PROMOTER SHALL NOT MORTGAGE OR CREATE CHARGE. After the Promoter executes this Agreement he shall not mortgage or create a charge on the Apartment/Building and if any such mortgage or charge is made or created then notwithstanding anything contained in any other law for the time being in force, such mortgage or charge shall not affect the right and interest of the Allottee who has taken or agreed to take such Apartment/Building.
PROMOTER SHALL NOT MORTGAGE OR CREATE CHARGE. 19.1 After the Promoter executes this Agreement, they shall not mortgage or create a charge on the Said Unit, and, if any, such mortgage or charge is made or created then not withstanding anything contained in any other law for the time being in force, such mortgage or charge shall not affect the right and interest of the Allottee who has taken or agreed to take such Unit.
19.2 However the promoter shall be entitled to securitize the total price and other amounts, respectively, 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 sell and assign to any person or institution 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 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.
PROMOTER SHALL NOT MORTGAGE OR CREATE CHARGE. After the Promoter executes this Agreeme nt he shall not mortgage or create a charge on the Apartment and if any such mortgage or charge is made or created then notwithstanding anything contained in any other law for the t ime being in force, such mortgage or charge shall not affect the r ight and interest of the Allottee who has taken or agreed to take such Apartment.
PROMOTER SHALL NOT MORTGAGE OR CREATE CHARGE. After the Promoter executes this Agreement, it shall not mortgage or create a charge on the Apartment and if any such mortgage or charge is made or created then notwithstanding anything contained in any other law for the time being in force, such mortgage or charge shall not affect the right and interest of the Allottee who has taken or agreed to take such Apartment. However, notwithstanding the above, the Promoter shall have the right to obtain construction finance for the Project anytime during the period of construction of the Project, without creating any liability on the Allottee. For the avoidance of any doubt, it is clarified that this Agreement by itself shall be treated as the written consent of the Allottee for creation of charge/ mortgage over any part or portion of the Said Land and/or the Building, and no separate consent of the Allottee shall be required for the said purpose.
