Extension agreement Moazzam sb

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EXTENSION OF AGREEMENT OF SALE

This in continuation of agreement dated May 23, 2022 stamp No. PB-LHR-BA9FE0747A7F2B5D. between the owners of Durrani House
(Seller) and Mr. Moazzam Ahmad Khan (Buyer)
The buyer has requested the owners/sellers to extend the payment date to close the sale deed of Durrani House, for which the buyer has his
own reasons, which were discussed on phone at length between the parties.
After a couple of rounds of long discussion it is decided between the parties that the agreement on the wishes of buyer is extended for a
period of six months from the original date of payment 22 May 2023 to 22 November 2023.
To compensate for this delay and due to the deteriorating parity rate of dollar/rupee the buyer will pay on a monthly basis 1.5% on the
balance consideration Rs. 490,000,000/- (Rupees Four hundred and ninety million only) which comes to Rs. 7,350,000/- (Rupees Seven
million three hundred and fifty thousand only) per month as compensation only.
The compensation money will not be adjusted against the original balance amount. The
compensation money will not be taken as part of the original balance amount.

This agreement may be terminated at any stage by giving a well reasoned written notice by any party.

This agreement shall be subject to the all laws, rules and regulations applicable to the subject of this agreement.

That the buyer shall be entitled to recover all expenses and fair compensation for his efforts to mature the litigation regarding subject
property in case of termination of this agreement by any party of the agreement at any stage. Expenses and fair compensation shall be
calculated at the time of notice of termination by the any party. Agreement shall be remained intact till the payment of compensation.

The buyer also wishes to pay the agreed compensation every two months basis instead of paying every month. In this
regard the buyer has issued three postdated bank cheques drawn on Allied Bank Limited.
Details of the issued cheques is as under:
Cheque No.24 67321055 amount Rs. 14,700,000/- (Rupees Fourteen million seven hundred thousand only) Dated 22 July 2023. Cheque
No. amount Rs. Dated 22 September 2023.
Cheque No. -- amount Rs. Dated 22 November 2023.
If the buyer makes a closing payment (original amount) before the extended time the compensation money will be calculated on a pro-rated
basis.
This extension is final, however further extension will be allowed subject to the terms & conditions settled at that time by the parties.
If the buyer fails to close the sale deed till the end of the extended time the original earnest money paid by the buyer and the compensation
money will be forfeited and will not be returned to the buyer. The deal will be treated as cancelled as ab initio. Buyer agrees to condition.
All other terms and conditions between the parties will remain the same. Seller:

1. Sami Durrani 2. Muahmmad Waki Durrani 3. Shaji Durrani 4. Sani Durrani


35202-2252809-8 42000-0492443-3 270-85-045818 35202-2667401-9

Buyer:
Mr. Moazzam Ahmad Khan
CNIC: 35202-2778440-5
Witnesses:
1. Ch.Kashif Mahmood 2. Sarim Durrani
CNIC:35501-0233085-7 CNIC:

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