CONSTRUCTION
AGREEMENT- CO-OPERATIVE SOCIETY
AND BUILDER [CD1]
This Agreement made this
…………day between …………….................a partnership firm trading at
..............................(after it
referred to as the builder including its present and future partners, their
successors, executors, administrators and assigns) of the One Part and Mr.
…………………………. resident and owner of ................................. (after it
referred to as the chief promoter including his heirs and assigns) of the Other
Part.
Whereas
builder is
a partnership
firm doing
construction of buildings.
And whereas the said Mr.
…………………………………..… being chief promoter of …. Cooperative Housing Society
Limited, as registered under the …………………………………………… Act …………….. containing the
proposed buyers of flats of the building to be built on the plot at
........................................................ (after it referred to
as said society).
And whereas members of said society
wants of entrusting the work of building and erection thereof on plot
............................. on consented terms/conditions.
Now this Agreement
witnesses and the parties consent
as below:
1. The
builder wants to buy the plot of land at ..............................
measuring 6 cottahs and after it to assign it favouring the Society.
2. The
society accepting Certificate of title given to builder by Mr………………………………. ….
Advocate effecting that title of property being marketable, free from all
encumbrances and reasoned doubts and no requisitions/objection made by society
concerning title.
3. The
chief promoter shall get registration ………………………………………………………. Act …………..….
4. Chief
promoter on its registration will apply for monetary help per loan to
……………………………………………………………….. (after it referred to as 'Federation') for minimum
………. of approximate cost of land
with construction
cost of building.
5. said
Federation is being Negotiated and it is hoped that …………..minimum of total
finance needed by society will be allowed per loan by said Federation by
mortgaging the land with depositing title deeds.
6. The
copies of plan, specifications, list of facilities/drawings relating the
building to be built on the plot prepared by
Mr........................................................Architect has been
presented to the builder and the Builder has inspected all documents compulsory
for constructing multi-storeyed building. The builder while given to Society
two sets of plans, specifications, list of facilities/drawings and one set
whereof is returned signed by the chief promoter. The builder shall present to the
……………………………………
Municipal
Corporation required plans for being
sanctioned.
7. The
builder will buy the land measuring ………………..…………… and the builder shall build
for society according to sanctioned or approved plans, specification, amenities
and drawings a …………………………… building with parking space on the said plot of
land.
8. The
society will pay to builder for land and for building Rs…………………………. The price
including laying of drainage/water connections to Municipal mains and electric
connections to the ………………….. mains and the given amenities.
9. The
price will be payable to builder per installments as below:
(a)
Rs. 18 lakhs at once on executing agreement
and convincing said society that transfer of said plot of land favouring
Builder's will be executed:
(b)
A subsequent sum of Rs. ………………….…………. will be
paid to Builder on or prior or beginning of building work by builder whichever
is earlier;
(c) A subsequent sum of Rs.
……………………..will be paid to Builder on or before …..day ……..;
(d) Subsequent sum of Rs. ……………………
(which amount when paid will be 50% of the total price of land, building and
garage spaces to be built by builder) will be paid to the Builders on or prior
…..; (e) In addition to sum detailed in
sub-clauses (a), (b), (c) and (d) above, all sums/advances as received by
society from time being from Federation under arrangement with them will be
paid to builder on its received;
(f) The remaining price shall be paid to
builder on completion of building getting completion certificate with
occupation certificate.
10.
(a) defaulting payment of each two of payments referred to in clause 9
above, the builder will bear right to forfeit the sums already paid and the
agreement will be terminated and the chief promoter or the society shall have
nil claim against the builder for specific performance or indemnification or
for damages or otherwise;
(b) If by a year hereof the society is enable entering
into Agreement with T.N. Co-operative Housing Federation Ltd. for getting loans
per advance of 75% of approximate cost of with building cost to be paid
periodically against building work as it proceeds then despite anything herein
contained this Agreement shall stand terminated and no claim for specific
performance, damages, indemnification or otherwise on either side would lie and
the builder shall return to the chief promoter and society the sums already
received after deducting all costs and
expenses incurred within three months.
11.
On receiving Rs- .. per specified installments
the builder will execute favouring society a conveyance of plot of land for Rs.
78 lakhs. All costs/incidentals to conveyance including stamp duty and
registration charges will be borne society. The society will not object and
make no requisitions concerning the builder's title thereto. The builder will
declare them selves not creating any encumbrance on land and charge favouring
of ……………………………………………………………….. on the land will a first charge and
Builder's right over land will be subject to any such
first mortgage favouring the said Federation. Despite the Builder's right in
keeping possession of building to be built until the full amount and all other
moneys due to builder are paid all the Builder's lawful rights under this
Agreement and at law against the Society
would remain unimpaired.
