APPLICATION FOR PROVISIONAL ALLOTMENT OF OFFICE SPACE IN WAVE BUSINESS TOWER-I, SITUATED AT WAVE CITY CENTER SECTOR-25A & 32, NOIDA (UP)

Transcription

1

2 APPLICATION FOR PROVISIONAL ALLOTMENT OF OFFICE SPACE IN WAVE BUSINESS TOWER-I, SITUATED AT WAVE CITY CENTER SECTOR-25A & 32, NOIDA (UP) Application No. Date M/S WAVE MEGACITY CENTRE PRIVATE LIMITED C-1, Sector-3, Noida, Uttar Pradesh Also at: Wave City Center Plot No. 01, Block - CC- 1, Sector-25A & 32, Noida, Uttar Pradesh Dear Sir, I/We, the Applicant(s), submit this application for provisional allotment of a Office Space (for short Office Space ) on sub-leasehold basis, in Wave Business Tower-I, situated in Block 3G in the project named as Wave City Center (for short the Said Project ) being developed by M/s Wave Megacity Centre Private Limited (hereinafter referred to as the Developer ) on the Plot of land admeasuring 6,18, square meters, bearing Commercial Plot No. CC-001, situated at Sector-25A & 32, Noida, District Gautam Budh Nagar, Uttar Pradesh, allotted to the Developer by Noida Authority vide Lease Deed dated , which is duly registered on , with the office of District Registrar, Noida, District Gautam Budh Nagar (hereinafter referred to as the said Plot ). I/We hereby confirm to have examined the documents to my/our satisfaction confirming the Developer's Rights, Title, Interest, Entitlements, Sanctions and Tentative Sales Plan of the Said Project. As per the Tentative Sales Plan, I/We apply for an Office Space in Wave Business Tower-I, Block 3G bearingunit No., Floor No., Block No., having Covered Area of square feet ( square meter) and Super Area (Chargeable Area) of square feet ( square basic sale price ( BSP ) of /- per square feet (Rs. /- per square meter) (plus various other charges as detailed in this application or in any subsequent document(s), which may be executed between the Applicant(s) and the Developer ), under the Construction Linked Installment Plan ( ) / Down Payment Plan ( )/ Flexi Plan ( ). (Mark () on the opted Plan). Unless otherwise stated or unless the context otherwise requires, in this Application and attachments: (a) (b) Singular shall include the plural and vice versa, and the masculine, feminine or neuter gender shall include all genders; A reference to any law shall include any amendments, modifications or replacements thereof; and ( c) Any agreement, consent, approval, authorization, notice, communication or information required under or pursuant to this Application from Developer shall be valid and effectual only if it is in writing and under the hands of duly authorized person and not otherwise.

3 I/We remit herewith a sum of Rs. /- (Rupees in words ) as booking amount which is to be treated as Application Money as per the details mentioned hereunder: NOTE.: Payments to be made only through account payees cheque(s)/demand Draft(s)/Banker's Cheque drawn in favour of Wave Megacity Centre Pvt. Ltd., payable at New Delhi/Noida. C heq ue N o. D ated A m ou nt (IN R ) D raw n O n I/We understand that: Super Area means the total covered area inclusive of the area under Periphery Walls, Area under Columns and Common Walls, Balconies, Wardrobe and further includes common area viz. Paragolas, Porches, Canopies, Projections enclosed from three sides, Stair Mumties, Staircase, Passages & Corridors, Lobbies, Atrium, Central Courtyard (internal), fire refuge area, plus proportionate share of areas utilized for common services viz. area under Staircases, Circulation Area, Lifts Machine Room, shafts, underground and overhead water tanks, Pump Rooms, Generator Room, Sub-Station Room, Fire Control Room, Security Room including any construction for architectural feature in the building/structure, however, not a usable area. I/We also understand that in such big projects it is common and acceptable that areas applied for remain tentative and are subject to variation till final demarcation. APPLICANT(S) further state as under: (I) (II) (III) I/We agree to make further payments / remaining installments of the BSP and other charges as per the Payment Plan opted by me/us and such other expenses and other additional charges (including but not limited to all kinds of taxes, present or future) as may be intimated/demanded by the Developer and/or Noida Authority and/or any other concerned Competent Authority within the time period as stipulated in the Demand Letter. I/We agree and understand that since the Said Project is at conceptual stage and is a part of a big Commercial Project and as such this Application Form does not constitute any offer of definitive allotment. I/We do not become entitled to the final Allotment of Office Space notwithstanding the fact that the Developer may have issued receipts in acknowledgement of the money tendered by me/us to the Developer along with this Application Form. However, once the application is accepted by the Developer, the cancellation and withdrawal of the same by me/us shall attract forfeiture of earnest money as mentioned in clause 4.2 of the Terms and Conditions of provisional allotment. I/We agree that the provisional Allotment of the Office Space is at the sole discretion of the Developer and upon allotment, Office Space Allottee(s) Arrangement shall be executed between the Applicant(s) and the Developer on acceptance of this Application Form, however, in case the Office Space is not Allotted / Sub-Leased to me/us for any reason whatsoever, then I/We shall not be entitled to raise any objections or claims of any damages or 2

