Kind Attention Auditor PMC(True Waves Associates) Lawyer Owner Correction ARTICLES OF AGREEMENT

THIS AGREEMENT made at Chennai on this BETWEEN

AAA College of Engineering & Technology, having its registered office at 74A, Velayutham Road, Sivakasi 626 123 hereinafter referred to as CLIENT

Day of

2011.

which term shall which term shall mean and include their assigns legal representatives, successor in interest of the ONE PART AND Consolidated Construction Consortium Limited, a company incorporated under the Companies Act 1956, having its registered office at No 5, IInd Link Street, C.I.T. Colony, Mylapore, Chennai 600 004 hereinafter referred to as CONTRACTOR which term shall mean and include their assigns legal representatives, successor in interest of the OTHER PART. WHEREAS the CLIENT is desirous of proposed a Engineering College hereinafter called as the WORKS and has caused the Bill of Quantities showing and describing the WORK to be executed. AND WHEREAS CONTRACTOR in this regard has submitted to the CLIENT their Priced Bill of Quantities vide their letter Ref: CCCL\T: 3252 dated 13th May 2011 AND WHEREAS, the CLIENT after having had negotiations with CONTRACTOR on the rates and the terms and conditions with respect to the WORK, CONTRACTOR has submitted to the CLIENT their Final Priced Bill of Quantities vide their mail dated 17th June 2011. After considering the price the CLIENT has conveyed their acceptance of the rates and has placed their confirmation on prices submitted by CONTRACTOR dated 18th June 2011. NOW THEREFORE THIS DEED OF AGREEMENT WITNESSETH AS FOLLOWS.

1. Type of Contract This is an Item Rate Contract. 2. Scope of work The scope of WORK and the Contract value shall be as per details enclosed hereto referred as Annexure 1 (Bill of Quantities). Cont 2 3. Contract Documents The following documents shall be deemed to form and be read and construed as part of this Agreement, viz. 1. Annexure 1: Bill of Quantities 2. CCCL Offer submitted vide letter dated 13th May 2011 bearing reference CCCL\T:3252 3. CCCL Offer submitted vide letter dated 20th May 2011 bearing reference CCCL\T:3252-1 4. AAA College - Letter of intent dated 20th May 2011 bearing reference 002/11-12 5. CCCL Offer letter dated 25th May 2011 bearing reference CCCL\T:3252-2 6. CCCL Offer submitted vide letter dated 04th June 2011 bearing reference CCCL\T:3252-3 7. CCCL Offer submitted vide letter dated 10th June 2011 bearing reference CCCL\T:3252-4 9. CCCL Offer Letter dated 16th June 2011 bearing reference CCCL\T:32525 8. CCCL Consolidated final Boq offer mail dated 17th June 2011 10. AAA College letter dated on 18th June 2011 bearing reference Ref: 009/ 11-12 11. CCCL Offer Letter dated 21st June 2011 bearing reference CCCL\T:3252-6 AND All other correspondences between the parties w.r.t WORKS 4. Time of Completion CONTRACTOR shall endeavor to complete the WORK as per the schedule give by CCCL , according to CLIENT/PMC priority subject to receipt of approved Good For Construction drawings from the CLIENT/PMC within the time frame agreed. Effective date of Commencement shall be the later date of the following: 15 Days from Letter of Intent

3
Payment of Mobilisation Advance

Handing over of site Issue of detailed working drawings Issue of Sufficient Quantity of Client material for the above (if applicable) The duration from the effective date of commencement shall be maintained subject to release of work fronts as agreed in the progress chart and making bill certification and effecting payments on the scheduled time. 5. Variation in Contract Prices The CONTRACTOR has quoted unit rates for the entire scope of work covered in CLIENTs Bill of Quantities. Any variation in CONTRACTOR scope of work beyond a limit of +/-10% CONTRACTOR shall reconfirm the prices. 6. Taxes and Duties The Contract value shown in enclosed Priced Bill of Quantities (Annexure1) is inclusive of VAT at prevailing rates but exclusive of Service tax and labour cess. Service tax and Labour cess shall be paid to the CONTRACTOR extra over and above the contractors quoted unit rates. Any construction materials supplied by CLIENT as a free issue also attracts Service tax. Hence, the CLIENT shall pay the CONTRACTOR 4.12% extra over client supply material component if applicable. Any introduction of new taxes, change in the rates of taxes or in the method of computation in the tax liability at the time of award of the tender or during the performance of the job awarded would be on CLIENTs account. 7. Mobilization Advance CLIENT shall pay to CONTRACTOR an interest-free mobilization advance of 10% of Contract Value i.e., Rs. 86,25,181/- (Rupees Eighty Six Lakhs Twenty Five Thousand one Hundred and Eighty One only) against a Corporate Guarantee. This advance shall be recovered from CONTRACTOR's progress 2 nd Running Account Bill on pro-rata basis till the total advance is recovered. 8. Payment of Bills 1. Running Account Bills will be raised by the CONTRACTOR once in a month respective of value of work done.

