SALE AGREEMENT THIS SALE AGREEMENT made at Bangalore, this ______________________, Between

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(1) Mr. ____________, son of ___________________, Aged 47 Years (2) Mrs ________________________ w/o _____________________, Aged 45 Years Both resident of No. _____________, _________ cross, _____________Block, ________, Bangalore-______, hereinafter called "the Vendors" (which expression shall unless repugnant to the context or meaning thereof mean and include their respective heirs, executors, administrators and assigns) of the FIRST PART;

Mr ________________ s/o Late __________________ aged _______________ years, Resident of _____________________, Tumkur, hereinafter called as "the

purchaser" (which expression shall unless repugnant to the context or meaning thereof mean and include his heirs, executors, administrators and assigns) of the SECOND PART.

WHEREAS the Vendors are absolute owners having possession of the house property which is more particularly described in the Schedule hereunder written (which property shall hereinafter for brevity's sake

be referred to as 'the property').

AND WHEREAS the said property was owned and possessed by the

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vendors was got through registered sale deed dated __________ with Document number _______________ before Sub-registrar Gandhinagar, Bangalore stored vide C.D. No. G.N.S.R ____. The vendor got the title to the property from previous owner and the same valid flow of title is well recognised by Vendors Bankers legal advisors and as the only owners having no co-ownership rights with anyone is professing to sell the property for reasons of clearing Banking Loan and other family necessities of the vendors. The said property was purchased by the vendors out of their self-earned money.

AND WHEREAS the purchasers herein have approached the Vendors with an intention to purchase the said property from the

Vendors and pursuant to the negotiations by and between the parties hereto and subject to the necessary documentations for registration to be supplied by the vendors and have agreed to complete the sale transaction of the said property more particularly described in the Schedule hereunder written for the consideration and upon the terms and conditions hereinafter appearing:

AND WHEREAS the said property is being mortgaged by the vendors with

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_________________ Bank by deposit of all title deeds for a loan of Rs ____________________ (Rupees______), the upto date arrears is approximately as follows Rs ________________ as on dt._______________. The loan amount hereby mentioned is the only loan existed upon the vendors property both personally and upon mortgage loan. There is no other liability or any other proceedings of recovery or claim over the vendor is the total assurance from the side of vendor.

AND WHEREAS the purchaser on having trusted the assurances came forward upon the following terms and conditions to take over the loan through his banker ________________________________, by way of transfer of loan amount out of sale consideration. The necessary formalities need to be completed within the stipulated period for the sake of completing the sale transaction as early as possible.

NOW THESE PRESENTS WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

(1) The Vendors do hereby agree to sell the said property for a sale consideration of Rs _________________ (One ___________Two ____________ Rupees). Out of the sale proceeds Vendors assures to claim and receive only the amount balance after clearance of loan arrears within the

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stipulated period that will be made through purchasers bank.

(2) In consideration of the Vendors having agreed to sell the property for such consideration, the purchaser agree to pay to the Vendors a sum of Rs. 5,00,000-00 (Rupees Five Lakh only) as advance towards the sale consideration, in the following manner:

(a)

Rs. 5,00,000-00

(Rupees Five Lakhs) through Cash before the

witnesses to this agreement (the payment and receipt whereof is this agreement itself and the Vendors both hereby admit, acknowledge, the receipt of the said amount).

(3) The vendors hereby authorise purchasers with No objection to get transferred the loan arrears to their Bank by way of loan take over and the vendors hereby authorise to purchaser to communicate with their bank for the same purposes.

(4) The vendors here by authorise purchasers bankers to get all the original documents transferred to their custody and do indemnify whosoever if the vendor fails to execute sale deed after receipt of full balance sale consideration as said earlier.

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(5) The Vendor hereby assures to give vacant possession of the property at the time of registration of sale deed and promises not to induct anyone in the intervening period either as tenant or in any other mode.

(6) The vendor hereby assures that they wont further create any charge over the property and this agreement is the last and final charge with such conditions as herein mentioned.

(7) The vendors hereby assure to provide any necessary documentation formalities if the Banker of the purchaser seeks to honour this sale transaction, wthout any further liability after sale completion.

(8) It is agreed and undertaken by the Vendors that they shall at their own costs and expenses persuade the matter regarding requirement of NOCs and other documents necessary for having valid registration as required under the various acts.

(9) The Vendors hereby agree that the said sale agreement shall not be, under any circumstances, revoked by the Vendors as long as these presents subsist and remain binding upon the parties hereto. If the sale agreement is revoked by the Vendors and delay is caused in registering the property hereby agreed the consequences arising thereof shall be at

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the costs of the Vendors alone.

(10) It is agreed and undertaken by the purchasers that they shall at their own costs and expenses, get the sale deed registered by paying the stamp duty on the prevailing sub-registrar market rates as per procedure, any variation from the actual agreed amount will not be claimed by both the parties.

(11) The Vendors shall render all assistance, co-operation and sign and execute or cause to be signed and executed all applications, plans, authorities and other writings as may be necessary or required to enable the registration of the said property and to obtain nill arrears certificate from BBMP.

(12) The vendors assure that the property is not under any acquisition proceeding and no acquisition notice is received by the vendors. The vendors assure that the property is not the target of any encroachment of public land and there is no notice to such effect.