4 challenge the same and the amount deposited herein shall stand refunded to me/us without any interest within 30 (thirty) days from the date of receiving notice from the Developer regarding the rejection of this Application Form. (IV) (V) (VI) (VII) I/We agree to execute all the documents in the format provided by the Developer as and when necessary and shall strictly adhere to all the Terms and Conditions stipulated by the Developer from time to time. I/We have carefully read and understood the Terms and Conditions applicable on me/us and attached with this Application Form, which shall ipso-facto be applicable to my/our legal heirs, nominee(s), assignees and successors and hereby agree and undertake to abide by them. I/We further agree to sign and execute as and when required by the Developer, the Office Space Allottee(s) Arrangement, within 30 (thirty) days from the date of intimation of making the provisional allotment is sent by the Developer, failing which, the offer of provisional allotment shall expire and the Developer after deducting the amount of Earnest Money shall refund the balance amount if any, paid by the Applicant(s). I/We hereby state that I am submitting this Application Form with full knowledge of the Said Project namely Wave City Center and after having read, understood and considered the Terms & Conditions, the Government Rules & Regulations vis-à-vis the Said Project, which shall ipso-facto apply on me/us and specifically record my/our acceptance thereto. I/We undertake to inform the Developer of any change in my/our address or in any other particular/information given above, failing which the particulars shall be deemed to be correct and the letters sent at the recorded address by the Developer shall be deemed to have been received by me/us. I have read and signed all the pages of this Application Form and Schedule-I & Schedule-II after fully understanding the contents thereof. 3

5 PARTICULARS OF THE APPLICANT(S) 1. FIRST/SOLE APPLICANT(S) Mr./ Mrs./ Ms./ M/S Son / Wife / Daughter of Mr. Date of Birth Profession Designation Nationality Marital Status No. of children Residential Status: Resident Non-Resident Foreign National of Indian Origin Residential Address Office Address Tel.Res Off Mobile Fax No. ID Income Tax Permanent Account No./ Ward No. Passport No. 2. SECOND APPLICANT(S) Mr./ Mrs./ Ms./ M/S Son / Wife / Daughter of Mr. Date of Birth Profession Designation Nationality Marital Status No. of children Residential Status: Resident Non-Resident Foreign National of Indian Origin Residential Address Office Address Tel.Res. Off Mobile Fax No. ID Income Tax Permanent Account No./ Ward No. Passport No. 4

6 3. THIRD APPLICANT(S) Mr./ Mrs./Ms./ M/S Son / Wife / Daughter of Mr. Date of Birth Profession Designation Nationality Marital Status No. of children Residential Status: Resident Non-Resident Foreign National of Indian Origin Residential Address Office Address Tel.Res. Off. Mobile Fax No. ID Income Tax Permanent Account No./ Ward No. Passport No. DETAILS OF NOMINEE Mr / Ms. Son of / wife of / daughter of Permanent Address Tel. Mobile Relation with the nominee City State Pin Code Country (i) Gender: M/F, (ii) Status Major / Minor (iii) Age years (iv) Nationality (v) Marital Status - if married, no of children (vi) Occupation Government Service Private Service Self Employed Professional Self Employed (Business / Industry) Others 5

7 PARTICULARS DETAILS AMOUNT (in Rs.) A. Basic Sale Rs. per Sq. Mtr. (BSP) (Rs. per Sq. Ft.) B. Car Parking Reservation No. of car parking reservations Charges Rs. C. Club Membership Fee C. IFMS Deposit D. Sinking Fund (Annually) E. Preferential Location Charges Rs. per Sq. Rs. per Sq. Rs. per Sq. Ft. F. One Time Lease Rent G. Other Charges if any, Levies, Taxes (as Rs. per Sq. Rs. Total Consideration Stamp Duty, Registration Fee, Service Tax and allied charges/taxes for execution and registration of Office Space Allottee(s) Arrangement and Tripartite Sub-Lease Deed will be additionally payable by the APPLICANT(s) before possession. Mode of Booking Direct If through Dealer; Name with Stamp : DECLARATION I/We, the Applicant(s), do hereby declare that my/our application for the provisional allotment of an Office Space on sub-leasehold right basis is irrevocable and that the above particulars/information/details given by me/us are true and correct and nothing has been concealed therefrom. In case of any false or misleading information provided by the Applicant(s) with intentions to cause unlawful loss to the Developer or unlawful gain to the Applicant(s), the DEVELOPER, without prejudice to its other rights, shall be entitled to forfeit the amount deposited by the Applicant(s). 6

8 FOR OFFICE USE (i) Application: Accepted / Rejected (ii) Provisional Registration of Office Space (a) Block No. Tentative Unit No. Floor No. (Strike out whichever is not applicable) (b) Area of unit Square Ft. Square Mtrs ( c) Basic Sale Rs. Sq. Mtr. Sq. Ft. In words (Rupees Per Sq. Ft.) (d) (e) (f) Preferential Location Charge (PLC) Rs. Per Sq.Ft. Club Membership Fee Car Parking Reservation Charges (g) IFMS Deposit Per Sq. Ft. (h) Sinking Fund (Annually) Per Sq. Ft. (i) (j) One Time Lease Rent Per Sq. Ft. Other Charges if any, (iii) Payment Plan: (iv) Type of Account: (v) Booking amount received vide Receipt No. dated Rs. (Rupees Only) (vi) (vii) (viii) Mode of Booking: Application received through: Special instruction / remarks: Indicate Type of Account of Applicant(s) (NRE/NRO A/c for Foreign Nationals) Application Processed by Date Place 7

