Explanatory Notes: A good template of power of attorney on joint venture arrangements.
POWER OF ATTORNEY
THIS POWER OF ATTORNEY is given the day of 20
by (NRIC No. ) of
(hereinafter called “the Donor”).
RECITALS
1. The Donor is the registered owner of all that piece of land known as
(hereinafter referred to as “the Land”).
2. By a Joint Venture Agreement dated the day of 20 (hereinafter referred to as “the said Agreement”) made between the Donor of the one part and
(hereinafter called “the Donee”) of the other part, the Donor has agreed to develop the Land (hereinafter referred to as “the Development”) upon the terms and conditions therein contained.
2. Pursuant to the said Agreement, the Donor have agreed to appoint the Donee as the Donor’s attorney for and on the Donor’s behalf to carry out and effect any of the following powers and duties herein stipulated.
NOW THIS INSTRUMENT WITNESSETH as follows:-
1. That in consideration of the sum of Ringgit Malaysia (RM ) only (the receipt whereof the Donor hereby acknowledges), the Donor hereby appoints the Donee to be the lawful attorney for and in the name of and on behalf of the Donor or otherwise in the name of the Donor to do and execute all or any of the acts, deeds and things hereinafter mentioned as and when the Donee shall think fit in relation to the Land:-
a. to execute, sign, initial liaise and do any thing that is necessary on behalf of the Donor for the presentation, approval and/or withdrawal of all or any of the layout, building or any other plans in accordance with the requirements of all or any governmental authorities for the construction and completion of buildings and infrastructure and all incidentals thereto in respect of the development of the Land or part thereof;
b. to prepare apply and submit to the relevant governmental authority (including Majlis Perbandaran) any conversion, layout, building, amalgamation and/or subdivision plans and any other plans necessary for the development of the Land;
c. to apply to the relevant authority for conversion of land use and/or zoning of the Land for residential and/or commercial and/or industrial use and purposes and/or any other use and purposes as the Donee shall deem fit;
d. to appear before any governmental authority in respect of the development of the Land;
e. to engage any consultants including engineers, architects, surveyors and other consultants (if necessary) to be appointed/appointed for the development of the Land;
f. to negotiate with the existing tenants, occupiers and/or squatters of the Land for the purpose of removing such tenants, occupiers and/or squatters from the Land and to do all acts deeds matters and things whatsoever connected with and in relation to the securing of vacant possession of the Land;
g. to appoint and to remove from time to time at the Donee’s sole and absolute discretion any substitute for or agent under the Donee in respect of all or any of the matters aforesaid upon such terms as the Donee may think fit;
h. from time to time to fell or cut down any wood or under wood timber or other trees standing or being on the Land and hereditaments as the Donee shall see fit and the same to sell and dispose of or allow to be used for repairs or otherwise in or about the Land and to work old mines and quarries or open and work new ones and dig minerals on the Land and to repair and uphold or to take down and rebuild or otherwise improve or alter and to insure any house edifices or buildings in and about the Land;
i. in general to do all other acts deeds matters and things whatsoever in or about the development of the Land which the Donee may think fit as the Donor could do if personally present;
j. to receive all notices letters and/or any other documents which may be sent to the Donor by the relevant authorities in respect of the aforesaid application plans or documents submitted by the Donee hereunder;
k. to assent or appeal if the Donee so deem fit to any amendments and/or variations made by the relevant authorities to the plans drawings and/or applications submitted by the Donee hereunder;
l. to assent and consent to any and all applications by the Donee for any licences, approvals and or permits related to or in connection with the development of the Land including but not limited to the Donee’s application for the Housing Developer’s licence and advertising permit from the appropriate ministry of the Government of Malaysia;
m. to sell and dispose of the individual unit under the Development to any third party;
n. to sign and execute on the Donor’s behalf a Sale and Purchase Agreement enter between the Donee and the individual Purchaser under the Development.
PROVIDED ALWAYS the Donee shall keep the Donor indemnified against any expense, loss and damage that may arise as a result of the Donor granting to the Donee this Power of Attorney or as a consequence of the exercise of any of the powers referred to above.
2. This Power of Attorney is given for valuable consideration and the Donor declares that this Power of Attorney is irrevocable from the date hereof and the Donor intends that this Power of Attorney shall not be revoked by the appointment of receiver, receiver and manager, or liquidator to take over or winding-up of the Donor and neither shall this Power of Attorney be revoked so long as the interest of the Donor, its nominee(s) and/or assignee(s) with respect to the Land still subsists and so long as the Donee observes the terms of the said Agreement.
3. All costs and expenses pertaining to arising from and/or incidental to the exercise by the Donee of any of the powers conferred on the Donee herein shall be borne and paid by the Donee absolutely.
4. And the Donor hereby agrees undertakes and covenants to ratify and confirm whatsoever thing the Donee or agent or agents appointed by the Donee lawfully do or cause to be done in or concerning the premises by virtue of this Power of Attorney.
5. For the better doing performing and executing of the matters and things aforesaid hereby further grant unto the Donee full power and authority to substitute and appoint in its place and stead on such terms and at such salary as it shall think fit one or more Attorney or Attorneys and or all the powers and authorities hereby conferred and to revoke any such appointment from time to time and to substitute or appoint any other or others in the place of such Attorney or Attorneys as the Donee shall from time to time think fit.
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IN WITNESS WHEREOF the Donor has hereunto set its hands and seal the day and year first above written.
SIGNED by )
)
in the presence of :- )
AUTHENTICATION CLAUSE
I, , an Advocate and Solicitor of the High Court in Malaya practising at hereby certify that the signature of the Vendor abovenamed was written in my presence on this day of 20 and according to my personal knowledge the true signature of (the Donor) who has acknowledged to me that he is of full age and that he has voluntarily executed this instrument.
As witness my hand on this day of 20 .
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