The Building grants shall be subject to the following conditions :-
(i) The management agrees to give an undertaking in writing that the construction, reconstruction, extension or purchase will be c:"lmpleted within a period of twelve months from the date of sanction of the first instalment of the grant, or within such extended period as the Director may, for good and sufficient reasons to be recorded in writing, sanction in this behalf; and that in case, the Management fails to complete the work within time, it shall refund the amount of the grant with interest thereoL at such rate as Government may, from time to time, fix;
(ii) The management shall utilise the building solely for the purpose for which the grant is sanctioned:
(iii) The management shall maintain separate accounts of the work, and submit the same for inspection to tkr Director or any officer autho rised by him in this behalf;
(iv) Quarterly reports in respect of the progress of the work and such l'ther information as may be required by the Director from time to rime shall be submitted to the Director.