9 BROAD TERMS AND CONDITIONS FOR PROVISIONAL ALLOTMENT OF OFFICE SPACE IN WAVE BUSINESS TOWER-I, SITUATED AT WAVE CITY CENTER SITUATED AT SECTOR-25A & 32, NOIDA (UP) The following are the broad Terms and Conditions which will be comprehensively set out in the Office Space Allottee(s) Arrangement. (A) (B) M/s Wave Megacity Centre Private Limited (for short the Developer ) is the original Allottee/Lessee and in possession of, and otherwise well and sufficiently entitled to the Plot of land admeasuring 6,18, square meters, situated at Commercial Plot No. CC-001, Sector-25A & 32, NOIDA, District GautamBudh Nagar (hereinafter referred to as the Said Plot ), allotted to the Developer by New Okhla Industrial Development Authority ( hereinafter referred to as Noida ) vide Lease Deed dated , duly registered on at the office of District Registrar, District GautamBudh Nagar, executed in favour of Developer for a period of 90 (ninety) years (for Short Principal Lease ), Developer is entitled to, on the Terms and Conditions contained therein, for the development of Commercial Complex for commercial activities such as Shopping Mall(s), Showrooms, Retail Outlets, Office Space, Studio Apartment, Serviced Residency, Hotels, Restaurants, Offices and such other commercial uses and to use permissible Floor Area Ratio (F.A.R.) for residential purposes also as may be authorized by Noida from time to time (for short the Said Project ). The Developer will carry out development as per norms specified in the Building Regulations and on such Directions of Noida. ( C) The Applicant(s) hereby confirms to have read and understood the Terms & Conditions of the said Principal Lease in respect of the said Plot allotted by Noida in favour of the Developer. The copy of the said Principal Lease is readily available at the site office of the Developer as well as its corporate office mentioned above. The copy of the Principal Lease shall be made available for perusal of the Applicant(s) at anytime during any working day. 1. PROVISIONAL ALLOTMENT 1.1 That in consideration of the payment made / to be made by the Applicant(s) to the Developer as per the Payment Plan and in consideration of the various obligations of the Applicant(s) as herein contained particularly those relating to consideration, proper conduct and payment of Maintenance Charges, the provisional allotment of Office Space to the Applicant(s) shall be subject to Terms and Conditions broadly detailed hereof. 1.2 The Right, Title and Interest in the Office Space shall be transferred and conveyed in favour of the Applicant(s), by way of a Tripartite Sub-Lease Deed, which shall be executed by Developer in favour of the Applicant(s), wherein the Noida shall be the party to the said Deed, subject to compliance of Terms and Conditions stipulated herein and on such Terms and Conditions as the Developer may decide from time to time and also as per the Laws applicable at the time being in force, including but not limited to the Rules and Regulations of Noida and any other Competent Authority and in accordance with the conditions of the Principal Lease entered into between the Developer and the Noida. 8

10 2. THE OFFICE SPACE 2.1 The Office Space means a commercial office space containing all the facilities / amenities that are traditionally accorded to commercial purposes including but not limited to water, power back-up, electricity etc., which are best suited for commercial activities. 2.2 The Parties agree that the Applicant(s) shall also be entitled to all easement rights and appurtenances attached to the Office Space including the services and facilities as may be provided upon payment of additional applicable charges for availing of such facilities and services. 2.3 That the Layout Plans of the Said Project as drawn by the Developer are tentative and are subject to change, if deemed necessary by the Developer or if so required by the Architects/Engineers/Professionals or if so required by the Noida and/or any other authorities / any regulatory authorities, the Developer may effect and make suitable alterations in the layout plans. Such alterations may include change in the area of the Office Space, the numbering plan of Office Space and/or the location of the Office Space. With regards to all such changes either at the instance of the regulatory authorities or otherwise, opinion of the architects/engineers/professionals appointed by the Developer shall be final and binding on the Applicant(s). However, the Applicant(s) shall be kept updated if any changes are carried out in the layout plan. 2.4 Further, if there is any increase/decrease in the Super Area of the Office Space upto 10%, then the Applicant(s) shall pay/adjust the revised price calculated at the BSP at which the Office Space has been booked for allotment, however, price for increase/decrease of the area beyond 10% will be at the market rate to be decided by the Developer. As a consequence of such decrease of the Office Space area, the Developer shall be liable to refund to the Applicant(s), without interest, only the extra price and other proportionate charges recovered. Likewise, in case of increase in the Super Area of the Office Space, the Developer shall be entitled to recover from the Applicant(s), the additional price and other proportionate charges without interest, as the case may be. 2.5 If as a result of any law that may be passed by any Legislation, Rule, Regulation, Order/Court Order or Notification that may be made and/or issued by NOIDA or any other Authority including the Municipal Authority, and as a result of which the Developer is unable to complete the Said Project, then the Developer may, if so advised, though not bound to do so, at its sole discretion challenge the validity, applicability and/or efficacy of such Legislation, Rule, Order or Notification by moving the appropriate courts, Tribunal(s) and/or Authority. In such a situation, the amount paid by the Applicant(s) shall continue to remain with the Developer and the Applicant(s) agrees not to move or to obtain specific performance of the terms of Application / Office Space Allottee(s) Arrangement, it being specifically agreed that allotment shall remain in abeyance till pending adjudication and further determination by the Court(s) /Tribunal(s)/Authority(ies). However the Applicant(s) may, if he so desires, become a party along with the Developer in such litigation to protect Applicant(s) rights. In the event of the Developer succeeding in its challenge to the impugned Legislation, Rule, Regulation or Order, as the case may be, it is hereby; agreed that Application/ Office Space Allottee(s) Arrangement shall stand revived and the Applicant(s)/ Developer shall be liable to fulfill all obligations as 9

