This agreement is made on 02.04.2010 between District Magistrate, Purba Medinipur (Disbursing Authority) and the Teacher in charge Kismat Naikundu G.P. High School trust (Beneficiary Organization).
It is hereby agreed between both parties to this agreement and binds themselves to the following terms & conditions.
1. A work at Mouja – Machhlandapur, JL-No-115, Plot No-458 regarding the construction of Kismat Naikundi G.P. High School costing Rs. 536170/- mutually agreed upon by the parties and that has been duly recommended by Srimati Tamalika Panda Seth 204 Mhishadal AC M.L.A. shall be undertaken by the first party to be handed over to the second party after completion of the scheme/shall be undertaken by the managing committee of the Educational Institution.
2. the Second party declares that the land and Movable property offered by the second party for executing the development work / on which the work is being executed is owned by the second party, free form any encumbrances, free from any pending litigation and not affected by the Urban Land (Ceiling and Regulation)Act, 1976.
3. The second party declares that the asset created out of BEUP Funds is free from any encumbrances expect for the adavances taken for the purpose of this work / project.
4. The second party declares that the asset created out of BEUP Fund must always be available for the uses of or by the General Public at large.
5. The second party declares that the asset created out of BEUP Fund shall not be sold/transferred/otherwise disposed of without the prior written approval of the state Government.
6. The second party declares that the organization shall undertake full responsibility to ensure maintenance and upkeep of the assets, which will be subject to periodical audit and inspection by the First Party or this authorized nominee in this behalf.
7. The second party declares that the organization shall submit annual report and its audited accounts on regular basis...