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MEMORANDUM OF UNDERSTANDING
THIS MEMORANDUM OF UNDERSTANDING is made and entered into at Navi Mumbai, on this ____Day of Smt. ____________________________________ Residents (NRI) , presently both adults, overseas having Year________BETWEEN _________ Non Indian at address Shri ______________________________________________________ and

____________________________________________________________ ________________________________________________________ans having permanent address in India at, Flat no. _________________________________________________________ _________________________________________________________ ______________________________________________________ hereinafter referred to as the Sellers (Which expression unless repugnant to the context or meaning thereof shall mean and include their heirs, executors, administrators adults, Indian and assigns) Inhabitant, of the ONE residing PART; AND Shri Devendra Devidas Dafe and Smt. Kanchan Devendra Dafe Both presently at TYPE-IV, BLDG-26, QTR-152, RCF COLONY, CHEMBUR, MUMBAI-400074 , hereinafter referred to as the PURCHASER (Which expression unless repugnant to the context or meaning thereof shall mean and include his heirs, executors, administrators and assigns) of the OTHER PART: WHEREAS The sellers are residing out of India for the purpose of their occupation and are unable to frequently visit India, they have appointed there close relatives to act as their attorney for the purpose of selling of the aforesaid flat and to do other Deeds/Acts on their behalf as may be needed from time to time as stated in detail in their registered power of attorney vide registration no. ___________ dated ___________executed at the office of Sub-registrar of Navi Mumbai. The name and address of the aforesaid constituted attorney are as follows : NAME ______________________________________________________________ ADDRESS ______________________________________________________________ ______________________________________________________________ ______________________________________________________________

WHEREAS the purchasers have agreed to enter into this MOU with the Sellers represented through the aforesaid Constituted Power of Attorney. WHEREAS property being the Flat Sellers No. are the lawful owners of the Address

_________,

Floor__________,

:_____________________________________________________________ ______________________________________________________________ ____________________________________________________________. (hereinafter called and referred to as the said flat.)

AND WHEREAS the Sellers herein have acquired the said flat from their own funds from M/s.__________________ a firm of

Builders/Developers, who have constructed the said building, vide agreements dated and have since paid the full and entire consideration thereof to the concerned authorities and is presently holding the said flat admeasuring on OWNERSHIP BASIS.

AND WHEREAS the Sellers has represented to the Purchaser that they have been holding the above said flat on ownership basis and are desirous of transferring their right, title and interest in the said flat along with all the ownership rights in respect of the said flat and the Purchaser herein has also agreed to acquire the same. The final Agreement for Sale will be prepared and executed at the time of making balance full and final payment and till that time, this Memorandum of Understanding is made and executed by and between the parties hereto as under:

AND WHEREAS both the parties hereto have agreed to the above arrangements on the following terms and conditions: 1. The vendors have agreed to transfer their right, title and interest in the abovesaid flat and the interest in the flat to the Purchaser herein for the total lump-sum consideration of Rs. /- (Rupees only). 2. The purchaser herein has also agreed to acquire the said five shares for the total lump-sum consideration of Rs. will be paid by the Purchaser to the vendors as under: /- (Rupees Only) which sum

(a)

A sum of Rs. execution of this M. O. U.;

(Rupees : ) has been paid on or before

(b)

The balance sum of Rs. Purchaser to the vendors on or before parts viz.

(Rupees : ) will be paid by the ,in two

3.

(i) A Sum of Rs. ____________________( Rupees : _________________________________) on execution of the registered agreement to sale by the sellers themselves and not by the Constituted attorney within a period of Thirty days. (ii) The balance payment of Rs. ______________(Rupees ______________________________ will be paid through housing loan from financial Institution/Bank within 30 days from the date of executing the registered sale Agreement and delivery of the vacant and peaceful possession.

3.

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The vendors hereby declare that on execution of this MOU, they will simultaneously make an application to the abovesaid Builder/Developer for the grant of its NOC for sale in the name of the purchasers and NOC to mortgage of the said flat to the Financial Institution/Bank. The cost of obtaining the NOC shall be borne by the Sellers alone.

5.

The Sellers hereby declare that the land on which the

above

said building has been constructed fall under the category of 12.5 percent award land to Project Affected People and the same has been developed by the builders vide tripartiate agreements dated ________ executed between The original land owners , the Builders/Developers and M/. CIDCO Ltd. On payment of requisite transfer charge. However the transfer charge on account of the transfer of rights to the sellers from the builders if applicable and not paid by the builders will be borne by the sellers themselves. The Sellers undertake to pay all the charges, Dues and other outgoings required to hold absolute rights of the said flat on to their name before execution of the registered sale agreement. The cost of obtaining the NOC from CIDCO shall be borne by the Sellers alone.

6.

During the process of this transfer, if the Society Formation proposal

is initiated by the builder, than the Sellers shall co-operate in incorporating the name of the Purchasers in the original so that the purchasers do not have to pay the society transfer charges if becomes applicable upon formation of the society. 7. The stamp duty and registration charges, if any, will be paid solely by the Purchaser herein and for which the Sellers will not be held responsible. 8. The Purchasers hereby declare and confirm that the abovesaid flat is free from all encumbrances and that they have all the right and power to transfer the above flat

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This MOU has been executed at Navi Mumbai, the property is situated at Navi Mumbai and the payment is made at Navi Mumbai, hence it is subject to the jurisdiction of the courts of law at Navi Mumbai.

IN WITNESS WHEREOF the parties hereunto have put and subscribed their respective hands the day and year first hereinabove written.

SIGNED, SEALED AND DELIVERED By the withinnamed VENDORS In the presence of

) ) )

SIGNED, SEALED AND DELIVERED By the withinnamed PURCHASER )

) )

In the presence of

RECEIPT RECEIVED MR. (Rupees: from the withinnamed , a sum of Rs. ) being the part Purchaser,

payment/consideration of the sale and transfer of the Flat No.

I SAY RECEIVED, WITNESSES:

1.

VENDORS