Agreement made
at------this day of -- between Mr. A----- hereinafter referred to as the seller
of the one part and Mr. B ______ hereinafter referred to as the buyer of the
other part as follows:
1. In
consideration of a token sum of Rs. ---- paid by the buyer to the seller this
day (the receipt whereof the seller having acknowledged0 the seller agrees that
during the period of ---days/months from the day her of (called lockout prod)
the seller will not conduct negotiation with any third party for the sale of
the property of the seller being the piece of land admeasuring about sq------
meters having S.No. --- Plot No------ and situated at ---- and will not send to
a any third party a draft contract of sale or title deeds relating to the
property.
2. The
seller agrees forthwith to instruct his advocate/solicitor to send the contract
and other relevant papers to the Advocate/solicitor acting for the buyer to
deal promptly with any amendments to the contract and any inquiries raised on
or on behalf of the buyer.
3. The
buyers agrees forthwith to take all necessary steps to proceed with the
Proposed purchase of the said property including approval of the contract and;
The title to the said property, raising inquiries arranging a mortgage (if
required) and a surveyor.
4. This
agreement will lapse if the buyer informs the seller that the buyer no Longer
wishes to proceed with the purchase of the said property or upon the expiry of
the said lock out period whichever event happens earlier.
5. This
agreement is independent of contract for sale and does not bind the Parties to
sell or buy the property.
Signed by the
Seller)
Signed by the
Buyer)
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