to any other rights or remedies available to the Promoter/Developer Promoters under this Agreement or under applicable law, the Promoter/Developer Promoters shall be entitled to adjust against any subsequent amounts received from the ALLOTTEEALLOTTEES/PURCHASER, toward the said unpaid tax tax, levy, cess etc. along with interest, penalty, penalty etc. payable thereon, from the due date till the date of adjustment. 3.6. The ALLOTTEES/PURCHASER shall, if liable under the applicable provisions of Sec.194-IA of the Income-tax Act, 1961 deduct tax at source (“TDS”) from each installment of the Sale Price as required under the said Act. At present TDS of 1% of sale consideration and cost of construction shall be paid by the ALLOTTEES/PURCHASER as per the provision of section 194 1A of the Income Tax Act. The ALLOTTEES/PURCHASER shall cause the TDS Certificate to be issued in respect of the same in accordance with the provisions of the Income Tax Act, 1961 at the earliest, and in any event, not later than within the time prescribed therefore. Any default in payment of TDS (and facilitating credit therefore in favour of the Promoters) shall invite the same consequence as default in payment of any of the installments of the Sale Price as provided in these presents. Without prejudice to the aforesaid, the ALLOTTEES/PURCHASER shall not be entitled to claim possession of the said APARTMENT/SHOP from the Promoters and the Promoters shall not be liable to hand over possession of the said APARTMENT/SHOP until the ALLOTTEES/PURCHASER has furnished to the Promoters, TDS certificates for the entire amount of deduction as may have been paid to the account and credit of the Promoters. Further, without prejudice to the aforesaid, in the event of any loss of tax credit to the Promoters due to the ALLOTTEES/PURCHASERS failure to furnish such TDS certificate(s) from time to time, the ALLOTTEES/PURCHASERS shall be liable to make good such loss to the Promoters. 3.7. The Promoter shall not be responsible/accountable for any payment made in cash or through cheques to agent/broker/channel partner/any third person. The promoters shall also not be responsible/liable for any assurances, promises etc., given by agent/broker/channel partner/any third person regarding APARTMENT/SHOP/Project, Payment Plan, cost of the APARTMENT/SHOP, facilities in the APARTMENT/SHOP etc., which are not authorized by the Promoter and/or is not given in the sale brochure, Booking Form and in this Agreement regarding the APARTMENT/SHOP. It is herein clarified that if the ALLOTTEES/PURCHASERS makes payment through cheques, and cheques is dishonored due to any reason whatsoever, the promoter shall be entitled to charge Rs. 1000/- per instance from the ALLOTTEES/PURCHASERS as fine/penalty. 3.8. If the Purchaser fails to make any payments on the stipulated date/ time/s as required under this Agreement, then, the Purchaser shall pay to the Promoters interest at the rate of 10% per annum in terms of this Agreement, on all and any such delayed payments computed from the date such amounts are due and payable till the date such amounts are fully and finally paid together with the interest thereon at the interest rate in terms of this Agreement. 3.9. Without prejudice to the right of the Promoters to charge interest at the interest rate in terms of this Agreement, and any other rights and remedies available to the Promoters, on the ALLOTTEES/PURCHASERS committing default in payment on due date of any amount due and payable by the Purchaser to the Promoters under this Agreement (including his proportionate share of taxes levied by concerned local authority and other outgoings), the Promoters shall be entitled to at their own option and discretion, terminate this Agreement, without any reference or recourse to the ALLOTTEES/PURCHASERS in accordance with Clause 12.3 herein (Consequences of Default). 3.10. The timely payment of all the amounts payable by the ALLOTTEES/PURCHASERS under this Agreement (including the Sale Price), is the essence of this Agreement. An intimation forwarded by the Promoters to the ALLOTTEES/PURCHASERS that a particular milestone of development has been achieved shall be sufficient proof thereof. The Promoters demonstrating dispatch of such intimation to the address of the ALLOTTEES/PURCHASERS including by e-mail, shall be conclusive proof of service of such intimation by the Promoters upon the Purchaser, and non-receipt thereof by the Purchaser shall not be a plea or an excuse for non-payment of any amount or amounts. 3.11. The parties hereto agree that default of any payment or any taxes by the ALLOTTEES/PURCHASERS under this agreement, will disentitle the ALLOTTEES/PURCHASERS to the time frame mentioned herein for handling over possession and it shall then be the discretion of the Promoter in such cases, as to when to give possession of the Said APARTMENT/SHOP to the ALLOTTEES/PURCHASERS, if this agreement is not terminated by the Promoter for default in payment.

