Beruflich Dokumente
Kultur Dokumente
Form No. 9
180
5. On the acceptance of such offer of the vendor by the co-owner or coowners separately or jointly between all or any of them the Vendor and the intending Purchaser or Purchasers shall negotiate for the price of the share of the Vendor and agree upon the same. But if there is no such agreement arrived at within two weeks from the receipt of acceptance of the offer to purchase by the Vendor then the question of determination of the market price will be left to the decision of a common Architect to be agreed upon failing which, to the decision of an Architect to be nominated by the All India Institute of Architects and the decision of such Architect will be binding on the parties and the decision shall be deemed to be an agreement between them. 6. If two or more co-owners other than the Vendor offer to purchase the share of the Vendor independently then the intending purchasing coowners shall bid between themselves. Subject to the maximum price agreed to or as determined aforesaid the share will be sold to the co-owner who offers the higher or highest price. 7. Any contract formed as a result of the service of the notice and counter notice by the Vendor and any other co-owners respectively as mentioned above, shall be completed by execution of the deed of conveyance by the Vendor against the payment of the price by the Purchasing co-owner or co-owners within 4 weeks after the determination of the price as aforesaid 8. In case any of the co-owners (hereinafter referred to as the mortgagor) proposes to alienate his share, right, title, interest as a security for payment of any loan proposed to be raised by him, he shall give first option to any of the co-owners to advance the loan by serving a fifteen days notice on the other co-owners to that effect and in the event of any co-owners agreeing to do so by serving a counter notice to the mortgagor within two..... weeks from the receipt of the option notice from the mortgagor, the mortgagor shall execute the necessary document of security in favour of such co-owners or co-owner against advance of the loan. If however the other co-owners fail to counter reply or the terms of the loan are not agreed upon between the mortgagor and other co-owner, the mortgagor will be free to raise the loan from any other person. 9. In connection with the notice and counter notice under the terms of this deeds, time shall be of the essence. The schedule above referred. IN WITNESS WHEREOF THE PAR TIES HAVE PUT THEIR RESPECTIVE HANDS THE DAY AND YEAR FIRST HEREINABOVE WRITTEN. Signed by the within named (1) ..........(2) .........(3) .......... (4) ............ in the presence of ......... __________
Note : This Agreement is also required to be Stamped as an Agreement.
) ) )