11 provided herein. It is further agreed that in the event of the aforesaid challenge of the Developer to the impugned Legislation, Order, Rule or Regulation does not succeed and the said Legislation, Order, Rule or Regulation becomes final, absolute and binding, then the Developer will subject to the provisions of law/court order refund to the Applicant(s), the amounts paid by the Applicant(s) in respect of Office Space (after deducting interest on delayed payments, processing fee, and interest paid, due or payable and any amount of non-refundable nature) that have been received from the Applicant(s) by the Developer, shall be refunded to the Applicant(s) without any interest or compensation of whatsoever nature within such period and in such manner as may be decided by the Developer.The Applicant(s) hereby agrees that they will accept Developer's decision in this regard to be final and binding. Save as otherwise provided herein, the Applicant(s) shall not have any other right or claim of whatsoever nature against the Developer. 2.6 The Developer shall always have the first lien and charge on the Office Space in respect of any charges/ dues/ amounts outstanding payable by the Applicant(s) to the Developer on any date or time in future. 3. CONSIDERATION 3.1 The Applicant(s) shall pay to the Developer the Basic Sale Price (the BSP ) for the purchase of the said Office Space and Preferential Location Charges (wherever applicable) and other taxes, Service Tax & charges mentioned elsewhere in Office Space Allottee(s) Arrangement along with applicable interest etc. which shall be over and above the BSP and shall be payable by the Applicant(s) to the Developer immediately upon demand thereof. The BSP payable for the Office Space has been calculated on the basis of its Super Area. The term 'Super Area' shall mean the total covered area that is inclusive of the area under periphery walls, area under columns and common walls, balconies, Wardrobe and further includes common area viz. Paragolas, Porches, Canopies, Projections enclosed from three sides, Stair Mumties, Staircase, Passages & Corridors, Lobbies, Atrium, Central Courtyard (internal), Fire Refuge Area, plus proportionate share of areas utilized for common services viz. Area Under Staircases, Circulation Area, Lifts, Machine Room, Shafts, Underground and overhead Water Tanks, Pump Rooms, Generator Room, Sub- Station Room, Fire Control Room, Security Room including any construction for architectural feature in the building/structure, however, not a usable area. 3.2 The Applicant(s) hereby agrees to pay as Preferential Location Charges, whenever applicable, which shall be payable in the manner and within such time as stated in the schedule of payment. However, the Applicant(s) has specifically agreed that due to any change in the Layout Plan, the allotted Office Space ceases to be in a preferential location, the Developer shall be liable to refund only the amount of preferential location charges paid by the Applicant(s) and such refund shall be adjusted in the installment(s) due and payable by the Applicant(s). If due to any change in the Layout Plan, the Office Space becomes preferentially located, then the Applicant(s) shall be liable and agrees to pay as and when demanded by the Developer such Preferential Location Charges. 3.3 That the BSP is inclusive of the External/Infrastructural Development Charges. However, the charges on account of external electrification and/or charges for connecting the sub-station with the main-station, as demanded from the date on which it is made effective by Noida and/or any 10

12 other Authority and all statutory and non-statutory charges levied by the Noida or any other concerned Government Authority(ies) and any external/ infrastructural development carried out by the Developer for the Said Project on behalf of the Government Authority(ies) shall be over and above the BSP and shall be payable by the Applicant(s) on pro-rata basis for Super Area of the Office Space. In case any upward revision thereof by the Noida in future is done and demanded, the same shall also be recovered from the Applicant(s) on pro-rata basis on Super Area of Office Space from the date of application. If such charges are increased (including with retrospective effect) even after the Office Space Allottee(s) Arrangement /Tripartite Sub-lease Deed has been executed, then these charges shall be treated as unpaid consideration of the Office Space and the Developer shall have lien on the Office Space of the Applicant(s) for the recovery of such charges. 3.4 That in the event of any increase in External/ Infrastructural Development Charges and any fresh taxes, service tax, cess with regards to, but not limited to state/national highways, transport, irrigation facilities and power facilities, electrical facilities/requirements, electricity distribution network/system, metro cess, Telephone/internet cables, gas Pipelines etc. thereto being imposed by Government/Semi-Government Body / Statutory Authority/Noida along with interest hereafter including interest thereon and or in case the Developer carries out the internal/ infrastructural developments, all such charges imposed by the Government/ Semi-Government Body/ Statutory Authority/ Noida and cost incurred by Developer on such development works, as the case may be, shall be to the account of Applicant(s) on pro-rata basis, who unconditionally agrees and undertakes to pay the same to the Developer upon demand and/or directly to the concerned Government Authority, as applicable, whether levied with prospective or retrospective effect. Further, the Applicant(s) has been informed by the Developer that the Government usually revises its aforesaid charges from time to time, even after the execution of the appropriate document of transfer i.e. sub-lease and also raises the demand for the same upon the Developer. In such an eventuality the Applicant(s) unconditionally agrees and undertakes to reimburse/ pay the same along with interest thereon, if any, as and when demanded by the Developer. Further, it is expressly agreed and understood by the Parties hereto that in the event of any failure of Applicant(s) or subsequent transferees in making payment of such demand to the Developer, the same shall be treated as unpaid consideration against the said Office Space herein agreed and the Applicant(s) agrees that the Developer shall have unfettered right and entitlement to recover the said amount along with interest from the Applicant(s) or the subsequent transferees. 3.5 The BSP of the Office Space does not include the charges for connection of electricity, water, service/sewerage lines etc. and security deposit in connection therewith and the amount payable to Noida or any other Authority and/or Maintenance Agency, in respect of such connections shall be charged extra. 3.6 The Applicant(s) has/ have understood and agreed that the computation of the BSP of the Office Space does not include any recovery or payments towards Land used for services, running and operation of common amenities and facilities like convenience store or any other conveniences, community buildings/sites, Club, other recreational and sporting activities, as well as recovery of payment on account of Taxes, Levies and Maintenance Charges etc. by the Developer from the Applicant(s) in any manner. 3.7 The Applicant(s) also agrees and undertakes to pay the cost of complying with statutory requirements including but not limited to all kinds of Taxes, Service Tax etc. for providing and constructing Office Space as well as other services for the Said Project, as may be applicable 11

