Common use of Quit Rent & Other Outgoings Clause in Contracts

Quit Rent & Other Outgoings. a. Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer up to the date of successful sale of the subject property shall be deducted from the purchase money upon receipt of the Balance sum, provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser. b. The Purchaser is responsible to make his own enquiries on all liabilities affecting the property and shall be deemed to purchase in all respects subject thereto whether or not he makes any enquiry and neither the Assignee/Bank nor the Auctioneer shall be required or bound to inform the Purchaser of any such matters whether known to them or not and the Purchaser shall raise no enquiry, requisition or objection thereon or thereto. c. The Purchaser acknowledges and declares that he has notice of and has appraised:- (i) the sale and purchase agreement between the Developer and/or Proprietor of the land (where the property is located) and subsequent purchaser(s); (ii) the individual title has been issued. d. The stamp duty and registration fee for the Memorandum of Transfer, the assignment and subsequent transfer (as the case may be) and other costs which is necessary to effect the transfer of the property into the name of the Purchaser in the title deed (as the case may be) shall be borne and paid by the Purchaser.

Quit Rent & Other Outgoings. a. Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer up to the date of successful sale of the subject property shall be deducted from the purchase money upon receipt of the Balance sum, provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer Assignment and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser. b. The Purchaser is responsible to make his own enquiries on all liabilities affecting the property and shall be deemed to purchase in all respects subject thereto whether or not he makes any enquiry and neither the Assignee/Bank Assignee nor the Auctioneer shall be required or bound to inform the Purchaser of any such matters whether known to them or not and the Purchaser shall raise no enquiry, requisition or objection thereon or thereto. c. The Purchaser acknowledges and declares that he has notice of and has appraised:- (i) the sale and purchase agreement between the Developer and/or Proprietor of the land (where the property is located) and subsequent purchaser(s); (ii) the individual title has been issued. d. The stamp duty and registration fee for the Memorandum of TransferMemorandum, the assignment and subsequent transfer (as the case may be) and other costs which is necessary to effect the transfer of the property into the name of the Purchaser in the title deed (as the case may be) shall be borne and paid by the Purchaser.

Quit Rent & Other Outgoings. a. Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer up to the date of successful sale of the subject property shall be deducted from the purchase money upon receipt of the Balance sum, provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s Developer‟s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer Assignment and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser. b. The Purchaser is responsible to make his own enquiries on all liabilities affecting the property and shall be deemed to purchase in all respects subject thereto whether or not he makes any enquiry and neither the Assignee/Bank nor the Auctioneer shall be required or bound to inform the Purchaser of any such matters whether known to them or not and the Purchaser shall raise no enquiry, requisition or objection thereon or thereto. c. The Purchaser acknowledges and declares that he has notice of and has appraised:- (i) the sale and purchase agreement between the Developer and/or Proprietor of the land (where the property is located) and subsequent purchaser(s); (ii) all other information and statements as required under section 16A of the individual title has been issuedLand (Subsidiary Title) Enactment 1972. d. The stamp duty and registration fee for the Memorandum of TransferMemorandum, the assignment and subsequent transfer (as the case may be) and other costs which is necessary to effect the transfer of the property into the name of the Purchaser in the title deed (as the case may be) shall be borne and paid by the Purchaser.

Quit Rent & Other Outgoings. a. Any a) All arrears of Quit Rentquit rent, Assessment, assessment and service/maintenance charges, sinking fund including charges due and payable in respect of the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer subject property up to the date of successful sale of the subject property shall be deducted from paid out of the purchase money upon receipt of the Balance sumfull auction proceeds including all interest on late payment (if any), provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rentquit rent, Assessment bills assessment bills/invoices issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx billing are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at such sums accruing due and payable from the date of auction sale not specific in Clause 10(a)(including shall be borne and paid by the Purchaser. All charges other than quit rent, assessment, service/maintenance charges including but not limited to water billsfees, electric billstaxes, sewerage chargesrates, telephone bills interests, sinking funds, adjustment of land area charges and/or any other monies whatsoever outstanding to the Developer and/or to any other authority/parties) parties shall not be borne paid directly by the Assignee/Bank. Purchaser. b) The purchaser Purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer Assignment and all other documents necessary for effecting affecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser. b. The Purchaser is responsible to make his own enquiries on all liabilities affecting the property and shall be deemed to purchase in all respects subject thereto whether or not he makes any enquiry and neither the Assignee/Bank nor the Auctioneer shall be required or bound to inform the Purchaser of any such matters whether known to them or not and the Purchaser shall raise no enquiry, requisition or objection thereon or thereto. c. The Purchaser acknowledges and declares that he has notice of and has appraised:- (i) the sale and purchase agreement between the Developer and/or Proprietor of the land (where the property is located) and subsequent purchaser(s); (ii) the individual title has been issued. d. The stamp duty and registration fee for the Memorandum of Transfer, the assignment and subsequent transfer (as the case may be) and other costs which is necessary to effect the transfer of the property into the name of the Purchaser in the title deed (as the case may be) shall be borne and paid by the Purchaser.

