Common use of DISPUTERESOLUTION Clause in Contracts

DISPUTERESOLUTION. All or any disputes arising out or touching upon or in relation to the terms and conditions of this Agreement, including the interpretation and validity of the terms thereof and the respective rights and obligations of the Parties, shall be settled amicably by mutual discussion, failing which the same shall be settled through the Adjudicating Officer appointed under the Act. All that piece or parcel of land measuring 1.172253 Acre or more or less 71 Kathas forming part of R.S.Plot Nos. 150, 148/433 and 150/440, recorded in R.S.Khatian No.-144 and 143, corresponding to L.R.Plot No.-15, corresponding to L.R.Khatian No.-275, situated within Mouza - Dabgram, ▇.▇. No.2, Pargana - Baikunthapur, R.S.Sheet No.9, corresponding to L.R.Sheet No.53, P.S.- Bhaktinagar, within Eastern Bypass Road, within Dabgram-II Gram Panchayat area, Registry Office and District – Jalpaiguri, in the State of West Bengal. The said building complex has been named as “▇▇▇▇▇ SQAURE”. BY NORTH : Property of ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ and others, BY SOUTH : Property of Prime Developers, BY EAST : Property of ▇▇▇▇▇▇▇▇ ▇▇▇ and others WEST : 100 feet wide pucca Eastern Bypass Road. SCHEDULE – 'B' (DESCRIPTION OF APARTMENT) All that Residential Flat, being Flat No. , measuring Sq.ft. ( Built-up area ) having Sq.ft.,( Super Built-up area), Block- at Floor of the building together with Servant Quarter at Floor and Covered Car Parking Space at Floor of the Complex named “▇▇▇▇▇ SQUARE”, together with undividedproportionate share in the Schedule-A land on which the said building stands. On Booking/ Agreement 10% On Foundation 10% On Ground Floor Roof Casting of Respective Block 10% On First Floor Roof Castingof Respective Block 10% On Second Floor Roof Castingof Respective Block 10% On Third Floor R oof Castingof Respective Block 10% On Fourth Floor Roof Castingof Respective Block 10% On Fifth Floor Roof Casting of Respective Block 5% On Sixth Floor Roof Casting of Respective Block 5% On Seventh Floor Roof Casting of Respective Block 5% On Brick and Plaster of Purchased Unit 10% On Registration or Handover 5% All payments under installment payment plan shall be made within a maximum period of 10 days of issue of demand letter or mail, otherwise interest applicable as per rule shall be charged. In case payment is not made for two months from the demand date then the booking can be cancelled at the sole discretion of the Vendor. The Vendor shall deduct booking amount plus applicable GST on the amount so received till such time and refund the balance payment, without any interest thereon. All payment received alter due date will be first applied towards applicable Interest and other sums if any due and thereafter towards the installment. No payment will be received after due date without the payment of applicable interest if any. SCHEDULE - D (SPECIFICATION OF FLAT) 1. Structure : R.C.C. framed structure. 2. Finish : Internal wall finished with putty and one coat of cement primer. 3. Flooring : All floor finished with vitrified tiles. 4. Door : Shutter Gates. 5. Window : Aluminium window. 6. Electrical Wiring: Entire wiring will be concealed with Copper wire and modular switch. 7. Sanitation : Made of Rocca or Hindware or equivalent, One commode and one wash basin in each common toiletwill be provided. 8. CP Fittings : Jaguar or Rocca or equivalent in common wash area. 1. All expenses for maintenance, operating, replacing, repairing, renovating, white washing, painting and repainting of the common portions and the common areas in the building including the outer walls of the building. 2. All expenses for running and operating all machinery, lift, equipment and installations, comprised in the common portions including water pumps, generator including the cost of repairing, renovating and replacing the same. 3. The salaries, bonus and other emoluments and benefits of and all other expenses on the persons employed or to be employed for the common purposes such as manager, caretaker, supervisor, accountant, security guard, sweepers, plumbers, electricians and other maintenance staffs. 4. Cost of insurance premium for insuring the building and/or the common portions. 5. All charges and deposits for supplies of common utilities to the co-owners in common. 6. Tax, water tax, and other levies in respect of the premises and the building ( save those separately assessed in respect of any unit or on the purchaser ). 7. Costs of formation and operation of the service organization including the Office expenses incurred for maintaining the office thereof. 8. Electricity charges for the electrical energy consumed for the operation of the equipment and installations for the common services and lighting the common portions including system loss for providing electricity to each unit. 9. All litigation expenses incurred for the common purpose and relating to common use and enjoyment of the common portions. 10. All other expenses and/or outgoings as are incurred by the vendor and/or the service organisation for the common purposes.

