TRI-PARTITE AGREEMENT

This TRI-PARTITE AGREEMENT is executed on this the 2^nd day of February, 2022.

 

AMONGST

MD John Baiden, National ID No.736382872932, Passport No.19672692002081483, Son of. Martin Luther King,   Permanent Address: Khilgaon-341, Eastern Houseing, Khilgaon, Khilgaon, Dhaka, Present address-802-31, Alexanderm ST, Toronto, Canada On, M4Y 1B2, by Religion: Islam, By profession: Lawyer/Attorney  Nationality- Bangladeshi by birth, hereinafter referred to as the ‘Landowner’ (which expression shall, where the context so admits, mean and include her successors, representatives, executors, administrators and assigns) of the FIRST PART.

 

AND

Dr. Narendra Kumer Thappa, date of birth: 11/06/1956, Nationnal ID No. 26953051176293, Son of  S.S.Humssein, Present and Permanent Address: House/Holding: 98,Road: 02(Newyork Park),Sector:14, P.O: Uttara-1230, Uttara, Dhaka north city Corporation, Dhaka by Religion: Islam, Profession: accident lawyer in USA; hereinafter referred to as the “Purchaser/ Second Party” (which expression shall, where the context so admits, mean and include its successors-in-profit, representatives, executors, administrators and assigns) of the  SECOND PART.

AND

AIN BISHAROD PROPERTY LTD.,  a private company limited by shares incorporated in Bangladesh under the Companies Act, 1994 engaged in the business within the real estate sector, represented by its Director ADVOCATE M.S RANA  having its registered office address at # 67, Road # 34/j, Basundhara, District-Dhaka hereinafter referred to as the “Seller/Third Party” (which expression shall unless excluded by or repugnant to the context mean and include its successors-in-interest, legal representatives, administrators and assignees) of the THIRD PART.

WHEREAS, the FIRST PARTY is the owner of Flat No. 5-G, Floor- 1^st, Size- 1950 sqft with 1(0ne) car parking and common facilities in the Land situated at Plot No. 43, Block- K of the project on East West Property Development, Dhaka as fully described in the schedule “B” situated on the land more fully described in the Schedule “A”.

WHEREAS, the FIRST PARTY proposes to sell out the scheduled property and purchaser/SECOND PARTY agrees to buy the Schedule ‘B’ residential apartment and one car parking along with undivided and undermarketed proportionate share of land out of schedule ‘A’ all the way through AIN BISHAROD PROPERTY LTD./ TRIRD PARTY . In this regard, all the parties here agree to enter into this Tripartite Agreement.    

NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES AND MUTUAL COVENANTS CONTAINED HEREIN THE PARTIES HERETO AGREE AS FOLLOWS:

1. DECLARATION:That the FIRST PARTY shall conveys all of his legal responsibilities to the THIRD PARTY regarding sale out the scheduled flat to  the SECOND PARTY and the THIRD PARTY shall hereby be empowered to act as a sole attorney of the FIRST PARTY to collect payment, Instalments, handover of flat, registration of sale deed, maintenance of the property, to collect rent, pay bills and any other lawful act as much as necessary on behalf of the FIRST PARTY.That the SECOND PARTY as a purchaser shall bind herself to make all the payments, Instalments and other in favour of the THIRD PARTY and the THIRD PARTY shall liable to ensure smother transfer of the scheduled property from the FRIST PARTY to SECOND PARTY within the period mentioned below .That the Third Party i.e. AIN BISHAROD PROPERTY LTD.,  do hereby undertakes to cooperate with the both FIRST PARTY and SECND PURTY to execute the sale deed subject to full payment of price agreed mutually and also to ensure all the needful action for smoothen the object of this deed.

• PAYMMENT AND INSTALLMENTS :