13 and levied from time to time in relation to the Office Space and/or Said Project and the same would be payable by the Applicant(s) on pro-rata basis in accordance with the Super Area of the Office Space. 3.8 Tax, Taxes or Taxation for the purpose of this document shall mean and include but are not limited to all forms of Taxation, Charges, Duties, Levies, Cess, Fees, Value Added Tax, Customs and Excise Duties, Service Tax, Capital Tax and other Legal Transaction Taxes, Stamp Duty, Registration Charges, Real Estate Taxes, House Tax and other Municipal Taxes and Duties, Environmental Taxes and Duties and any other type of taxes or duties of a like nature in any relevant jurisdiction, together with any interest, penalties, surcharges or fines relating thereto, due, payable, levied, imposed upon or claimed to be owed in any relevant jurisdiction. 3.9 In addition to the above, if Taxes, levies are payable to or demanded by, Noida, any other Competent Authority, Municipal Corporation, or any other local authority or Governmental Agency or Public Sector Undertaking in respect of the said Office Space or the Said Project, the same along with applicable interest shall exclusively be borne by the Applicant(s) in proportion to the Super Area of the Office Space and shall be payable immediately as and when demanded by the Developer failing which this will entitle the Developer to have lien/charge on the Office Space and that the Developer shall have unfettered rights to institute appropriate proceedings and recover the outstanding sums with cost and interest. 4. PAYMENT 4.1 The BSP, taxes/service tax and other charges along with applicable interest thereon etc. as agreed hereto and due and payable in respect of the Office Space is to be paid by the Applicant(s) to the Developer as mentioned herein and as per the payment plan opted by the Applicant(s), and as set out in accordance with the Payment Plan. 4.2 The Applicant(s) agrees that an amount equivalent to 20% of the BSP of the said Office Space shall be construed as Earnest Money. The Applicant(s) further agrees and undertakes to pay the BSP, in the manner and in accordance with the time schedule provided in the Payment Plan, and failure to pay amount as per the schedule of Payment Plan, within the specified dates shall make the Applicant(s) liable to pay simple 18% per annum till the date of actual payment of due and outstanding amount. 4.3 The Applicant(s) agrees and acknowledges that the Developer is under no obligation to send demands/reminders for payments of the Installment/balance consideration. It is clarified that it is the responsibility of the Applicant(s) to pay the Installment/balance consideration as and when the same shall fall due in accordance with the respective Payment Plan applicable to the Applicant(s). However, in case the Construction Linked Payment Plan is opted by the Applicant(s), the status of construction shall be intimated to the Applicant(s) in the Demand/Call raised by the Developer from time to time. 4.4 It is understood and agreed by the Applicant(s) that making payment of BSP and other charges/payments as aforesaid in accordance with the Payment Plan and payment of Maintenance Charges on due dates as per the call notices or otherwise together with applicable simple interest at the rate of 18% per annum if any, is the essence of agreement. In the event, the 12

14 Applicant(s) fails to make payment on due dates as aforesaid and is in default for a period exceeding 1(one) month, the Developer shall have unfettered right to cancel the provisional allotment and forfeit the Earnest Money and also recover arrears on account of accrued interest, and any other expense or tax if so incurred and accordingly refund the balance amount if any, to the Applicant(s). The Developer shall have lien on the Office Space for recovery of its dues, without prejudice to any legal remedy/right available to the Developer. In case the sum paid by the Applicant(s) falls short of Developer's claim, as aforesaid, then the Developer shall have the right to recover the balance amount from the Applicant(s) upon or after the cancellation. The Applicant(s) understands the implications of the cancellation and agrees with the Developer that the Applicant(s) shall have no claim, whatsoever, on the said Office Space which shall stand resumed by the Developer and that the Developer shall have the right to deal with the Office Space in any manner thereafter as it deems appropriate. 4.5 All payments due from the Applicant(s) shall be made only through Cheque / Demand Draft/Pay Order payable at Delhi/New Delhi/ Noida, in the name of M/s Wave Megacity Centre Private Limited. The reverse of each instrument shall record the number of the said Office Space and name of the First Applicant(s). In case Office Space is allotted to joint Applicant(s), then it is agreed that the Developer shall issue the payment receipt only in the name of the First Applicant(s), irrespective of whether the payment was received from any other Applicant(s). 4.6 For all payments, the date of clearance of the demand draft/ pay order/cheque shall be taken as the date of payment. The dishonor of the demand draft/pay order/cheque for any reason, shall entitle the Developer to charge from the Applicant(s) an additional amount of Rs. 1000/- (Rupees One Thousand Only) towards loss of creditability, administrative & handling charges. 4.7 The Applicant(s) shall be entitled to a receipt, to be issued by the Developer against every demand draft/ pay order/cheque issued by the Applicant(s), subject to the clearance of the said demand draft/ pay order/cheque. 5. POSSESSION OF THE OFFICE SPACE 5.1 Subject to Clause 5.2 and further subject to all the Applicant(s) of the Office Space in the Said Project making timely payment, the Developer shall endeavor to complete the development of Said Project in general and the Office Space in particular as far as possible within 48 (forty eight)months along with an extended period of 6 (six) months from the date of execution of Office Space Allottee(s) Arrangement and / or sanction/ approval of building plan etc. whichever is later. 5.2 For the purposes of the present transaction followed by Office Space Allottee(s) Arrangement, Force Majeure shall mean any event or circumstance or a combination of events and circumstances, whether occurred or likely to occur, which satisfies all or any of the following conditions: 13

