AN AGREEMENT made the day and year stated in Section 1 of the Schedule Between ____________________ (Company No. __________), a company incorporated in Malaysia and with its registered office at _____________________________________________________ (hereinafter called “the First Party”) of the first part and the person whose name, address and particulars are stated in Section 2 of the Schedule (hereinafter called “the Second Party”) of the third part and [Company Name] (Company No. ) , a company incorporated in Malaysia with its registered office at [Address] (hereinafter called “the Proprietor”) of the fourth part.
WHEREAS by a Sale and Purchase Agreement dated the day and year stated in Section 4 of the Schedule (hereinafter called “the Principle Agreement”) made between the Vendor of the one part, the Original Purchaser of the second part and the Proprietor of the third part, the Vendor agreed to sell and the Original Purchaser agreed to purchase all that parcel of residential premises, more particularly described in Section 5 of the Schedule in the housing development known as TAMAN ANGSANA (hereinafter called “the said Property”) at the total purchase price as stated in Section 6 of the Schedule (hereinafter called “the Purchase Price”) subject to the terms and conditions therein contained.
WHEREAS this Agreement is supplemental to the Deed of Assignment dated the day and year stated in Section 7 of the Schedule made between the Original Purchaser of the one part and the Second Purchaser of the other part (hereinafter called “the Deed of Assignment”) wherein the Original Purchaser assigned to the Second Purchaser the said Property together with all rights title and interest under the Principle Agreement.
WHEREAS the Vendor and the Proprietor has agreed to the Assignment upon the condition that the Second Purchaser agrees to accept all the rights title and interest of Original Purchaser under the Principle Agreement and undertake to perform and observe all other stipulations covenants and conditions on the part of the Original Purchaser to be performed and observed under the Principle Agreement in lieu of the Original Purchaser for the consideration and on the terms and conditions hereinafter appearing.
WHEREAS the Second Purchaser acknowledge that they has read and understood and have in their possession a copy of the Principle Agreement.
NOW IT IS HEREBY AGREED AS FOLLOW:-
1. In consideration of the Vendor and the Proprietor consenting to the aforesaid Assignment, the Second Purchaser hereby assumes all liability and responsibility and undertakes to carry out, discharge, observe, perform and be bound by all whatsoever agreements, conditions, covenants, liabilities, stipulations and terms on the part of the Original Purchaser contained and expressed in the Principle Agreement in every way as if the Second Purchaser were a party to the Principle Agreement in lieu of the Original Purchaser, in particular, the payment of service charges and other payments to the Vendor under the Principle Agreement.
2. The Original Purchaser hereby expressly agrees and confirms that henceforth they shall have no rights title interest estate benefit advantage claim and demand whatsoever in and to the Principle Agreement or in respect of the said property and shall make no claim whatsoever in respect thereof.
3. The Original Purchaser and the Second Purchaser jointly and severally undertake to indemnify and compensate and keep the Vendor and the Proprietor fully indemnified against all claims, demands, actions, proceedings, costs, expenses, damages losses whatsoever arising from the aforesaid Assignment.
4. The Original Purchaser and the Second Purchaser shall be jointly and severally liable for all costs disbursement and stamp duties in respect of this Agreement including the legal fees and disbursement incurred by the Vendor.
5. The Vendor and the Proprietor shall not in any way be bound by or liable for the contents of the Deed of Assignment notwithstanding the endorsement of the same by the Vendor and the Proprietor.
6. The expression “the Original Purchaser”, “the Second Purchaser”, “the Vendor” and “the Proprietor” include the respective successors personal representatives and assigns of the Original Purchaser, the Second Purchaser, the Vendor and the Proprietor and where two (2) or more persons are included I n any of the aforesaid expression this Novation Agreement binds such persons jointly and severally.
7. Words importing only the masculine gender shall be deemed and taken to include the feminine and neuter genders and vice versa.
8. Words importing only the singular number shall be deemed and taken to include the plural and vice versa; and
9. Words applicable to human beings shall be deemed and taken to include any body of person corporate or unincorporated.
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IN WITNESS WHEREOF, the parties hereto have hereunto set their hands the day and year first above written.
SIGNED by )
For and on behalf of )
[Company Name] )
[Company No. ] )
in the presence of:- )
………………………………….
SIGNED by the Original Purchaser )
[Company Name] )
[Name] )
[NRIC NO. ] )
in the presence of:- )
………………………………….
SIGNED by the Second Purchaser )
[Company Name] )
[NRIC NO. ] )
in the presence of:- )
………………………………….
SIGNED by )
For and on behalf of )
[Company Name] )
[Company No. ] )
in the presence of:- )
………………………………….
THE SCHEDULE ABOVE REFERRED TO
Section
Item
Particulars
1.
The date of this Agreement
2.
Name, Address and Particulars of the Original Purchaser
[Name of Purchaser] (NRIC No. ) of No. [Address]
3.
Name, Address and Particulars of the Second Purchaser
[Name of Purchaser] (NRIC No. ) of No. [Address]
4.
Date of the Principle Agreement
5.
Description of the said Property
6.
The Purchase Price
Ringgit Malaysia [Amount in words] [Insert Amount]
7.
Date of the Deed of Assignment
