Notes

of the witnesses.Now a sum of Rs.40,000,00/- (rupees forty lakh only ) is a balance towards the total sale consideration.
4.that the purchaser has applied for the loan from Oriental Bank of commerce (sector 34, Chandigarh) for the purchase of the said house,as the said house is already mortgaged by depositing the original sale deed with Bank of Baroda phase 5 Mohali and there is a loan outstanding against the seller, hence its decided among the parties that the outstanding amount as on date shall be deposited directly by the purchaser to the bank of Baroda against the loan account of the seller and thereafter, no due certificate issued by Bank of Baroda and original sale deed returned by the Bank of Baroda afte redemption of the mortgage shall be handed over to the purchaser and the remaining amount of sale consideration after discharging outstanding loan of Bank of Baroda,if any , shall be paid to the seller at the time of registration of sale deed and similarly if the loan amount is more than Rs.40,00,000/- ( rupees forty lakhs only) then the entire loan outstanding shall be paid by the purchaser to the Bank of Baroda and the seller shall be bound to repay the exceeding amount to the purchaser which is deposited in the loan account of seller in Bank of Baroda, if the loan amount so deposited exceeds Rs.40,000,00/- ( rupees forty lakh only ) .

5. That the last date for completion of bargain i.e. for the final payment and execution and registration of sale deed, agreement etc. before the sub registrar of circle concerned whichever is desired by the purchaser, has been fixed on or before 20/3/2019 which can be extended with the mutual conset of the parties if so required.

6. That the said seller has assured to the said procedure that there is no defect in the title of the said property and the same is free from all encumbrances , litigation, sale etc. till to date except the above mortgage with the Bank of Baroda.

7. That the said seller shall upto date dues of the property and shall obtain the NOC and also the NOC to sale / permission to transfer( as the case may be )from the office concerned. the purchaser shall also be liable to hand over her / his / there requisite affidavits / indemnity bond etc. To the seller immediately to enable the seller to submit the papers of NOC / permission etc. To the office wall in time. In case the property undersale is not transferred then the seller shall have to get the conveyance deed of the same executed / registered at his / her own expenses ,that all expenses of sale deed / CPA /transfer fees etc. Shall be borne by the purchaser, that the said seller shall hand over physical / vacant possession of the said property along with the papers and documents relating to the same to the said purchaser at the time of completion of the bargain. let that the said purchaser shall have the right to get the sale deed/transfer/CPA /WILL etc of the said property executed either in his / her own name or in the name of any of his / her nominee/s for which the said seller shall have no objection.

8. That none of the parties shall back out from this bargain at any stage in future. if the seller backs out then apart from being for criminal prosecution, he / she / they shall also be liable to make payment of double of the amount of earnest money(biana) to the purchaser.the purchaser shall have the right either to accept any such liquidated damages or to get the transaction effected through the court of law under the provisions of specific relief act, at the cost and risk of the seller/s. In case the purchaser backs out, then his / her earnest money( biana) shall stand forfeited in favour of the seller. that original copy of this agreement shall remain with the purchaser and copy there of with the seller for their respective uses.

9. That in the event of any dispute between the parties, the same shall we triable by the court of competent jurisdiction of the circle concerned.

IN WITNESSED WHERE OF, bo