Fill and Sign the Commentary to Owners Rider to Standard Form of Agreement

Non-Waiver Agreement between Contractor and Owner Regarding Accepting Late Payments Agreement made on the ______________________ (date), between ____________________________ (name of owner) of _________________________ ______________________________________________________________________ (street address, city, county, state, zip code), referred to herein as Owner, and ________________________________________ (Name of Contractor), a corporation organized and existing under the laws of the state of ______________, with its principal office located at _________________________________________________________ _______________________________ (street address, city, county, state, zip code), referred to herein as Contractor .Whereas, Owner is three months behind in payments pursuant to the construction agreement with Contractor; and Whereas, Contractor has the right to cease work on the project and sue Owner for breach of contract; andWhereas, Owner has offered to pay 50% of the amount due in the next ten days and the balance ten days after that if Contractor will continue work on the project;Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: Owner understands and agrees that Contractor's continuing to work on the project is not a waiver of the payment requirements under the contract. Owner agrees that any further late payments other than those made pursuant to the agreement may result in a breach of contract action against Owner by Contractor and the abandonment of the project for such breach.WITNESS our signatures as of the day and date first above stated._______________________________(Name of Contractor) __________________________ By: _________________________ (Printed name) _______________________________(Printed name & Office in Corporation) __________________________ __________________________(Signature of Owner) (Signature of Officer)