Common use of Nomination Clause in Contracts

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. . Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX VIII SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D G below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D G .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment Row House/Bungalow unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-Lock- in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment Row Houses is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyancedeed of sub-lease, the Allottee(s) Allottee nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve18 (eighteen) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party, and the Sub-Lessee shall obtain prior written consent from the Bank/Financial Institution from which the Sub-Lessee has obtained home loan finance and/or financial assistance (if applicable). In the event of such nomination in the manner as aforesaid, the Sub-Lessee and also the nominee shall execute necessary deeds and documents as required by the Sub-Lessor and such nominee shall be obliged to fulfill and observe all the covenants and obligations of the Sub-Lessee under this Agreement, including those that remain unfulfilled by the Sub-Lessee even retrospectively at the time of such nomination. At the time of nomination nomination, the Transferee new purchaser will be compulsorily required to register the Agreement for sale/nomination agreementSub-Lease / Nomination Agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price Premium or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. . Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the PromoterDeveloper and the Associate Developer. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Developer and the Associate Developer. Any additional income tax liability that may become payable by the Promoter Developer and the Associate Developer due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter Developer and the Associate Developer agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX VIII SPECIFICATIONS -The tentative specification of the Residential Segment Blocks of the Building is as given and more fully described in SIXTH SCHEDULE - D belowhereunder written. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter Developer and the Associate Developer, on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D SIXTH SCHEDULE hereunder written.

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked allotted apartment unto and in favor favour of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the PromoterOwners/Owners/Promoters. However the first 12(twelve) months from the date of Application/Booking Allotment shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor favour of any third party. At the time of nomination nomination, the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Owners/Promoters. Any additional income tax liability that may become payable by the Promoter Owners/Promoters due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter Owners /Promoters agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or and the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. 34.1 It is agreed that the Owners/Promoters shall not make any additions and alterations in the sanctioned plans, layout plans and specifications (save and except finishing items, which may be altered/modified by the Owners/Promoters at its sole discretion) and the nature of fixtures, fittings and amenities described herein at Schedule 'D' and Schedule 'E' (which shall be in conformity with the advertisement, prospectus etc. IX SPECIFICATIONS -The tentative specification on the basis of which Transfer is effected) in respect of the Residential Segment Said Apartment, without the previous written consent of the Allottees as per the provisions of the Act. Provided that the Owners/Promoters may make such minor additions or alterations as may be required by the Allottees, or such minor changes or alterations as per the provisions of the Act. The Owners/ Owners/Promoters shall take prior approval of the Allottees for extra charges, if any, as may be applicable for such addition alterations. 34.2 The Owners/Promoters shall confirm the final carpet area that has been allotted to the Allottees after the construction of the Said Block/Building is as given in SCHEDULE - D below. In complete and the event completion certificate is granted by the competent authority, by furnishing details of any change the changes, if any, in the specifications necessitated on account carpet area. The total price payable for the carpet area shall be recalculated upon confirmation by the Owners/Promoters. If there is reduction in the carpet area then the Owners/Promoters shall refund the excess money paid by the Allottees within forty-five days with annual interest at the rate prescribed in the Rules, from the date when such an excess amount was paid by the Allottees. If there is any increase in the carpet area, which is not more than three percent of any Force Majeure events or the carpet area of the apartment allotted to improve or protect the quality of construction Allottees, the Promoter Owners/Promoters shall demand additional amount from the Allottees towards the Total For Fortune Park Housing Projects Pvt. Ltd Price, on which shall be payable by the recommendations Allottees prior to taking possession of the ArchitectSaid Apartment. It is clarified that the payments to be made by the Owners/Promoters/Allottees, as the case may be, under this Clause, shall be entitled made at the same rate per square feet as agreed in Clause 1.2 above. 34.3.1 Subject to effect such changes Clause 9.3 of this Agreement, the Owners/Promoters agrees and acknowledges that the Allottees shall have the following rights to the Said Apartment And Appurtenances: (i) The Allottees shall have exclusive entitlement of the Said Apartment other than any kind of Roof Area. (ii) The Allottees shall also have undivided proportionate share in the Common Areas of the Real Estate Project (described in Schedule E below). Since the share/interest of the Allottees in the Common Areas of the Real Estate Project is undivided and cannot be divided or separated, the Allottees shall use the Common Areas of the Real Estate Project along with other occupants/Allottees of the Project, maintenance staff etc., without causing any inconvenience or hindrance to them. No Allottee shall use any Common area for any personal purpose for keeping materials of any kind or purpose of gardening or any such activity or construct anything temporary or permanent in nature or draw electric or plumbing line either temporary or permanent in nature. It is clarified that the Owners/Promoters shall hand over the Common Areas of the Real Estate Project (described in Schedule E below) to the association of Allottees after duly obtaining the completion certificate from the competent authority as provided in the Act. (iii) The computation of the price of the Said Apartment And Appurtenances includes recovery of price of land, construction of the Common Areas, internal development charges, external development charges and includes cost for providing all other facilities, amenities and specifications to be provided within the Builder shall ensure that Said Apartment and the cost Project but excludes Taxes and quality maintenance charges. (iv) The Allottees has the right to visit the Real Estate Project site to assess the extent of development of the substituted materials or specifications is equivalent or higher than Project and his apartment, subject to prior consent of the quality Project engineer and cost of materials and specifications as set out in complying with all safety measures while visiting the SCHEDULE- D site.

