SALES AGREEMENT – HOTEL SUITE
This SALES AGREEMENT (hereinafter referred as the ‘Agreement’) is made at Islamabad on the ----------------day of -------------2024 by
and between:
(1) SIGNATURE COMPLEX LLP, having its registered office at Plot No. 3, Main Srinagar Highway, Top City-1, Near new Islamabad
International Airport (hereinafter referred to as “Seller” which term and expression shall, wherever the context so permits, include its legal
heirs, successors in interest and permitted assignees) of the ONE PART.
AND
(2) Mr, --------------------------------son of --------------------------------------------------- resident of -----------------------------------------------------
----------------------------------------------------- holding Computerized National Identity Card (CNIC) Number/Passport No ---------------
--------------------------------(Individually, or in case of joint Purchaser, collectively referred as the “Purchaser” which term and expression
shall, wherever the context so permits, include his/her or their respective legal heirs’, successors in interest and permitted assignees and
any person who acquires the interest of the Purchaser -Annexure A) of the OTHER PART.
(3) Purchaser (jointly and severally) liable to Company for payment of Unit and performance in accordance with all other terms of this
Agreement. Purchaser and Seller may be referred to individually as a “Party” and collectively as the “Parties.”).
WHEREAS:
A. SIGNATURE COMPLEX LLP has acquired a piece of land measuring 6377 Sq. Yards situated at Plot No. 3, Top City-1, Main
Srinagar Highway, Near New Islamabad International Airport, Pakistan for the construction/development of Signature Rotana
Islamabad (hereinafter referred as “Project”). The project will be branded and operated as per ROTANA Hotel Management Corporation
PJSC Standards and Guidelines.
B. The Purchaser/Lessor has seen the plan for the Project and is desirous to acquire and purchase the Hotel Unit in the Project, the description
of Unit (“xxxxx”) is appended as Annexure B, The Unit is being purchased along with the Leaseback Agreement of the Unit with the
Seller/Lessee; and
C. The Seller/Lessee has agreed to sell and the Purchaser/Lessor agreed to buy a UNIT (as defined herein below) at the Project based on the
terms and conditions as contained in this Agreement.
NOW, THEREFORE, the parties, intending to be legally bound, agree to the following terms and conditions of this Agreement along with
Annexures appended hereto, which shall form an integral form of this Agreement.
1. DEFINITIONS AND UNDERSTANDING:
In this Agreement unless it is contrary or repugnant to the context shall mean and include:
Agreement Means this Agreement to Sell, as may be amended or supplemented by the parties mutually agreed from
time to time.
Applicable Laws Mean all federal, provincial, and local laws of Pakistan, including all orders, rules, regulations, statutory
regulatory orders, executive orders, decrees, judicial decisions, notifications, or other similar directives
issued by any public authority.
Project means the multistory Building being constructed and developed by the Seller, named and advertised as
Signature Rotana Islamabad.
Parties The Purchaser and Seller may be referred to individually as a “Party” and collectively as the “Parties.”
By-Laws Mean the rules and regulations introduced and implemented by the company to regulate the operations
and management of SIGNATURE ROTANA ISLAMABAD and the relationship between the company
and its allottees, its tenants, visitors, and occupants.
Common Areas means those parts of the Project not physically forming a part of any Unit and are intended for the
common use of all occupants or owners of Units, including inter alia all open areas, elevators,
administrative office areas, security systems, lobbies, Parking Area and hallways, etc.
Common Facilities Means all roads, pavements, water features, installations, elevators, power backup equipment, security
system, tube-well motors, improvements and common assets of the Common Areas that are intended for
facilitating all occupants.
Unit Mean either the Hotel Suite or Restaurant or Shop or any other saleable area having an allotted number
and space measuring in Gross Square feet (sqft).
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SALES AGREEMENT – HOTEL SUITE
Down Payment Date Mean the date on which the Purchaser will deposit the total down payment for the Unit and will
complete all the booking formalities prior to the Signing date of this agreement.
Due Date Means the date on or before which any payment or installment in the Payment Plan is required to be paid
by the Purchaser to the Seller in the designated bank account.
Next of kin Mean the legal successor of the Purchaser.
