“additional time” means the time from the day after the promised period of time until the date on which we complete your home.
“complete your home” means reaching practical completion under this building contract.
“construction loan repayments” means the portion of your overall loan repayments to the funder but only for the construction of the dwelling, and not for your land purchase.
“promised period of time” means:
180 working days for a single-story dwelling
240 working days for a single-story dual occupancy dwelling
240 working days for a double-story dwelling
240 working days for all duplexes
* The duration of construction may vary depending on the design and type of house selected. For specific details regarding the timeline of your build, please refer to the terms outlined in your build contract.
The Build Period Guarantee is made subject to the following terms and conditions:
The design of the dwelling must be a standard design from Eternal Homes
The promised period of time shall be extended for all:
o periods of late payments on progress payments.
o variations that will cause a time delay; and
o extensions of time permitted under the building contract; and
o any other delays outside the control of the builder, including but not limited to the supply of materials and tradespeople
In order to calculate the construction loan repayments, you must provide all information and documentation reasonably required by the builder, including but not limited to your loan statements and the loan approval letter indicating the loan split between land and build The promised period of time commences in accordance with the terms of this building contract, that is, 20 business days after the builder receives all required documents from you In the event that you breach the build contract in any way, this Build Period Guarantee shall be rendered void and unenforceable
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using 'Content here, content here', making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for 'lorem ipsum' will uncover many web sites still in their infancy. Various versions have evolved over the years, sometimes by accident, sometimes on purpose (injected humour and the like).
