MEMORANDUM OF UNDERSTANDING

This MEMORANDUM OF UNDERSTANDING is made and entered into at

Mumbai on this______ day of Month, 2001,
BETWEEN
MR. ________________________, (Age - 00 Years), an adult, having his residence
address at Flat No. - 000, 0st Floor, Wing X In the building known as
XXXXX Building, situated at Xxxxxxxxxxxxxxxxxxxxxxxxxxxx, Powai, Mumbai
400 076, (which expression shall unless it be repugnant to the context or
meaning thereof be deemed to mean and include their respective heirs,
executors, administrators and assigns) as the Transferors/Sellers of the One
Part.
AND
MR. XXXXXXXXXX (Age 00 Years), adult, Indian inhabitants, having their
residence address at Flat No. - 00, ____________________________, Powai,
Mumbai 400076, (which expression shall unless it be repugnant to the
context or meaning thereof be deemed to mean and include their respective
heirs, executors, administrators and assigns)as the Transferee/ Buyer of the
Other Part.
MR. ______________________ (Age- 30 Years), Owner of the Flat No. - 0000, 0st
Floor, Wing X In the building known as Xxxxxxx Building, situated at
Xxxxxxxxxxxxxxxxxxxxxxx, Powai, Mumbai 400 076, about 88.53 Sq. mtrs.
carpet area, with one open car parking, agreed to sell the said flat, share
certificates, society membership, and club membership (identified by both the
parties) for a total consideration amount of Rs. 0,00,00,000/- (Rupees
Xxxxxxxxxxxxx Only). And the purchasers MR. ________________________ have
agreed to buy the same as per the following terms and conditions:
1. Out of the total sum of Rs. 0,00,00,000/- (Rupees Xxxxxxxxxxxx Only),
the transferees have paid a total sum of Rs. 00,00,000/- (Rupees
Xxxxxxxx Only) by cheque no. ______________ on dated _____________,
Drown on _______________________ as an token advance.

2. The Purchasers would further pay an amount of Rs. 00,00,000/- (Rupees

Xxxxxxxx Lac Only) towards part payment by cash before one day at the
time of signing & registration of the agreement & Purchasers pay an
amount of Rs. 00,00,000/- (Rupees Xxxxxxxx Lac Only) towards part
payment by cheque at the time of registration of the agreement on
_________________2001.

3. As

per

the

mutual

understanding;

00,00,000/- (Rupees Xxxxxxx only)

the

balance

amount

will be paid by

of

Rs.

a Demand

Draft/Cheque/Funds Transfer directly in the seller`s name by the bank

from where the purchasers availing housing loan, within 45 to 60
working days from the date of the token amount paid to the seller. The
seller will give possession of the flat immediately on receiving full and
final

payment

and

completion

of

all

legal

formalities

and

documentations.

4. Both the parties have agreed to complete the registration of documents,

making full and final payments and handing over the possession of the
flat on or before ___________________ 2001.

5. The Seller will provide all the necessary documents required by the
purchaser to acquire a housing loan from the bank and for the
completion of the transfer deed.

6. The stamp duty and registration charges will be borne by the purchasers
and the Transfer charges payable to the society or builder will be equally
shared by both the parties.

7. All dues on the said flats viz. Society/builder maintenance charges,

electricity charges, telephone charges, cable T.V. charges, till date of
possession shall be cleared by the Seller and thereafter to be borne by
the Purchasers.

8. On receiving the balance consideration, the Seller shall immediately put

the Purchaser in vacant possession of the said Flat and shall surrender
their right, title and interest in favour of the Purchaser and the
Purchaser shall be entitled to quietly enter upon, leave, hold, occupy,
possess and enjoy the said Flat together with the fittings, fixtures and
other amenities provided by the said builders and absolutely without any
let or sub-let.

9. The Seller & The Purchaser have agreed to pay 1% amount of total
consideration as a brokerage/Service charges to M/S UTKARSH GROUP
Registered Member with THE ESTATE AGENT ASSOCIATION OF
INDIA, operating at 2, Rosy House, Near Powai Hospital, Opp. I. I. T.

Main Gate, Powai, Mumbai 400076. as the Real Estate Agent. The
payment will be made on completion of the registration and handover of
possession to be completed on________2001.
10.

If the Purchasers failed to complete the formalities within the

stipulated time period, a sum of Rs. 0,00,000/- (Rupees Xxxxx Lac Only)
will be deducted, the money paid as a token/earnest money advance,
and no liabilities shall be claimed.
11.

And if the sellers failed to do so, they have to pay to the

purchasers a sum of Rs. 0,00,000/- (Rupees Xxxx Lac Only) as

compensation amount in addition to the total money received.

12.

If any how the deal is canceled, in that case both the parties will be

liable to pay 0.5% of the total consideration as brokerage/service charge

to their respective Real Estate Brokers.

I say, I have received a sum of Rs. 00,00,000/- (Rupees Xxxxxx Lac Only) by
cheque as a token advance and also agree to the above terms and conditions.

Signed and Delivered by the within

named Transferor
MR. ______________________________
In the presence of_________________
1.________________________________
2.________________________________

Signed and Delivered by the within

named Transferee
MR. ______________________________
In the presence of__________________
1.__________________________________
2. _________________________________

RECEIPT
Received from the within named MR. XXXXXXXXXX a sum of Rs.
00,00,000/- (Rupees Xxxxxxx Lac Only) vide Cheque/P.O./D.D.No./ RTGS
____________ dated __________2001 by

_______________________ Bank, being

Earnest Money amount towards the sale and transfer of the said Flat No. 0000, 0st Floor, Wing X In the building known as Xxxxxx Building, situated
at Xxxxxxxxxxxxxxxxxxxxx Powai, Mumbai 400 076, about 0000 sq.mtrs.
Carpet area as per the terms referred herein above in the sale agreement.

I SAY RECEIVED
(Rs. 00,00,000/-)
(Rupees Ten Lac Only)

MR. Xxxxxxxxxxxxx

(Seller)

Place : Mumbai
Date : ___________

Witnesses:

1. ______________________

Signature ___________________

2. ______________________

Signature ___________________