Total Consideration Mean the total consideration to be paid in full by the Purchaser for the acquisition of the Unit.
Gross Square Feet (sqft) Mean the Net Area of the “Unit” and all the service and common areas.
Occupancy right Mean the right that the purchaser attains for occupancy.
Sanctioned person This means any Person declared by the Government of Pakistan as a Person with whom dealings and
transactions are prohibited or restricted.
Commencement Date means the date on which the Seller or the Hotel Management Company formally launches the Hotel
operations.
Leaseback Agreement Means the Leaseback Agreement to be executed by and between the Seller and the Purchaser on or
before the Commencement Date whereby the Purchaser has leased back the Unit to the Seller.
Lease Period Shall have the meaning assigned to it in the Leaseback Agreement.
Taxes Means any federal, provincial or local taxes or levies payable on any component used for the
construction of the Purchased Unit or, where the context permits, applicable on the sale or lease thereof,
as may be prescribed or levied from time to time by any Government Authority.
Force Majeure Event Meaning ascribed thereto in this agreement.
1.1 In this Agreement, words in the singular shall include the plural and vice versa, words denoting any gender shall include all genders, and
references to persons include both bodies corporate and unincorporated entities.
1.2 The Parties understand that in case of any ambiguity, confusion or dispute regarding the interpretation of any clause of this Agreement,
the interpretation under the By-laws shall be deemed the correct and true interpretation.
1.3 In case of any conflict between the provisions of this Agreement and the By-Laws, the provisions of the By-Laws shall take precedence.
1.4 The Purchaser acknowledges and agrees that the Company may amend the By-Laws from time to time.
1.5 The Purchaser further acknowledges and agrees that the company reserves the right to revise this agreement after giving written notice,
if required.
2. AGREEMENT TO SELL AND CONSIDERATION:
2.1 That the company /Seller is absolute and lawful Owner of the ------------------ of Unit No ------------------------- at --------------------Floor,
measuring size of -------------Gross Square Feet at the total consideration of -----------------------------PKR with the Payment of amount-
---------------------------------------------------.
2.2 That the company / Seller has agreed to sell the above ------------------------- to the purchaser and the purchaser has also agreed to purchase
the Hotel Suite (Annexure B).
2.3 Payments from the Purchaser will only be considered as completed once the Seller has issued a receipt voucher against the payment and
furnished a receipt copy to the Purchaser which is not to be unreasonably withheld by the Seller.
2.4 The sale of the Unit by the Seller shall be subject to the timely payment of each Installment as per the Payment Plan set out in “Annexure
C”.
3. PAYMENT:
3.1 The purchaser has paid the payment Rupees --------------------------------------(In Words) Pak Rupees ------------------------------------------
----------------
3.2 The purchaser shall make a balance payment of the sale price in accordance with the payment schedule set out in the Payment Plan
Annexure-C.
Rate / Sq ft Total Amount Payment
Unit No Type Floor Area Sq Ft Payment (PKR)
(PKR) of Unit (PKR) %
Payment (PKR) in Words
3.3 The Purchaser must pay each installment on or before the dates stipulated in the Payment Plan (Annexure - C) to the Seller’s account
via banker’s Cheques, wire transfer, money gram or any other payment method specified by the Seller.
3.4 That notwithstanding anything to the contrary in this agreement, the purchaser shall not create or permit to exist any mortgage, bank loan,
lien (excepting the lien in favor of Project under this agreement) or charge or encumbrance (of whatever nature and howsoever described)
over or in respect of the unit or the purchaser’s interest therein without the prior written approval of Company.
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SALES AGREEMENT – HOTEL SUITE
3.5 Both parties agree and understand that the Purchaser shall not sell the “Unit” to any third party without informing the company in writing
and paying the documentation/transfer fees, applicable at that time, on the prescribed form. Any act done in contrary to that shall be
considered void.
3.6 That the Purchaser will not and cannot halt paying installments, until and unless his/her unit is All Dues Clear (ADC).
3.7 That the Purchaser cannot stop paying the installment even if any of the matters in that regard is Sub judice.
3.8 The Purchaser shall be responsible for payment of all federal or provincial taxes, rates, charges, impositions and duties (howsoever
designated, including stamp duties) in respect of the “Unit”.
