The kssee who fails to exercise option under rule 11~A muy also at any time during the period of lease apply fcr hire purchase of sheds under tule |] above. In this case no credit of lease money already paid shall be given.
12: Allotment of shed on out-right sale basis :— Allotment of shed on out-right sale basis shall be on the following terms and conditions :— (ii The cost of shed at is arrived at by the Cerporation in the manner perscribed in the schedule shall be paid by the allottee within 2 months from the date of demand made by the Corporation,
(ii) The shed shall be used for setting and running ofa small scale industry for which it is allot ted and for no other purpose, 1547
(iii) The production in the shed shall be started within a period of six months from the date on which possession is delivered. The Corporation may however at its option extend the time limit upto a maximum period of three months for reasons to be recorded in writing.
(iv) Additions and alterations, if any, may be made within the shed by the allottee at his cost with the prior permission of the Corporation in writing.
(v) In case the allottee suspends or closes running of the industry in the shed at any time for a period exceeding six months it shall be treated as a breach of the terms and conditions of allotment of sheds,
(vi) Incase any default is made by the allottee in respect of anyof the terms and conditions aforesaid, the said plot of land shall revert to the Corporation and the allottee shall have to remove therefrom at his cost all the buildings and structures constructed by him thereon. In casc of his failure to do so, the Corporation shall have a tight to dispose of the said structures and building in any way it likes and to refund the proceeds te the allottee after recovering all the sums due to it from the allottee.
(vii) The allottee shall not subject, underlet or otherwise alienate or transfer or part with the possession of the shed or any right or interest therein, except as provided hereunder :—
1. the shed can be transferred within a period of ten years from the date of allotment with the prior approval of the Corporation in writing and on payment in lump sum of twice the cost of the shed or the market value of the shed (to be determined in consultation with the State Public Works Department, or any other appropriate authority of the Government), whichever is higher. The cost already paid will be adjusted against this amount.
2. The shed can be transferred with the written permission of the Corporation after the full payment for it has been made and it has been utilised for the puspose for which it was alloted.