Fill and Sign the Contract Cost Plus Form

CONSTRUCTION CONTRACT THIS CONTRACT IS ENTERED INTO THIS THE ____ DAY OF _______________ , 20 ___ , by and between ________________________________________________ , hereafter "Contractor" and ________________________________________________ hereafter "Owner". For valuable consideration the parties do hereby agree as follows: 1. SCOPE OF WORK: Contractor shall provide all labor and materials, and shall construct for Owners the residence as described by the plans and specifications (hereafter "the Project") selected by Owners and more particularly described as __________________________________ ______________________________________________________________________________ . Copies of said plans and specifications have been executed by Contractor and Owner on the date hereof and are hereby made a part of this contract. 2. WORK SITE: The Project shall be constructed on the property of Owner located at _______________________________________________________________________ and more particularly described as ___________________________________________________________ (hereafter "the Work Site"). Owner hereby authorizes Contractor to commence and complete the usual and customary excavation and grading on the Work Site as may be required in the judgment of the Contractor to complete the Project. Unless called for in the specifications no landscaping, finish grading, filling or excavation is to be performed at the Work Site by the Contractor except as is so required. 3. PERMITS: Contractor shall apply for and obtain such permits and regulatory approvals as may be required by the local municipal/county government, the cost thereof shall be an expense of the Project. 4. SOIL CONDITIONS: Contractor shall have no responsibility for the condition of the soils at the Work Site. Any excavation, filling or other work required by the Owner other than the usual and customary excavation and grading shall be an additional expense of the Owner. Owner shall determine before construction begins if additional site work is required because of the soil conditions at the Work Site and shall provide Contractor written specifications as to such additional site work. Contractor shall not be responsible for any damages suffered by Owner as a result of the soil conditions at the Work Site. 5. INSURANCE: Contractor shall maintain general liability, workers compensation and builder's risk insurance to insure against risks covered by such insurance. Contractor shall be responsible for any worker's compensation coverage or payments required and shall indemnify and hold Owner harmless for the payment of same or any such claims against Owner. 6. SURVEY AND TITLE: Prior to commencement of construction Owner shall provide Contractor with a boundary survey performed by a licensed surveyor, a title opinion by a licensed attorney and a copy of all protective covenants which effect the Work Site. 7. CHANGES TO SCOPE OF WORK: Owner may make changes to the scope of the work including changes to the plans and specifications from time to time during the construction of the Project. However, any such change or modification shall only be made by written "Change Order", in the form of a letter to Contractor specifying the changes. Owner agrees to pay any - 1 - increase in the cost of the Project as a result of all Change Orders. In the event the cost of the Change Order is not known at the time a Change Order is executed the Contractor shall estimate the cost thereof and Owner agrees to pay the actual cost whether or not it is in excess of the estimated cost. 8. CONTRACTORS FEE: {COST PLUS} Owner agrees to pay Contractor the actual cost to Contractor of materials plus the sum of $ ___________________________ for performing the services set forth in the scope of the work. Contractor shall be paid as follows: _______________________________________________________________________________ _______________________________________________________________________________ ______________________________________________________________________________ . {FIXED FEE} Owner agrees to pay Contractor the sum of $ ___________________________ for performing the services set forth in the scope of the work. Contractor shall be paid as follows: _______________________________________________________________________________ _______________________________________________________________________________ ______________________________________________________________________________ . 9. LATE PAYMENT/DEFAULT: Owner agrees to pay a late charge of 1% of all payments which are more than ten (10) days late plus all costs of collection including reasonable attorneys fees in the event payment is not made in accordance with the terms of this contract. 10. WARRANTY: Contractor's warranty shall be limited to defects in workmanship within the scope of work performed by Contractor and which arise and become known within one (1) year from the date hereof. All said defects arising after one (1) year and defects in material are not warranted by Contractor. Contractor hereby assigns to Owner all warranties on materials as provided by the manufacturer thereof. WITNESS THE SIGNATURES OF THE PARTIES HERETO ON THE DATE FIRST WRITTEN ABOVE. CONTRACTOR: OWNER - 2 -