Subject:
Signing of a significant Conditional Construction Contract with a value of PLN 54.6 million - Construction of multi-family residential buildings with underground garages at Chmielewskiego Street in Szczecin - STAGE II and III on plots 3/5, 3/6, 3/7, 3/10, 3/17, precinct 1058, including the above- and underground infrastructure necessary for the operation of the buildings, land development and retaining walls to the extent necessary for the implementation of the investment.
Legal basis:
Article 17(1) MAR - confidential information.
Report content:
The Management Board of ERBUD S.A. (the Issuer) hereby announces that on 20-12-2021 it entered into a significant Conditional Construction Contract on the terms specified below:
CONTRACT: “Construction of multi-family residential buildings with underground garages at Chmielewskiego Street - STAGE II and III on plots 3/5, 3/6, 3/7, 3/10, 3/17, precinct 1058, including above- and underground infrastructure necessary for the operation of the buildings, land development and retaining walls to the extent necessary for the implementation of the investment”, date of signing the Contract 20.12.2021
CONTRACT shall be entered into under the condition precedent that the Investor is granted a loan for the implementation of the investment task by 30 April 2022
INVESTOR: BEST DEWELOPER Spółka z ograniczoną odpowiedzialnością with its registered office in Szczecin, 27D Południowa Street, 71-001 Szczecin
COMPLETION TIME: 03.01.2022 - 01.02.2024
BUILDING VOLUME m³:
AREA m²: FLOOR SPACE: 8,026.00 m2; TOTAL SPACE: 17,644.00 m2
SCOPE OF WORK: execution of construction works including installation works, land development and accompanying technical infrastructure
VALUE IN PLN MILLION: PLN 54,578,307.47 net
PLACE OF PERFORMANCE: Chmielewskiego Street, Szczecin
PERFORMANCE GUARANTEE: 5.0% of the net contract value
GUARANTEE FOR REPAIR OF DEFECTS AND FAULTS: 1.5% of the net contract value
PENALTIES:
for delay in execution of the subject matter of the CONTRACT in the amount of 0.05% of the net remuneration for each day of delay
for a delay in the delivery of the final occupancy permit in the amount of 0.05% of the net remuneration for each day of delay
for delay in removal of defects identified during the warranty and guarantee period in PLN 1,000 for each day of delay
for withdrawal from the CONTRACT by one of the parties due to circumstances for which the other party is responsible - in the amount of 10% of the net remuneration
PENALTIES LIMIT: 10 % of the net contract value
GUARANTEE PERIODS: quality guarantee and warranty for defects 60 months for construction and installation works, 24 months for equipment, and materials according to the conditions included in manufacturer’s warranties
Szczecin Branch
Segment - residential buildings