Construction Building Contract

Construction Building Contract

This Construction Building Contract (the "Contract") is made and entered into as of by and between Owner Name: , Owner Address: ("Owner"), and Contractor Name: , Contractor Address: ("Contractor").

RECITALS

WHEREAS, Owner desires construction, improvement and completion of certain work described as: Project Description: located at Project Address: (the "Project");

WHEREAS, Contractor represents that it possesses the skill, experience, equipment and licenses necessary to perform the Work in accordance with the terms and specifications set forth in this Contract and the Contract Documents; and

WHEREAS, Owner and Contractor desire to set forth their respective rights and obligations with respect to the performance, payment and administration of the Work.

NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:

1. DEFINITIONS

1.1 "Contract Documents" means this Contract, drawings, specifications, addenda, change orders and other documents incorporated by reference. 1.2 "Work" means the construction and related services to be performed by Contractor as set forth in the Scope of Work.

2. SCOPE OF WORK

Contractor shall furnish all labor, materials, equipment and supervision necessary to complete the Work described in the Contract Documents in a good and workmanlike manner in accordance with customary industry standards. Contractor shall perform the Work in compliance with all applicable building codes, laws and regulations.

3. CONTRACT SUM; PAYMENT

3.1 Contract Sum. Owner shall pay Contractor for the performance of the Work the Contract Sum of $ (the "Contract Sum"), subject to additions and deductions pursuant to the Contract Documents.

3.2 Payment Schedule. Payments shall be made in accordance with the Payment Schedule set forth below. Contractor shall submit invoices and progress applications as required. Owner shall make payment within days after receipt of a proper invoice.

3.3 Retention. Owner may retain of each progress payment until final completion and acceptance of the Work.

4. TIME FOR COMPLETION

Contractor shall commence the Work on or about and shall achieve Substantial Completion by . Time is of the essence. Contractor shall promptly notify Owner of any events likely to cause delay.

4.1 Liquidated Damages. If Contractor fails to achieve Substantial Completion by the Contract Completion Date, Contractor shall pay Owner liquidated damages in the amount of $ per calendar day, which the parties agree is a reasonable estimate of Owner's probable loss.

5. CHANGES; CHANGE ORDERS

No change in the Work shall be made except pursuant to a written Change Order signed by Owner and Contractor describing the change, adjustment to the Contract Sum and any adjustment to the Contract Time. The Contractor shall proceed with changed Work only after receipt of such written Change Order.

6. SUBCONTRACTORS; PERSONNEL

Contractor shall be responsible for the acts and omissions of its subcontractors and their agents and employees. Contractor shall ensure that all subcontractors are properly licensed and carry insurance as required by this Contract.

7. PERMITS; LAWS; SAFETY

Contractor shall obtain and pay for all permits, inspections and approvals required for performance of the Work, unless otherwise expressly provided. Contractor shall comply with all applicable laws, ordinances and safety requirements, and shall maintain safe work practices.

8. INDEMNIFICATION

Contractor shall indemnify, defend and hold harmless Owner, its agents and employees from and against all claims, losses, damages, liabilities and expenses, including reasonable attorneys' fees, to the extent caused by Contractor's negligent performance of the Work or breach of this Contract, except to the extent caused by the negligence or willful misconduct of Owner.

9. INSURANCE AND BONDS

Contractor shall procure and maintain insurance of the types and limits customarily required for construction projects of similar size and scope, including commercial general liability, workers' compensation and automobile liability. Contractor shall furnish certificates evidencing such coverage prior to commencement of Work. If required by Owner, Contractor shall provide performance and payment bonds in amounts equal to the Contract Sum.

10. WARRANTIES

Contractor warrants that all materials and workmanship furnished under this Contract will be free from defects for a period of from the date of Substantial Completion, unless a longer period is required by the Contract Documents or law. Remedies for breach of warranty shall include repair or replacement at Contractor's expense.

11. TERMINATION

Owner may terminate this Contract for cause if Contractor materially breaches this Contract and fails to cure within days after written notice. Owner may also terminate for convenience upon written notice; in such event Contractor shall be entitled to payment for Work performed and reasonable demobilization costs.

12. DISPUTE RESOLUTION

The parties shall attempt in good faith to resolve disputes arising under this Contract. If a dispute cannot be resolved within thirty (30) days, the parties agree to submit the dispute to binding arbitration administered by a neutral arbitrator in accordance with customary arbitration rules. Judgment upon any award may be entered in any court of competent jurisdiction.

13. NOTICES

All notices required or permitted under this Contract shall be in writing and shall be delivered by hand, certified mail (return receipt requested), or nationally recognized overnight courier to the addresses below or such other address as a party may specify in writing.

14. AMENDMENTS

This Contract may be amended only by a written instrument signed by both parties. No oral modification shall be binding.

15. WAIVER

Failure by either party to enforce any provision of this Contract shall not constitute a waiver of that or any other provision. Any waiver must be in writing and signed by the waiving party.

16. GOVERNING LAW

This Contract shall be governed by and construed in accordance with the laws of the State of without regard to conflict of law principles.

17. ENTIRE AGREEMENT

This Contract, together with the Contract Documents, represents the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, representations or agreements, whether written or oral.

18. SEVERABILITY

If any provision of this Contract is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect and shall be construed to effectuate the original intent of the parties to the extent possible.

19. COUNTERPARTS; EXECUTION

This Contract may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures transmitted by facsimile or electronic image shall be binding for all purposes.

CERTIFICATIONS AND REPRESENTATIONS

Each party represents and warrants that it has full power and authority to enter into this Contract and to perform its obligations hereunder, that the individual signing this Contract on its behalf is duly authorized, and that no consents or approvals are required that have not been obtained.

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