Cost Plus - Residential

FINANCE AVAILABLE:

Owner:

$___________________________________

# To be advanced on mortgage by: Lending Institution:

$___________________________________

## TOTAL FINANCE AVAILABLE: $___________________________________

# It is critically important that the amount detailed above is actually available to carry out the work. ## The above amount should not be limited to the estimated amount identified under Clause 30 .

IT IS AGREED THAT:

IT IS AGREED THAT:

(1) The Builder will subject to the contract terms and conditions, for the cost of the works (see Schedule 1, Part A ) plus the fees payable under the contract (see Schedule 1, Part B ), properly treated for GST complete the works shown upon the Drawings and described in the Specification. The works may be adjusted under the contract.

(2) The Owner will pay to the Builder the cost of the works plus the fee payable under the contract and the GST consequences of the work, at the times and in the manner required by the contract.

(3) (i) The Owner acknowledges and understands that the total cost of the works, including the fee payable to the Builder and the GST payable on the works is not known or ascertainable as at the date of this contract.

(ii) The Owner acknowledges and understands that the work done and completed and the materials used directly affect the question of costs payable by the Owner .

(iii) The Owner has read and understood the warning as to Cost Plus Contracts, which appears at the front of this document. SIGNED by the BUILDER: AMPLE (iv) The Owner is liable to pay for the proper consequences of the tax commonly known as the GST referable to the work carried out by the Builder under this contract. The parties sign below, this day of 20 , to confirm their acceptance of this agreement. SIGNED by the OWNER(S):

RESIDENTIAL BUILDING CONTRACT COST PLUS - MARCH 2015 - NEW SOUTH WALES 3