DISPUTERESOLUTION. All or any disputes arising out or touching upon or in relation to the terms and conditions of this AgreementAgreement between the Parties or his/her/their Nominee or Representatives with regard to the construction, including or any other matters shall be referred to Arbitration and the interpretation and validity decision of the terms thereof Sole Arbitrator, if the Parties in dispute so agree, otherwise to two or more Arbitrators, according to Parties of this Agreement one to be nominated by each party or his/her/their representatives and in case of different opinion between them by the respective rights and obligations Person selected by them at the Commencement of the Parties, reference and this clause shall be settled amicably by mutual discussiondeemed to be a submission within the meaning of the Arbitration and Conciliation Act,1996 including its statutory modification and re- enactment. IN WITNESS WHEREOF parties hereinabove named have set their respective hands and signed this Agreement forsaleatSiliguri (city/town name) in the presence of attesting witness, failing which signing as such on the same shall be settled through day first abovewritten. Allottee: (including joint buyers) (1) (2) At on in the Adjudicating Officer appointed under the Actpresenceof: Promoter/Owner: (1) (AuthorizedSignatory) WITNESSES: 1. Signature Name – Address 2. Signature Name– Address All that piece or parcel of Vacant land measuring 1.172253 Acre about 39(Thirty Nine) Kathas 13(Thirteen) Chhataks or more or less 71 Kathas forming part of R.S.Plot Nosequal to 65(Sixty Five) Decimals along with the Complex named “PARK VIEW RESIDENCY” having (Partly Ground + 5 & Parking + 5 Storied Residential Cum Commercial Building), appertaining to R. S. Plot No. 150, 148/433 and 150/440209 corresponding to L. R. Plot No. 31, recorded in R.S.Khatian No.-144 and 143, R. S. Khatian No. 547 corresponding to L.R.Plot No.-15L. R. Khatian No. 86, under R. S. Sheet No. 8 corresponding to L.R.Khatian No.-275L. R. Sheet No. 35, ▇. ▇. No 2, situated within Mouza - Dabgramat Mouza-DABGRAM, ▇.▇. No.2, Pargana - Pargana–Baikunthapur, R.S.Sheet No.9, corresponding to L.R.Sheet No.53, P.S.- P.S. Bhaktinagar, within Eastern Bypass Road, within Dabgram-II Gram Panchayat area, Registry Office and District Dist– Jalpaiguri, within Siliguri Municipal Corporation in the State of West Bengal▇▇▇▇ No. “XXXXI”, Located at Jyotinagar, Addl. Dist. Sub-Registry Office Bhaktinagar, Dist. Jalpaiguri. The said building complex has been named land is butted and bounded as “follows:- By the North: 24 Ft. wide S. M. C Road By the South: Land of Siliguri Rolling Mill and Mayfair Residency By the East : ▇▇▇▇▇▇ SQAURE”. BY NORTH Residency By the West : Property Land of ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇, ▇▇▇ & Smt. ▇▇▇▇ ▇▇▇▇▇▇▇ ALL THAT one residential flat (Tiles/Marble floor) measuring carpet area more or less about 1525(One Five Two Five) Sq. Ft. or equal to 141.67 square meter and others, BY SOUTH : Property of Prime Developers, BY EAST : Property of ▇▇▇▇▇▇▇▇ ▇▇▇ and others WEST : 100 Total super Built up area 2357(Two ThreeFive Seven) Sq. feet wide pucca Eastern Bypass Road. SCHEDULE – 'B' (DESCRIPTION OF APARTMENT) All that Residential Flator equal to 218.97 square meter at 4thFloor, being Flat No. flat No.―E-4‖, measuring Sq.ft. ( Built-up area ) having Sq.ft.,( Super Built-up area)Block - ―III‖, Block- at Floor of the building named “PARK VIEW RESIDENCY” along with aRoof Covered Parking measuring around 135 Sq.ft at the Ground floor of the buildingconstructed on the land as described in Schedule- ―A‖ herein above together with Servant Quarter at Floor undivided and Covered Car Parking Space at Floor of the Complex named “▇▇▇▇▇ SQUARE”, together with undividedproportionate impartible proportionate share in the Scheduleland. Contd. to next sheet That the payment of the consideration amount of the Schedule ‗C‘ property shall be as follows: Particulars Rate At the time of Booking 30% At the time of 1st Roof Casting 10% At the time of 2nd Roof Casting 10% At the time of 3rdRoof Casting 10% At the time of 4thRoof Casting 10% At the time of 5thRoof Casting 10% At the time of 6thRoof Casting 10% At the time of Final Balance on Completion 10% Total 100% And in addition to the aforesaid consideration the Allotee/s shall be also liable to pay GST as