TERMS AND CONDITIONS

"Executive Heights" is a multi-storied residential project being built over 7011 sq yds of land at Plot # 23, F-11/1 Islamabad. The project is designed to be the cynosure of the cosmopolitan city of Islamabad. Maximum comfort of life, total privacy, comprehensive security, prime location, covered car parking for every apartment, superb architectural planning and sound structural design are key features of the project.

The Developer offers the apartments in The Executive Heights on the terms and conditions herein mentioned:

1. The Applicant/Vendee shall apply for the booking of apartment on this form and incase of the acceptance of the application by The Developer The Applicant/Vendee shall pay the agreed down payment and subsequent installments.
2. The cost of the apartment does not include the electric/sui gas connections and meter charges. The Applicant/Vendee shall pay these charges.
3. The Applicant/Vendee shall strictly abide by the schedule of payment as agreed upon in the agreement, failing which The Developer shall recover a penalty of PKR 100 per day for every PKR 100,000/- (Rupees One hundred thousand only) paid late. For example an installment of PKR 500,000/- is being delayed for 10 days. In this case a penalty of PKR 5000/- (500*10) will be charged.
   In case of nonpayment of two consecutive installments, whether formally demanded or not, The Developer will have the right to cancel the booking/allotment and refund the payments made by the Applicant/Vendee after deducting 10% of the total price of the Apartment (as establishment charges) and amount accrued as delayed payment charges. However such re-imbursements shall be made as and when the said apartment is rebooked/ sold to the new buyer.
4. If The Developer does not deliver the physical possession of the said Apartment on scheduled date as mentioned in The Allotment Letter of the apartment then The Developer will pay the Applicant/Vendee the rent of the said Apartment as follows:
   • 2 Bed Compact                    --PKR 12,000/month
   • 2 Bed Supreme                     --PKR 15,000/month
   • 3 Bed Prime Center              --PKR 18,000/month
   • 3 Bed Prime Left Corner      --PKR 20,000/month
   • 3 Bed Prime Right Corner    --PKR 20,000/month
   • 3 Bed Royal Center             --PKR 20,000/month
   • 4 Bed Royal                        --PKR 25,000/month
5. On completion of the apartment, the firm shall intimate the Applicant/Vendee to take the possession of the apartment. The Applicant/Vendee shall be bound to take over the possession of the apartment after clearing all outstanding dues of the apartment, within 15 days of such intimation.
6. After taking over the possession or he/she is informed to take over the possession, The Applicant/Vendee shall pay thereafter all dues, bills, Property Tax, Conservancy charges, water charges etc of the apartment.
7. The Applicant/Vendee shall be responsible for all charges relating to the transfer/lease execution of the apartment (such as documentation/registration charges, transfer fee, stamp paper cost, C.V.T and all other taxes levied by the government). The Applicant/Vendee shall pay all these charges whenever called upon to do so.
8. After completion of the building The Developer shall be responsible for the management of the building for a period of 3 years. Applicant/ Vendee shall have to pay the Maintenance charges for the Lifts, Electricity, Plumbing, Security, Generator fuel and service, cleaning & gardening for the Common Areas; Salaries of the maintenance staff and water through building wells. The maintenance fee for the first year will be PKR 3,000 per month for all 2 bed apartments, PKR 3,500 per month for all 3 bed apartments and PKR 4,000/- per month for all four bed apartments. The maintenance fees for the first six months shall be payable in advance before taking of the possession of the apartment by the Applicant/Vendee.
9. The Applicant/Vendee will use the apartment for strictly residential purpose only.
10. The demand notice of payments and all other correspondence will be dispatched by post at the address of the Applicant/Vendee given in the application form. The Vendors/Builders shall not be responsible for non-delivery of communications if the Applicant/Vendee does not notify change of address in advance.
11. The interior of the apartment will be done according to the plan / specifications given in The Allotment Letter of the apartment.
12. No Applicant/Vendee shall be allowed to use the open roof space of the building. All the roof tops are exclusive property of the Developer and no Applicant/Vendee shall have any right what so ever over the roof tops of the building.
13. The Applicant/Vendee shall not carry out any additions or alterations involving structure of building within the apartment allotted to the Applicant/Vendee, nor shall the Applicant/Vendee effect any change to the elevation of building in any circumstance whatsoever for all times to come.
14. For all times to come all tenants shall never lay clothes on the railings of the balconies. If clothes are found on the railing of any apartment’s balcony, then the landlord shall be charged with financial penalty. It is advised to The Applicant/ Vendee that before they rent out their apartment to someone, they should have a strict clause regarding this matter in their lease agreements.
15. Any subsequent/future sale of apartment shall be got registered by The applicant/Vendee with The Developer after payment of transfer fees as well all other outstanding dues if any, related to the apartment. Any sale not registered with The Developer shall not be entertained/ processed by The Developer for further transfer of the title of the apartment in CDA office.
16. The property rights of exterior walls of Executive Heights rest with The Developer. No one other than The Developer shall have the permission to change the color scheme of the exterior walls. Similarly no changes in the projections/shades/ railings will be allowed to The Applicant/Vendee.
17. If any Applicant/ Vendee lease out his/her apartment, then he/she will be bound to submit a copy of the lease agreement in the office of The Developer.