3.9 The Purchaser agrees to indemnify and hold harmless the company against any claims, impositions and penalties imposed by any authority
in relation to any tax regarding the “Unit”.
3.10 Upon completion of construction of the Project duly conveyed through Completion Notice, the Purchaser acknowledges and agrees to
payment of charges for pre-opening activates/services and operation of Signature Rotana Islamabad, proportionate to his/her area of Unit
as reasonably determined in good faith through By-law/Policy of the Company.
3.11 Total Consideration and payment received by the Company under this Agreement shall be subject to deduction and/or withholding of
applicable taxes under the laws of Pakistan.
4. PROPRIETORSHIP AND PROJECT COMPLETION:
4.1 The completion date represents the date upon which it is expected at the time of entering into this agreement that construction of the
Project will be completed, and the Unit will be ready for commencement. The anticipated completion date of the project will be April
2027 with a grace period of 6 months.
4.2 Subject to the terms of this agreement, if Company fails to complete the Project by the specified completion date (or as extended per
Clause 4.1 herein above), Company shall pay to the purchaser who has made all their installments on time, an amount equal to 0.5% of the
received payments per month as the purchaser’s exclusive remedy for the delay.
4.3 On or before the Completion Date, Company shall issue a notice of completion to the purchaser, requiring the purchaser to pay any
outstanding portion of the Sale Price and other charges, if any.
4.4 Execute a management agreement, in form and content approved by with the management company and pay the management fee to the
management company.
4.5 Company shall be entitled to decline the transfer of title and retain or resume possession of the unit from the purchaser in the event the
purchaser fails to pay the sale price as specified herein above or fails to comply with any other provisions of this agreement.
5. MANAGEMENT OF THE UNIT:
The Parties understand that as SIGNATURE ROTANA ISLAMABAD is a hotel project and agree to the following:
5.1 The “Unit” shall be managed and operated by the company after commencement and therefore possession of the “Unit” shall remain
with the company.
5.2 The Unit shall be managed by the company on behalf of the Purchaser for an indefinite period (“Management Term”).
5.3 The company shall have full and exclusive rights of the “Unit” without interference from the Purchaser.
5.4 The Purchaser confirms that their unit shall be managed by the Company solely and exclusively as under the Franchise Agreement with
Rotana.
5.5 The Purchaser shall authorize the Company or any other entity nominated by the Company to be the sole contracting party and transfer
their Guest Rooms into the Hotel’s room inventory, so the Company operates such Guest Rooms as Hotel units.
5.6 The Purchaser grants an unconditional right to the company to Rent out the “Unit” to any third party as the tenant/client/customer of the
“Unit” for rental income purposes without obtaining any sort of approval from Purchaser.
6. MODIFICATION/VARIATION:
6.1 The purchaser understands and acknowledges that the gross area of the unit includes net area of the unit and proportionate common and
service area of the specific floor. Company at its sole discretion or as required by RDA or any public authority, may change, vary or
modify the plans (as set out in the Drawing), features list, floor plan, layout, design, size, orientation, features, colors, materials, finishes,
equipment, accessories, fixtures, fittings, specifications and amenities of the unit or the PROJECT shown at the time of execution of this
agreement or as illustrated in any sales brochures, model or otherwise, without notice to or consent from the purchaser, provided that the
substituted items are of comparable quality. The Purchaser hereby consents to any such changes, modifications and/or substitutions.
6.2 The purchaser agrees that the purchased unit will be used exclusively for permitted use as recommended by PROJECT management.
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SALES AGREEMENT – HOTEL SUITE
7. TRANSFER OF TITLE:
7.1 The company is not obligated to transfer, and will not transfer, any title of “Unit” based on will, testament, or bequest.
7.2 Any family member wishing to acquire the “Transfer of title” after the demise of Purchaser shall take the decree from a court of
competent jurisdiction.
7.3 The transfer of title will be executed solely in accordance with the court decree and no other means unless the Purchaser, while alive,
grants such rights to their kin through other legal means.
8. COVENANTS AND WARRANTIES:
8.1 The Parties agree that the company retains and reserves the sole and absolute right at all times to amend the floor plan and/or make any
significant or minor changes, of whatsoever nature in t h e P ro j ect .