4 2. CLIENT shall pay 75% of the Running Account Bills amount within 7 days and balance after certification of bill by PMC within 15 days from the date of submission of Running Account bill. 9. Retention Amount The CONTRACTOR shall submit 5% of contract value as Retention Amount in the form of Corporate Guarantee valid up to the end of Defect liability period of 12 months. 10. Final Bill CONTRACTOR's final bill shall be settled in full by the CLIENT within one month from the date of certification of bill by PMC submission of the same.
11. Basic Prices

The following items are covered for escalation. 1. Cement (Any grade / Any brand / any type) :RS. 270 / Bag (50 Kgs) 2. Reinforcement Steel (Any grade / Any brand / any type) :Rs. 45500 / Mt 3. Structural Steel (Any grade / Any brand / any type) :Rs. 48000 / Mt 4. Kota stone :Rs . 40/Sq.ft 5. Tiles :Rs . 30/Sq.ft 6. Sand :Rs .18.5/Cft 7. 40mm Aggregate :Rs .17/Cft 8. 20mm Aggregate :Rs .23/Cft 9. 12mm Aggregate :Rs .17/Cft 10. Bricks :Rs .4/No 11. Wood :Rs .2250/Cft CEMENT, STEEL AND OTHER MATERIALS SUPPLY BY CONTRACTOR I. The contractor shall procure and use cement, steel and other materials requirement for the work. II. Cement and steel to be used on the work shall be got approved by the Engineer In charge before use on the work. Note: The above Basic Prices are for delivery at site including all taxes, transportation, loading & unloading etc.,

5 If the cost of above mentioned materials increased or decreases upto 10% from the above basic rate, than the difference amount will be paid by the CLIENT to the CONTRACTOR at actuals. If the cost of above mentioned materials decreases from the above basic rate, then the difference amount will be deducted from the CONTRACTORs bill at actuals. Escalation on wastages for the above materials shall be as per CPWD norms / adequacy 12. Material / Secured Advance 90% of the value of cement, steel & Other Materials purchased and stocked at the work site of the Engineering College premises shall be given as Material / Secured advance. The advance amount so paid, shall be deducted from each of the bill amount, Corresponding to the value of the quantity of the material used in the building construction work. If there is any advance amount still outstanding, the same shall be deducted at the time of final settlement of the bill.

13. Water and Electricity CLIENT shall provide water and electricity at one point within the site to CONTRACTOR at free of cost. CCCL shall lay further distribution lines at their own cost. 14. Land CLIENT shall provide sufficient leveled land to CONTRACTOR at free of cost within the site premises to enable CONTRACTOR to construct his site office, Client/PMC Office ,work shop, fabrication yard, storage shed, material stock yard, labour hutments, concrete plants etc., and temporary arrangement to Client/PMC shall be provided by the contractor. 15. ESI & PF The CONTRACTOR shall indemnify the CLIENT against any claims towards ESI and PF. CONTRACTOR shall not provide any documentary proof to the CLIENT. 16. Safety of Adjoining Properties

6 The insurance for any adjacent property around CLIENTs property shall be extra to the CLIENTs account. 17. Defects Liability Period Defects Liability Period shall be 12 months from the date of issue of Virtual completion certificate to the CONTRACTOR. 18. Liquidity Damages The CONTRACTOR shall not be imposed any liquidated damages for the incompletion of any mile stone events. In case of delays attributed and the LD shall be at the rate of 0.25% of the contract value per week to a ceiling of 2.5% of the contract value In case of the reasons attributed by CONTRACTOR. 19. Bonus / penalty The CLIENT shall pay bonus for the earlier completion along with final bill at the rate of 0.5% per week of earlier completion upto maximum of 5% of the contract value to the CONTRACTOR. The CLIENT shall debit for the delayed completion along with final bill at the rate of 0.5% per week of delayed completion upto maximum of 5% of the contract value to the CONTRACTOR. 20. Coordination with other Agencies(Point not Required) The CONTRACTOR shall coordinate with other agencies at site to progress the work in the smooth manner. However, any facilities to be provided to them such as power, water, scaffolding & equipments etc., shall be paid to the CONTRACTOR at actuals based on utilization of the same by the other agencies as per the CONTRACTOR tariffs. 21. Nominated Sub Contractors (Point not Required) For the nominated subcontractor (or) specialized agency works, the CLIENT shall pay the CONTRACTOR for co-ordination charge of 10 % on nominated subcontractor (or) specialized agency works order value for the services to be rendered by CONTRACTOR. Taxes shall be extra on actual over and above the co ordination charges. 22. Delay and Extension of Time