(13) The Vendors shall make out a clear and marketable title to the said property, agreed to be sold and ultimately to be conveyed free from

reasonable doubts and all encumbrances and shall at their own costs and

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expenses got cleared all outstanding dues and clear all defects in the title and all encumbrances and claims on or to the said property including all claims by way of sale, exchange, mortgage, gifts, trust, hereditaments, possession, easement, lease, lien or otherwise.

(14) It is agreed and understood that the Vendors shall not in any way obstruct the officers of the purchaser bank from visiting and inspecting the said property for their assessment, and shall not do any act, matter or thing whereby the purchasers will be prevented from carrying out the agreed part as envisaged under this Agreement.

(15) The Vendors hereby declare that:

(a)

The said property is equivalent to freehold and is not held under any agreement, except that of the bank as mentioned earlier;

(b)

There are no outstanding encumbrances, mortgages, liens (notice for acquisitions, requisitions or set back) easements, rights of tenants or outstanding interest or claim by any parties other than the Vendors nor is the said property subject-matter of any pending suit or attachment either before or after judgement. No notification is issued under

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any Ordinance, Act, statute/rules or regulations affecting the said property; except that of bank arrers as mentioned earlier; (c) The Vendors further declare that neither the Vendors nor his/their predecessors-in-title nor any body claiming from/or under them or any of them have or have granted any right of way or easement or other rights to any person over the said property;

(16) It is agreed that the Vendors and all other necessary parties shall execute the Deed of Conveyance and/or all other writings in favour of such person/s as the purchasers or their bankers may direct . The

purchasers shall also join as a Confirming Party to the said Conveyance.

(17) The Vendors will ensure that under their supervision at the time when the Bankers of the purchasers require shall allow to enter upon the said property described in the Schedule hereunder written, the said house is absolutely vacant and nobody is in occupation of the same.

(18) The Vendors hereby agree and confirm that the purchasers shall be entitled to transfer the benefit and burden of this Agreement subject to the terms and conditions mentioned herein either as a whole or in part to

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one or more parties and that the Vendors shall have no objection to the same and the terms and conditions of this agreement shall remain binding over such transferees.

(19) The Vendors agree to pay Municipal, betterment charges if any, water charges, electricity charges, fines and penalties arising as a result of use of the said property till date of registration of sale deed.

(20) The Vendors declare that the property hereby agreed to be sold and conveyed are not subject to the easement or rights in the nature of easement.

(21) The Vendors hereby declare that no notice from Government or any other body or authority or under the Municipal Corporation Act or BDA Act, Land Acquisition Act or Town Planning Act, The Defence of India Act or under any other legislative enactments, KIADB Act, Government Ordinances, Order or Notification (including any notice for acquisition or requisition of property or any part thereof) has been received by or served upon them or any other person/s interested therein nor is the said property or any part thereof included in any intended or publishes scheme of improvement of the Municipal, Government body or Public Body or authority.

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(22) The Vendors hereby agree to pay and discharge all taxes and outgoings in respect of the said property prior to the sale on which the purchasers are to be put in possession of the said property.

(23) The Purchasers shall from the date they are put in possession of the property be entitled to receive the rents and profits and liable to pay all outgoings (including Municipal taxes, land revenue, charges for consumption).

(24) The Vendors shall pay all outgoings including the

municipal and

Collector's bills and charges in respect of the said property hereby agreed to be sold and conveyed previous to the date of handing over of the possession to the purchasers. The purchasers agree and undertake to bear all the charges in respect of the said property and all taxes,

Municipal, Collector's bills, etc. after the date of taking over of the possession.

(25) The Vendors declare that the property in question is self acquired property. However, there is no minor interested in the property and hence the question of obtaining the sanction from the competent Court relating to minor's interest in the property does not arise.

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(26) If the sale be not completed due to any wilful default on the part of the Vendors, the purchasers shall be entitled to specific performance of this Agreement, at the cost of vendors including any deficit in stamp expenses and other over heads.

(27) This agreement shall not be treated as a partnership between the parties.

(28) The purchaser shall keep indemnified the Vendors from and against all actions, claims, demands, proceedings, fines, penalties and all costs, expenses and damages incurred or suffered by the Vendors if there is any willfull default of purchaser in honouring this agreement.

(29) Save and except as hereinbefore otherwise provided, all costs, charges and expenses of the Vendors and of the purchasers and incidental upto this Agreement including stamp duty of agreement is mutually agreed to be borne and also paid by the Vendors alone. The fines and penalties payable to the Collector or transfer of the property not incurred by reason of any delay in lodging the Deed of Conveyance by the Vendors shall be paid by the Vendors alone.

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IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands and seals the day and year first hereinabove written. The Schedule above referred to ALL THAT piece or parcel of house property bearing Khatha No. ............ situated in ward no.______(old) new ward no. ____ of BBMP, with property no. ____--, _______________ cross Road in _____________main Road,

___________palya, Bangalore-_______________, measuring East to West 60 feet and North to South 40 feet (totally measuring 2400 sq.ft and bounded as follows:-

On or towards the East : Road On or towards the West: Property no. 60 On or towards the North: Property no. 48 On or towards the South: Property no. 46 First party
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Second party
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Witnesses 1. Name.. S/O. Adress . . 2. 2 Name.. S/O. Adress . .

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