12.
If any alterations are made in plans by
……………………………….. Municipal Corporation/other authority the society shall accept
the same. The builder will not make any future charge on society in accepting
such modifications. All outgoings of all types payable to Coimbatore Municipal
Corporation or any other authority from day of conveyance of land favouring
society will be paid and borne by society and accepting the Builder's invoices
or bills/vouchers and pay the same at once on presentation,
13.
The society shall select Clerk of Works for
supervising construction work. Difference of opinion concerning matter emerging
regarding construction work between such clerk-of-works and Builder will be
decided in accordance with the directions of the said Architect whose decision
shall be final and conclusive and binding on the parties.
14.
The plans, drawings and specifications shall
be and remain the Builder's property until the completion of conveyance
favouring society. If any difference emerges between specifications and plans
or drawings, the specifications shall dominate and considered correct and
binding despite the drawings. The builder hereby consents/undertakes that it
shall remove all surplus material, plant and rubbish from the premises prior
delivering possession of Building and at the Builder's own cost. The builder shall
clean whole site of all materials and level the compound in good order cemented
and/or tiled and usable. The builder will lay the lawns and flower beds and get
the pathway in compound as shown in plans concreted prior delivering
possession. All plant, equipment and materials brought on the premises by the
builder shall be removed at once on completing building work.
15.
The builder hereby consents/binds itself and
its agents that it shall obey the enactments of all Acts, rules/regulations and
bye-laws for time to time enforceable and shall and will give all compulsory
notices to get sanction of local authorities relating construction work and
will obey building and other regulations of such authority. For any such
purposes, the Society's agreement or authority if needed will be promptly
given.
16.
The Builder hereby undertakes that it will
not without the agreement of Society transfer or sub-let the building work or
any portion thereof to any person excepting labour, planning, drainage, water
supply and electric installations.
17.
On any accident or extra work to be done or
change made or Force Major, Acts of Gods, Civil Commotion, disturbance,
conflict of any kind or non-avail ability of materials such as cement, steel,
etc. the Builder will bear right for an increase of time proportionately to
delay made enabling Builder completing constructions. If opinion differ for
increasing time, Architect will calculate time of delay and increase of time
for completing construction.
18.
The Builder during period of construction
retain all its labour/supervisory staff duly insured against all risks for
workmen's compensation.
19.
The Society will pay directly to
…………………………Municipal Corporation any amount payable towards consumption of water
by Society after building is occupied and pay the……………………for consumption of
power.
20.
The Society/its Architect will inspect the
building to be built by Builder from time to time during the time of
construction and after receiving notice of completion. Any
requisition/objection relating building work and/or if it has been done
according with this Agreement shall be intimated to Builder by …………….days of
receipt of notice of completion and/or inspection whichever is later. If no
requisition made or objection taken by said period of ……..days, right of
requisitioning or objecting will cease and ail objections shall be considered
to have been waived. Nothing herein contained shall give right to society in
delaying or deferring payments to Builder of remaining moneys due to the
builder and the same shall be paid on the due dates therefor.
21.
The society on it is registered
unde…………………………………………………….ratify this Agreement and if so needed by builder will
at its own cost execute proper documents to confirm and comply terms
/conditions
and other
specification herein contained according to
law.
22.
All controversies, differences emerging
during this Agreement or after it between or among Builder, the society, the
chief promoter/Chief Promoter's agent touching or concerning the Agreement
between builder and chief promoter and/or the society or the construction or
application thereof or any clause or thing in this agreement contained or as to
any act, deed or omission of any party in any way concerning to this Agreement
or the rights, duties or responsibilities of any party under this Agreement
shall be decided through the arbitration under the Arbitration and Conciliation
Act 1996 and if any controversies emerges after the registration of the said
society, such controversies shall be referred to Registrar of
…………………………………………………………………………………………………………………………………………...
The First Schedule
Gr. Floor 1st Floor 2nd Floor 3rd Floor
4th Floor
The Second Schedule
Payment of amounts on following
dates:
On signing of Agreement Rs.......
....................................Rs.
.
....................................Rs.
....................................Rs.
Amounts to be received from
Housing Federation Ltd. Rs.
In witness whereof the parties hereto
have executed these presents on the day, month and year first hereinabove
written.
Signed, sealed and delivered by Mr.
………………………..................pursuant to Board Resolution of Builders Limited
dated .............in the presence of:
Signature
1. ....................
2.......................
Signed
Signature
1. ....................
2.......................
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