Home Improvement Basement Agreement

HOME IMPROVEMENT BASEMENT AGREEMENT

Parties

Homeowner Name:

Homeowner Address:

Contractor Name:

Contractor Business Address:

Recitals

WHEREAS, Homeowner desires to engage Contractor for improvements to the basement located at the Homeowner Address above, to include labor, materials, fixtures and services as further described herein; and

WHEREAS, Contractor represents that Contractor is duly licensed, trained and experienced to perform the work and shall perform the work in a professional and workmanlike manner in accordance with the terms of this Agreement;

WHEREAS, the parties desire to set forth their rights, duties and obligations with respect to the basement improvements in this written Agreement.

Scope of Work

Contractor shall supply all labor, materials, tools, equipment and supervision necessary to complete the work described above in accordance with accepted trade practices and applicable building codes. Work shall include, without limitation, demolition, framing, electrical, plumbing, HVAC connections, insulation, drywall, flooring, trim and painting as specified in the Detailed Scope of Work.

Payment Terms

Payment is due in accordance with the Payment Schedule. Final payment is due upon substantial completion of the Scope of Work and receipt by Homeowner of any lien waivers for work performed and materials supplied. Contractor shall not be required to complete punch list items as a condition of final payment if Homeowner withholds payment in bad faith.

Change Orders

Any change to the Scope of Work must be authorized in writing by both parties as a Change Order stating the change in scope, any additional cost and any extension to time for completion. Contractor shall not be obligated to proceed with changed work without such written Change Order.

Permits and Approvals

Unless otherwise agreed in writing, Contractor shall obtain and pay for all required building permits. Homeowner shall timely provide access and any required approvals. Contractor shall notify Homeowner of any condition requiring modification of permits or plans.

Term and Termination

Commencement Date:    Anticipated Completion Date:

Either party may terminate this Agreement for material breach after providing written notice to the other party and a period to cure of days. Termination for convenience by Homeowner requires payment for work performed, materials ordered and reasonable demobilization costs.

Confidentiality

Contractor and Homeowner shall maintain as confidential all non-public business and technical information disclosed in connection with performance of this Agreement. Confidential information shall not include information that is or becomes publicly available other than by breach of this Agreement, already known by the receiving party, or independently developed. Confidential information shall be used solely for performance of this Agreement and returned or destroyed upon request.

Warranties

Contractor warrants that all labor and materials furnished under this Agreement shall be free from defects in workmanship and materials for a period of from substantial completion. This warranty does not apply to damage resulting from misuse, alteration or ordinary wear and tear.

Insurance and Indemnification

Contractor shall maintain commercial general liability insurance and workers' compensation insurance as required by law. Contractor agrees to indemnify, defend and hold harmless Homeowner from and against any claims, damages, losses and expenses arising from Contractor's performance, except to the extent caused by Homeowner's negligence or willful misconduct.

Contractor will provide certificate of insurance prior to commencing work.

Permits, Inspections and Compliance

Contractor is responsible for arranging inspections required by permitting authorities and for compliance with applicable building codes. Homeowner shall cooperate in facilitating inspections and access. Any additional costs required to correct work not compliant with code shall be the responsibility of the party whose action or omission caused the noncompliance, subject to determination under this Agreement.

Governing Law

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

Entire Agreement

This Agreement, including any attached exhibits and written Change Orders, constitutes the entire agreement between the parties with respect to the Subject Matter and supersedes all prior negotiations, representations and agreements, whether written or oral. No amendment shall be binding unless executed in writing by both parties.

Miscellaneous Provisions

Notices required under this Agreement shall be in writing and delivered to the addresses set forth above or to such other address as a party designates in writing. If any provision is held invalid, the remaining provisions shall remain in full force and effect. The parties acknowledge that this Agreement may be executed in counterparts, each of which shall be deemed an original.

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