TRIPARTITE AGREEMENT

Present Agreement is made and executed here at On this

day of 2023
among Shri/Smt. , son /daughter/wife of Shri/Smt.
R/o.

hereinafter called the “Borrower” (which may so far as the context admits shall mean and
include his/her heirs, executors, successors, administrators and legal representatives) and/ or the
party to the First Part of the present,

And

-------------------------------- a Company/LL.P. incorporated under the Companies Act 1956 or, a

partnership firm under the Partnership Act /Society incorporated under the Society Registration
Act having its registered office at
acting through their authorised signatory /Director/Partner Shri/Smt. ,
son/daughter/wife of Shri/Smt. , authorised vide Board Resolution
dated hereinafter referred to as the "Builder" (which expression shall unless the
context otherwise requires, include its successors and permitted assigns) and/ or party to the
Second Part of the present,

And

AXIS BANK LIMITED, a Scheduled Commercial Bank and a Company incorporated under the
Companies Act, 1956 carrying on its business of Banking and finance as permissible under the
Banking Regulations Act, 1949 and having its registered office at ‘Trishul’, 3rd Floor, Opposite
Samartheshwar Temple, Law Garden, Ellis Bridge, Ahmedabad-380006, Gujarat, and having its
branch office at
hereinafter
called as “Bank” (which expression shall unless the context otherwise requires, include its
successors and permitted assigns) and/ or the party to the Third Part of the present,

(That for the sake of brevity and convenience, the Borrower, Builder and Bank shall collectively
hereinafter be referred to as the “Parties” to the Present)

WHEREAS the Borrower desires to purchase property at

_(hereinafter
referred to as the “PROJECT”) from the Builder, which as part of its business activity has been
developing the said project. Builder has invited expression of interest by way of application for
allotment and subsequent sale on completion of the project.
AND WHEREAS the Builder and the Borrower have already satisfied themselves with each other’s
credentials and ability to perform in terms of Builder-Buyer Agreement/Apartment Buyer
Agreement / Agreement to sell. In consonance with the same, Borrower represented that the
Builder is of his own choice and that he has satisfied himself with regard to its integrity, capability
for quality construction and its ability for completion and delivery of the Project in time.

AND WHEREAS the Builder and the Borrower have entered into an agreement dated
< > for the sale-purchase of Unit no.

(hereinafter referred to as the “subject property”) in the said Project of the Builder;

AND WHEREAS the Borrower and the Builder have jointly approached the Bank for a home loan
of Rs. /- towards payment of the sale / purchase consideration of the residential
apartment in the Project;

AND WHEREAS based on several representations made by the Borrower and the same being
acknowledged and consented to by the Builder, Bank sanctioned a home loan of
Rs. /- (Rupees only) to the
Borrower, to be disbursed in terms of the Loan Agreement dated and ancillary
documents therewith (hereinafter collectively referred to as the "Loan Agreement") duly
executed by the Borrower;

AND WHEREAS the Bank based on such representation agreed to disburse loan in its sole
discretion in accordance with ‘Disbursement Request Form’ being executed by the Borrower and
the fact of such execution of disbursement request form is hereby confirmed and acknowledged
by the Borrower herein;

AND WHEREAS the Parties are executing the present principal to principal Agreement in
addition to their respective inter-se Agreements, setting out mutual obligations, constituting
consideration for each other, terms whereof are mentioned hereunder:-

1. The Bank has agreed to grant a loan of Rs. /- in terms of the said Loan
Agreement and as per disbursement request form signed by Borrower in tranches.

2. The Borrower shall ensure to pay to the Builder his own contribution in full i.e., the cost of
the subject property minus the loan amount being disbursed by the Bank before availing of
the disbursement from the Bank.
3. The Borrower has authorised the Bank to pay the loan amount sanctioned by the Bank
directly to Builder in the account as mentioned by the Borrower in the disbursement request
form. The Borrower unequivocally and expressly acknowledge and consent that payment to
the said Builder shall be deemed to have been disbursed directly to the Borrower. Any
balance payment or any payment towards escalation of the cost of the subject property shall
be made by the Borrower himself to the Builder and the Bank shall not be liable for any
amount whatsoever other than that agreed under the Loan Agreement.