15 (a) (b) (c) Materially and adversely affecting the Said Project and/or the performance of an obligation of the Developer even after the Developer has taken due care, diligence and precautions; And are beyond the control of the Developer ; And includes (without limitation), subject to satisfaction of the above conditions, the following events and/or circumstances: i. War (whether declared or undeclared), invasion, armed conflict or act of foreign enemy; ii. iii. Revolution, riot, insurrection or other civil commotion, act of terrorism or sabotage; Strikes, industrial disputes and/or lockouts and/or interrupting supplies and services to the Said Project ; iv. Non-payment of sums due from the Applicant(s) including payment of installment/applicable interest and levies as mentioned herein above on time by any of the Applicant(s) of the Office Space. v. Change in Governmental Policy, Laws (including, any Statute, Ordinance, Rule, Regulation, Judgment, Notification, Order, Decree, Permission, License or Approval), including but not limited to, expropriation or compulsory acquisition by any Government/Noida of any part of the Said Project rights therein; vi. vii. viii. Acts of God or events beyond the reasonable control of the Developer which could not reasonably have been expected, including any effect of the natural elements, including lightning, fire, earthquake, unprecedented rains, landslide, subsidence, flood, storm, cyclone, epidemics or plagues or any other similar effect; Any dispute between the Developer and the Applicant(s) and/or between the Developer and the person, persons association of persons obstructing and creating hurdle in the progress of the development work of the Said Project and/or the Office Space therein and/or any proceeding initiated in this regard; Any judgment or order of any Court of competent jurisdiction or Government of India or the State Government or any Local Body or Statutory Authority, made against the Developer in any proceedings; ix. Any other reason which can be construed to be beyond the control of the normal human being; x. Non-payment of the due sums or late payments by the Applicant(s). 5.3 Without prejudice to the above, it is hereby agreed that possession of Office Space shall be delivered by the Developer to the Applicant(s) only upon registration of the Tripartite Sub- Lease Deed and subject to clearance of all dues and demands payable by the Applicant(s) to the Developer up to the date of such possession as specified herein. 14

16 5.4 The Applicant(s) shall take possession of the Office Space within 30 (thirty) days from the date of issue of offer to take possession, failing which the Applicant(s) undertakes and agrees to pay the holding charges as decided by the Developer from time to time besides the applicable Maintenance Charges, for the entire period after expiry of 30 (thirty) days during which the Applicant(s) does not take delivery of physical possession of the Office Spaces. The holding charges shall be decided by the Developer and the same may be revised or modified from time to time, by the Developer in view of the prevailing circumstances. The purpose for imposition of this charge is to ensure and secure the habitation in the Office Space at the earliest which is the sole object of the Noida for granting the lease for development of the Said Project. It is hereby clarified that these holding charges shall be independent of all dues and charges specified hereunder. Where Applicant(s) omits, fails, refuses and/or neglects to take possession of the Office Space from the Developer for any reasons whatsoever, the Office Space shall be held by the Developer at the risk and cost of the Applicant(s) and the Developer shall in its sole discretion, reserve the right to cancel the provisional allotment in such circumstances. The Applicant(s) further undertake to pay penalty charges and or any other charges which may be imposed by Noida on account of delay in taking over the possession and/or execution of the sublease deed. 5.5 Subject to clause 5.1 and 5.2 above and further the Applicant having complied with its obligations under this Application as well as the Office Space Allottee(s) Arrangement, including but not limited to timely payment of the entire consideration and payment of other charges as per the payment plan opted by the Applicant(s), in the event of willful delay in construction of the Office Space for reason attributable solely to the Developer, delay charges would be payable to the Applicant(s) at the rate of Rs (Rupees Seven and Fifty Paisa) per square feet per month. It is hereby clarified that the aforesaid delay charges shall be payable, subject to demand being raised by the Applicant(s) for the same (and will be calculated from the date of the said demand), till the date when possession of the Office Space is offered to the Applicant(s). Further all payments towards the delay charges, as due from the Developer, would be adjusted from the payment due to the Developer from the Applicant(s) at the time of the final settlement of sale consideration of the Office Space. Provided specifically that, the Developer shall be entitled, without the payment of any delay charges, not to offer the possession of the Office Space, to the Applicant(s), till all amount due and payable by the Applicant(s), as of such date, including all default, payment of interest etc., have been paid by the Applicant(s). 5.6 Subject to Clause 5.4 above, in the event of the Applicant(s) failing to take possession for any reasons whatsoever (including but not limited to any willful failure or refusal to take possession), the Applicant(s) shall, be liable to pay the Maintenance Charges or any other Taxes, leviable or applicable in relation to the Office Space to the Maintenance Agency appointed by the Developer or to the Developer / Statutory body as the case may be. 5.7 The Applicant(s) agrees and undertakes that, after taking possession of the Office Space, shall abide by Law, Rules, Regulations and By laws and further he shall have no objection to the Developer undertaking development and construction work over other adjoining lands of the building in which Office Space situates and/or in the Said Project. 15

