And the balance _____________________ /- (Rupees _____________________only) shall be

paid by the Transferee’s bank, i.e., _____________________, directly to the Transferor on or

before _____________________. The Transferor shall hand over the vacant and peaceful
possession of the said flat on receiving the full and final payment. The sale of the said flat shall
be deemed to have taken place, the title of the said flat shall be deemed to be transferred and
the possession of the same shall be given only after the receipt by the Transferor of the balance
amount of _____________________/- (Rupees _____________________only). It is hereby
agreed that the time for the payment shall be the essence of this Agreement.

The Transferor shall execute and hand over all original documents regarding the said flat to the
Transferees including the original share certificate no. ______, the original Agreement,
including all enclosures, dated _____________________, etc., at the time of the disbursal by
the said _____________________ of the final balance payment. The Transferor shall sign and
execute the Transfer forms and all other letters, documents and writings as required under the
Maharashtra Co-operative Societies Rules, 1961 and as per the bye-laws of the said Society for
the effectual transfer of the said Flat and the said Shares at the time of the receipt of the final
payment as mentioned hereinabove.

In the event of the Transferee failing to remit the said final balance amount as mentioned
hereinabove to the Transferor within 15 days of the execution of this Agreement, for any
reason whatsoever, then and in that case this Agreement shall be deemed to be null and void
and the Transferee shall have no right, title and interest in the said Flat. The Transferor shall
refund the amounts paid by the Transferee within a further period of 30 days to the Transferee,
after deducting a sum of Rs. 1,00,000/- (Rupees One Lakh Only) as liquidated damages .