And whereas the members of the said SOCIETY are desirous of entrusting the task of construction and erection of a building on the plot …………… ………… on agreed terms and conditions.
Now this agreement witnesseth and the parties agree as follows:
1. The BUILDER intends to purchase the plot of land at ………………… ……… measuring 6 cottahs and thereafter to transfer it in favour of the SOCIETY.
3. The chief promoter shall cause registration of the SOCIETY under the West Bengal Co-operative Societies Act 1983.
4. On its registration the chief promoter will apply for financial assistance by way of loan to the West Bengal Co-operative Housing Federation Ltd. (hereinafter referred to as ‘Federation’) for at least 75% of the estimated cost of the land and construction cost of the building.
5. Negotiation with the said Federation is already in progress and it is expected that 75% at least of the total finance required by the SOCIETY will be granted by way of loan by the said Federation on mortgage of the land by deposit of title deeds.
7. The BUILDER will purchase the land measuring 6 cottahs and the BUILDER shall construct for the SOCIETY according to the sanctioned or approved plans, specification, amenities and drawings a five-storeyed building with parking space on the said plot of land.
(b) A further sum of Rs. 18 lakhs will be paid to the BUILDER on or before 5th October 2000 or on commencement of construction work by the BUILDER whichever is earlier;
(c) A further sum of Rs. 1.5 lakhs will be paid to the BUILDER on or before 5th day of January 2001;
(d) As to a further sum of Rs. 1.5 lakhs (which sum when paid will be 50% of the total price of land, building and garage spaces to be constructed by the BUILDER) will be paid to the BUILDERs on or before 5th April 2001;
(f) The balance price will be paid to the BUILDER on completion of the construction of the building on obtaining completion certificate and occupation certificate.
10. (a) In default of payment of any two of the payments referred to in clause 9 above, the BUILDER will be entitled to forfeit the sums already paid and the agreement will be terminated and the chief promoter or the SOCIETY shall have no claim against the BUILDER for specific performance or for compensation or for damages or otherwise;
12. If any alterations are made in the plans at the instance of the Calcutta Municipal Corporation or any other authority the SOCIETY shall accept the same. The BUILDER will also not make any further charge on the SOCIETY on acceptance of such alterations. All outgoings of all kinds payable to the Calcutta Municipal Corporation or any other authority as from the day the land is conveyed in favour of the SOCIETY will be borne and paid by the SOCIETY and it shall accept the BUILDER’s invoices or bills or vouchers and pay the same forthwith on presentation.
13. The SOCIETY shall engage and appoint Clerk of Works for the supervision of the construction work. Any difference of opinion as regards any matter arising in connection with the construction work between such clerk-of-works and the 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.
15. The BUILDER hereby agrees and binds itself and its agents that it shall conform to the provisions of all Acts, rules and regulations and bye-laws for the time being in force and shall and will give all necessary notices to obtain sanction of the local authorities in respect of the construction work and generally will comply with the building and other regulations of such authority. For any such purposes, the Society’s consent or authority if required will be promptly given.
16. The Builder hereby undertakes that it will not without the consent of the Society assign or sub-let the work of building or construction or any part thereof to any person except labour, planning, drainage, water supply and electric installations.
18. The Builder shall at all times during the period of construction keep all its labour and supervisory staff duly insured against all risks for workmen’s compensation.
19. The Society will pay directly to Calcutta Municipal Corporation any amount that has to be paid towards consumption of water by the Society after the building is occupied and pay the CESC Limited for consumption of power.
20. The Society and its Architect will be entitled to inspect the building to be constructed by the Builder from time to time during the period of construction and after receipt of notice of completion. Any requisition or objection in respect of the construction work and/or whether it has been carried out in accordance with this agreement shall be taken and intimated to the Builder within 30 days of receipt of notice of completion and/or inspection whichever is later. If no requisition is made or objection taken within the said period of 30 days, the right to make requisition or take objections will cease and all objections shall be deemed to have been waived. Nothing herein contained shall however entitle the SOCIETY to delay or defer payments to the Builder of the balance of the moneys due to the BUILDER and the same shall be paid on the due dates therefor.
21. The SOCIETY shall as soon as it is registered under the West Bengal Co-operative Societies Act 1983 ratify this Agreement and if so required by the BUILDER will at its own cost execute proper documents to confirm and carry out the terms and conditions and other stipulations herein contained in conformity with the law.
