MEMORANDUM OF UNDERSTANDING

This Memorandum of Understanding (MOU) is executed at Chennai, on this the . Day of

.200..

BETWEEN
M/s.

..,

company

incorporated under the Companies Act 1956, having its registered office at No.
..

and

represented by its Managing Director hereinafter called the Party

of the first Part, which expression shall unless excluded by or repugnant to the context be deemed
to include its nominees, successors-in-interest and assignees.
Mr. . son of aged about . years
residing

at

No..

hereinafter called Party of the

Second Part which expression shall unless excluded by or repugnant to the context be deemed to
include his legal heirs, legal representatives, nominees, executors, administrators, successors-intitle and assignees.
WHEREAS the Party of the First Part is interested in purchasing and acquiring all the parcel of
land

situated

at

No,

..

Village,

..

Taluk,

. District elaborately set out in the schedule hereunder and referred to

hereinafter as the Schedule Property.
WHEREAS Party of the Second Part has agreed to work with the Party of the First Part and has
offered to negotiate and arrange for acquiring the said lands.
WHEREAS Party of the Second Part represents that it has finalized the negotiations orally with
the owners of the some of the lands described in the schedule.

-2AND WHEREAS, the parties hereto have come to an agreement and wish to reduce the terms and
conditions thereof into writing.
NOW THIS DEED OF MEMORANDUM OF UNDERSTANDING WITNESSETH:
1.

Party of the Second Part shall purchase the schedule mentioned lands for and on
behalf of the Party of the First Part and for this purpose Party of the First Part shall
bear the sale consideration and make available sufficient capital to purchase the said
lands.

2.

Party of the Second Part shall negotiate the sale price with the concerned land owners
with full power and absolute authority to deal with them and cause the concerned
owners to sell and transfer the lands in favour of the Party of the Second Part or its
nominees. As and when requested by the Party of the First Part, such lands shall be
transferred to and in favour of Party of the First Part or its nominees.

3.

Party of the Second Part shall agree to purchase, on behalf of the party of the First
Part, a total extent of land Acre .with in a period of . months from the date
of the MoU.

4.

The Party of the Second Part has agreed to purchase the land at the prevailing rate for
the party of the First Part without any escalation in the price during the subsistence of
the agreement.

5.

Party of the shall bear the commission @ % of the sale value of the land to the
agents for each land.

6.

The Party of the First Part has agreed to pay service charges to the party of the
Second

Part

at

the

rate

of

Rs../-(Rupees

.. only) per acre to meet the

expenses in respect of transfer of patta, survey of land, laying of stones, payment
towards getting Chitta & Adangal, Kist Receipt and VAO Certificate, to clear the
tenant, lessee, licencee, unauthorized occupant or trespasser or encroachment, if any,
on the land to be purchased.

-37.

Party of the First Part shall bear in addition to the expenses as mentioned above all
other expenses in respect of Registration of land, such as Stamp Duty, Registration
Fee, Documentation Charges and other incidental charges @ Rs../(Rupees . only) per acre.

8.

Party of the Second Part shall hand over all original title deeds, available parent
documents and records pertaining to the each sale deed to the PARTY of the First
Part after completion of all the formalities.

9.

During the subsistence of this agreement, the Party of the First Part shall not either by
themselves or by their agents, representatives etc., negotiate directly with the Vendors
or any other person representing such Vendors of the land mentioned in the schedule
except at the request in writing of the PARTY of the SECOND PART
Also the Party of the First shall not enter into any agreement in respect of schedule
mentioned lands with any other person during the subsistence of this agreement.
Lands measuring approximately .. acres and situated at

.. Taluk, District being

Village,
more

elaborately

described in Annexure to this Agreeemnt.

In WITNESS WHEREOF the PARTIES HERETO have signed this deed this, the
.. day of .200..
For .

For

Managing Director
WITNESSES:
1
2

.
Proprietor.

-4ANNEXURE
.. Village, Taluk, .. District
Survey No.

Extent.