8.2 The Purchaser shall at all times comply with the By-Laws of the First Party.
8.3 The Purchaser shall at all times comply with the Applicable Laws of Pakistan and shall not carry out any activity or permit to carry out
any activity which causes damage, loss or harm to the “Unit” or Signature Rotana Islamabad.
8.4 The Parties represent and warrant to each other that:
a) This Agreement has been executed by their duly authorized representative;
b) All corporate actions (if required) to give effect to this Agreement have been validly taken and are subsisting;
c) The execution and delivery of this Agreement does not violate the applicable laws, nor does it contravene any provision of this
agreement or other contracts, which it is a part of or by which it may be bound.
8.5 The Purchaser undertakes not to take any step or action which causes any delay in the construction of the Project and agrees and
acknowledges that the Purchaser shall be liable to pay the damages incurred by the company in case any delay is caused directly or
indirectly by any action or omission of the Purchaser.
8.6 The Purchaser also agrees to indemnify and hold harmless the company against any claims from other allottees of the Company in case
of any delays caused by the acts or omissions of the Purchaser.
8.7 The Purchaser shall not transfer any rights pertaining to the “Unit” to any third-party without obtaining prior written permission of the
company.
8.8 The Purchaser shall have no right or claim to the use of any Marks under this Agreement or otherwise.
8.9 The Purchaser undertake to ensure all contractual warranties, obligations and responsibilities shall survive, be endorsed and assumed by
any or all successors, heirs, buyers or any other individual to the extent permitted by the legislation of the Country.
8.10 The Parties are independent entities and nothing herein contained and no course of dealing between the Parties will create or be deemed
to create an agency, partnership, employer-employee, joint venture or any other relationship, fiduciary or otherwise between the Parties,
and/or between their respective employees and the other Party, and no Party shall act on behalf of the other Party, or present itself as an
agent or representative of the other party.
8.11 Headings contained herein are provided for convenience and reference only. Headings are not to be construed in any way as additions or
limitations of the covenants and agreements contained in this Agreement.
9. OCCUPANCY RIGHTS & PERIOD
9.1 The Company at its own discretion to give the Purchaser and its direct family member the right to occupy Guest Rooms at a discounted
rate of 50% (fifty percent) during off-peak period and up to 40% (forty percent) during peak period, for a maximum of 15 (fifteen) calendar
days per annum (the “Occupancy Period") subject to the availability at the time of making the booking and is subject to any blackout
periods as determined by the Company.
9.2 The Occupancy Period shall be of a maximum period of 10 (ten) calendar days in off-peak period and a maximum of 5 (five) calendar
days in peak period for a standard hotel room, as such peak period and off-peak periods will be determined by the Company in line with
market demand trends, for Non-Standard rooms the entitlement will be calculated on a pro-rata basis.
9.3 The Occupancy Right is solely applicable to Purchaser and their direct family members (direct parents, spouse and children). The
Occupancy Right cannot be extended by Purchaser to any other person.
9.4 Purchaser will be accommodated based on his/her request and approval by the company for the occupancy based on availability.
9.5 The Purchaser must provide the Company with no less than 30 (thirty) calendar days prior notice detailing the proposed dates of
occupancy for peak period and 14 (fourteen) calendar days prior notice for off-peak period.
9.6 If the Purchaser does not exercise its Occupancy Rights for the particular calendar year, such rights will be forfeited and cannot be carried
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SALES AGREEMENT – HOTEL SUITE
over into the following calendar year.
9.7 Purchaser and their direct family members shall have no right to occupy their Guest Rooms unless in the capacity of a paying guest based
on prices and policies established by the Company.
10. LEASEBACK
10.1 Upon Completion of the Project and before commencement date,
a. The seller/lessee shall notify the Purchaser/Lessor through registered mail about the milestone achieved along with the formal
commencement date announcement.
b. The Purchaser /Lessor shall transfer the possession of the Unit to the Seller/Lessee in accordance with the terms and conditions of
this Agreement and the Leaseback Agreement.
