Common use of Mortgage of Assets Clause in Contracts

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions: i. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rent. ii. The Lessee shall submit the following documents: I. Sanction letter of the concerned Bank/approved financial institution. II. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. NRDA shall have first charge on the plot toward payment of all dues of NRDA. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) i. The lessee, lessee shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time time, however the permission for the mortgage shall be granted subject to the following conditions: i. a. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-to- date dues of the plot premium and Annual Lease Rent. ii. b. The Lessee shall submit the following documents: I. (i) Sanction letter of the concerned Bank/approved financial institution. II. (ii) An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iiiii. NRDA NRANVP shall have first charge on the plot toward payment of all dues of NRDANRANVP. iii. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. iv. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, lessee shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. The permission shall be provided as per the prevailing provisions of ''Chhattisgarh Xxxxxxx Kshetra (Xxxxx Xxxxxxxx ka Vyayan) Niyam, 2008" which is subject to revision by Authority from time to time. The present provision is as follows: — i. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time time, however the permission for the mortgage shall be granted subject to the following conditions: i. a. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-to- date dues of the plot premium and Annual Lease Rent. ii. b. The Lessee shall submit the following documents: I. (i) Sanction letter of the concerned Bank/approved financial institution. II. (ii) An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iiiii. NRDA NRANVP shall have first charge on the plot toward payment of all dues of NRDANRANVP. iii. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. iv. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any Lessee may mortgaged the land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or any other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions:conditions- i. A. The mortgage permission shall be granted (where the plot project land is not cancelled or any show cause notice is not served), after registration of Lease DeedAgreement, only in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this lease Agreement or should have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rentdues. ii. B. The Lessee shall submit the following documents: I. a. Sanction letter of the concerned Bank/approved financial institution. II. b. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. C. NRDA shall have first charge on the plot project site toward payment of all dues of NRDA. Provided that in the event of sale or foreclosure of the mortgaged/charged property as the case may be the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned partiesparties concerned. The Authority's have right to the recovery of the unearned increase and the pre-pre- emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender bid or through execution of decree of insolvency/ court Indemnity bond. Schedule II and Article 10 and/or the Project in favour of Lenders or in favour of any other Person for securing any repayment obligation or otherwise of the Lessee. However, the Lessee shall be entitled to mortgage the Development Rights under this agreement, as per applicable laws with any scheduled Bank or financial institution with the conditions first charge shall always be with NRDA.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any Lessee may mortgage the land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or any other Financial Institution which are approved by with prior permission from Authority as per the Authority from time to time however provisions of Rule 22 (1), "Chhattisgarh Xxxxxxx Kshetra (Xxxxx Xxxxxxxx ka Vyayan) Niyam, 2008" .However the permission for the mortgage shall be granted subject to the following conditions:conditions- i. A. The mortgage permission shall be granted (where the plot project land is not cancelled or any show cause notice is not served), after registration of Lease DeedAgreement, only in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this lease Agreement or should have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rentdues. ii. B. The Lessee shall submit the following documents: I. a. Sanction letter of the concerned Bank/approved financial institution. II. b. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. C. NRDA shall have first charge on the plot project site toward payment of all dues of NRDA. Provided that in the event of sale or foreclosure of the mortgaged/charged property as the case may be the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned partiesparties concerned. The Authority's have right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender bid or through execution of decree of insolvency/ court Indemnity bond. Schedule II and Article 10 and/or the Project in favour of Lenders or in favour of any other Person for securing any repayment obligation or otherwise of the Lessee. However, the Lessee shall be entitled to mortgage the Development Rights under this agreement, as per applicable laws with any scheduled Bank or financial institution with the conditions first charge shall always be with NRDA.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any Lessee may mortgage the land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or any other Financial Institution which are approved by registered with RBI with prior written permission from the Authority from time to time however NRANVP as per the provisions of Rule 22 (1), "Chhattisgarh Xxxxxxx Kshetra (Xxxxx Xxxxxxxx ka Vyayan) Niyam, 2008". However the permission for the mortgage shall be granted subject to the following conditions:conditions- i. A. The mortgage permission shall be granted (where the plot Project Land is not cancelled or any show cause notice is not served), after registration of Lease Deedthe Agreement, only in favour of Bank/Govt. organization/approved financial institution for on receipt of simple written request from the Lessee. The Lessee should have valid time period for construction as per terms of this the Agreement or should have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rentdues. ii. B. The Lessee shall submit the following documents: I. a. Sanction letter of the concerned Bank/approved financial institution. II. b. