(1) Allotment of a site, including a corner site, godown, shop or shop-cum-godown made by the market committee on lease-cum-sale shall be subject to the approval of the Director of Agricultural marketing and shall also be subject to the following conditions namely:-
(i) The allottee shall pay to the Market Committee the balance amount of the value of the site, godown, shop or shop-cum-godown after deducting the amount already paid under sub-rule (3) of rule 3 within a period of 90 days from the date of receipt of order of allotment. If the said value is not paid within a period of 90 days, further extension of time for a period not exceeding 60 days may be given by the market committee and the allottee shall pay, in addition, interest at the rate of twelve percent per annum on the said amount for the extended period.
(ii) After payment of the value under clause(i) is made, the Market Committee shall call upon the allottee in writing to execute an agreement in Form IV in case of site and in Form V in case of shop or shop-cum-godown or godown and get it registered. If the agreement is not executed within 45 days after the market committee has called upon the allottee to execute such agreement, the registration fee paid by the allottee shall be forfeited and the allotment be cancelled and the amount paid by the allottee under sub-rule(3) of rule 3, after deducting such expenditure that might have been incurred by the Market Committee, be refunded to him.
(iii) Until the site, godown, shop or shop-cum-godown is conveyed to the allottee, the amount paid by the allottee for such allotment shall be held by the Market Committee as security deposit (without any interest thereon) for the due performance of the terms and conditions of the allotment and the lease-cum-sale agreement entered into between the Market Committee and the allottee.
(iv) In case of allotment of site, the allottee shall construct a godown or shop or shop-cum-godown within a period of one year or within such extended period, not exceeding One year as may be granted by the Market Committee.
(v) Every allottee shall not alienate the site, godown or shop or shopcum-godown on the site in accordance with the plans and designs approved by the Market Committee.
(vi) The allottee shall not alienate the site, godown or shop or shopcum-godown within a period of ten years from the date of allotment except by way of mortgage in favour of Government of India, Government of Karnataka or its undertakings, Life Insurance Corporation of India, Corporate bodies or Banks to secure loan, subject to the prior permission of and terms and conditions imposed by the Market Committee.
(vii) On the expiry of the period of ten years from the date of execution of lease-cum-sale agreement and if the allotment has not been cancelled or the lease is not determined, the Market Committee shall by notice, call upon the allottee to get the sale deed executed at his own cost within the time specified in the said notice.
(viii) With effect from the date of taking possession of the allotted property, the allottee shall be liable to pay the taxes, fees and cesses payable in respect of the property.
(ix) Where allotment is made in favour of a partnership firm, any change in the constitution of the firm shall be brought to the notice of the Market Committee. If the Market Committee, after such enquiry as it deems fit, decides that the change in the constitution of the firm results in transfer of shop or godown or shop-cumgodown or any interest there in by all or any one of the partners no such transfer shall take place without complying with rule 12.
Explanation: For the purpose of this clause and sub-rule (3) of rule 16, there is a change in the constitution of the firm if, one or more of the partners cease to be partners or one or more new partners are admitted, in such circumstances that the persons who were partners of the firm before the change do not continue as partner or partners after the change.