PAGE NO.

AGREEMENT OF SALE

THIS AGREEMENT OF SALE is made at Karachi on this ____ day of

________________, (2021).

BETWEEN

MRS.AZRA TARIQ wife of Tariq Iqbal Khan, Muslim, adult, holder of NIC No.
661101-1789982 resident of House no 179 Street no 18 Khayabab e Rroomi Karachi,
hereinafter referred to as the “VENDOR” (which expression wherever appearing in
these presents shall mean and include his/her heirs, assigns, legal representatives,
attorneys, executors, administrators, and/or any other person authorized in this
respect) of the One Part.

A N D
MR.MUHAMMAD RAFIQ son of MUHAMMAD SIDDIQ, Muslim, adult resident
of Bungalow No.F-39, Block-8, Clifton, Karachi, Karachi holding Computerised
National Identity Card No. 42301-6500073-9, hereinafter referred to as the
“VENDEE” (which expression wherever appearing in these presents shall mean and
include his heirs, assigns, legal representatives, attorneys, executors, administrators,
and/or any other person authorized in this respect) of the Other Part.

WHEREAS :

The VENDOR abovenamed on the date of these presents sole, lawful and undisputed
owner and is seized and possessed of and otherwise well and sufficiently entitled to
ALL THAT leasehold residential plot with construction bungalow with basement and
single story, thereon bearing Plot No. 179, 18th Street, Phase VIII, measuring 1000 sq,
yds. or thereabout situated in Pakistan Defence Officers' Housing Authority, Karachi,
vide Form 'A' lease dated the 5th day of August 2010 registered under No. 2674 at
pages 01 to 06 in M.F Roll No. 54541, Book No.I, in the office of the Sub-Registrar
T-Division II Karachi on the 24th day of September 2010, the Pakistan Defence
Officers' Housing Authority, Karachi (hereinafter referred to as the “SAID
PROPERTY”)

AND WHEREAS :
 PAGE NO.2

The said VENDOR abovenamed has agreed to sell, convey, transfer, grant and assign
the Said Property with peaceful complete vacant possession and free from all
encumbrances, charges, liens, burdens, mortgages, demands, disputes, litigations,
previous commitment and dues etc. to the said VENDEE for a lump sum consideration
of Rs.15,00,00,000/- (Rupees Fifteen Crores Only).

The said VENDEE abovenamed has agreed to purchase the Said Property from the
said VENDOR on the said sum sale consideration of Rs.15,00,00,000/- (Rupees
Fifteen Crores Only).

NOW THEREFORE THIS AGREEMENT WITNESSETH AND IT IS

HEREBY AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS
:-

1. That the VENDOR has agreed to sell, transfer, convey, grant and assign the
Said Property, together with all existing as well as future rights, title, benefits,
privileges, interest, easements and estate in the Said Property, free from all
encumbrances, charges, claims, liens, burdens, mortgages, demands, disputes,
litigations, previous commitment or dues of any nature whatsoever and
together with peaceful complete physical vacant possession, marketable title
and having all regular authorized working connections for Telephone,
Electricity, Gas, Water and Conservancy to the VENDEE for an aggregate all
inclusive purchase price of Rs.15,00,00,000/- (Rupees Fifteen Crores Only).

2. That the VENDEE has agreed to purchase the Said Property on the aforesaid
consideration and has paid to the VENDOR a sum of Rs. 50,000,000/- (Rupees
Five Crore Only). Vide CASH dated ___, February 2021, today at the time of
execution of this Agreement of Sale, being PART PAYMENT towards the
agreed sale consideration of the Said Property, the receipt whereof the
VENDOR doth hereby admit, acknowledge and has also passed on a separate
receipt thereof.

3. That the remaining balance amounting to Rs.100,000,000/- (Rupees Ten Cores

Only) shall be paid by the VENDEE to the VENDOR in the following manner.
(a) Rs. 90,000,000 (Rupees nine crore )on or before __________2021 (not
later than 75 days after signing of this Agreement). when VENDOR will hand
over the peaceful complete physical vacant possession of the Said Property to
the said VENDEE. After making this payment the VENDEE shall be entitled
to demolish the property on the basis of approval of the surrender of A Lease.
for complete the process of A Lease surrender and then demolition.
(b) Rs. 10,000,000(Rupees one crore) would be withhold which VENDEE
shall pay at the time of transfer of the property in the name of VENDEE and/or
his/her nominee(s).

4. That the VENDEE further confirmed that all balance payment shall be paid in
accordance with provisions as stipulated in clause 3 above. The VENDOR
hereby undertakes to handed over the original relevant documents to the
VENDEE of the ‘SAID PROPERTY’ at the time of payment stipulated in 3(a)
above. The balance amount stipulated in 3(b) shall be paid by the VENDEE
at the time of transfer of the property in the name of VENDEE and/or his/her
nominee(s).

5. That the VENDOR assures that the said property is free from all sorts or
claims, liens, demands, charges, taxes and any other encumbrances and
disputes whatsoever nature.
 PAGE NO.3
6. That the VENDOR shall apply for A Lease surrender of ‘SAID PROPERTY’
on request of VENDEE, the VENDEE shall bear all costs of documentation of
A Lease surrender, related fees of DHA/CBC/MEO, etc., or related to any
expenses paid by VENDEE at his own cost and efforts, VENDEE shall also
bear the cost of demolition after completion of the process of A Lease
surrender.

