MEMORANDUM OF UNDERSTANDING.

This deed of Memorandum of Understanding is

made and executed on day of June 2012 by and
between;

Sri. P. N. SRINATH.
S/o. P. Narayana.
Aged about 41 years.
Residing at No. 35,
National High School road,
V. V. Puram, Bangalore-560 004.

Herein after called and referred to as FIRST PARTY, of

the one part,
AND
M/s. PRABHAVATHI BUILDERS.
A partner Firm.
At No. 105, 9th Main, S.R. Naidu Layout,
Hongasandra, Bangalore-560 068.
Represented by Its Managing Partner:
Sri. B.E. Praveen Kumar.
S/o. B.C. Ekambaram.
Aged about 29 years.
R/at No. 105, 9th Main, S.R. Naidu Layout,
Hongasandra, Bangalore-560 068.

Herein after called and referred to as SECOND PARTY, of

the other part.

AND
1. Sri. K. NAGARAJA REDDY.
Aged about 42 years.

2. Sri. K. RAJAGOPAL.
Aged about 38 years.
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Both are sons of Sri. M. Krishna Reddy.

Both are residing at No. 1604,
20th Main Road, H.S.R. Layout, 1 sector,
Agara, Bangalore -560034.

Herein after called and referred to as THIRD PARTY, of

the other part.

The terms First, Second and Third Party shall mean

and includes their legal heirs, administrators,
representatives, assigns etc., when ever the contests so
permits.

The First Party was the absolute owner and in possession

of the entire Property bearing New
No.275/265/260/2/50/31, situated at Roopena
Agrahara, Bommanahalli, madiwala Post, Bangalore-560
068, presently coming under the jurisdiction of Bhuhat
Bangalore Mahanagara Palike, Ward No. 15, Roopena
Agrahara ward, Bangalore,, totally measuring 9,749 Sq.
feet. That by joint Development Dated 08-06-2011 the
First and the Second Party have agreed to develop the
said property and to share the constructed area. The said
Joint Development is registered as No. BMH-1-05329-
2001-12, in Book-1, and stored in CD No.
BMHD512,dated 15-09-2011, in the office of the sub-
registrar, Bommanahalli, Bangalore Urban district.

That by Registered Sale deed Dated -06-2012 the First

Party has sold and delivered portion of the said property,
measuring 400 Sq. feet, to the Third Party for
consideration. The said portion of the said property is
detailed in the Schedule A given hereunder and referred
to as Schedule A Property herein after. The Second Party
is the consenting witness for the same. Hence now the
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Third Party is the absolute owner and in possession and

enjoyment of the schedule A Property.

But till this date no construction is put up in the

schedule A property and Schedule A Property is still
vacant.

That further the First and the Second parties by

Mortgaging the original title deeds of the said property
have taken loan from Canara Bank Bank, Cunningham
Road Branch, Bangalore and till this date the said loan is
not discharged/cleared. The original title deeds deposited
with the Bank are detailed in the schedule B given
hereunder.

That in reference to Non-construction of building in

the schedule A Property and the clearing of said loan,
handing over of original title deeds detailed in schedule B
and the FIRST, SECOND and THIRD PARTIES have
come to following Understanding:

Now This Deed of Memorandum of

Understanding Witnesses as Follows:

1. That the First and the Second Party shall clear the
entire loan with the said Bank, in reference schedule A
property and further they shall got all the documents
detailed in Schedule B, from the Bank and hand over the
same to the Third Party with in one year from this date.

2. That in case if they fails to do so, the Third Party

shall have the right to claim and collect a sum of Rs.
10,000-00 [Rupees ten thousand only] per month as
damages for the entire delay period, from First and
Second Party.
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3. That herein after the First and the Second Party

shall not put up or construct any construction/building
in schedule A property and they are at liberty to
construct building only in the said adjacent portions of
the property. Further herein after the First and the
Second Party shall not shall not cause any obstruction to
the Third Party for the use and occupation of schedule A
Property.

4. The Third Party has the right and liberty to institute

legal proceedings against the First and Second Party for
enforcement of conditions No. 2 and 3 of this MOU.

S C H E D U L E “A” P R O P E R T Y.

All the part and parcel of portion of Property

[vacant] bearing New No.275/265/260/2/50/31,
situated at Roopena Agrahara, Bommanahalli, madiwala
Post, Bangalore-560 068, presently coming under the
jurisdiction of Bhuhat Bangalore Mahanagara Palike,
Ward No. 15, Roopena Agrahara ward, Bangalore,
Measuring East to West: 40 feet or 12.191 meters and
North to South 10 feet or 3.047 meters, in total 400 Sq.
feet or 37.145 Sq. meters and bounded on;

East by: Private Property.

West by: -------- Apartment.
North by: property belonging to K.Nagaraja Reddy
and K. Rajagopal, the purchasers herein.
South by: Property belonging to Sri. Ramaiah.

Original Title Deeds of schedule A Property

deposited with the Bank –referred to as:

Schedule B Property.
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1. Original sale deed Dated 28-01-2002, registered as

No. 11163/0221-02, of Book-1, stored in C.D. No.
68/2001-02, in the Office of the sub-registrar,
Bangalore (South), Bangalore (Urban) District.
2. Original Release Deed dated 07-02-2009, registered
as No. BMH-1-05990-2008-09 of Book-1, stored in
C.D. No. BMHD364, in the office of the Sub-
registrar, Bommanahalli, Bangalore.
3. Original khatha certificate in the name of First Party
and the tax paid receipts.

In Witnesses whereof the First, Second and Third

Party have signed this deed of Memorandum of
Understanding on the date, month and year first above
mentioned.

Witness.
1.
FIRST PARTY.

SECOND PARTY.

2.

THIRD PARTY.