COLLABORATION AGREEMENT

This Agreement for new construction is executed at Gurgaon on … August 2016

between
Mr…………………………..S/o…………………………………………….
………………………………………………………………………………….,
hereinafter called the First party/ Owner, which expression shall include their legal
heirs/legal representatives and successors-in-interest of the First Part.

AND

Mr…………………………………….. S/o Mr. ……………………………. R/o

……………………………………………………………………………………...
(hereinafter referred to as Second party/Contractor), which expression shall include
his/their legal heirs/legal representatives and successors-in-interest of the Second
Part.

Whereas the First Party is the owner in possession of a Plot Number ______
Block-C Sushant lok-1, Gurgaon, Haryana. (hereinafter called the said property)

And whereas the First party has approached the Second Party and expressed
their intention to get the said plot constructed under collaboration arrangement and
both the parties have arrived at the following terms and conditions for the
construction of new building/house and have considered it expedient to enter into
this Agreement of construction of building / house under collaboration
arrangement.
 THEREFORE THIS AGREEMENT OF COLLOBORATION FOR
CONSTRUCTION OF BUILDING/ HOUSES PROVIDETH,
CONFIRMETH AND WITNESSETH AS UNDER:-

Share of both the Parties:

First party:-

A- Entire First floor and Fourth Floor; each comprising of 3 bedrooms

three toilet and one drawing cum dinning hall with car parkings in stilt
and One hall room, with toilet, accumulating to 450 Sq Ft of covered
area in Stilt.

Second Party:-

A- Entire Second Floor and Third Floor, each comprising of 3 bedrooms

three toilet one drawing cum dinning hall along with 4 car parkings in
stilt and two servant Rooms with a common toilet in the stilt.

As mutually agreed between both the parties, Builder is getting the Second and
Third Floor in lieu of cost of construction and an Amount of INR 40,00,000/-
(Forty Lakhs) has to be paid to the first party by the Second Party for this entire
deal on the said Plot Number _____, Block-C, Sushant lok-1, Gurgaon, Haryana.
The Second Party has also agreed to pay the First party a sum of INR 30,000/- per
month, for the next 15 months from the time of getting the sanction plan approved
from all the concerned Government Offices.

The payment Schedule for the consideration of Rupees Forty Lakhs are as follows:

Second Party/ Builder is paying a sum of Rs. 10,00,000/- (Ten lakhss ) at the time
of signing of the Collaboration Agreement.

Second Party/ Builder has to pay a sum of Rs. 10,00,000/- (Ten lakhs ) after the
casting of final lintel

Second Party/ Builder has to pay a sum of Rs. 10,00,000/- (Ten Lakhs ) after
receiving the Completion Certificate from the concerned authorities.

Second Party/ Builder has to pay a sum of Rs. 10,00,000/- (Ten Lakhs ) at
receiving the final possession of all the floors.
1. That the first party/owner has assured the second party/builder that the
said property is free from all sorts of encumbrances, burden, decree, prior
agreement, sale, mortgage, gift, lien, liability, injunction, court order, legal
flaws, litigation, stay orders, attachment or transfer etc and there is no legal
defect in the title and ownership of said property and if it is proved otherwise or
if the second party is deprived of the said property under collaboration or any
part thereof, due to any reason, the first party/owner shall be fully liable to
indemnify the second party in full to the extent of loss sustained by the second
party with costs and damages etc.
 
2. That the Second Party has agreed for construction of building / house on the
said Plot Number ____ Block-C Sushant lok-1, Gurgaon, Haryana. The
Second Party shall construct Stilt / First Floor / Second floor / Third Floor and
Fourth Floor over the said plot according to legal FAR applicable as per local
laws, with its own finance and shall arrange for all jig jags required for such
construction. Specification of material, fittings and fixtures etc placed at
Annexure.