7. That the VENDOR further covenants and assures with the VENDEE that his
title documents, papers and deeds in respect of the said property are genuine,
valid and full force and have not become voidable and the VENDOR has full,
lawful and marketable title thereof and he is competent to sell the said property
to the said VENDEE and the VENDOR further agrees and undertake to
VENDEE fully secured, harmless and indemnified and compensated in respect
of all losses, damages and injuries which may be suffered or sustained by the
VENDEE owing to any defect in the title documents of the said VENDOR.

8. The VENDOR hereby warrants and represents to the VENDEE as follows:-

.
(i) That the VENDOR is the absolute and exclusive owner of the Said
Property and the same is free from any defect to title, mortgages, liens,
claims, encumbrances, objections, or charges of any and all kinds and
the VENDOR is entitled to enter into this Agreement to Sell and
complete the sale in favour of the VENDEE.

(ii) That the VENDOR doth hereby agreed to indemnify and keep the
VENDEE indemnified fully secured and harmless against any losses,
damages, claims, charges, demands, burdens, liabilities, rights and
determents suffered by the VENDEE arising or owing to or on account
of any claim or demand preferred by any one in respect of the Said
Property or any part thereof or due to any defect in the title of the
VENDOR or their predecessors title in the Said Property hereby agreed
to be sold, transferred, assigned and assured unto the VENDEE.

(iii) That in case of any claim regarding ownership or share in the said
property or in case of any defect in the title of the said property the
VENDOR shall indemnify the VENDEE to the extent of such claim
which may encumber it.

(iv) That neither the Said Property nor any portion or part thereof, is
affected by any notice or scheme of acquisition or requisition of any
government authority or department nor is there any dispute or
litigation pending or threatened before any forum or court in respect of
the Said Property or the proposed sale thereof.

(v) That all taxes dues, charges, fees, outgoings, bills, demands, levies,
assessments, ceases, income taxes, rent and other charges including
MEO Dues, CCB Dues, DHA Dues, KESC Dues, PTCL Dues, Sui Gas
Dues, and other charges/dues etc. if any pertaining to and in respect of
the Said Property have been paid and shall be borne and paid by the
VENDOR upto the date of the registration of the Conveyance Deed in
favour of the VENDEE and/or his nominee(s) or upto the date of
handing over physical possession of the Said Property to the VENDEE.

(vi) That the Vendor further agrees to be ready and prepared to sign the
applications and other documents whenever required and appear before
the authorities concerned in connection for
transfer/mutation/registration of the said property in favour of the
Vendee or his nominee(s).
 PAGE NO.4
(vii) That the VENDOR declares and confirms that prior to the execution of
this agreement he has not entered into any agreement of sale in respect
of the Said Property and further declares and warrants that there will be
no obstacle created either by the Government or any person or body
and that the title of the VENDOR is perfect and that there is no other
claimants to the Said Property and that the VENDOR shall be
responsible to discharge, claims, dues and objections if any and
VENDOR further undertakes not to enter into any agreement with any
other person or persons during the subsistence of this agreement.

(vii) That time is the essence of this agreement and VENDOR shall deliver
the peaceful complete physical vacant possession of the Said Property
to said VENDEE within the stipulated time, alongwith all original title
documents and all original paid bills, challans of the Said Property on
receiving the balance amount of sale consideration.

9. That immediately after the execution of these presents the VENDEE through
his/her Solicitor shall publicly invite objections through publication of the
Public Notice in popular leading newspaper(s) against the Sale/transfer of the
Said Property in favour of the VENDEE and in case any objections are
received in response to the said Public Notice, it shall be the sole and exclusive
responsibility to the VENDOR to clear these objections making our a clear,
valid, subsisting and unencumbered marketable title of the Said Property at
their (Vendor’s) cost and account.

10. The cost of stamp duty, registration fee and other incidental charges applicable
to the execution and registration of the Conveyance Deed shall be borne and
paid by the VENDEE. The VENDOR shall be responsible to fulfill any other
formalities required to be completed by the VENDOR for the registration of
the Conveyance Deed and transfer of the Said Property in favour of the
VENDEE and/or his nominee(s).

11. That the terms and conditions which are essence of this agreement of sale
which is IRREVOCABLE and shall not be revoked by any party under any
circumstances and if any party fails to perform his part of this Agreement the
aggrieved party shall be entitled to get this Agreement specifically performed
through a competent Court at the cost of defaulting party.

IN WITNESS WHEREOF the parties abovenamed have hereunto set and subscribed
their respective hands at Karachi on the day, month and year first above mentioned.

WITNESSES:

VENDOR :
1._______________________ ____________________________

VENDEE :
2._______________________ ____________________________
 PAGE NO.5

RECEIPT

RECEIVED with thanks a sum of Rs.________________/- (Rupees

___________________________________________________ Only) from
____________________________________________________________ Muslim,
adult, holder of NIC No.__________________ and resident of
_____________________________________________________ Karachi, through
Pay Order vide No.________________ dated ________________ drawn on
____________________________________________________ Karachi, being part
payment of sale consideration against my property being
______________________________________________________
____________________________________________________________________
__________________________________________ KARACHI.. I have already
received a sum of Rs._______________/- (Rupees ___________________________
Only) in cash on ______________ being advance token money; now total amount
received comes to Rs.______________/- (Rupees
________________________________ Only) out of total sale consideration of
Rs.___________________/- (Rupees _____________________________________
Only) as per Sale Agreement executed today.

KARACHI.
DATED :

RECIPIENT :
____________________________