This agreement is made on this 20th day of April 2001 between Iqbal Ahmad s/o Rais Ahmad r/o Narahi Kanpur hereinafter described as “owner” and Mahesh Prasad s/o Prabhu Nath r/o 6, Vivekpuri Kanpur hereinafter described as “builder” which expression shall include the heirs, successors, executors and the administrators of the respective parties.
Whereas the owner has purchased a plot of land measuring two hundred square meters bearing No. 145 in the municipal records located in Mohalla Arya Nagar Kanpur and has been looking for a competent person for construction of a house thereon on contract basis.
ADVERTISEMENTS:
And whereas the builder agreed to undertake the construction work on contract for the owner.
And whereas the parties hereto agreed to enter into an agreement detailing the terms and conditions on which the work has to be done.
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This deed of therefore witnesses as under :
1. That the owner has obtained sanction of the plan according to which the house has to be constructed and specification have been provided thereof in the Schedule A annexed hereto.
ADVERTISEMENTS:
2. That the builder has agreed to construct the house strictly according to sanctioned plan and specification.
3. That the material to used in the construction of the house has been specified in the Schedule A above mentioned.
4. That the construction shall be completed within 6 months of the date of execution of this deed or from the date of handing over of possession of the said plot of land to the builder which ever is later.
5. That the 50% of estimated investment made by the builder in the construction of the house shall be paid to him by the owner every neck on each Monday and the remaining amount shall be paid to him on submission of final bill.
ADVERTISEMENTS:
6. That entire construction shall be carried out as per sanctioned plan and specification given in the schedule.
In witness whereof the parties hereto have put their hands to this deed on the date aforementioned in presence of following witnesses.
Signature of witnesses
1. …………………..
2. …………………..
Signature of parties
1. Owner…………………..
2. Builder…………………..