17 5.8 The Applicant(s) agrees and undertakes that the Developer, shall at all times have a lien on the Office Space towards all outstanding dues viz. installments of consideration and dues of Maintenance Charges, along with interest/outstanding installments with interest and penal interest for delays and any other amounts due from the Applicant(s) on any account and shall have all the rights available to the lien-holder on the Office Space. 6. OWNERSHIP AND TRANSFER 6.1 After the Applicant(s) having paid the entire consideration and other charges and dues to the Developer as per the Payment Plan, a Tripartite Sub-Lease Deed shall be executed in favour of the Applicant(s) for transfer of the Office Space as per applicable laws, including inter alia the Rules, Regulations and by-laws of the Noida /Government, and shall be executed in the form as prescribed or approved by the Noida / Developer. 6.2 That all costs, charges and legal expenses towards execution of Office Space Allottee(s) Arrangement/ Tripartite Sub-Lease Deed i.e. the Stamp Duty, Registration Charges, Statutory Transfer Charges including any Taxes, miscellaneous or other additional or related charges, if any, payable under law or demanded by any Government Authority/official shall be paid and borne solely by the Applicant(s). 6.3 Save and with the sole exception of the Office Space and the Super Area thereof allotted to the Applicant(s), the Applicant(s) shall have no proprietary title or interest over any other area in the building in which the Office Space situates and/or in the Said Project. 6.4 The Applicant(s) agrees and undertakes to co-operate with the Developer at all times, and shall, from time to time, sign and execute all applications, papers, documents, Maintenance Agreement and all other relevant papers, do all acts, deeds and things as the Developer may require for the purposes of giving effect to the terms of the Principal Lease of the Said Project as well as the sub- lease of the Office Space, and for safeguarding the interests of the Developer and other Office Space Owners, in relation to the Said Project. 6.5 At any time prior to payment of entire consideration and other charges mentioned elsewhere herein along with interest thereon allied and incidental thereto as agreed to be paid and prior to the execution of the Tripartite Sub-Lease Deed and subject to clearing all dues and outstanding payable to the Developer in terms hereof, till that date, the Applicant(s) may transfer the entire Office Space and not in parts, on payment of the administrative charges at such rate as may be decided by the Developer from time to time, and stamp duty, taxes if any, demanded by the concerned authority. Notwithstanding above, the first transfer shall not attract the administrative charges, however, all subsequent transfer after first transfer shall attract administrative charges at such rate as may be decided by the Developer from time to time. Any change in the name (including additions/deletion) registered as Applicant(s) with the Developer will be deemed as transfer for this purpose. The administrative charges for the transfer of Office Space amongst family members (husband/wife and own children / mother / father and real brother/sister) will be 25% of the normal administrative charges for every transfer. The Claims if any, between transferor and transferee as a result of subsequent reduction/increase in the area or its location will be settled amongst themselves only and the Developer will not be a party to it. It will be the responsibility of the Transferor to obtain and 16

18 comply with the provisions of any applicable law of the Government of India / Government of Uttar Pradesh / Noida / Municipal Corporation which may charge unearned increase on the rate of the land at the time of transfer and the liability to pay this unearned increase including taxes in case of such transfer shall be to the account of Applicant(s). Further each and every transfer shall have to be endorsed by the Developer. In case, it is discovered otherwise, the Developer shall hold the original Applicant(s) whose name stands in the records of the Developer before such endorsement, liable in all eventualities of default and obligations. 6.6 The Applicant(s)/Transferor/Transferee undertake to pay the applicable administrative charges from time to time as communicated by the Developer for such transfer, substitution and assignment (including towards the execution of any Agreement, documents, or contractual agreement as may be required under any applicable law), together with arrears of installment(s) along with interest thereon due and also any applicable Stamp Duty, Taxes, Levies payable for such transfer, substitution /assignment, shall be to the sole responsibility of and shall be payable by the Applicant(s)/Transferor/Transferee prior to such substitution/assignment. 7. MAINTENANCE OF THE OFFICE SPACE, MAINTENANCE CHARGES AND OTHER PAYMENTS 7.1 The Developer, shall either directly or through its appointed Maintenance Agency as the case may be, provide the requisite common area maintenance and other services within the Wave Business Tower-I/ Said Project which shall broadly include garbage disposal & upkeep of common areas, water supply, sewerage system and drainage system, lighting facilities for the common area and internal roads, maintenance and upkeep of internal roads, pathways, boundary walls /fencing, horticulture, water bodies, provision of general watch and ward within the Wave Business Tower-I/ Said Project (collectively referred to as Maintenance Services ). The Applicant(s) agrees to bear all the proportionate costs and charges for the upkeep of the Wave Business Tower-I/ Said Project including the charges for Maintenance Services that may be imposed by the Developer from time to time. Further, it is clarified that the club membership/usage of club facilities, Interest Free Maintenance Security Deposit (IFMSD), Sinking Fund etc. or such like additional facilities, are not included in the BSP and shall be payable by the Applicant(s) separately, as may be applicable. 7.2 It is hereby agreed that the Developer shall be entitled to undertake the provision of the Maintenance Services, either through itself of through any other appropriate agency appointed by it (referred to as the Maintenance Agency ). The Applicant(s) hereby agrees to sign and execute Maintenance Agreement with the Developer and/or Maintenance Agency prior to taking over the possession of the Office Space and further undertakes to make timely payment towards all charges, and dues in relation to provision of the Maintenance Services (the Maintenance Charges ) as may be determined/ revised by the Developer /Maintenance Agency from time to time. It is hereby agreed that the Maintenance Charges shall be due and st payable from the 1 (first) day of the subsequent calendar month in which the possession of the Office Space is offered by the Developer to the Applicant(s). 7.3 The Maintenance Agreement may inter alia specify the Maintenance Services to be provided in relation to the Office Space in Wave Business Tower-I and the Said Project and the applicable Maintenance Charges payable by the Applicant(s) in respect of the same. 17

