MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding is made and entered on this 11 th day of

June Two Thousand Fifteen (11/06/2015) at Bangalore:
BY AND BETWEEN:
SRI. MUKUNDARAJ
Aged about 53 years,
S/o Late M. Ramappa
Residing at No. C-1,
Ramappa Badavane,
7th Block, J.P.Nagar
Bangalore-560 078.

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Hereinafter called as the FIRST PARTY/VENDOR which term shall mean

and include his heirs, legal representatives, assigns and anybody claiming
through him of the ONE PART:

AND
M/S DREAMZ INFRA INDIA LTD.,
Represented by its Managing Director,
Ms. Disha Choudhary Aged about 26 years,
Having its office at No.577/B,
2nd Floor, Outer Ring Road,
Teachers Colony, Koramangala,
Near Silk Board,
BANGALORE-560034.
Hereinafter called as the SECOND PARTY/PURCHASER which term shall
mean and include its successors, administrators, assigns and anybody
claiming through the company, etc. of the OTHER PART:
WITNESSETH AS FOLLOWS:

I.

WHEREAS the First Party is the absolute owner in lawful/peaceful

possession and enjoyment of property bearing Khata No.46/1, Property No.
C-17 measuring to an extent of 595 Square feet, situated at Puttenahalli
Village, Uttarahalli Hobli, Bangalore South Taluk, Bangalore, which is more
fully and particularly described in the schedule hereunder, hereinafter
referred to as schedule property.

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II.

WHEREAS the First Party being acquired the schedule property by virtue of
Registerd Partition Deed dated 27-03-2002, registered in the Office of the
Sub-Registrar

of

Kengere,

Bangalore,

vide

document

No.

BNG(U)-

KNGR/17529/20101-02.
III.

WHEREAS the Second Party M/s Dreamz Infra India Ltd being a reputed
builder/developer planning to construct a residential apartment named as
DREAMZ SAMHITAin the immovable Property bearing Survey No. 102,
measuring to an extent of 9801 square feet, Property bearing No. 29 carved
out of Sy. No.102,

measuring to an extent of 6725 Square feet,

and

Property bearing CMC No. 28, measuring to an extent of 7078 square feet
situated at Kothanur Village (presently called as Puttenahalli Village),
Uttarahalli Hobli, Bangalore South, Bangalore Urban District, having
acquired in terms of different Sale Deeds, dated 07/11/2012 vide Document
No. BMH-1-06422-2012-13, Book-1, stored in C D No. BMHD596, dated
14/12/2012 vide Document No. BGR-1-08445-2012-13, Book-1 stored in C
D. No. BGRD 186, in the office of the sub registrar Begur, Bangalore and
dated 17/01/2013 vide document BGR1-9474-2012-13, stored in C D. No.
BGRD190, in the office of the sub registrar Begur, Bangalore.
IV.

WHEREAS the Second Party M/s Dreamz Infra India Ltd willing to
increase the FAR of the residential apartment named as DREAMZ
SAMHITA and willing to purchase the schedule property for widening the
road adjacent to the said project and also in east face of the project
provision will be made for surface runoff water to flow by providing 12 inch
diameter PVC pipe.

V.

WHEREAS the Second Party has personally inspected the location of the
schedule property mentioned hereunder and found that the property
situated in the location is suitable for the Second Party for widening of the
road to increase FAR of the residential project named as DREAMZ
SAMHITA and has expressed interest to purchase the schedule property as
per the terms and conditions hereinafter contained.

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VI.

WHEREAS the First Party, agreed to enter into this initial Agreement with
Second Party and the Parties have agreed and accepted to the terms and
conditions of This MOU.

VII.

WHEREAS the First Party has assured the Second Party that he shall sign
and execute all type of document/s in favour of the Second Party as and
when required by the Second Party. And

VIII.

WHEREAS both the parties are desirous of reducing the terms into writing
and accordingly this Memorandum of Understanding is being entered into;

NOW

THIS

MEMORANDUM

OF

UNDERSTANDING

WITNESSETH

AS

FOLLOWS:

CONSIDERATION:
The First Party has agreed to sell the Schedule Property for a valuable sale
consideration

of

Rs.30,94,000/-(Rupees

Thirty

Lakhs

Ninety

Four

Thousand Only) and The Second Party has agreed to pay the same.
PAYMENT:
The First Party have received a sum of Rs.6,18,800/- (Rupees Six Lakhs
Eighteen Thousand Eight Hundred Only) towards advance sale consideration
through cheque bearing No.002174, dated19.06.2015 drawn on Kotak
Mahindra Bank Koramangala Branch, Bangalore, as agreed by First Parties.
The Second Party has agreed to pay the balance amount of Rs.24,75,200/(Rupees Twenty Four Lakhs Seventy Five Thousand Two Hundred Only)