4. The Borrower has agreed to mortgage the subject property in favour of the Bank on its
completion and execution of conveyance deed by way of ‘deposit of title deeds’ after due
compliance of the process as mandated under the internal policy decision of the Bank in this
regard. That security interest in the subject property shall remain as a continuing security till
the satisfaction of liabilities under the subject loan Account.

5. The Borrower has agreed to discharge his liabilities in terms of Repayment

Plan/Amortisation Schedule inscribed or being part of the said Loan Agreement. That the
Borrower has acknowledged that Borrower’s obligation to repay the loan shall be a distinct
and independent obligation more particularly independent of any issues/concern/dispute of
whatsoever nature between the Borrower and Builder. That it is further acknowledged by
the Borrower that the Bank shall not be responsible or liable to ensure or ascertain the
quality and /or progress of construction. Mere demand for payment on part of Builder will
be sufficient for the Bank to effect disbursement as aforesaid. However, the Bank in its
discretion may inquire about the status of construction and any other query (if any) relating
to the project from the Builder and the Builder in turn shall remain liable to apprise the Bank
with regard to the said requisitioned status of construction and any other further query (if
made) within a week of service of the said requisition.

6. Further, the Borrower authorises the Bank to enforce rights available in favour of the
Borrower under Builder-Buyer Agreement /Apartment Buyer Agreement / Agreement to sell,
notwithstanding the Present being a Principal to Principal Agreement.

7. That the Builder has acknowledged that in terms of the Present and disbursement request
form the Borrower. That Builder hereby acknowledges and undertakes to mark lien and also
hereby acknowledges the charge over subject property in favour of the Bank in its
records/books of accounts and shall not allow creation of any further encumbrance or
interest by way of sale, mortgage or otherwise, in favor of any other person without prior
written consent of the Bank.
 8. That Builder will deliver to the Bank the Sale Deed/Conveyance Deed/Sub-lease/Title Deeds
relating to the subject property as and when executed and registered in favour of the
borrower, which under no circumstances shall go beyond a year time from the date of
completion of the project. Builder shall also inform the Bank in writing at least a week in
advance regarding the time, date & Venue of registration so that the Bank can send its
representative to collect the original sale deed/Conveyance Deed/Sub-lease Deed /Title
Deeds relating to the subject property on registration. The Borrowers expressly and
irrevocably authorises the Builder and the Bank in this regard.

9. That before execution of Sale Deed/Conveyance Deed/Sub-lease Deed /Title Deeds relating
to the subject property in favour of the Borrower, Builder shall seek confirmation from the
Bank in writing about the subject loan account being regular and will not proceed with
execution of conveyance deed and its registration in case of subject loan account being
irregular in the Books of Account of the Bank. Builder further agrees that possession of the
subject property as and when completed will not be handed over to the Borrower except on
the basis of certificate/letter from the Bank with regard to subject loan A/c being regular.

10. That till completion of the property, Builder shall hold the property in trust, under lien of the
bank and money that might be payable or become payable under the present shall be
secured and be recoverable from the said property at the instance of the bank to the
exclusion of all and sundry. It is specifically agreed that Borrower and Builder shall not
encumber or create any third party interest over the subject property after the execution of
this present.

1. That the Builder further acknowledges having issued ‘permission to mortgage’ signifying
subject property and project being free of any encumbrance, third party interest and its
further having no objection in case the subject property is being mortgaged in favour of the
Bank on completion by the Borrower.

11. That the Builder further acknowledged having extended charge over proportionate portion
of the Project Land beneath the subject property. Its goes without saying that the said
proportionate portion of the Project Land shall constitute part of the secured asset, being
security for repayment of the loan.