10.2 The Purchaser/Lessor acknowledges, understands, and accepts that the leaseback terms with respect to the Unit, subject to terms of the
formal Agreements in relation thereto, shall be as follows:
a. Leaseback Agreement shall be effective for period of twenty (20) years starting from the Commencement Date which period is
renewable for a further twenty (20) years or in accordance with the provisions of the Leaseback Agreement (“Lease Period”).
b. Upon lapse of the Lease Period of the Leaseback Agreement, the Lessor would have two options, which are to renew the Leaseback
Agreement for another 20 years or to offer the unit in buyback to company, after the refusal of the company the purchaser/lessor have
option to sell it to third party at the prevailing market rate. (time period to be determined for the subsequent leaseback agreement).
c. In addition to payment of Profit to the Purchaser/Lessor, the Seller/Lessee shall offer occupancy rights at discounted rates in
accordance with the Leaseback Agreement.
10.3 As part of Lease Back agreement, the Purchaser/Lessor will get profit share out of Room Occupancy Profit generated by average square
feet of hotel suite they own in a month as per following;
a. The Purchaser/Lessor will get 60% of the net profit after hotel operational expenses, taxes, facilities charges, financial charges etc.;
b. The remaining 40% will go towards the Seller/Lessee;
c. The company will prepare the financial calculations and determine the profit-sharing ratio/amount for disbursement to
Purchaser/Lessor based on the average square feet of hotel suite they own on a monthly basis &
d. The company will ensure the Profit Share Calculation is duly verified & audited every quarter by the audit firm of repute.
10.4 The Seller/lessee shall pay the profit share to Purchaser/Lessor within 15 days following the end of each month in accordance with the
terms of the Leaseback Agreement.
11. NOTICES:
11.1 All correspondence from the company will be directed to the Purchaser at the mailing address provided in Annexure A. However, the
company will not assume any responsibility for the correctness of the address or non-receipt of any letter issued by the company due to
any ambiguity in the address provided by the Purchaser.
11.2 Any notice or other communication given or made under this Agreement shall be in writing and can be sent via mobile WhatsApp, Email,
or delivered in person or by courier or by the post office to the relevant Party.
11.3 The addresses or contact numbers for such communications are those notified hereunder by that Party from time to time for this purpose
(Annexure A) and shall be effectual notwithstanding any change of address or number not so notified. All notices and written
communications shall be in the English language. Unless the contrary shall be provided, each such notice or communication shall be
considered given, made, and delivered.
11.4 If such notice or communication is received by the addressee after working hours on any working day, then such notice shall be deemed
to have been given or received at the start of the next working day. For the purposes of this clause, “working hours” means 09:00 am to
06:00 pm at the place where the notice/letter/correspondence is to be served from Monday to Friday.
12. DEFAULT OF OUTSTANDING PAYMENT BY THE PURCHASER:
12.1 That the Purchaser is bound to pay all of his/her remaining installments/outstanding in accordance with the Payment Plan (Annexure
C) to avoid defection in his/her payment plan.
12.2 That failing to comply with (Clause 12.1) of this agreement, the Purchaser will be served with “REMINDER NOTICE” after 15 days
of his/her late payment at his/her given address and email and other whatsoever adequate information provided by the client in order to
communicate through.
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12.3 That if the Purchaser do not pay the remaining outstanding/payment of installment after receiving “REMINDER NOTICE” according
to (Clause 12.2) of this agreement, the COMPANY shall serve another notice citing it as “SHOW CAUSE NOTICE” on 30th Day of
late payment at his/her given address and email and other whatsoever adequate information provided by the client in order to
communicate through.
12.4 That failing to comply with (Clause 12.2 and 12.3) of this agreement the company shall serve the “DEMAND NOTICE” to the
Purchaser on 45th Day of late payment at his/her given address and email and other whatsoever adequate information provided by the
client in order to communicate through.
12.5 That despite serving the above three (03) notices if the Purchaser still does not pay his/her remaining installment, the company will
serve a “CANCELATION NOTICE” which will take effect immediately on the 60th Day of late payment of outstanding/installment of
the unit.
12.6 That if the Purchaser responds and wills to retain the unit and pay the remaining installments within 15 Days of “CANCELATION
NOTICE” which will be counted as 75th Day. The Purchaser will have to pay the TOTAL unpaid amount.