3. That the First Party shall transfer ‘Second Floor and Third Floor’ in favor
of the Second Party in lieu of cost of construction and a sum of Rs 40,00,000/-
(Forty Lakhs) paid by the Second Party/ builder to the First Party. The First
party shall execute GPA and Will in favor of the Second Party for Sale of the
Second floor and Third floor at the time of completion and handing over
the owner’s allocation along with the Agreed amount. The GPA and Will
shall stand nullified ones after the First Party executes Sale Deed of Second
floor and Third floor in favor of Second Party or nominee of the Second Party.

4. Entire Second floor and Third floor will belong to second party/builder.
The second party/builder will be entitled to book Second floor and Third
floor of his share with any party and to execute the agreement to sell and to
receive the earnest money and part/full payment etc. in which the first
party/owner shall have no objection and First party will give witness such
agreement in case buyer of Second floor and Third floor express desires to
make First party witness to his Agreement.

5. The First Party/ Owner will execute sale deed or proper documents for
second party’s allocation in his favor or in favor of their nominee
immediately after Completion of Owner Share (Possession as per point A) in all
respect as per Annexure.
6. Architect Fee and all the Security Deposits payable to Govt./statutory
authorities/Maintenance agency shall be payable by the second Party. If
however Constructed area exceeds the legally permissible limit by up to further
compoundable 10% (ten percent), the penalty levied on such compounded area
shall be borne by the second party.

7. The second party/builder shall ensure that entire construction work is

completed in 15 months to be counted from date of sanction of Building
maps.

        
8. In case, construction is not completed within 15+3 months (Grace period) as
stated above, a penalty of Rs. 50,000/- Per Month shall be imposed and payable
by the second party/builder to the First Party, provided delay is not attributable
to First Party and for reasons beyond the control of Second party such as delay
in issuance of Completion certificate, flood, war, natural calamity affecting
normal course of work.

9. Drinking Water Meter and electricity meter to be installed and approval

for the same shall be obtained by the Second Party from the Competent
Authorities. All Maintenance agency Deposits in Ansal will be made by the first
party.  

10. During construction and till handing over of possession to the First Party,
electricity, water consumption charges shall be borne by the Second Party /
builder.

11. That the Second Party / Contractor shall provide & make arrangement for all
the building materials/laborers, tools, equipment, plants and accessories and
other jigs and jags required for the construction of the house/ buildings in
question and to execute the work as per the specification and drawings in
question.

12.  The builders shall also be responsible for any damage to buildings, whether
immediately adjacent or otherwise and any damage to roads, streets, foot-paths,
bridges or ways as well as all damages caused to the buildings, all labour issues
like their safety securities as per government norms and work forming the
subject to this contract by frost, rain, wind or other inclemency of weather.
 
13. That if the owner/First Party wants to get any extra work/ construction
(except as stated above along with Annexure) done from the contractor/Second
party for which the owner/ individual shall enter into separate Agreement with
the contractor with such separate terms and conditions as may be settled
mutually between them.

14. First Party / its authorized Representative shall have the right to visit /
inspect construction including material being used site from time to time and
point out any sort of discrepancy for timely rectification by the Second Party /
Contractor. First Party or its representative is authorized to select color of tiles
and shades of paint in rooms.

15. That in case of any dispute/misunderstanding between the parties on any

point, the matter shall be referred to the Gurgaon court of law whose decision
will be final and binding on both the parties. In such case, till final decision the
construction will remain as it is and time of construction will be deemed to be
extended accordingly.

16. This agreement is final and irrevocable and shall be binding on both the
parties and their respective legal heirs.

           IN WITNESS WHEREOF the parties have put and subscribed their hands
and signature on this agreement after having gone through the terms and
conditions of the same in token of its correctness on the day, month and year
hereinbefore written, in presence of the following:

WITNESSES:
                                                
1 (…………………..………)
                                                                                FIRST PARTY

(…………………)
2.
                                                                                         SECOND PARTY