MODE OF PAYMENTS. 2.1 Subject to the terms of this Agreement and the Promoter/Developer abiding by the construction milestones as expressly mentioned in this Agreement, the ALLOTTEE Allottee shall make all payments, on written demand by the Promoter/Developer, within the stipulated time as mentioned in the Payment Plan through chequeCheque/demand draft/pay order/wire transfer/RTGS/NEFT or online payment (as applicable) drawn in favour of/to the account of the Promoter/Developer payable at Kolkata/Burdwan. 2.2 The Promoter/Developer shall be entitled to securities the Total Price and other amounts payable by the ALLOTTEE Allottee under this Agreement (or any part thereof), in the manner permissible under the Act/Rules, in favour of any persons including banks/financial institutions and shall also be entitled to transfer and assign to any persons the right to directly receive the Total Price and other amounts payable by the ALLOTTEE Allottee under this Agreement or any part thereof. Upon receipt of such intimation from the Promoter/Developer, the ALLOTTEE Allottee shall be required to make payment of the Total Price and other amounts payable in accordance with this Agreement, in the manner as intimated. 2.3 In the event of the ALLOTTEE Allottee obtaining any financial assistance and/or housing loan from any bank/ financial institution, the Promoter/Developer shall act in accordance with the instructions of the bank/ financial institution in terms of the agreement between the ALLOTTEE Allottee and the Bank/ financial institution SUBJECT HOWEVER that such bank/financial institution shall be required to disburse/pay all such amounts due and payable to the Promoter/Developer under this Agreement and in no event the Promoter/Developer shall assume any liability and/or responsibility for any loan and/or financial assistance which may be obtained by the ALLOTTEE Allottee from such bank/ financial institution. 2.4 The timely payment of all the amounts payable by the ALLOTTEE Allottee under this Agreement (including the Total Price), is the essence of the contract. An intimation forwarded by the Promoter/Developer to the ALLOTTEE Allottee that a particular milestone of construction has been achieved shall be sufficient proof thereof. The Promoter/Developer demonstrating dispatch of such intimation to the address of the ALLOTTEE Allottee as stated at Clause 29 (Notice) including by e-mail, shall be conclusive proof of service of such intimation by the Promoter/Developer upon the ALLOTTEEAllottee, and non- non-receipt thereof by the ALLOTTEE Allottee shall not be a plea or an excuse for non- non-payment of any amount or amounts. 2.5 In the event of delay and/or default on the part of the ALLOTTEE Allottee in making payment of any GST, Service Tax, VAT, TDS or any other tax, levies, cess etc., then without prejudice to any other rights or remedies available to the Promoter/Developer under this Agreement or under applicable law, the Promoter/Developer shall be entitled to adjust against any subsequent amounts received from the ALLOTTEEAllottee, the said unpaid tax levy, cess etc. along with interest, penalty, penalty etc. payable thereon, from the due date till the date of adjustment.

MODE OF PAYMENTS. 2.1 Subject to the terms of this Agreement and the Promoter/Developer abiding by the construction milestones as expressly mentioned in this Agreement, the ALLOTTEE shall make all payments, on written demand by the Promoter/Developer, within the stipulated time as mentioned in the Payment Plan through cheque/demand draft/pay order/wire transfer/RTGS/NEFT or online payment (as applicable) drawn in favour of/to the account of the Promoter/Developer payable at Kolkata/Burdwan. 2.2 The Promoter/Developer shall be entitled to securities the Total Price and other amounts payable by the ALLOTTEE under this Agreement (or any part thereof), in the manner permissible under the Act/Rules, in favour of any persons including banks/financial institutions and shall also be entitled to transfer and assign to any persons the right to directly receive the Total Price and other amounts payable by the ALLOTTEE under this Agreement or any part thereof. Upon receipt of such intimation from the Promoter/Developer, the ALLOTTEE shall be required to make payment of the Total Price and other amounts payable in accordance with this Agreement, in the manner as intimated. 2.3 In the event of the ALLOTTEE obtaining any financial assistance and/or housing loan from any bank/ financial institution, the Promoter/Developer shall act in accordance with the instructions of the bank/ financial institution in terms of the agreement between the ALLOTTEE and the Bank/ financial institution SUBJECT HOWEVER that such bank/financial institution shall be required to disburse/pay all such amounts due and payable to the Promoter/Developer under this Agreement and in no event the Promoter/Developer shall assume any liability and/or responsibility for any loan and/or financial assistance which may be obtained by the ALLOTTEE from such bank/ financial institution. 2.4 The timely payment of all the amounts payable by the ALLOTTEE under this Agreement (including the Total Price), is the essence of the contract. An intimation forwarded by the Promoter/Developer to the ALLOTTEE that a particular milestone of construction has been achieved shall be sufficient proof thereof. The Promoter/Developer demonstrating dispatch of such intimation to the address of the ALLOTTEE including by e-mail, shall be conclusive proof of service of such intimation by the Promoter/Developer upon the ALLOTTEE, and non- receipt thereof by the ALLOTTEE shall not be a plea or an excuse for non- payment of any amount or amounts. 2.5 In the event of delay and/or default on the part of the ALLOTTEE in making payment of any GST, Service Tax, VAT, TDS or any other tax, levies, cess etc., then without prejudice to any other rights or remedies available to the Promoter/Developer under this Agreement or under applicable law, the Promoter/Developer shall be entitled to adjust against any subsequent amounts received from the ALLOTTEE, the said unpaid tax levy, cess etc. along with interest, penalty, etc. payable thereon, from the due date till the date of adjustment.