12.7 That in case of termination of this agreement because of the default of payment of the sale price or failing to submit installment as per
Payment Plan (Annexure C) or any other breach by the purchaser, COMPANY shall reserve the sole right to rescind and repeal this
agreement.
12.8 If the Purchaser has paid fewer than 10 installments or less than 75% amount, whichever is lower, and in the case of late payment or
default, the company may, at its sole discretion, provide an alternative unit with All Dues Clear (ADC) of equivalent square footage
corresponding to the total amount paid.
12.9 The company reserves the right to relocate or make structural modifications to the purchaser's unit due to any default or late payment by
the purchaser or to comply with restrictions imposed by any government authority. In such cases, the company will prepare a new
customer file and agreement.
12.10 That subject to the deduction and confiscation of above mentioned total price of the unit, the Purchaser or any other individual
whatsoever pertinent to the “Purchaser” cannot purport and claim it in any court of law or any legal forum or authority whatsoever.
13. TERMINATION/CANCELLATION OF AGREEMENT:
The company shall terminate/cancel the Agreement if at any time if Purchaser ;
13.1 Commits a default in payment obligations, unless the default is cured within 15 (fifteen) days after a "Cancellation Notice" is issued.
13.2 Violates any other clause of this agreement.
13.3 Become a Sanctioned person.
13.4 Registers this Agreement with any Government Entity or other authority without the company's prior written approval.
13.5 Enters into a Sale Agreement with a third party without intimation to the company.
14. FORCE MAJEURE:
14.1 The First Party shall not be liable or responsible for delays or failures in performance under this Agreement, if and to the extent such
delay or failure in performance is caused by any occurrence beyond the control of the First Party, including but not limited to any such
delay or failure resulting from (a) any Acts of God such as lightning, fire, earthquake, tsunami, flood,storm, cyclone, typhoon or tornado
or (b) any act of war, invasion, armed conflict or act of foreign enemy or a massive and sustained campaign of terrorism or political
sabotage, etc or (c) the requirements of any legislation, or judicial, quasi-judicial, executive or regulatory order (any such event or
occurrence, a “Force Majeure Event”.
14.2 If a Force Majeure Event occur, which might delay the project completion, the company will notify the Purchaser of such Force Majeure
Event and will give the Purchaser a new completion date or an estimate of the duration of the delay caused by the Force Majeure Event,
as the case may be practically possible notify the Purchaser in writing of the existence of such Force Majeure Event that makes it
impossible for the company to carry out in whole or in part its obligations under this Agreement.
14.3 The company shall take all reasonable steps to mitigate the effect of such Force Majeure Event and the Company may revise its rates or
may delay the completion of the project at the time.
14.4 The Purchaser shall not claim any damages/financial benefits from the company in case of any delays or interruption in construction
work due to a Force Majeure Event.
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15. GOVERNING LAW AND DISPUTE RESOLUTION:
15.1 This Agreement shall be governed by and construed in accordance with the laws of Pakistan.
15.2 Any dispute, controversy or claim arising between the parties involving the principal Agreement or any part thereof, shall be settled
amicably in the spirit of goodwill by mutual consultation of both the parties, which if not possible within (15) days from thereof, then
the matter shall be settled by reference to Arbitration upon any party. The demand for arbitration shall be made within a reasonable time
after the claim; dispute or other matter in question has arisen.
15.3 After lapse of 15 days arbitration proceedings may be initiated by delivery of notice in writing by either party to the other party.
15.4 The Sole arbitrator shall be appointed with mutual consent of the parties under “Arbitration Act, 1940 whose decision shall be final and
binding upon the parties.
15.5 Where the Parties are not able to agree upon the selection of an arbitrator, within thirty (30) days of commencement of arbitration
proceedings by service of a demand for arbitration, the arbitrator shall be selected by the Court of competent jurisdiction in accordance
with the terms of this agreement.
15.6 The arbitrator appointed by the court of competent jurisdiction shall be final.
15.7 It is clarified that an Amicable settlement shall be only a good will to Arbitration. The venue of Arbitration shall be in Islamabad and
the courts of Islamabad shall have exclusive jurisdiction thereon. Each party shall bear its own cost of Arbitration.
