Building Contract Memorandum Of Agreement And Conditions Of Contract (Page 4 of 8) in pdf

Building Contract Memorandum Of Agreement And Conditions Of Contract Page 4

Page 4.

6.2

Take out all risk insurance in respect of the building of the home from the

commencement of building operations until the COMPLETION DATE.

OCCUPATION

7.1

Occupation of the home shall be given on the ANTICIPATED

OCCUPATION DATE.

7.2

In the event that the BUILDER is unable to provide occupation on the

ANTICIPATED OCCUPATION DATE, he shall be entitled to extend such

date for a period of up to one (1) month by giving the OWNER at least

fourteen (14) days written notice of the new

ANTICIPATED

OCCUPATION DATE.

7.3

From the COMPLETION DATE the home shall be at the OWNER'S sole

risk and benefit.

7.4

Where registration has not been effected before occupation of the home

the OWNER shall pay monthly in advance occupational interest of 1% of

the PROPERTY and contract sum to the Seller and BUILDER

respectively. The OWNER shall however be obliged to refund a pro rata

share thereof where the outstanding amount is settled during the month.

EXTRA WORKS

In the event that any mortgagee or the local authority or the OWNER or any

other body or party at any time for any reason, whether before, during or after

the construction of the home requires any alteration, variation or amendment to

the building plans and/or specifications involving the BUILDER in any additional

expense, then the cost of complying with the alteration, variation or amendment

shall be borne and paid for by the OWNER. Where additional work or expense

is incurred by the BUILDER due to the above or to soil or site conditions

discovered after commencement of construction, the extra costs arising from

such work or expense shall also be paid by the OWNER. All amounts payable

in terms hereof shall be payable on demand.

OWNERS VARIATION ORDERS

Variation orders requested by the OWNER shall be of no effect unless reduced

to writing. The costs of these variation orders shall be paid in cash at the time of

signing thereof.

10. INSTRUCTIONS

The OWNER shall not have the right, either personally or through an agent, to

issue instructions directly to the BUILDER's workmen or any other party

engaged in the construction.

Building Contract Memorandum Of Agreement And Conditions Of Contract Page 4