MEMORANDUM OF UNDERSTANDING

This MEMORANDUM OF UNDERSTANDING is made

and entered into at Mumbai on this ___ day of ___________
2021 between ……………………………………………….,
hereinafter referred to as the said “LANDLORDS” (which expression
shall unless it be repugnant to the context or meaning thereof, be
deemed to mean and include its successors, assigns, executors etc.)
of the FIRST PART;

AND

M/S. ……………………………………….. a Company registered under

the Companies Act of 1956, through its
Directors, ……………………………………, hereinafter referred to as
the said “DEVELOPERS” for the sake of brevity (which expression
shall unless it be repugnant to its meaning or context thereof shall
mean and include their Directors, legal representatives, assigns,
executors, etc.) of the SECOND PART;

The Landlords are entitled to and are possessed of land and

structure situated at ……………………………………….,
admeasuring …………………… Sq.mts or thereabouts and
registered in the City of Mumbai together.

AND WHEREAS the Landlords have approached the Developers

offering to Develop the property being Plot of the land together
with structure standing thereon and known as
“……………………….” situated and lying and being at
………………………….., admeasuring ………………. Sq.mts or
thereabouts and registered in the City of Mumbai, (hereinafter
referred to as the said property) in favour of the Developers.

AND WHEREAS the consideration payable to the Landlords shall be

in the form of duly constructed area :
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1. …………… flats of ……………..00 Sq. Ft. carpet area each

shall be allotted to Landlords in the proposed new building
towards issuing Development Rights in favour of the Developers
AND WHEREAS the Developers shall pay to the Landlord of the plot
towards temporary alternate accommodation and agrees to:

1. Corpus: An amount of Rs……………………. (shall be paid to

the Landlords towards Corpus Fund for future maintenance
purpose at the time of possession of the new flats.

2. Rent: An amount of Rs……………………………../- (shall be

paid to the Landlords towards monthly rent for the temporary
alternate accommodation.

NOW THIS M.O.U. WITNESSETH AND IT IS HEREBY MUTUALLY

AGREED BY AND BETWEEN THE PARTIES HERETO as follows:—

1. The Developers have agreed to enter into development agreement with

the Landlords and develop the said premises as aforesaid free from all
encumbrances and reasonable doubts of whatsoever nature and with
the free, clear and marketable title on the terms and conditions to be
specified in the proposed Development Agreement.

2. The Landlords declares and confirms as under:—

(a) The Landlords are otherwise well and sufficiently entitled to the said
property described in the Schedule hereunder written. Their title to the
said property is free and marketable subject to rights of existing
occupants as stated above.

(b) No other person except the Landlords has any right, claim or demand
in respect of the said property or any part thereof;

(c) The Landlords has not created any sale, gift, mortgage, charge, lien,
lease or any other adverse right or any other encumbrance whatsoever
or howsoever on the said property and the said property is not subject
to any claim or demand, encumbrance, attachment or any process
issued by any Court or Authority and the Landlords hereby declares
that they shall hereafter not create any third party rights of whatsoever
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nature in respect of the said property including any change in the

existing tenancies or any of them.

(d) The Landlords has not entered into any agreement or arrangement,
oral or written with regard to the sale of the said property.

(e) There are no proceedings instituted by or against the Landlords in

respect of the said property and pending in any Court or before any
authority and the said property is not under any lispendens;

(f) No Notice from any Government, Municipal Corporation or any other

public Body or authority or any notice under any law including the Land
Acquisition Act, the Land Requisition Act, the Town Planning Act, the
Municipal Corporation Act, and Urban Land Ceiling Act, or any other
statute has been received or served upon the Landlords in respect of
the said property or any part thereof which restricts or may restrict the
development of the said property;

(g) The said property is not under any reservation and there are no
restrictions on development thereof. No right of way passing through
the said property is granted to any third party and no one has any
easement right either by way of prescription or otherwise over the said
property save and except as stated herein.

(h) That there is no outstanding notice or other order or intimation issued

by the Government or MCGM or any other public body in respect of
any acquisition or requisition of the said Property to be developed or
any part thereof.

(i) No notice from any Government, Municipal Corporation or any other

public body or authority or any notice under any law including the Land
Acquisition Act, the land regulation, the Town Planning Act, the
Municipal Corporation Act, the Urban Land Ceiling Act or any other
statute has been received or served upon the Landlords in respect of
the said property or any part thereof which restricts or may restrict the
execution of this MOU or any of the requisite documents contemplated
to be executed pursuant to the execution of this Memorandum of
Understanding.

(j) There is no injunction or any other order from any Court, Collector,
Revenue Authority, Municipal Corporation for any taxation or other
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dues disentitling or restraining the Landlords from dealing with the said
property or entering into this MOU or any of the requisite documents
contemplated to be executed pursuant to the execution of this
Memorandum of Understanding.

(k) The said property is free from any attachment from income tax and/or
wealth tax and/or any other liabilities and no tax liability is pending
against the said property. In case there is any such Landlords agree to
clear the same.

(l) All normal rates, assessments, taxes payable by the Society in respect
of the said property have been paid to the appropriate authorities.

(m) The requisite N.O.C. from the Legal Heirs of the deceased tenants /
occupants of the premises shall be provided to the Developers, to
avoid any tenancy discrepancy, which may arise in future.

3. On or after the execution of this Memorandum of Understanding, the

Landlords agrees and undertakes that they shall not sell, transfer and
assign and accept any earnest money from any party or person in
respect of the said property or create any encumbrance or any new
tenancy and / or occupancy for any reasons, whatsoever at any time
hereinafter and shall nor create any third party interest in any manner
whatsoever on the said property or any part thereof.

IN WITNESS WHEREOF the parties have put their hands day and year
first hereinabove written.

THE SCHEDULE OF THE PROPERTY ABOVE REFERRED TO:

………………………………………………………………………

SIGNED, SEALED AND DELIVERED

By the within named Party of the
First Part (LANDLORDS)

In the presence of
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1.

2.

SIGNED, SEALED AND DELIVERED

By the within named Party of the
Second Part
M/S. ………………………………………….
(DEVELOPERS)
Through its authorised Director
………………………………………………….