Erection of Building-Building

Making living space for more and more people

The world is becoming very crowded and everyday people are struggling to find an accommodation. This situation is going t become worse in the coming future. There is a strong need of erecting building both for residential and commercial use.

Definitely there are construction works going all over the word but the rate at which the population is growing the buildings at present will never be able to take the load.

Erecting building is not a joke because for that you need to have land. Unless there is land the building cannot be erected. It is no wonder that there is going to be acute shortage of land too. This is the reason why man countries have started to build new lands in the areas that are covered by sea or ocean. These are obviously rich countries that are capable of investing in such projects.

The deficiency of land is not the only problem when it comes to erecting building. Even the construction materiel, the construction equipments as well as the labor is becoming more and more expensive with each passing day.

Though the whole scenario is becoming more difficult but still there are hopes because of the technological advances that the human race is making in every field. The technology will surly find a way to accommodate more and more people on the same area of land. The high buildings are one of the examples of such technology. These types of houses even unimaginable a few decades ago but they are a reality today.

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Erection of building.

This agreement is made on _________[date], between _________ Association of _________ (“association”) and parties whose names are here subscribed (“subscribers”).
Subscribers are desirous and deem it to their advantage to have a building erected by association for _________, at _________, in the County of _________, State of _________, and association has agreed to erect such a building at that place, at a cost not to exceed $_____.
Now, therefore, in consideration of the mutual promises contained in this agreement, the parties agree as follows:
1. Association here agrees to erect _________.
2. Subscribers, in consideration of agreement to erect that building, here agree, each for himself or herself, his or her heirs, executors and administrators, to and with association, and with each other, to pay to association the sums set after their respective names, on the dates and according to the terms expressed in this agreement.
3. It is mutually agreed that this contract shall not be binding on either party until the sum of $_____ or more is subscribed; provided, however, that neither association, nor any subscriber, or all of them, shall terminate this agreement prior to _________[date], it being the object of this proviso that the parties shall have until that date to secure subscriptions amounting to the entire sum of $_____.
4. It is further provided that if said entire sum of $_____ is not subscribed on or before _________[date], then any party shall have power to cancel this contract as to him, her, or it, by giving a written notice, personally or by mail, of an intention to do so. If agreement is canceled by association, notice addressed to the last ascertainable post-office address of any subscriber shall be sufficient; if by a subscriber, notice shall be given to _________.
5. It is further agreed that within _________ days from the time the total amount of $_____ is subscribed, association may call for payment of at least _________ percent of the respective subscriptions of subscribers, and may call for the whole or any part of the balance of subscriptions at any time after _________ months from the first call.
In witness, association has caused this instrument to be executed in its name and sealed with its seal by _________, its duly authorized _________, and subscribers have set their hands the day and year first above written.