Custom Builders Agreement

Custom Builders Agreement

Parties

Owner Name:   Owner Email:

Builder Name:   Contractor License No.:

Builder Phone:   Builder Email:

Property Identification

Scope of Work

Builder shall furnish all labor, materials, equipment and services necessary to perform the work described in this Agreement ("Work") at the Property in accordance with the plans and specifications attached or listed below. Work shall conform to industry standards and applicable codes.

Contract Price and Payment

Total Contract Price: $   Down Payment (Deposit): $

Retainage:    Late Payment Interest:

Schedule; Commencement; Completion

Anticipated Start Date:   Substantial Completion Date:   Final Completion Date:

Time is of the essence in this Agreement. Builder shall proceed with reasonable dispatch. Delays caused by events beyond Builder's reasonable control shall extend time for performance by the period of such delay, provided Builder gives prompt written notice and supporting information.

Change Orders

Any change to the Scope of Work or Contract Price must be made by a written Change Order signed by both parties. Change Orders shall state the change in work, adjustment to the Contract Price, and any adjustment to the schedule.

Permits, Approvals and Codes

Builder shall obtain and pay for all permits and inspections required by applicable law unless otherwise agreed in writing. Builder represents that Work will comply with applicable building codes and regulations.

Who obtains permits:    Permit Cost Responsibility:

Warranties

Builder warrants that Work performed under this Agreement will be free from defects in workmanship and materials for a period of months from final completion, except for normal wear and tear and items covered by manufacturers' warranties which will be transferred to Owner as provided by manufacturer.

Insurance and Indemnity

Builder shall maintain commercial general liability insurance, workers' compensation, and automobile liability insurance in amounts customary for the trade. Builder shall name Owner as an additional insured on commercial general liability insurance for the duration of the Work.

To the fullest extent permitted by law, Builder shall indemnify and hold harmless Owner from and against claims, damages, losses and expenses arising out of or resulting from the performance of the Work, provided such claim is caused in whole or in part by any negligent act or omission of Builder or its subcontractors.

Inspections; Punch List; Final Acceptance

Owner shall have the right to inspect the Work. Upon Substantial Completion, the parties shall prepare a punch list of items to be completed or corrected. Final payment shall not be due until all punch list items are completed, except for minor items agreed to be completed after final payment.

Default, Remedies and Termination

If either party materially defaults, the non-defaulting party shall provide written notice and a period of days to cure. If the default is not cured within such period, the non-defaulting party may pursue remedies available at law or in equity, including termination, damages, and specific performance where appropriate.

Disclosures

The parties acknowledge the following known conditions affecting the Property at the time of this Agreement:

Lead-based paint known to exist on the Property

Known mold or moisture intrusion issues

Prior structural or water damage disclosed by Owner

Known hazardous materials (asbestos, underground storage tanks, etc.)

Financing Contingency

This Agreement is contingent upon Owner obtaining construction financing. If checked, Owner shall use good faith efforts to obtain financing; if financing is not obtained within the period agreed by the parties, either party may terminate this Agreement without penalty and receive an accounting of any funds paid.

Dispute Resolution; Governing Law

The parties agree to attempt in good faith to resolve disputes arising under this Agreement by negotiation. If unresolved, disputes shall be submitted to binding arbitration administered in accordance with the parties' agreement at the time of dispute. This Agreement shall be governed by the laws of the state of , without regard to conflict of law principles.

Notices

All notices required under this Agreement shall be in writing and delivered to the addresses below by personal delivery, certified mail, or overnight courier and shall be effective upon receipt.

Entire Agreement; Assignment

This Agreement, including attachments and Change Orders, constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations and understandings. Neither party may assign its rights under this Agreement without the prior written consent of the other, except that Builder may assign receivables to a lender.

Miscellaneous Provisions

If any provision of this Agreement is held invalid or unenforceable, the remaining provisions will continue in full force. Headings are for convenience only and do not affect interpretation. Contractor's subcontracts shall be subject to the terms of this Agreement where applicable.

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