(k)The bid money shall be payable in advance in [two instalments] [Substituted by S.R.O.No. 648/99 vide Orissa Gazette Extraordinary No. 1183, Dated, 16.8.1999.]. The first instalment [which shall not be less than seventy-five per cent of the bid money] [Inserted by S.R.O.No. 648/99 vide Orissa Gazette Extraordinary No. 1183, Dated, 16.8.1999.] shall be paid before execution of the agreement and the subsequent instalments shall be paid in accordance with the agreement. The amount of each instalment and the period to which it relates shall be mentioned in the agreement. If any instalment is not paid by the due date the Secretary of the Grama Panchayat shall forthwith bring it to the notice of the Grama Panchayat who shall terminate the lease and move the Block Development Officer for re-auction. The Block Development Officer thereupon shall hold the re-auction within thirty days in the manner prescribed for auction under this rule.
