MEMORANDUM OF UNDERSTANDING.Inbox x

SomNath Gupta <snguptaca@gmail.com> Mar 23 (1 day ago)

to me

                                      MEMORANDUM OF UNDERSTANDING 

The Memorandum of understanding singed on today that is IE 20-03-2015 b/w 1:- Shri rakesh chandra awasthi S/O Late shri chandra shekhar awasthi resident of 83, Head post office road, Ghura Mau Bangla, Sitapur2:- Shri sanjay pandey S/O Shri suresh prakash pandey resident of ED 472 Sec-Q Aliganj Lucknow.3:- Shri dinesh kumar shukla S/O Late shri jagdeesh prasad shukla resident of 6/595 jagdeesawaram Puram, vihar takrohi, Lucknow.                                                        AND

1:- S.N.Gupta S/O Late shri kailash nath gupta resident of B-11 sector B aliganj Lucknow.    For acquire, Purchase and development of land situated at civil line, Sitapur. On following terms and conditions:-

1:- First party have committed that they have resources and approaches with following persons- A- Padri of the church at sitapur.B- Authority of reasonal board of Methodist church in India at Barely who are owner of properties described in Khatauni No-63 Khasra No-525 Area 1.048 hqtr in the name these persons situated at village Chawani quadeem Pergana khairabaad tehseel and district sitapur as per record which is now in the area of civil line,sitapur.C- That the Church has been given this property in the year 1906 by the government of U.P is the category of 5 Gha as the revenue record shows they are having lease hold rights on this land. D- That 1st party have assured that they will manage from the 1st party that this property will be provided to the 2nd party on perpetual lease date with further right of 1- development 2- Get it free hold 3- Mortgage to the bank 4- sell it 5- develop it for plotting for the benefit of trust. E- 1st party will have to pay management charges to the owner of property by following way Rs 5 lakh cash, Rs 10 lakh cash after 30 days, Rs 15 lakh cash on approval of perpetual lease from the board of the church. 

F- After all this activities the owner of the property is that is the board of the church will charge Rs 50Lakh for the benefit of the trust that will be payable after completion of development of the land to the owner of the church. G- That accordingly 2nd party Will have to bear all these expenses for this project of the property and pay cash amount for the management of this property through Mr. Rakesh chandra awasthi and amount payable to the trust by way of RTGS in the account of the church board.H- That all legal, follow up, official follow uo and liaginening work will be completed by the 1s party.I- 2nd party will bear charges for lease hold, charges for registration of perpetual deed, charges for development.J- 1st party under his own supervision will get the land developed for the purpose of plotting.K- That on completion on project 25% share of the net profit will be given to 1st party by the 2nd party.

                                                        PROPERTY NO-2

1- 1st party have assured that they are having sources and approches with A:- M/S RajkumariB:- M/S jaikumariC:- M/S vijaykumariD:- M/S umakumari D/O babu jainarayan resident of Chawani kadeem, pargana khairabaad district/ tehseel Sitapur who are the owner of land discribed in attached NZA approximate area 46 Bigah. having Nazul plot no 1481 situated at civil line,sitapur.2- That they are the owner of the land having lease right and right to sell.3- That 1st party will manage agreement to sell with possesion of the property of above mentioned person in favour of 2nd party4- That 1st party will manage mutation in the name of 2ns party get the property free hold and submit the development plant of the land to the authorities for their approval of development of this land and will take supervision of taking the possesion, labeling the land and plotting of the land on the expenses of the 2nd party.5- That 1st party will have to pay Rs 5 lakh by cash and 45 lakhs by check to the owner of this land for exicutuion of agreement to sell of this property in favour of 2nd party.6- 2nd party has promised to provide the same to the 1st party for delivery to 2nd party and getting the agreement to sell excuted and register in favour of 2nd party.

7- That total sale considertation of party is 2.50 cr which will be paid to the owner of the land through 1st party by way of post dated cheque payable on registration of final sale deed.8- That if any agreement regard this land has been made by the owner of the land then same will be manage to be got cancelled by 1st party at expenses of 2nd party and this amopunt will be adjusted from the amount of sale consideration mentioned above payable to 1st party.9- That in this propertyu also the 1st pary will entitled 255 share of the net profit.