Common use of OWNERSHIP ACT (OR THE RELEVANT STATE ACT Clause in Contracts

OWNERSHIP ACT (OR THE RELEVANT STATE ACT. The Developer has assured the Allottees that the project in its entirety is in accordance with the provisions of the [Please insert the name of the Apartment Ownership Act. The Developer showing compliance of various laws/regulations as applicable in 20 BINDING EFFECT : Forwarding this Agreement to the Allottee by the Developer does not create a binding obligation on the part of the Developer or the Allottee until, firstly, the Allottee signs and delivers this Agreement with all the schedules along with the payments due as stipulated in the Payment Plan within 30 (thirty) days from the date of receipt by the Allottee and secondly, appears for registration of the same before the concerned Sub-Registrar (specify the address of the Sub-Registrar) as and when intimated by the Promote. If the Allottee(s) fails to execute and deliver to the Developer this Agreement within 30 (thirty) days from the date of its receipt by the Allottee and/or appear before the Sub-Registrar for its registration as and when intimated by the Developer , then the Developer shall serve a notice to the Allottee for rectifying th default, which is not rectified within 30 (thirty) days from the date of its receipt by the Allottee, application of the Allottee shall be treated as cancelled and all sums deposited by the Allottee in connection therewith including the booking amount shall be returned to the Allottee without any interest or compensation whatsoever.