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AGREEMENTOF SALE
TillS AGREEMENT OF SALE is made and executed on this the FOURTH day of
AUGUST

BETWEEN:

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I. WHEREAS, the Vendor being desirous of disposing of the Schedule Property to meet
his urgent family necessities and in order to make alternative investments has come forward
making the following representations to the Purchaser :-

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(a)that the Vendor/s is/are the absolute owner/s of the Schedule Property and
that his/their title thereto is good marketable and subsisting and none else have any
right, title, interest or share therein,

(b) that the Schedule Property is, free of all encumbrances and that there are no suits,
acquisition or other proceedings pending before any court of law or authority
affecting or relating to the Schedule Property

(c) that the Vendor/s has/have not entered into any agreements or arrangements for sale
of their rights on the Schedule Property with anyone else,

(d) that the Schedule Property is not land in respect of which there is a prohibition
regarding sale and that there is no bar or prohibition or impediment to acquire, hold or
to sell the Schedule Property,

(e) there are no circumstances, by which the Vendor is prevented from agreeing to and
selling the Schedule Property to the Purchaser,

(f) that the Vendor/s has/have paid all the land revenues, taxes, cesses and other statutory
charges with regard to the Schedule Property upto date,

(g) that the Schedule Property is the self acquired property of the Vendor/s and the
same do not constitute or form part of any HUF,

(h) that the Vendor/s is/are in peaceful possession and enjoyment of the Schedule
Property based on the aforesaid representations of the Vendor/s and pursuant to the
scrutiny of the documents of title of the Schedule Property by the Purchaser and after
being satisfied on the marketability of the title of the Vendor with regard to the
Schedule Property, the Purchaser is interested purchasing the Schedule Property from
Vendor/son the terms and conditions set out hereunder.

NOW THIS AGREEMENT OF SALE WITNESSETH AS FOLLOWS:

That in pursuance of the foregoing and in consideration hereby agreed, the

Vendor/s, agrees to convey all their right, title and interest in respect of Schedule
Property, in favour of the Purchaser, subject to the following terms and conditions:
of the said payment in presence of the witnesses herein below.
1. That the parties herein agree that, the balance sale consideration of Rs 12,00,000/
(Rupees Twelve lakh only), shall paid by the Purchaser to the Vendors at the time of
execution of deed of sale in the name of the Purchaser or his/her/its/their nominees.

TIME FOR COMPLETION OF SALE:

2. That both the parties herein agree that the entire sale transaction will be completed
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 within 3 months days from the date of this Agreement of Sale.

3. The Vendors and the Purchaser herein agree and understand that subject to the
extension of time as stated, time shall be the essence of this Agreement.

VENDOR'S OBLIGATIONS:
4. That the Vendors herein confirm and undertake that the Schedule Property is free
from all kinds of encumbrances, litigation's, minors claim, acqu1s1tton
proceedings, court attachments etc. and there is no lien of any nature over the
Schedule Property to any third party excepting that there exists a home loan with
State Bank of India

5. That the Vendor/s hereby confirm and undertake to discharge/release the Pending
Mortgage deed with State Bank of India within 07 days from the date of this
Agreement of Sale.

6. That the Vendor/s further agree and confirm that he/she/they shall arrange for original
verification of entire title, revenue, survey, conversion, Layout Approval order and
other documents within 15 days from execution of this Agreement of Sale.

7. The Vendors further agrees and confirms to the purchaser that in case of any defect in
the title of the Schedule Property, the Vendors shall take the responsibility to rectify
the same with her/his/their own cost and expenses and in case the rectification is
carried out by the purchaser/nominee himself, the Vendors shall cause all assistance

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 and sign such papers and documents to enable the purchaser to rectify the defect in
title and thus incurred expenditure shall be recovered by the purchaser from the sale
proceedings/consideration.

8. The Vendors further confirms that the Schedule Property is not land in respect of
which there is a prohibition regarding sale and that there is no bar or prohibition or
impediment to acquire, hold or to sell the Schedule Property.

