Terms & Policies
1)The first party is engaged in the business of selling and buying plots/ lands and has Projects in & around Pune, Navi Mumbai, Thane locations.
2)The first party suggested the said property to the second party because in this area the government is developing infrastructural projects due to which this area will be developing soon and the investment done here will reap good returns after some period.
3)The second party has approached the first party and shown interest in the projects of the first party where the first party has suggested the said property for investment purposes.
4)The second party found the Project beneficial and invested the -------------------rs. (Amount) for the period of the 5 years i.e. for the sixty months only.
5)The first party is agreed to pay interest on the invested amount to the second party for the period of 5years from the date of execution of this agreement dated 12/05/2021 to 12/05/2026.
6)That the returns are assured are as mentioned in the chart which will be paid through the payment at that time.
7)That the first party has issued the postdated cheque (PDC) for security purposes on the request of the second party which for the said period can be redeemed after the lock-in period.
8)That if second party wants withdrawal of this agreement prior to the said period then it can be done by issuing the 3month’s notice in writing to the first party whose registered address is: ------------------------------------
9)That after the withdrawal or termination of this agreement prior to the said period then the said transaction is not applied on the first party.
10)That for the pre-termination of this agreement the second party is not entitled for the said interest on the invested amount. It is mandatory that second party has to submit the PDC cheque which is given for the security purpose before applying for pre-termination of the said agreement, where new terms will be formulated for the termination process as agreed by the both the parties
11)That on the event of termination of the agreement the second party is entitled to get invested amount but interest will be calculated on the period to which investment is kept invested and agreed by the both the parties.
12)That the second party may choose the following chart for the reference purpose of the investment and the lock-in period.
13) That it is agreed by the second party there will not be demand of any excess amount apart from the said interest on the invested amount.
14) That this agreement is valid for the said period and abiding both the parties. If any of the parties to this agreement fails to fulfil the terms, then this agreement will be terminated.
15) The Parties agree that any dispute or claim in law or equity arising between them out of this Agreement or any resulting transaction, which is not settled through mediation, shall be decided by neutral, binding arbitration. The arbitrator will be appointed by the consent of both the parties.
16) Force majeure, That the Performance by either party under this agreement is excused during the period such performance is prevented or delayed by government restrictions (whether with or without valid jurisdiction), war or warlike activity, insurrection or civil disorder, or any other causes similar or dissimilar to the foregoing that are beyond the control of either party and are not foreseeable at the time the agreement is executed.
This Agreement together with any attached addendums or disclosures shall supersede any and all other prior understandings and agreements, either oral or in writing, between the parties with respect to the subject matter hereof and shall constitute the sole and only agreements between the parties with respect to the said Property. All prior negotiations and agreements between the parties with respect to the Property hereof are merged into this Agreement. Each party to this Agreement acknowledges that no representations, inducements, promises, or agreements, orally or otherwise, have been made by any party or by anyone acting on behalf of any party, which are not embodied in this Agreement and that any agreement, statement or promise that is not contained in this Agreement shall not be valid or binding or of any force or effect.
Nominees
That second party if any case not seem fits to execute this agreement in any case then the heirs,legal representative or authorized assignees of the second party can execute this agreement and so shall entitled to enjoy the benefits,where heirs, legal representative or authorized assignees have submitted the valid documents which proves their legal rights to execute this agreement at register office of first party.