Building Contract Memorandum Of Agreement And Conditions Of Contract (Page 5 of 8) in pdf

Building Contract Memorandum Of Agreement And Conditions Of Contract Page 5

Page 5.

11. COSTS

The OWNER is responsible for the following costs:

11.1 Interim interest on money drawn from the mortgage bond (if applicable).

11.2 Insurance costs over the completed home from the COMPLETION DATE.

12. MAINTENANCE PERIOD

12.1 Provided the OWNER has settled his account in full or has made

arrangements, acceptable to the BUILDER, for the settlement of his

account, the BUILDER:

12.1.1 undertakes to repair any roof leaks occuring within 12

(twelve) months after the COMPLETION DATE.

12.1.2 undertakes to repair any material or latent defects resulting

from defective workmanship and arising within a period of 90

(ninety) days from the COMPLETION DATE.

12.2 The BUILDER shall only be obliged to make one visit to undertake the

said maintenance and the OWNER shall prepare a list(s) of items

requiring attention at the expiry of the 90 (ninety) day period which will be

repaired at the discretion of the BUILDER within a reasonable period of

being advised of such defects.

12.3 Where the list(s) of items requiring attention is not delivered to the

BUILDER within 100 (one hundred) days of the COMPLETION DATE, the

BUILDER shall have no obligation to rectify such items.

13. SUSPENSIVE CONDITIONS

13.1 This contract is entered into subject to the following conditions being met

13.1.1 the fulfilment of all suspensive conditions in the agreement

of sale concluded with the OWNER in respect of the

PROPERTY (if applicable) ;

13.1.2 the registration of the mortgage bond referred to in the

deed of sale of the PROPERTY (if applicable);

13.1.3 the approval of working drawings by the local authority;

13.1.4 the provision of SERVICES.

Building Contract Memorandum Of Agreement And Conditions Of Contract Page 5