9. The Vendors further confirms that there are no circumstances, by which the Vendors
is/are prevented from agreeing to and selling the Schedule Property to the Purchaser.

10. The Vendor/s further confirms that the Schedule Property is the self acquired property
of the Vendors and the same do not constitute or form part of any HUF,

11. That the Vendor/s herein, assured and undertake to the Purchaser that the signature of
all her/his/their legal heirs will be obtained by him/her/them, at time of
registration/execution of the Sale deed in respect of the Schedule Property to confirm
the sale transaction in favour of the Purchaser/nominee herein.

12. That the Vendor/s agree and undertake that he/she/they will pay and discharge all
outgoing in respect of the Schedule Property up to date of completion of the
purchase

13. The Vendors assure the Purchaser that they shall have the original documents released
from State Bank of India (There exist a home loan against the Schedule property),
obtain necessary property tax assessment extract, latest katha certificate, Katha
Extract, latest tax paid receipt, upto date encumbrance certificate and any other deeds
required for perfecting the title of the property and all such necessary documents from
concerned department pertaining to the Schedule Property to facilitate documentation
for Sale Deed Registration.

INDEMNITY
14. The Vendors shall indemnify and keep indemnified, the Purchaser, against all losses,
claims and expenses, arising out of want or defect in title of the Vendors or their
predecessors-in-title.
 ESCALATION OF SALE PRICE:
15. The Vendors confinns that no additional charges or cost shall be demanded by the
Vendors from the purchaser other than the agreed sale consideration as detailed
above.

LEGAL DOCUMENTATION
16. The Vendors agree and confirm that, in case the Vendors fails to furnish all the
required title, revenue, survey, approved plans and other documents, or execute
necessary deed of sale / deed of conveyance or causes delay in execution of necessary
deed of sale/ deed of conveyance in favour of the purchaser/nominee, the purchaser
shall have all rights to approach to the jurisdictional Court of law to enforce the
execution of deed of sale or seeking for Specific Perfonnance Or the Purchaser shall
extend the time at Purchaser/s option.

17. That the Vendors herein shall within a period of 3 0 days from the date of this
Agreement of Sale, at the expenses of the Vendors, shall apply, obtain and deliver to
the purchaser the documents as demanded by the purchaser pertaining to the Schedule
Property.

18. That the Vendor/s undertakes and confirms to hand over all the original and relevant
certified copies of documents to and in favour of the Purchaser herein on the date of
execution of Sale deed.

REGISTRATION CHARGES AND STAMP DUTY:

19. That both the parties agree that the expenses incurred on the registration of the
Schedule Property in favour of the purchaser or on his/its nominees, like stamp duty,
registration charges, legal expenses, etc shall be borne by the purchaser
itself/himself/themselves.

DEFAULT:
20. The Vendor/s agree and confirm that, in the event of default or delay by the purchaser
to complete the transaction; the Vendor/s shall repay the amount received till date by
the purchaser along with a nominal additional amount to the Vendor/s.. Whereas in
the event of default or delay by the vendor/s to comply with the terms and conditions
of this Agreement, the Purchaser shall have the right to approach court of law seeking
for specific performance or at the option of the purchaser he shall claim with interest
@ 12% the amount paid till date to the vendor/s.

ARBITRATION:
21. All or any dispute or claim arising out of this Agreement including interpretation of
any of the terms of this Agreement shall be referred to arbitration by the a Sole

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 Arbitrator to be nominated by the Purchaser and venue of arbitration shall be at
Bangalore.

POSSESSION OF THE PROPERTY

22. The possession of the schedule property shall be delivered to the purchaser on the
date of execution of the sale deed.

NOMINATION
23. The Vendors shall execute the Sale Deed with regard to the Schedule Property or any
of its portion/s thereof in favour of the Purchaser/s or any of his norninee/s, at no extra
cost. The Original of this agreement is with the Purchaser and a copy thereof is with
the Vendor.

SCHEDULE PROPERTY
VENDOR

2)

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