Lease of Land in case of Apartments Sample Clauses

Lease of Land in case of Apartments. In case of appartment, built-up area shall be allotted to the person with whom the Lease deed for the dwelling unit has been executed, by the Developer, as per applicable laws, on a lease of 30 years The initial lease period shall be 30 years , which shall be renewed for two such terms each of 30 years. Annual Lease rent at the rate of 2% of the notional premium determined by NRDA in consideration of the pro rata Development Premium of the land parcel which is covered area by an appartment/plot/dweeling unit, shall be collected by Owners Association/Housing Society from members of Owners Association/Housing Society and shall be paid by Owners Association/Housing Society to the NRDA in advance. Such annual lease rent shall be increased maximum upto 100% percent at the each renewal. The developer shall develop the project as per the terms of this agreement. He shall even execute the lease deed as per clause 4.1 of this agreement. Once all the units are sold and all obligations as per this agreement are fulfilled by Developer then Conveyance deed shall be executed between the Owners association/housing society of the project and NRDA with Developer as a confirming party to the said Conveyance deed. The society shall issue a membership certificate to all the owners of the dwelling units/flats/plots. All cost towards execution of Conveyance deed shall be the liability of the developer and/or Owners association/housing society as mutually agreed between them. The annual lease rent in case of the common facilities like open area, circulation area, green spaces, land for Recreation Club and Community Centre,shall be paid in advance by Owners Association/Housing Society at the rate of 2% of the notional premium determined by NRDA. The lease deed will clearly specify that only the land has been provided by NRDA to the Developer and the Developer is solely responsible for construction and development, their quality, timely delivery of Residential Units, and all claims/liabilities and compensation towards defects/delay or any consumer greviences whatsoever. All expenses in respect of execution and registration of the Lease Deed or Agreement to Lease, as the case may be, including the Stamp Duty and registration fee, shall be borne by the Residential Unit purchasers.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs

Related to Lease of Land in case of Apartments

  • Lease of Premises Subject to and upon the terms and conditions set forth herein, Landlord hereby leases the Premises to Tenant, and Tenant hereby leases the Premises from Landlord.

  • Use of Premises The Premises shall be used and occupied by Tenant and Tenant's immediate family, consisting of , exclusively, as a private single family dwelling, and no part of the Premises shall be used at any time during the term of this Agreement by Tenant for the purpose of carrying on any business, profession, or trade of any kind, or for any purpose other than as a private single family dwelling. Tenant shall not allow any other person, other than Tenant's immediate family or transient relatives and friends who are guests of Tenant, to use or occupy the Premises without first obtaining Landlord's written consent to such use. Tenant shall comply with any and all laws, ordinances, rules and orders of any and all governmental or quasi-governmental authorities affecting the cleanliness, use, occupancy and preservation of the Premises.

  • Use of Buildings In addition to use and control of the Church and Parish buildings for the discharge of duties of the Xxxxxx'x office, as provided by Canon law, the Xxxxxx shall have the right to grant use of the buildings to individuals or groups from outside the parish, following guidelines approved by the Xxxxxx, Wardens and Vestry.

  • SALE OF PREMISES Notwithstanding anything contained in this Lease to the contrary, the sale of the Premises by Landlord shall not constitute Landlord’s acceptance of Tenant’s abandonment of the Premises or rejection of the Lease or in any way impair Landlord’s rights upon Tenant’s default, including, without limitation, Landlord’s right to damages.

  • Use of Building With prior notice to the principal/director, Association members of that school may hold meetings in their school building before or after regular duty hours or after the student contact day. Assigned duties take priority over such meetings.

  • Lease of Property Landlord, for and in consideration of the covenants and agreements herein contained on the part of Tenant to be paid, kept, observed, and performed, hereby leases to Tenant, and Tenant hereby leases from Landlord for the Term (as hereinafter defined), the Property. Tenant’s use of the Property shall be in compliance with the terms of this Lease.

  • MAINTENANCE OF THE BUILDING /APARTMENT / PROJECT The Promoter shall be responsible to provide and maintain essential services in the Project till the taking over of the maintenance of the project by the Association upon the issuance of the completion certificate of the Project. The cost of such maintenance has been included in the Total Extras and Deposits as mentioned in clause 1.2.

  • General Description of Land Use 3.3.1 The use(s) of the Lands permitted by this Agreement are the following:

  • MAINTENANCE OF CONCESSION PREMISES A. Concessionaire shall preserve and maintain the Concession Premises in good and clean condition, reasonable wear and tear excepted. Concessionaire is solely responsible for the maintenance and cleanliness of the Concession Premises.

  • Construction of Agreement The parties mutually acknowledge that they and their attorneys have participated in the preparation and negotiation of this Agreement. In cases of uncertainty this Agreement shall be construed without regard to which of the parties caused the uncertainty to exist.

Time is Money Join Law Insider Premium to draft better contracts faster.