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iiiC. The Lessee shall at all times ensure that all payments towards repayment of loan or interest/other dues are made in timely manner to such banks/financial institution under the Financing Agreements to avoid any adverse financial impact on the Project. NRDA NRANVP shall have first charge on the plot toward Project Land towards payment of all dues of NRDANRANVP. Provided that in the event of sale or foreclosure of the mortgaged/charged property as the Authority case may be the NRANVP shall be entitled to claim and recover such percentage, as decided by the AuthorityNRANVP, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority NRANVP in respect of the market value of the said land shall be final and binding on all the concerned partiesparties concerned. The Authority's NRANVP have the right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender bid or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any Lessee may mortgage the land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or any other Financial Institution which are approved by registered with RBI with prior written permission from the Authority from time to time however NRDA as per the provisions of Rule 22 (1), "Chhattisgarh Xxxxxxx Kshetra (Xxxxx Xxxxxxxx ka Vyayan) Niyam, 2008". However the permission for the mortgage shall be granted subject to the following conditions:conditions- i. A. The mortgage permission shall be granted (where the plot Project Land is not cancelled or any show cause notice is not served), after registration of Lease Deedthe Agreement, only in favour of Bank/Govt. organization/approved financial institution for on receipt of simple written request from the Lessee. The Lessee should have valid time period for construction as per terms of this the Agreement or should have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rentdues. ii. B. The Lessee shall submit the following documents: I. a. Sanction letter of the concerned Bank/approved financial institution. II. b. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iiiC. The Lessee shall at all times ensure that all payments towards repayment of loan or interest/other dues are made in timely manner to such banks/financial institution under the Financing Agreements to avoid any adverse financial impact on the Project. NRDA shall have first charge on the plot toward Project Land towards payment of all dues of NRDA. Provided that in the event of sale or foreclosure of the mortgaged/charged property as the Authority case may be the NRDA shall be entitled to claim and recover such percentage, as decided by the AuthorityNRDA, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority NRDA in respect of the market value of the said land shall be final and binding on all the concerned partiesparties concerned. The Authority's NRDA have the right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender bid or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) i. The lessee, lessee shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions: i. a. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-date up- todate dues of the plot premium and Annual Lease Rent. ii. b. The Lessee shall submit the following documents: I. (i) Sanction letter of the concerned Bank/approved financial institution. II. (ii) An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iiiii. NRDA NRANVP shall have first charge on the plot toward payment of all dues of NRDANRANVP. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions: i. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-to- date dues of the plot premium and Annual Lease Rent. ii. The Lessee shall submit the following documents: I. Sanction letter of the concerned Bank/approved financial institution. II. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. NRDA NRANVP shall have first charge on the plot toward payment of all dues of NRDANRANVP. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any Lessee may mortgage the land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or any other Financial Institution which are approved by with prior permission from Authority as per the Authority from time to time however provisions of Rule 22 (1), "Chhattisgarh Xxxxxxx Kshetra (Xxxxx Xxxxxxxx ka Vyayan) Niyam, 2008" .However the permission for the mortgage shall be granted subject to the following conditions:conditions- i. A. The mortgage permission shall be granted (where the plot project land is not cancelled or any show cause notice is not served), after registration of Lease DeedAgreement, only in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or should have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rentdues. ii. B. The Lessee shall submit the following documents: I. a. Sanction letter of the concerned Bank/approved financial institution. II. b. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. C. NRDA shall have first charge on the plot project site toward payment of all dues of NRDA. Provided that in the event of sale or foreclosure of the mortgaged/charged property as the Authority case may be the NRDA shall be entitled to claim and recover such percentage, as decided by the AuthorityNRDA, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority NRDA in respect of the market value of the said land shall be final and binding on all the concerned partiesparties concerned. The Authority's NRDA have the right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before it shall apply equally to involuntary sale or transfer, be it Tender bid or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions: i. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rent. ii. The Lessee shall submit the following documents: I. Sanction letter of the concerned Bank/approved financial institution. II. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. NRDA ANVP shall have first charge on the plot toward payment of all dues of NRDAANVP. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) a. The lessee, lessee shall not sale, mortgage, gift or otherwise hand over handover or transfer any land or immovable property thereon thereon, as the case may be, to any other person, without obtaining prior permission of the AuthorityChief Executive Officer. Such permission will not be given until a sum equal to Five percent of the prevailing premium on the date of transfer of the land/Plot or immovable property for first/second transfer and Ten percent of the prevailing premium on the date of the land/transfer of Land/ Plot or immoveable property for third and onward transfer is not deposited by lessee with the Authority. However, . A. Provided that the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions:time. i. B. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deedcum Development Agreement, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium accepted Land Premium and Annual Lease Rent. ii. C. The Lessee shall submit the following documents: I. i. Sanction letter of the concerned Bank/approved financial institution. IIii. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. NRDA X. XXXXXX shall have first charge on the plot toward payment of all dues of NRDA. NRANVP. i. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. ii. