Bank…………………. .. 4. The owner pays the contracting authorities a sum of Rs………. whose owner pays the contracting authority each week the amount sufficient to cover the costs incurred by the contracting authorities in respect of the materials used in the works, which have been verified and certified by the architect, Rs…… on the architect`s attestation that the work is completed up to the first floor, the additional sum of Rs ………. on the architect`s attestation that the works are completed up to the second floor and that the balance must be paid on the architect`s certificate, that the above-mentioned works have been completed in all respects in accordance with the agreement and that the contracting authorities have removed and evacuated, at their own expense, all unused scaffolding, fences, materials and waste, and the bungalow for use and colonization and immediately the profession. However, an amount equal to 5% of the total amount of the contract to be paid by the owner under this contract is withheld by the owner as a withholding indemnity to be paid after a period of 12 months from the date of delivery of the bungalow fully and ready to be purchased. .