Construction Building Agreement

Contract for Construction of Building Designed by an Engineer

Agreement made on the day of , 20 , between of referred to herein as Owner, and , a corporation organized and existing under the laws of the state of , with its principal office located at , referred to herein as Contractor.

For and in consideration of the mutual covenants contained in this Agreement, and other good and valuable consideration, the parties agree as follows:

1. Scope of Work.

A. Contractor shall complete all Work as specified in the Contract Documents. The Work is generally described as follows:

B. The Project for which the Work under the Contract Documents may be the whole or only a part is generally described as follows:

2. Engineer. The Project has been designed by , whose address is , and is hereinafter referred to as the Engineer.

3. Contract Time.

A. The Work will be substantially completed within days after the date when the Contract commence to run as provided in Paragraph of the General Conditions, and completed and ready for final payment in accordance with Paragraph of the General Conditions within days after the date when the Contract Times commence to run.

B. Liquidated Damages. Owner and Contractor recognize that TIME IS OF THE ESSENCE of this Agreement and that Owner will suffer financial loss if the Work is not completed within the times specified in Paragraph 3 above, plus any extensions allowed in accordance with Article of the General Conditions. Owner and Contractor agree that as liquidated damages for delay, Contractor shall pay Owner $ for each day after Substantial Completion and $ for each day after final completion deadline.

4. Contract Price

A. Owner shall pay Contractor for performance of the Work in accordance with the Contract Documents in current funds at the lump sum or unit prices as presented in the Bid Form.

B. Contract Price is a stipulated sum, except for items subject to unit prices. Total Price:

$

$

5. Payment Procedures

A. Contractor shall submit Applications for Payment in accordance with the Contract Documents.

B. Progress Payments; Retainage. Owner shall make progress payments on account of the Contract Price on the basis of Contractor's monthly Applications for Payment, submitted by Contractor the day after the end of each calendar month.

C. Prior to Substantial Completion, progress payments will be made in an amount equal to the percentage indicated below:

1. % of the value of Work completed.

2. % of the value of materials and equipment not incorporated in the Work.

3. On Substantial Completion, in an amount sufficient to increase total payments to Contractor to % of the Contract Price.

D. Final Payment. On final completion of the Work, Owner shall pay Contractor an amount sufficient to increase total payments to % of the Contract Price. However, not less than % shall be retained until Record Drawings and manuals are delivered and accepted.

6. Contractor’s Representations.

A. Contractor has examined and carefully studied the Contract Documents.

B. Contractor has visited the site and become familiar with the general, local and site conditions.

C. Contractor is familiar with federal, state, and local Laws and Regulations.

D. Contractor has studied reports of explorations and tests of subsurface conditions and drawings of physical conditions at or contiguous to the site.

E. Contractor has obtained additional supplementary examinations, investigations, explorations, tests, studies, and data concerning conditions at or contiguous to the site.

F. Contractor is aware of the general nature of Work to be performed by Owner and others at the site.

G. Contractor has correlated the information known to Contractor with the Contract Documents.

H. Contractor has given Engineer written notice of all conflicts, errors, ambiguities, or discrepancies discovered in the Contract Documents.

7. Contract Documents. The Contract Documents which comprise the entire Agreement include:

A. This Agreement which includes pages to .

B. Performance Bond, Payment Bond, and Certificates of Insurance [Sections and ].

C. Notice of Award and Notice to Proceed [Sections and ].

D. General Conditions as amended by the Supplementary Conditions.

E. Supplementary Conditions [Section ].

F. Project Manual bearing the general title: .

G. Drawings consisting of a cover sheet and sheets numbers through , inclusive, with each sheet bearing the following general title: .

8. Severability. The invalidity of any portion of this Agreement will not affect the validity of any other provision.

9. No Waiver. The failure of either party to insist upon performance shall not be construed as waiving any terms.

10. Governing Law. This Agreement shall be governed by the laws of the State of .

11. Notices. Any notice shall be in writing and deemed sufficiently given when sent by certified or registered mail.

12. Attorney’s Fees. The unsuccessful party in any lawsuit shall pay reasonable attorney fees to the successful party.

13. Mandatory Arbitration. Any dispute under this Agreement shall be resolved by binding arbitration.

14. Entire Agreement. This Agreement constitutes the entire agreement between the parties.

15. Modification of Agreement. Any modification must be in writing and signed by each party.

16. Assignment of Rights. Rights under this Agreement may not be assigned without prior written consent.

21. Counterparts. This Agreement may be executed in any number of counterparts.

22. Compliance with Laws. All applicable governmental laws and regulations will be followed.

WITNESS our signatures as of the day and date first above stated.