Common use of Maintenance and Association Clause in Contracts

Maintenance and Association. Maintenance Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shallbe payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ [1.5]% per month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSD. If due to such adjustment the IFSD falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill. Interim Maintenance Period:

Maintenance and Association. Maintenance Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shallbe shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ [1.5]% 12% per month annum will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill. Interim Maintenance Period:.

Maintenance and Association. Maintenance Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shallbe shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ [1.5]% 12% per month annum will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill. Interim Maintenance Period:That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Vendor/ Developer (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto date.

Maintenance and Association. Maintenance Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee Allottees may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee Allottees will be required to complete the formalities of becoming a member of the Association. The Allottee Allottees shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shallbe shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee Allottees shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee Allottees fails to pay: (i) the Allottee Allottees shall not be entitled to avail any maintenance services; (ii) interest @ [1.5]% 12% per month annum will become payable by the AllotteeAllottees; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDadvance maintenance charges. If due to such adjustment the IFSD advance maintenance charges falls below the six months average of the Maintenance Charges, then the Allottee Allottees shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance billxxxx. Interim Maintenance Period:That it is agreed, declared and undertaken by the Purchaser that in the event of the Purchaser having taken deemed possession, he is liable to pay maintenance charges as stated hereinabove. It is further agreed, declared and undertaken by the Purchaser that in the event of non-payment of maintenance charges continuing beyond the complete usage of security maintenance deposit, the Purchaser shall be liable to pay “HOLDING CHARGES” to the Vendor/ Developer (in case till such time the HOLDING ORGANIZATION has not been formed), or to the HOLDING ORGANIZATION (in case it is formed thereon) of Rs. 2000/- (Rupees Two Thousand only) per month, till the payment of maintenance charges are regularized and brought upto date.

Maintenance and Association. i) Maintenance Upon completion of the Project the Promoter Developer will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the PromoterDeveloper, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shallbe shall be payable by the PromoterDeveloper. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter Developer and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ [1.5]% 1.5%% per month will become payable by the Allottee; and (iii) the PromoterDeveloper/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill. Interim Maintenance Period:xxxx.

Maintenance and Association. Maintenance Upon completion of the Project the Promoter will hand over its management for maintenance to the Association for which the Allottee may be required to execute an agreement (“Maintenance Agreement”) with the Association. The Allottee will be required to complete the formalities of becoming a member of the Association. The Allottee shall observe and abide by all the bye-laws, rules and regulations prescribed by the Association in regard to ownership or enjoyment of the Apartment or common areas and facilities in the Project. In the event the Association has been formed but there is/are Apartments in the Building that are not sold by the Promoter, till such time the unsold Apartments are not sold or transferred, all outgoings pertaining to the unsold Apartments shallbe shall be payable by the Promoter. Further the Allottees and/or the association shall not do any act deed or thing which may restrict or impede transfer of the unsold Apartments to any of the prospective Allottees. For the enjoyment and maintenance of the common areas and facilities of the Project, the Allottee shall be liable to remit per month the proportionate Maintenance Charges of such area and facilities as may be fixed by the Promoter and upon completion the Association from time to time. The Maintenance Charges shall become payable from the Possession Date. In case the Allottee fails to pay: (i) the Allottee shall not be entitled to avail any maintenance services; (ii) interest @ [1.5]% 1.5%% per month will become payable by the Allottee; and (iii) the Promoter/Association shall adjust the unpaid amount from the IFSDAdvance Maintenance Charges. If due to such adjustment the IFSD Advance Maintenance Charges falls below the six months average of the Maintenance Charges, then the Allottee shall make good the resultant shortfall within 15 (fifteen) days from the due date of the defaulted maintenance bill. Interim Maintenance Period:.