Property Annual Inspection Report

PROPERTY ANNUAL INSPECTION REPORT

Property Identification

Inspection Date:

Recitals

WHEREAS, Owner retains Inspector to perform an annual physical inspection of the Property identified above for the purpose of documenting observable conditions, safety issues, and maintenance needs; and

WHEREAS, Inspector represents that it is duly qualified and experienced to perform the inspection services described herein and will conduct the inspection in accordance with generally accepted industry standards applicable to similar properties; and

WHEREAS, Owner and Inspector agree that the written findings and the terms set forth in this report govern the inspection engagement and the use of the resulting report.

Scope of Work

The Inspector shall perform a visual, non-invasive inspection of accessible areas of the Property as described below. Observations are limited to readily accessible components and do not constitute a warranty or guarantee of future performance.

Inspection Findings

For each component listed below, check the box if a notable deficiency or safety concern was observed and provide brief observations and suggested actions.

Summary of Deficiencies

Recommendations & Estimated Costs

Recommended corrective actions and preliminary cost estimates. Estimates are for budgeting purposes only and do not represent firm bids.

Payment Terms

Owner agrees to compensate Inspector for inspection services in accordance with the following payment terms. All amounts are payable in U.S. dollars.

Unpaid amounts are subject to the stated late fee and collection costs. Owner shall pay reasonable attorney's fees and collection expenses incurred by Inspector to enforce payment.

Term and Termination

This engagement commences on the Start Date and continues until the services are completed or this agreement is terminated in accordance with the terms below.

Start Date:    End Date:

Either party may terminate for cause on material breach if the breaching party fails to cure within the notice period. Termination shall not relieve Owner of obligation to pay for services performed prior to termination.

Confidentiality

The Inspector will treat the inspection report and any supporting documentation as confidential and will not disclose such materials to third parties without Owner's prior written consent, except where disclosure is required by law or regulation. Owner acknowledges that Inspector may retain copies of reports for recordkeeping and professional liability purposes.

Limitation of Liability

Inspector's liability for claims arising from this engagement is limited to direct damages not to exceed the total fees paid by Owner under this agreement. In no event shall Inspector be liable for incidental, consequential, punitive or exemplary damages. This allocation of risk is an essential basis of the bargain between the parties.

Governing Law

This agreement and any dispute arising out of or relating to it shall be governed by and construed in accordance with the laws of the state in which the Property is located, without regard to principles of conflict of laws.

Entire Agreement

This document, together with any attached exhibits or appendices, constitutes the entire agreement between Owner and Inspector concerning the subject matter and supersedes all prior and contemporaneous agreements, representations, and understandings, whether oral or written. Any amendment must be in writing and signed by both parties.

Inspector Certification

The undersigned Inspector certifies that the inspection was performed by a competent inspector, that observations set forth in this report are true and correct to the best of the Inspector's knowledge as of the Inspection Date, and that no material information has been knowingly omitted.

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