1. The owners will build the building on the land in question in accordance with the plans, drawings, specifications and surveys, as established by the architect attached here and identified as Annex A, with the material of the highest quality and in the most essential and similar way to the worker and the satisfaction of the architect. CONSIDERING that the first part is the owner of the land admeasuring………………. no……….. City survey no………………. Khasra No…………… lie, lie down and ……………… Tahsil and district……………. (hereafter referred to as “land in question” and wants to build a house on the land in question. 3. If the owners do not complete this work within the time frame set out in the above provision, the owners pay on the owner`s choice, but without prejudice to the other legal rights of the owner and other provisions of the owner, damages liquidated to the tune of Rs………. per day (but subject to a ceiling of 2% of the total amount of the contract payable by the owner under this agreement) for the period between the specified period for completion of the work.
The owners expressly agree and authorize the owner to deduct, if necessary, from such liquidated damages from a staggered payment due and to pay to the owners within the meaning of this agreement. 4. The owner pays the builders a sum of Rs…………. whose owner pays each week to the owners the amount that can be sufficient to cover the costs incurred by the owners for the materials used in the works, verified and certified by the architect, Rs…… on the architect`s certificate that the work is completed up to the first floor, the additional sum of Rs ………… on the architect`s certification that the work is completed and that the balance must be paid on the architect`s certificate, that the above works have been completed in all respects in accordance with the agreement and that the owners have, at their own expense, removed all scaffolding, fencing, materials and unused waste from the premises and managed the bungalow for immediate use and use and management.