15.8 It is the intent of the Parties that, barring extraordinary circumstances, arbitration proceedings will be concluded within thirty (30) days
from the date of appointment of the arbitrator. The arbitrator may extend this time limit in the interests of justice. Failure to adhere to
this time limit shall not constitute a basis for challenging the award.
15.9 Except as may be required by law, neither a Party, nor its representatives, may disclose the existence, content, or results of any arbitration
hereunder without the prior written consent of the other Party.
15.10 Any dispute regarding arbitration shall be resolved through “Arbitration Act 1940”.
16. GOVERNMENT EXPROPRIATION OR TAKEOVER:
16.1 In the event that the Project is taken over, expropriated, or requisitioned by any government authority or agency for any reason
(hereinafter referred to as "Expropriation"), the company shall notify the Customer in writing within 7 days of receiving notice of such
Expropriation.
16.2 Upon Expropriation, this agreement shall terminate automatically, and neither party shall have any further obligations or liabilities
hereunder except as provided in this clause.
16.3 If the government authority or agency provides compensation for the Expropriation, the company shall, to the extent legally permissible,
pass on a proportionate share of the compensation to the Customer based on the payments made by the Customer relative to the total
investment in the project. The distribution of compensation shall be determined within 30 days following receipt of the compensation
from the government authority.
16.4 The Company shall be responsible for managing any legal proceedings or negotiations with the government authority or agency regarding
the Expropriation.
16.5 The Customer agrees to cooperate with the Company and provide any necessary documentation or information required during the legal
proceedings or negotiations related to the Expropriation.
17. SEVERABILITY:
17.1 Each of the provisions of this Agreement is severable and distinct from the others. The invalidity, illegality or unenforceability of any
provisions of this Agreement shall not affect the continuation in force of the remainder of this Agreement.
17.2 Purchaser following any of the clauses consisting in the Agreement will not defame, spoil, slander, libel, or damage the reputation of
the company at any ground at any competent forum.
18. WAIVER:
18.1 The waiver by the First Party of a breach or default of any of the provisions of this Agreement by the Second Party shall not be construed
as a waiver of any other or subsequent default or breach, nor shall any delay or partial exercise of any right or remedy or omission on
the part of First Party to exercise or avail itself of any right, power or privilege that it has or may have under this Agreement operate as
a waiver of any breach or default by the Second Party. The rights and remedies outlined in this Agreement are cumulative and do not
exclude any rights or remedies available under the law.
18.2 The Parties are independent entities and nothing herein contained and no course of dealing between the Parties will create or be deemed
to create an agency, partnership, employer-employee, joint venture or any other relationship, fiduciary or otherwise between the Parties,
and/or between their respective employees and the other Party, and no Party shall act on behalf of the other Party, or present itself as an
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agent or representative of the other party.
19. ENTIRE AGREEMENT:
19.1 All terms and conditions specified in this agreement are fundamental to the Agreement and forms the basis on which the company has
agreed to sell and allot the Unit.
19.2 The terms and conditions, set in this Agreement (including the Annexures attached hereto, if any), constitute the complete, final, and
entire Agreement between the Parties regarding the subject matter herein. Anything not expressly included in this Agreement (including
the Annexures attached) shall not be inferred or considered as a part of this Agreement.
19.3 Any modification to this Agreement will only be considered valid if it is documented in writing and signed by each Party or their
authorized representatives.
19.4 This Agreement supersedes all prior negotiations, representations, or agreements, and any amendments thereto.
IN WITNESS WHEREOF the Parties have executed this Agreement in the presence of witnesses on the Signing Date.
AS COMPANY Signature Complex LLP As PURCHASER
through its authorized Signatory
ON THE BEHALF OF PROJECT
Signature _____________________
Signature _____________________
Name: _____________________
Name _____________________
Designation _____________________
CNIC # _____________________
Thumb Impression _____________________
ON THE BEHALF OF PROJECT In the presence of WITNESSES
Signature _____________________ Signature _____________________
Name: _____________________ Name _____________________
Designation _____________________ Address _____________________
CNIC # _____________________
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