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 23% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve12 (twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination nomination, the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , ,the Promoter , ,on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked allotted apartment unto and in favor favour of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the PromoterOwners/Owners/Promoters. However the first 12(twelve) months from the date of Application/Booking Allotment shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor favour of any third party. At the time of nomination nomination, the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. Owners/Promoters. Any additional income tax liability that may become payable by the Promoter Owners/Promoters due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter Owners /Promoters agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or and the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. 34.1 It is agreed that the Owners/Promoters shall not make any additions and alterations in the sanctioned plans, layout plans and specifications (save and except finishing items, which may be altered/modified by the Owners/Promoters at its sole discretion) and the nature of fixtures, fittings and amenities described herein at Schedule 'D' and Schedule 'E' (which shall be in conformity with the advertisement, prospectus etc. IX SPECIFICATIONS -The tentative specification on the basis of which Transfer is effected) in respect of the Residential Segment Said Apartment, without the previous written consent of the Allottees as per the provisions of the Act. Provided that the Owners/Promoters may make such minor additions or alterations as may be required by the Allottees, or such minor changes or alterations as per the provisions of the Act. The Owners/ Owners/Promoters shall take prior approval of the Allottees for extra charges, if any, as may be applicable for such addition alterations. 34.2 The Owners/Promoters shall confirm the final carpet area that has been allotted to the Allottees after the construction of the Said Block/Building is as given in SCHEDULE - D below. In complete and the event completion certificate is granted by the competent authority, by furnishing details of any change the changes, if any, in the specifications necessitated on account carpet area. The total price payable for the carpet area shall be recalculated upon confirmation by the Owners/Promoters. If there is reduction in the carpet area then the Owners/Promoters shall refund the excess money paid by the Allottees within forty-five days with annual interest at the rate prescribed in the Rules, from the date when such an excess amount was paid by the Allottees. If there is any increase in the carpet area, which is not more than three percent of any Force Majeure events or the carpet area of the apartment allotted to improve or protect the quality of construction Allottees, the Promoter Owners/Promoters shall demand additional amount from the Allottees towards the Total Price, on which shall be payable by the recommendations Allottees prior to taking possession of the ArchitectSaid Apartment. It is clarified that the payments to be made by the Owners/Promoters/Allottees, as the case may be, under this Clause, shall be entitled made at the same rate per square feet as agreed in Clause 1.2 above. 34.3.1 Subject to effect such changes Clause 9.3 of this Agreement, the Owners/Promoters agrees and acknowledges that the Allottees shall have the following rights to the Said Apartment And Appurtenances: For Fortune Park Housing Projects Pvt. Ltd (i) The Allottees shall have exclusive entitlement of the Said Apartment other than any kind of Roof Area. (ii) The Allottees shall also have undivided proportionate share in the Common Areas of the Real Estate Project (described in Schedule E below). Since the share/interest of the Allottees in the Common Areas of the Real Estate Project is undivided and cannot be divided or separated, the Allottees shall use the Common Areas of the Real Estate Project along with other occupants/Allottees of the Project, maintenance staff etc., without causing any inconvenience or hindrance to them. No Allottee shall use any Common area for any personal purpose for keeping materials of any kind or purpose of gardening or any such activity or construct anything temporary or permanent in nature or draw electric or plumbing line either temporary or permanent in nature. It is clarified that the Owners/Promoters shall hand over the Common Areas of the Real Estate Project (described in Schedule E below) to the association of Allottees after duly obtaining the completion certificate from the competent authority as provided in the Act. (iii) The computation of the price of the Said Apartment And Appurtenances includes recovery of price of land, construction of the Common Areas, internal development charges, external development charges and includes cost for providing all other facilities, amenities and specifications to be provided within the Builder shall ensure that Said Apartment and the cost Project but excludes Taxes and quality maintenance charges. (iv) The Allottees has the right to visit the Real Estate Project site to assess the extent of development of the substituted materials or specifications is equivalent or higher than Project and his apartment, subject to prior consent of the quality Project engineer and cost of materials and specifications as set out in complying with all safety measures while visiting the SCHEDULE- D site.

Nomination. If prior to execution of the conveyance, the Allottee(s) nominates his/their booked apartment unto and in favor of any other person or persons in his/her/their place and stead, the allottee may do so with the permission of the Promoter. However the first 12(twelve) months from the date of Application/Booking shall be a Lock-in Period during which time the Allottee shall not be permitted to nominate in favor of any third party. At the time of nomination , the Transferee will be compulsorily required to register the Agreement for sale/nomination agreement. The Allottee shall pay a sum calculated @ 2% of the Total Price or the Nomination Price whichever is higher, plus applicable taxes, as and by way of nomination fees to the Promoter.. .Any additional income tax liability that may become payable by the Promoter due to nomination by the Allottee because of higher market valuation as per the registration authorities on the date of nomination and/or the extra registration fees to be paid to the registration authorities due to nomination, shall be compensated by the Allottee paying to the Promoter agreed compensation equivalent to the income tax payable on such difference at the highest applicable tax rate at the prevailing time or the estimated extra registration fees. Such amount shall be payable by the Allottee on or before nomination. IX SPECIFICATIONS -The tentative specification of the Residential Segment is as given in SCHEDULE - D below. In the event of any change in the specifications necessitated on account of any Force Majeure events or to improve or protect the quality of construction , the Promoter , on the recommendations of the Architect, shall be entitled to effect such changes in the materials and specifications provided the Builder shall ensure that the cost and quality of the substituted materials or specifications is equivalent or higher than the quality and cost of materials and specifications as set out in the SCHEDULE- D .