Common use of of the Project Clause in Contracts

of the Project. The Vendor agrees to pay all outgoings/ dues before transferring the physicalpossession of the Apartment to the Purchaser/Allottee(s) which it has collected from the Purchaser/Allottee(s), for the payment of outgoings/dues (including land cost, ground rent, municipal or other local taxes, charges for water or electricity, maintenance charges, including mortgage loan and interest on mortgages or other encumbrances and such other liabilities payable to competent authorities, banks andfinancial institutions, which are related to the Project). If the Vendor fails to pay all or any of the outgoings/ dues collected by it from the Purchaser/Allottee(s) or any liability,mortgage loan and interest thereon before transferring the Apartment to the Purchaser/Allottee(s), the Vendor agrees to be liable, even after the transfer of the property, to pay such outgoings/ dues and penal charges, if any, to the authority or person to whom they are payable and be liable for the cost of any legal proceedings which may be taken therefore by such authority or person.