1. That the selling price of the scheduled property along with proportionate share of land, schedule ‘B’ residential apartment, with 1 (One) Car parking  and other common facilities is fixed at Tk. 87,00,000/- (Taka Eighty Seven Lac) only.
   1. That out of the aforesaid cost of Tk. 87,00,000/- (Taka Eighty Seven Lac) only the purchaser has already paid Tk. 2,00,000/- (Taka Two Lac) only as booking money in favor of AIN BISHAROD, by bank cheque (Dated:29.12.2021). The Down Payment Tk.10,00,000/-(Taka Ten Lac), (Dated:21.11.2021) & Final Payment Tk.75,00,000/-(Taka Seventy Five Lac) Dated:(21.12,2021) will be paid by the Purchaser/Second Party by bank cheque /Pay order in favor of AIN BISHAROD The THIRD PARTY shall acknowledge such collection and provide receipt to the SECOND PARTY after due collection of the same.
   1. That THIRD PARTY shall formulate all legal procedure regarding hand over and registration of the said premises within 6 (Six) months from execution of this agreement subject to the full payment made by the SECOND PARTY.  
   1. That,  all costs and charges for the purpose of registration of the schedule ‘B’ residential apartment by way of sale deed (registration cost includes cost of non-judicial stamps, AIT, Utsha kar, gain tax, registration fees, VAT, fees for transfer permission, Sub-registry office cost and miscellaneous charges) shall be borne by the SECOND PARTY.
   1. That under no circumstances, possession of the schedule ‘B’ residential apartment shall be given to the purchaser unless all payment required to be made under this agreement is made in full by the SECOND PARTY.
   1. That mutation and the City Corporation tax assessment in respect of the schedule ‘B’ residential apartments shall borne by the SECOND PARTY at her own responsibility and all kinds of utility bills like electricity, gas, WASA & Sewerage etc. and all other dues and charges shall be paid by the SECOND PARTY from the notified date of taking possession of the same and all of the previous dues must be borne by the FRIST PARTY.
   1. That so long as the City Corporation tax and urban immovable property tax and other taxes and charges are not assessed separately in respect of the schedule ‘B’ residential apartments, the SECOND PARTY shall pay his/her share of such taxes and charges in the name of FIRST PARTY that may be imposed in respect of the building.
   1. Neither this Agreement nor any terms hereof may be changed, waived, discharged or terminated unless such change, waiver, discharge or termination is in writing and signed both the Parties hereto.
   1. This agreement irrespective of the date of signing it by either party shall be deemed to have been made on the date first above written.

3.       REMEDY IN THE EVENTS OF DEFAULT

1. That if parties fails to execute or perform any of its obligations and undertakings under this Agreement and fails to hand  ver the said premises through registered sale deed within the said time period. The warranty or statement which is made by the THIRD PARTY in this agreement shall be liable to return all payment made by the SECOND PARTY within 15 (Fifteen) days from the expire date of this agreement.

• GOVERNING LAW AND JURISDICTION:

1. This Agreement shall be governed by and construed in accordance with the statutory laws of Bangladesh.
2. The Parties hereby irrevocably submits to the exclusive jurisdiction of the court of Bangladesh. Any disputes arises in connection with this agreement shall be tried under the provision prescribed in Arbitration Act-2001 as first instance.

6.       MISCELLANEOUS:

1. The Parties shall strictly abide by the terms and conditions of this Agreement.
2. This agreement is binding upon the heirs and successors-in-interest of the parties.
3. If any term, condition or provision of this agreement is held to be a violation of any law the same shall be deemed to be deleted ab-initio.

SCHEDULE

SCHEDULE ‘A’ PROPERTY Description of the Land

All that piece and parcel of land measuring an area of 9 Kathas land more or less situated in District- ………………, Sub-registry office: . …………….., Mouza- …………….., C.S Khatiya No. …………….. Plot No-…………….. S.A Khatiya No. …………….. Plot No-…………….., R.S Khatiya No. …………….., Plot No. …………….., Dhaka City Jarip Kahatiyan-…………….., Plot No. …………….., Area of  land- 0825 Agutangsho or 9 Katha of which 0082.50 belongs to this part at the project of East West Property Developments, Bashundhara R/A of Plot # …………….., Road # …………….., Block # …………….., Bashundhara, Dhaka.

SCHEDULE ‘B’ PROPERTY Description of the Property

Residential Apartment No. B-7, on 1st Floor, Size 1650 sft. and 1 (one) Car parking on the ground floor with all common facilities and services along with undivided and undermarketed proportionate share of land measured as 0082.50 augutangsho in the  schedule ‘A’ land.

IN WITNESS WHEREOF THE PARTIES HERETO SIGN, SEAL AND DELIVER THIS AGREEMENT ON THE DAY, MONTH AND YEAR ABOVEMENTIONED.

 

Signed, sealed and delivered for and on behalf of the FIRST PARTY   ______________________________ (NAME)

Signed, sealed and delivered for and on behalf of the SECOND PARTY   ______________________________  (NAME)   Signed, sealed and delivered for and on behalf of the THIRD PARTY   ______________________________ (NAME)

In the presence of:   1.   ______________________________ (NAME) 2.   ______________________________ (NAME)       3   ______________________________ (NAME)  .