7 In case of delays due to force majeure conditions or the reasons attributed by CLIENT / Consultant / PMC, CLIENT shall give the following to the CONTRACTOR : Extension of time and also suitable compensation towards CONTRACTORs over stay & Idle charges for CONTRACTORs men / material / P&M / site establishments / installations etc, mutually agreed upon. Further CONTRACTOR shall not be liable for liquidated damages for delay in completion of WORKS due to reasons solely attributable to CLIENT. 23. Rates for Extra items of Work The CLIENT/PMC shall fix the rates for extra items based on the following after getting prior approval from Client/PMC. Actual cost of materials + Actual hire cost of Plant & Machinery+ Actual cost of Labour + 20% towards OH and Profit. Taxes shall be extra over the arrived rates. 24. Insurance The CONTRACTOR shall provide adequate Insurance to cover the following: (a) Contractors All Risk Policy (CAR) (b)Workman Compensation (c) Third Party Liability In case the CLIENT requires any other insurance other than the above, the same shall be provided by CONTRACTOR and the cost incurred for additional insurances shall be reimbursed at actuals by the CLIENT to the CONTRACTOR. 25. Work at Night and on Holidays The CONTRACTOR shall be permitted to work on Holidays / Sundays and during evenings/nights in order to keep up with the schedule and suitable supervision shall be extended to CONTRACTOR by CLIENT / Consultants / PMC at free of cost.(any problem causes on these days contractor will be responsible). 26. Statutory Approvals Statutory approval charges for all permits to be obtained from the Central / State Government / Local Authorities for buildings are of the responsibility / scope of the CLIENT. 27. Settlement of Disputes

8 Incase of any dispute arises out of this contract at the 1st instance, CLIENT and CONTRACTOR shall settle the issue amicable based on mutual discussions and agreed upon. Incase no settlement is arrived between CLIENT and CONTRACTOR, the same shall be settled as per Indian Arbitration practice vide the latest amendment as of 1996 and the same shall be binding between both the CLIENT and CONTRACTOR. Place of arbitration shall be at Chennai. 28. Agency Works/Approved Makes All supplier/Agencies required for the specialized works shall be as per the CONTRACTORS Supply chain management systems. However the Materials/Services specification shall be as per BIS standards in conformity with the Engineer in charge or PMC. 29. Specification & Method of Measurement The CONTRACTOR shall follow BIS Specification and the Method of Measurement governing this contract shall be as per IS 1200 of its section as per its latest amendments.
30. Shoring and Dewatering Works CLIENT shall pay the CONTRACTOR for Shoring/ Strutting and Dewatering works extra at actuals. Incase, if shoring / strutting and dewatering becomes unavoidable the CONTRACTOR shall propose an appropriate scheme and price for effective execution. The activity shall be commenced after the due approval of the CLIENT. 31. Concrete works The CONTRACTOR has considered cement consumption as per IS 456:2000 in their offer and it does not include any cost towards micro silica. Mix design will be given by the CONTRACTOR to the CLIENT. 32. Steel works Laps, chair, spacer bars, etc., shall be measured and paid separately in addition to the main reinforcement steel by the CLIENT to the CONTRACTOR. 33. Shuttering works The CONTRACTOR shall use steel shuttering for slabs, plywood shuttering for columns and steel/plywood for beams. 34. Expansion joints

This item of work shall be measured and paid separately by the CLIENT to the CONTRACTOR.

35. Demolition works There are no demolition works such as dismantling of existing structures, old foundations in the site. Incase, if the same is envisaged during the course of execution of the work, the same shall be measured and paid separately to the CONTRACTOR. 36. Re routing of existing services There is no rerouting of existing services within the site. Incase, if the same is envisaged during the course of execution of the work, the same shall be measured and paid separately to the CONTRACTOR. 37. Item No. 8 - Filling in basement The CONTRACTOR shall use locally available earth for filling in basement for the item no.8 of Filling in Basement in BOQ. 38. Item No. 18 - Grill work (Point not required) The Unit for the item no.18 of Grill work in BOQ shall be measured in "Kgs" instead of "Sft". 39. Item No. 8 - Weather course with broken jelly The CONTRACTOR has considered the thickness of weathering course as 100mm thick in their offer. If the thickness varies then the CONTRACTOR shall be suitably compensated by the CLIENT. 40. Concrete works The CONTRACTOR has considered the shuttering co-efficient as per the measurement sheets and drawings given by the client during the tender process. Incase if shuttering co-efficient increases, it shall be suitably compensated by the CLIENT. 41. Item No.14-Kota stone Floorings (Point not required) The Nosing, antiskid grooves, holes for Wash basins, etc. will be measured and Paid separately extra over and above the for the item no.14 of Kota stone flooring by CLIENT to the CONTRACTOR. IN WITNESS WHEREOF, the parties hereto have executed these presents on the day, month and year first above-written. Signed and delivered for and on Accepted by

10 on behalf of on Behalf of AAA College of Engineering & Technology M/s. Consolidated Construction Consortium Limited

AUTHORISED SIGNATORY Date: Place:

AUTHORISED SIGNATORY Date : Place IN THE PRESENCE

IN THE PRESENCE OF TWO WITNESSES OF TWO WITNESSES 1. 2. 1. 2.

Note: 1.) BOQ is not revised (Remove all finishing items) only civil should be included.