Quit Rent & Other Outgoings. a. 12.1 Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) quit rent and assessment which may be lawfully due to any relevant government authority or the Developer up to the date and any arrears of successful sale other charges and utilities in regards of the subject property Properties until the fall of the hammer shall be deducted from the purchase money paid out upon receipt of full auction proceeds including late payment interest (if any), as the Balance sumcase may be, provided that the Purchaser shall extract a copy of such bills and forward the same to the Assignee or the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser Solicitor within ninety sixty (9060) days from the date of salethe Auction or together with the balance TPP (whichever is earlier). For avoidance After the fall of doubtthe hammer, all quit rent, taxes, rates, assessment and other charges and utilities in respect of the event such invoices and/or itemized xxxxxxxx are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same Properties shall be borne paid by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser. b. The Purchaser is responsible 12.2 In the event the Assignee has expended money to make his own enquiries on all liabilities affecting comply with any requirement or demand made by Governmental and/or Local Authorities in respect of the property and shall be deemed to purchase in all respects subject thereto whether or not he makes any enquiry and neither Properties between the Assignee/Bank nor date of the Auctioneer shall be required or bound to inform the Purchaser of any such matters whether known to them or not Auction and the Purchaser shall raise no enquiryCompletion Date or Extended Completion Date, requisition or objection thereon or thereto. c. The Purchaser acknowledges and declares that he has notice of and has appraised:- (i) the sale and purchase agreement between the Developer and/or Proprietor of the land (where the property is located) and subsequent purchaser(s); (ii) the individual title has been issued. d. The stamp duty and registration fee for the Memorandum of Transfer, the assignment and subsequent transfer (as the case may be) and other costs which is necessary to effect the transfer of the property into the name of , the Purchaser in shall, on the title deed (Completion Date or Extended Completion Date, as the case may be) shall be borne , repay the Assignee the amount expended by the Assignee and paid by fully and effectually indemnify the Assignee for all costs and expenses in respect thereof. The Assignee may, however, upon receiving notice of such requirement or demand decide in its sole and absolute discretion to give the Purchaser the option to comply therewith in lieu of incurring such cost and/or expense on behalf of the Purchaser.

Quit Rent & Other Outgoings. a. Any arrears of Quit Rent, Assessment, service/maintenance charges, sinking fund including the late penalty interest (if any) which may be lawfully due to any relevant authority or the Developer up to the date of successful sale of the subject property shall be deducted from the purchase money upon receipt of the Balance sum, provided that the Assignee/Bank is in receipt of the itemized billing for Quit Rent, Assessment bills issued by the relevant authority and the Developer’s invoice/statement of account from the Purchaser within ninety (90) days from the date of sale. For avoidance of doubt, in the event such invoices and/or itemized xxxxxxxx billings are not submitted within the stipulated ninety (90) days from the auction date, any subsequent claims made thereunder will not be entertained by the Assignee/Bank and the same shall be borne by the Purchaser solely. All other charges as at the date of auction sale not specific in Clause 10(a)(including but not limited to water bills, electric bills, sewerage charges, telephone bills and/or other monies whatsoever outstanding to the Developer and/or other authority/parties) shall not be borne by the Assignee/Bank. The purchaser shall bear and pay all fees and expenses including but not limited to all legal fees, stamp duty and registration fees in connection with, incidental to or pursuant to the Transfer and all other documents necessary for effecting the transfer or assigning the legal and beneficial ownership in the property to the Purchaser. b. The Purchaser is responsible to make his own enquiries on all liabilities affecting the property and shall be deemed to purchase in all respects subject thereto whether or not he makes any enquiry and neither the Assignee/Bank nor the Auctioneer shall be required or bound to inform the Purchaser of any such matters whether known to them or not and the Purchaser shall raise no enquiry, requisition or objection thereon or thereto. c. The Purchaser acknowledges and declares that he has notice of and has appraised:- (i) the sale and purchase agreement between the Developer and/or Proprietor of the land (where the property is located) and subsequent purchaser(s); (ii) the individual title has been issued. d. The stamp duty and registration fee for the Memorandum of Transfer, the assignment and subsequent transfer (as the case may be) and other costs which is necessary to effect the transfer of the property into the name of the Purchaser in the title deed (as the case may be) shall be borne and paid by the Purchaser.