applicable shall be charged additionally the following amounts to the Promoter/Owner. • Maintenance Charges as applicable • DG, power backup and extra as applicable • Legal Charges as applicable And Separate Cheques shall be issued by the Allotee/s to the Promoter/Owner for the above-A land mentioned heads of payment and Allotee/s is also liable to pay G.S.T. charges extra as applicable on which time to time for each head of payments. If any extra work will be done by the Promoter/Owner of the said building standsApartment, in thar event the Allottee will agree to bear and/or will pay the said extra work cost to the Promoter/Owner after written consent and/or written letter by the Allottee to the Promoter/Owner. On Booking/ Agreement 10% On Foundation 10% On Ground Floor Roof Casting In Case of Respective Block 10% On First Floor Roof Castingof Respective Block 10% On Second Floor Roof Castingof Respective Block 10% On Third Floor R oof Castingof Respective Block 10% On Fourth Floor Roof Castingof Respective Block 10% On Fifth Floor Roof Casting of Respective Block 5% On Sixth Floor Roof Casting of Respective Block 5% On Seventh Floor Roof Casting of Respective Block 5% On Brick and Plaster of Purchased Unit 10% On Registration any Flooring, Electrical, Plumber or Handover 5% All payments under installment payment plan Civil Works or Any Modification /Alteration inside the Apartment done by the Allottee at his/her /their own cost shall be made within a maximum period of 10 days of issue of demand letter or mail, otherwise interest applicable deducted by the Owner/Promoter as per rule shall be charged. In case payment is not made for two months from the demand date then the booking can be cancelled at the sole discretion of the Vendor. The Vendor shall deduct booking amount plus applicable GST on the amount so received till such time and refund the balance payment, without any interest thereon. All payment received alter due date will be first applied towards applicable Interest and other sums if any due and thereafter towards the installment. No payment will be received after due date without the payment of applicable interest if any. SCHEDULE - D (SPECIFICATION OF FLAT) 1. Structure : R.C.C. framed structurePromoter/Owner. 2. Finish : Internal wall finished with putty and one coat of cement primer. 3. Flooring : All floor finished with vitrified tiles. 4. Door : Shutter Gates. 5. Window : Aluminium window. 6. Electrical Wiring: Entire wiring will be concealed with Copper wire and modular switch. 7. Sanitation : Made of Rocca or Hindware or equivalent, One commode and one wash basin in each common toiletwill be provided. 8. CP Fittings : Jaguar or Rocca or equivalent in common wash area. 1. All expenses for maintenance, operating, replacing, repairing, renovating, white washing, painting and repainting of the common portions and the common areas in the building including the outer walls of the building. 2. All expenses for running and operating all machinery, lift, equipment and installations, comprised in the common portions including water pumps, generator including the cost of repairing, renovating and replacing the same. 3. The salaries, bonus and other emoluments and benefits of and all other expenses on the persons employed or to be employed for the common purposes such as manager, caretaker, supervisor, accountant, security guard, sweepers, plumbers, electricians and other maintenance staffs. 4. Cost of insurance premium for insuring the building and/or the common portions. 5. All charges and deposits for supplies of common utilities to the co-owners in common. 6. Tax, water tax, and other levies in respect of the premises and the building ( save those separately assessed in respect of any unit or on the purchaser ). 7. Costs of formation and operation of the service organization including the Office expenses incurred for maintaining the office thereof. 8. Electricity charges for the electrical energy consumed for the operation of the equipment and installations for the common services and lighting the common portions including system loss for providing electricity to each unit. 9. All litigation expenses incurred for the common purpose and relating to common use and enjoyment of the common portions. 10. All other expenses and/or outgoings as are incurred by the vendor and/or the service organisation for the common purposes.