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lesseeLessee, shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to 10% (Ten percent percent) of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however time. However the permission for the mortgage shall be granted subject to the following conditions:: - i. A. The mortgage permission shall be granted (where the plot Project Land is not cancelled or any show cause notice is not served), after registration of Lease Deedthe Agreement, only in favour of Bank/Govt. organization/approved financial institution for on receipt of simple written request from the Lessee. The Lessee should have valid time period for construction as per terms of this the Agreement or should have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rentdues. ii. B. The Lessee shall submit the following documents: I. a. Sanction letter of the concerned Bank/approved financial institution. II. b. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iiiC. The Lessee shall at all times ensure that all payments towards repayment of loan or interest/other dues are made in timely manner to such banks/financial institution under the Financing Agreements to avoid any adverse financial impact on the Project. NRDA shall have first charge on the plot toward Project Land towards payment of all dues of NRDA. Provided that in the event of sale or foreclosure of the mortgaged/charged property as the Authority case may be the NRDA shall be entitled to claim and recover such percentage, as decided by the AuthorityNRDA, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority NRDA in respect of the market value of the said land shall be final and binding on all the concerned partiesparties concerned. The Authority's NRDA have the right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender bid or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any Lessee may mortgage the land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or any other Financial Institution which are approved by with prior permission from Authority as per the Authority from time to time however provisions of Rule 22 (1 and 2), "Chhattisgarh Xxxxxxx Kshetra (Xxxxx Xxxxxxxx ka Vyayan) Niyam, 2008" .However the permission for the mortgage shall be granted subject to the following conditions:conditions- i. A. The mortgage permission shall be granted (where the plot project land is not cancelled or any show cause notice is not served), after registration of Lease DeedAgreement, only in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this lease Agreement or should have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rentdues. ii. B. The Lessee shall submit the following documents: I. a. Sanction letter of the concerned Bank/approved financial institution. II. b. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. C. NRDA shall have first charge on the plot project site toward payment of all dues of NRDA. Provided that in the event of sale or foreclosure of the mortgaged/charged property as the case may be the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned partiesparties concerned. The Authority's Authority has right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender bid or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions: i. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rent.Rent and others if any ii. The Lessee shall submit the following documents: I. a) Sanction letter of the concerned Bank/approved financial institution. II. b) An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iii. NRDA shall have first charge on the plot toward payment of all dues of NRDA. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned partiesparties including the concerned bank and/or financial institution. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) i. The lessee, lessee shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions: i. a. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-to- date dues of the plot premium and Annual Lease Rent. ii. b. The Lessee shall submit the following documents: I. (i) Sanction letter of the concerned Bank/approved financial institution. II. (ii) An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iiiii. NRDA NRANVP shall have first charge on the plot toward payment of all dues of NRDANRANVP. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) The lessee, shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions: i. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-date dues of the plot premium and Annual Lease Rent. ii. The Lessee shall submit the following documents: I. Sanction letter of the concerned Bank/approved financial institution. II. An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. . iii. NRDA NRANVP shall have first charge on the plot toward payment of all dues of NRDANRANVP. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.

Mortgage of Assets. a) i. The lessee, Lessee shall not sale, mortgage, gift or otherwise hand over or transfer any land or immovable property thereon to any other person, without obtaining prior permission of the Authority. Such permission will not be given until a sum equal to Ten Five percent of the prevailing premium of the land/Plot is deposited by lessee with the Authority. The permission to transfer the lease under this Article shall be given for the remaining period of Lease and shall be registered by the lessee. However, the above provision regarding the payment shall not be applicable if the property is mortgaged with the Central Government, State Government, Nationalized bank, Life Insurance Corporation, Chhattisgarh State Finance Corporation, Housing and Urban Development Corporation or other Financial Institution which are approved by the Authority from time to time however the permission for the mortgage shall be granted subject to the following conditions: i. a. The mortgage permission shall be granted (where the plot is not cancelled or any show cause notice is not served), after registration of Lease Deed, in favour of Bank/Govt. organization/approved financial institution for on receipt of simple request from the Lessee. The Lessee should have valid time period for construction as per terms of this Agreement or have obtained valid extension of time for construction and should have cleared up-to-to- date dues of the plot premium and Annual Lease Rent. ii. b. The Lessee shall submit the following documents: I. (i) Sanction letter of the concerned Bank/approved financial institution. II. (ii) An affidavit on non-judicial stamp paper of appropriate value duly notarized stating that there is no unauthorized construction and commercial activities on the allotted land Clearance of up to date dues. iiiii. NRDA NRANVP shall have first charge on the plot toward payment of all dues of NRDA. NRANVP. a. Provided that in the event of sale or foreclosure of the mortgaged/charged property the Authority shall be entitled to claim and recover such percentage, as decided by the Authority, of the unearned increase in values of properties in respect of the market value of the said land as first charge, having priority over the said mortgage charge, the decision of the Authority in respect of the market value of the said land shall be final and binding on all the concerned parties. . b. The Authority's right to the recovery of the unearned increase and the pre-emptive right to purchase the property as mentioned herein before shall apply equally to involuntary sale or transfer, be it Tender or through execution of decree of insolvency/ court Indemnity bond.