Building Project Agreement

BUILDING PROJECT AGREEMENT

This Building Project Agreement ("Agreement") is entered into as of by and between:

Parties

Property Identification

Scope of Work

Contractor shall furnish all labor, materials, equipment, and supervision necessary to complete the work described in this Agreement at the Property in accordance with the plans and specifications attached hereto and incorporated by reference. The general description of the Project is:

Contract Price and Payment

Contract Sum (including all labor and materials, but excluding changes authorized pursuant to this Agreement): $

Retainage withheld (if any):    Payments due within days of invoice.

Project Schedule

Scheduled Commencement Date:   Scheduled Substantial Completion Date:

Liquidated damages for delay, if any, are set at $ per day, commencing after a cure period of days following Notice of Delay.

Permits, Permissions and Inspections

Responsibility for obtaining required permits and approvals: Contractor shall obtain permits: Yes No

Permit fees and inspection costs to be paid by:

Change Orders

Any change to the Scope of Work, Contract Sum, or Schedule must be authorized in writing by Owner and Contractor by a signed change order describing the work, adjustments to the Contract Sum, and adjustments to the time for performance.

Warranties

Contractor warrants that the Work will be free from defects in workmanship and materials for a period of from the date of Substantial Completion, except for defects caused by Owner or ordinary wear and tear.

Insurance, Bonds and Indemnity

Contractor shall maintain commercial general liability insurance (including completed operations) with limits not less than $ per occurrence and shall maintain workers' compensation as required by law.

Performance bond required: Yes No

To the fullest extent permitted by law, Contractor shall indemnify and hold Owner harmless from and against claims, damages, losses and expenses, including but not limited to attorney's fees, arising out of or resulting from performance of the Work, provided such claim is caused in whole or in part by any negligent act or omission of Contractor or its subcontractors.

Liens and Final Payment

Contractor shall pay all subcontractors and suppliers and shall keep the Property free of liens. Final payment is contingent upon delivery of sworn statements, releases of lien, and other documentation reasonably requested by Owner.

Prior to final payment, Contractor shall provide conditional and unconditional lien waivers as required by Owner.

Default, Cure and Remedies

If either party materially defaults in the performance of its obligations, the non-defaulting party shall provide written Notice of Default and a cure period of days, after which the non-defaulting party may pursue available remedies including termination, damages, and specific performance where applicable.

Termination

Owner may terminate this Agreement for convenience upon written notice to Contractor subject to payment for Work performed and demobilization costs reasonably incurred. Contractor may terminate for Owner's material breach after providing required notices and cure periods.

Disclosures

Lead-based paint present: Yes No

Known mold or water intrusion: Yes No

Prior structural damage or major repairs: Yes No

Governing Law; Entire Agreement

This Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located. This Agreement, together with any plans, specifications, and attachments expressly incorporated, constitutes the entire agreement between the parties and supersedes all prior negotiations and agreements, whether written or oral.

Notices

All notices, requests, consents, claims and other communications hereunder must be in writing and delivered to the addresses below by hand, certified mail, or other agreed means.

Miscellaneous Provisions

Severability: If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect. Waiver: Failure to enforce any provision shall not constitute a waiver of future enforcement. Assignment: Neither party may assign this Agreement without the prior written consent of the other, except that Contractor may assign to an affiliate or in connection with a financing.

Sign Now