TPA For Singh Rampravesh

TRIPARTITE AGREEMENT
THIS TRIPARTITE AGREEMENT is executed at SURAT and on the date stated in the
Schedule (Schedule forms a part of the Loan Agreement between the Borrower and Home First) hereto
BETWEEN
(A) Mr. Singh Ram Pravesh Shatrudhan (Co-Applicant: kusum ) the Borrower (hereinafter referred to as the
“Borrower” which expression shall, unless repugnant to the context or meaning thereof, mean and include [his]
[her][their] heirs, executors, administrators and successors-in-interest) of the First Part;
(B) Shidhan Mandal, (hereinafter referred to as the “Contractor”which expression shall, unless repugnant to
the context or meaning thereof,mean and include its successors-in-interest and permitted assignees) of the
Second Part; and
(C) HOME FIRST FINANCE COMPANY INDIA LIMITED, a company incorporated under the provisions of the
Companies Act, 1956 and having its registered office at 511, Acme Plaza, Andheri Kurla Road, Andheri East,
Mumbai 400059(hereinafter referred to as“Home First,”which expression shall unless repugnant to the context
otherwise requires, include its successors and assignees) of the Third part.
The Borrower, the Contractor and Home First are hereinafter individually referred to as a “Party” and
collectively as the “Parties”, as the context may require.
WHEREAS:
A. The Contractor is engaged in the construction and/or sale of Row Houses, Villas and
Apartments hereinafter referred to as “Housing Unit” and is building such units within the
project known as Om Lake Town-2 (hereinafter referred to as “Project”).
B. The Contractor hereby represents that he has obtained all the necessary approvals from the
appropriate/planning authorities with respect to commencing construction of the housing unit.
C. The Borrower is desirous of constructing a housing unit in the Project and for the said purpose
Borrower has engaged the services of the Contractor.
D. The Borrower has also deposited with the Contractoran amount as stipulated in the Schedule, being
the margin money towards part payment of the total sale consideration for the housing unit as
stipulated in the payment schedule of the Contractor-BuyerAgreement.
E. The Borrower has approached Home First for a housing loan for the balance amount to be paid to the
Contractor, and Home First has sanctioned an amount by way of its sanction letter of such date as
stipulated in the Schedule.
F. The Borrower and the Contractor have requested Home First to release the sanctioned loan subject to
the completion of loan documentation by the Borrower with Home First.
G. Home First having agreed to the said offer, the Borrower, the Contractor and Home First agree and
covenant with each other as follows:
i. The Borrower shall execute the required “Loan Agreement” with Home First and such other
documentation and comply with all terms and covenants thereon.
ii. Home First will release the loan amount based on the demand raised by the Contractor duly
endorsed and authorised by the Borrower in writing and based on progress of construction of
the housing unit and on the terms and conditions agreed by all Parties in this Tripartite
Agreement.
__________________ _________________ _____________________

Borrower Builder Home First
iii. The Contractor undertakes to construct the housing unit within the timelines committed in
the Contractor Buyer Agreement And in accordance with the approved plan and all applicable
law, including all statutory norms.
NOW THIS AGREEMENT WITNESSES AS FOLLOWS:
1. Home First will release the entire loan amount towards the sale consideration for the housing unit,
upon a demand being raised by theContractor duly endorsed and authorized by the Borrower in
writing or through email or through a recorded telephonic authorization and subject to the terms and
conditions as stipulated in the Loan Agreement executed by the Borrower with Home First.
2. It is agreed between the Parties that Home First shall make the aforesaid disbursement directly to the
Contractor and such disbursement shall be considered as a disbursement made to Borrower under the
Loan Agreement or any other agreement between Home First and the Borrower, which Borrower
acknowledges unconditionally. The Borrower further acknowledges that Home First shall only disburse
the aforesaid amount to the Contractor upon the Borrower completing such formalities as Home First
may mandate.
3. It is agreed between the Parties that the Contractor shall notify in writing the fact of the completion of
construction of the housing unit to Home First.
4. The Contractor shall not convey, transfer or give possession until sale deed is executed of the housing
unit being financed without express written consent of Home First. The Contractor undertakes not to
permit the Borrower to create any further encumbrance on the housing unit or induct a co-borrower
without the written consent of Home First.
5. The Borrower and/or the Contractor each hereby agree that neither of them shall cancel/alter the
allotment/booking/allocation of the housing unit without obtaining a ‘No Objection Certificate’ in
writing from Home First in that regard.
6. In the event of cancellation of allotment/booking/allocation of the housing unit by the Borrower or

the Contractor for any reason whatsoever including (a) the loan is recalled by Home First due to the
occurrence of any of the events of default as laid down in the loan agreement entered into between
Home First and the Borrower; or (b) cancellation of the loan or booking of the housing unit by the
Borrower; or (e) cancellation of the booking of the housing unit by the Contractor; or (f) the loan has
not been fully drawn by the Contractor within twenty four (24) months from the date of the first
disbursal, the Contractor undertakes to promptly and immediately refund to Home First the entire sale
consideration disbursed by Home First, Without requiring any further consent or authorisation for the
same from the Borrower. The Contractor hereby undertakes that the entire sale consideration
disbursed by Home First would be returned to Home First in full, without any set off, restriction,
condition or deduction. Any administrative charges that the Contractor intends to deduct in relation to
the cancellation of the allotment/booking/allocation of the housing unit would be from the amounts
contributed directly by the Borrower. However, if the cancellation of allotment/booking/allocation of
the housing unit is attributable to the Contractor, the Contractor undertakes to pay Home First the
entire sale consideration.
__________________ _________________ _____________________

Borrower Builder Home First

TPA For Singh Rampravesh

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TRIPARTITE AGREEMENT

__________ _ _____________

NOW THIS AGREEMENT WITNESSES AS FOLLOWS:

6. In the event of cancellation of allotment/booking/allocation of the housing unit by the Borrower or

__________ _ _____________

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