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within 3 (Three) Months from the date of this MOU as agreed by both the
parties.
THE FIRST PARTIES AND SECOND PARTY COVENANTS FOR THE
FOLLOWING TERMS AND CONDITIONS:
i

The First Party hereby covenants with the Second Party that he have a good
and valid marketable title to the Schedule property, have authority and right
to convey and sell the Schedule Property, which is conveyed and expressed
to be sold as per the manner aforesaid.

ii The First Party hereby covenants with the Second Party that they have not
alienated or entered into any agreement or general power of attorney with
the third parties in respect of the Schedule Property or any part thereof to
any person or persons in any manner.

iii The First Party herein assured to the Second Party that the land is free from all
encumbrance, any attachment, court attachments, court litigations by any
person/s or persons or from the Government, for the payment of any taxes,
or claims of minors, or claim of maintenance by any person whatsoever, and
the First Parties agreed to indemnify the Second Party against such claims if
arises.
iv The First Party herein further covenants with the Second Party that he shall
indemnify the Second Party against all and any losses, damages or of injury
which the Second Party may sustain on account of breach of the above
covenants or of any legal proceeding in future or any one or more of them or
due to any defect in the title of the Schedule Property conveyed to the
Second Party under this Indenture.
v The First Party herein further covenants with the Second Party that he shall
give the possession of the schedule property to the Second Party by vacating
any person/s staying in the schedule property.

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vi This MOU may be terminated by either party upon written notice if the other
party breaches any of its obligations hereunder and the breaching party
fails to cure such breach within thirty (30) days after receipt of notice of
such breach.
vii The provisions of this MOU are severable, and if any one or more provisions
may be determined to be illegal or otherwise unenforceable, in whole or in
part, the remaining provisions, and any partially enforceable provision to
the extent enforceable in any jurisdiction, shall nevertheless be binding and
enforceable.
viiiAny notices or other communications required or permitted under this MOU
shall be in writing and shall be deemed to have been duly given and
delivered when delivered in person, Fifteen (15) days after being mailed
postage prepaid by certified or registered mail with return receipt requested,
or when delivered by overnight delivery service or by facsimile to the
recipient at the following address or facsimile number, or to such other
address or facsimile number as to which the other party subsequently shall
have been notified in writing by such recipient.
ix With

respect

to

its

subject

understanding

of

the

matter,

parties

this

MOU

superseding

constitute
all

prior

the

entire

agreements,

understandings, negotiations and discussions between them whether

written or oral, and there are no other understandings, representations,
warranties or commitments with respect thereto.

INDEMNITY CLAUSE:
a The First Party hereby indemnified and keep indemnified the Second
Party/nominee/ against any defect or deficiency in the title of the property
or any loss or hardship which may sustain to the Second Party due to any
future legal proceedings and shall execute and register the necessary
document in favor of the Second Party/Nominee. In the event the title of the

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land is found to be defective and no clear and marketable title over the land
in respect of which the document is executed, the First Parties is
responsible for refund of the amount along with liquidated damage/s
suffered by the Second Party and this MOU shall stand cancelled.
b The First Party hereby indemnified that the Schedule Property is free from
litigations, all types of attachment/s, acquisitions, minor claims etc. and the
First Party have not entered any agreement, Power of Attorney, MOU etc.
with any third party, if the same has been done the First Party shall refund
the amount of consideration paid by Second Party with interest and
liquidated damages to the Second Party.
DURATION:
It is mutually agreed that the MOU will be in force between the parties for a
period of Four months. The period mentioned in the MOU may be extended
with the mutual consent of the parties.
MUTUAL OBLIGATION:
a The Second Party paid a sum of Rs.6,18,800/- (Rupees Six Lakhs
Eighteen Thousand Eight Hundred Only) through cheque bearing No.
002174 drawn on Kotak Mahindra Bank, Koramangala, Bangalore, dated
19.06.2015, as advance amount as stated in the clause 2 and the First
Party acknowledges the same for the payment received from the Second
Party.
b The First Party shall permit to the Second Party to install hording and
boards in the schedule property in the name and style of M/S DREAMZ
INFRA INDIA LTD., and also permit to the Second Party to market the
schedule property.

SCHEDULE PROPERTY

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All That Piece and Parcel of the property bearing Khata No.46/1, Property
No.C-17 measuring to East-West 11+6/2 feet and North-South 70 feet, Total
595Sq.ft., situated at Puttenahalli Village, Uttarahalli Hobli, Bangalore South
Taluk, and bounded as on:
East by

Road.

West by

Private Property.

North by

No. B-6 Property.

South by

Private Property.

IN WITNESS WHEREOF, the parties have affixed their respective signatures to

this MEMORANDUM OF UNDERSTANDING on the day, month and year first
hereinabove written before the following witnesses.
WITNESSES:
1).

FIRST PARTY

2).

SECOND PARTY

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