12. That the Builder further undertakes to procure ‘no objection certificate (NOC)’ with regard to
the subject property from the Project Financer and deposit the same with the Bank, if the
project happens to be a security with any Project Financer. That omission on part of Builder
in ensuring to procure NOC from the Project Financer and depositing the same with the Bank
shall render Builder liable in person.
13. That in case of cancellation of allotment of subject property for any reason whatsoever, be it
at the instance of Borrower, Builder or Bank, Builder shall be liable to pay in discharge of
liabilities under subject loan account to the maximum extent of disbursed loan amount with
interest at the applicable rate over period of time, from the date of disbursement till the
discharge of liability, within 15 days of the service of such termination notice. It is also
acknowledged by all the parties to the present that foreclosure value calculated by the Bank
during its usual and ordinary course of day to day business shall be binding on both the
Builder and the Borrower and further be taken as the final statement of computation of
liabilities under the subject loan account.

14. It is further specifically agreed by the Builder and the Borrower that in the event of failure on
the part of the Builder in honoring the payment as stated in clause 14 above, the Bank shall
have the right to take all such necessary steps to recover the such amounts including filing of
necessary suit against the Builder and/or Borrower for recovery of the said amount.

15. That the Builder and Borrower have acknowledged Bank’s rights to sell the subject property,
if liability under the subject loan account is not discharged despite service of termination
notice by either of the parties namely Borrower and/or Builder. Builder acknowledges bank’s
rights to effect such sale and transfer of subject property as its agent, notwithstanding
present being principal to principal agreement, or otherwise.

16. That the Borrower and the Builder have further acknowledged that the Bank shall have the
rights to appropriate sale proceeds of the subject property towards satisfaction of liabilities
under the subject loan A/c. That in case of Sale proceeds being in excess of the liabilities to
be discharged under the subject loan A/c, the proceeds in excess shall be refunded back to
the Builder to be dealt with in accordance with Builder-Buyer Agreement /Apartment Buyer
Agreement / Agreement to sell. In case there is a shortfall in discharge of liabilities under the
subject loan account, post appropriation of the sale proceeds of the subject property, then
the Borrower shall be personally liable to discharge the same in terms of the said Loan
Agreement and the surplus if any, will be dealt with by and between the builder and
borrower.

17. If any provision of the present is determined to be invalid or unenforceable for any reason,
no other provisions of the present shall become invalid or unenforceable, and in such case,
the applicable provision shall be interpreted in a manner, to the extent necessary, to make
such provision valid and enforceable.

18. The Borrower and Builder shall not be entitled to directly or indirectly assign, transfer or
novate its rights or obligations under this Agreement in part or in whole to any person.
19. In the event of any inconsistency between the terms of the Present and the other
Agreements pertaining to the subject property, the terms of the Present shall have over
ridding effect over the provisions of other agreements and shall be binding on all the
parties.

20. Unless the total outstanding dues of the Bank falls within the pecuniary jurisdiction of the
Debts Recovery Tribunal established under the Recovery of Debts and Bankruptcy Act, 1993,
all disputes, differences and/or claim arising out of or touching upon this Agreement
whether during its subsistence or thereafter shall be settled by arbitration in accordance
with the provisions of the Arbitration and Conciliation Act, 1996 or any statutory
amendments thereof and shall be referred to the sole Arbitrator as appointed by the Bank
and in the event of death, unwillingness, refusal, neglect, inability or incapability of a person
so appointed to act as an arbitrator, the Bank may appoint a new arbitrator to be a sole
arbitrator. The arbitrator shall not be required to give any reasons for the award and the
award passed by such an Arbitrator shall be final and binding on all the parties concerned.
The seat of arbitration shall be selected at [DELHI / MUMBAI / BENGALURU / KOLKATA /
CHENNAI / KOCHI], as per the sole discretion of the Bank to conduct the Arbitration
Proceedings. The arbitral procedure shall be conducted in English.

21. This Agreement shall be governed by and construed in accordance with laws of India and
Subject to clause 21, Parties hereby agree and confirm that, any suit, action or legal
proceedings arising out of or in connection with any disputes, differences and/or claim
arising out of or touching upon this Agreement shall be referred to the courts of competent
jurisdiction, as may be applicable.

Signed and Delivered by the within-named Borrower

Signed and Delivered by the within-named Builder

By the hand of

Signed and delivered by the within-named Axis Bank Limited by the hand
of Mr./Ms. Its