19 7.4 Further, the Applicant(s) shall pay the monthly Maintenance Charges to the Developer /Maintenance Agency as per bills raised by the Maintenance Agency. The Applicant(s) shall pay prior to taking over the possession of the Office Space Interest-Free Maintenance Security Deposit (IFMSD) equivalent to 6 (Six) months Maintenance Charges to the Developer and/or to the Maintenance Agency appointed by the Developer. The Applicant(s) agrees and undertakes that in case of non-payment of Maintenance Charges upon demand, the Applicant(s) shall be liable to pay the amount due along with simple 18% per annum, till the date of actual payment apart from disconnection of maintenance services and other utilities such as electricity for the period of non-payment of Maintenance Charges. The Applicant(s) understands and agrees that unpaid amount towards Maintenance Charges and interest for delayed period constitute lien on the said Office Space in favour of the Developer / Maintenance Agency. The Applicant(s) understands that the Maintenance Charges may be modified by the Maintenance Agency keeping in view the prevailing conditions and price index at that time. The Applicant(s) shall always ensure to update and maintain the security deposit equivalent to the prevailing 6 (Six) months Maintenance Charges, after every increase. 7.5 The Parties agree and acknowledge that in the event of transfer of the Office Space (whether by means of a sale, assignment, or otherwise), subject to the payment of transfer charges, the Interest Free Maintenance Security Deposit shall stand transferred in the name of the transferee and the Applicant(s) shall not claim the refund of the same. 7.6 The Applicant(s) agrees and undertakes to pay all the applicable property tax and one time lease rent and other Taxes as assessed by the Developer / Noida / Competent Authorities, in respect of the Office Space directly to such Authority. 7.7 The Parties agree that in addition to the Maintenance Charges, the Applicant(s) will be required to pay Rs. 21/- per square feet of the Super Area of the Office Space per year towards a Sinking Fund/Reserve fund of the Developer / Maintenance Agency, to be utilized for major repairs, replacement of machinery and/or other requirement(s) of the Office Space. Any delay in payment will render the Applicant(s) liable to pay 18% per annum. 7.8 The Applicant(s) further undertakes and agrees that in the event of his/her/their default in making the payment of Maintenance Charges, the Developer /Maintenance Agency shall be free to withdraw the amenities like water & electricity supply and other services till such time until the dues of Maintenance Charges are cleared / paid along with interest for the delayed period by the Applicant(s). The Applicant(s) further agrees and undertakes that he/she/they/it shall not raise any kind of objection whatsoever against such disconnection if he/she/it/they is/are defaulter in payment of dues of Maintenance Charges. Before disconnecting the water/electricity supply and services the Developer /Maintenance Agency shall however, give 7 (seven) days notice to the Applicant(s) for making good the default. 7.9 The Applicant(s) agrees and undertakes that the Said Project and Office Space shall at all times be governed by the provisions of the relevant applicable rules and law(s) including the amendments thereto from time and time and Applicant(s) shall at all times abide by the same. The 18

20 Applicant(s) confirms that he has gone through the relevant law(s) and undertakes to comply with all Terms and Conditions of the same and also confirms that he has taken note of the Privileges, Entitlements and Responsibilities of the Developer under the applicable law(s). 8. USE OF OFFICE SPACE 8.1 The Applicant(s) shall use the Office Space in consonance of above mentioned clause 2 and for purpose as stipulated therein and deviation therewith shall be construed as the event of default and will be dealt with in the manner stated hereunder. 8.2 The Applicant(s) agrees and undertakes that the Applicant(s) shall not do or permitted to be done, any of the following acts: a) To divide or sub-divide Office Space in any manner, which is at all times required to remain a single unit. b) Store / stock / bring into / keep in the Office Space any goods / material / fluid/ chemical / substance of explosive / hazardous / combustible / inflammable nature or any act which has effect of doing so, either directly or through any of the Applicant(s)'s agents, servants, employees, licensees, or visitors, which may cause risk of fire, or which, on account of their nature or particular characteristic, may cause damage to or endanger and /or expose to risk of such damage, to the structure or safety of the building or neighbouring Office Space / buildings, and/or the assets of the other neighbours. c) The Applicant(s) shall carry out the fit out in the Office Space in accordance with the plans approved by the Developer in order to maintain the aesthetic of the Wave Business Tower-I. 8.3 The Applicant(s) further agrees, acknowledges and undertakes that: a) The Applicant(s) undertakes and confirms to strictly follow the Building by-laws and Rules as prescribed by the NOIDA/competent authorities from time to time and in force and rules made by the Developer. The Applicant(s) further undertakes to follow the relevant local municipal by-laws and rules as may be applicable from time to time over the Said Project / Office Space and as may be amended from time to time, and to pay all applicable Taxes as may be due, in respect of the Office Space, and/or the Said Project (in proportion to the Super Area of the Office Space ). b) The Business Tower I in which the Office Space is situated shall always be known as Wave Business Tower-I. This name shall not be changed by any association or society of the Office Space Owners or any other persons/occupants. Further, at all times, the name of the Said Project and the name of the Developer and or its Logo/Trade Mark shall be displayed at prominent places in the Said Wave Business Tower-I in which Office Space situates. The copy right/trade mark/property mark and all intellectual property, (whether registered or not) shall always remain and vest with the Developer, and no person, including but not limited to the Applicant(s) /occupant(s) shall not have any claim or right of any nature whatsoever on the said intellectual property. The signage 19