Fill and Sign the Real Estate Part 3 Flashcardsquizlet Form

*Optional notice - required only if the homeowner has borrowed or is borrowing money to finance the home improvement project: This contract creates a mortgage or lien against your property to secure payment and may cause a loss of your property if you fail to pay the amount agreed upon. You have the right to consult an attorney. You have the right to rescind this contract withi n 3 business days after the date you sign it by notifying the contractor in writing that you are rescinding the contract. Buyer's initials: _____________ BRICK MASONRY CONTRACT THIS BRICK MASONRY CONTRACT (“Contract”), effective as of the date of the last party to sign below, is between , having an address at ("Contractor") and , having an address at ("Owner"). For valuable consideration the parties hereby agree as follows: 1. SCOPE OF WORK: Brick masonry is the constructi on process in which mason’s tools (including trowels, floats, edgers, jointers, chisels and power concrete mixers), leveling tools and alignment and measuring tools are used to lay uniform solid, hollow or architectural terra cotta units (bricks) in course s with mortar joints that form walkways, driveways, patios, garages, walls, floors or other structures. Brick masonry services include, but are not limited to, making sure masonry material is appropriate for a particular climate; checking with local utilit y companies to determine the location of underground lines, if applicable; clearing the work area and preparing the site; laying out the project using stakes, strings, and leveling devices; forming concrete foundations and/or installing sand bed or washed concrete sand and crushed stone; compacting soil; mixing and buttering mortar; laying building or face bricks or brick pavers in courses with mortar joints; scoring or cutting bricks into various shapes to fill in spaces; finishing joints and making wall a nd all other brick sections plumb. Contractor shall provide all necessary brick masonry labor and materials, and perform all brick masonry services described above and/or as set forth in the plans and specifications signed by both Owner and Contractor (“Pr oject”). Such plans and specifications are hereby made a part of this Contract and may contain pictures, diagrams or measurements of the work area together with a description of the work to be done, materials to be used, and the equipment to be used or ins talled. 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 usua l 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 plans or specifications, no landscaping, finish grading, filling or excavation is to be perfo rmed at the Work Site by the Contractor. 3. TIME OF COMPLETION: Contractor shall commence the work to be performed under this Contract on or before and shall substantially complete the work on or before . Contractor shall not be liable for any delay due to circumstances beyond its control including strikes, casualty, acts of God, illness, injury, or genera l unavailability of materials. 4. PERMITS: Contractor shall apply for and obtain such permits and regulatory approvals as may be requir ed by the local municipal/county government, the cost thereof shall be included as part of the Project price. 5. 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 not specified in this agreement other than the usual and customary excavation and grading shall be agreed to in a Change Order for an amount in addition to the Contract Price. Contractor shall not be responsible for any da mages suffered by Owner as a result of the soil conditions at the Work Site. 6. INSURANCE: Contractor shall maintain general liability and workers compensation insurance. 7. SURVEY AND TITLE: If the Project is near the Owner’s property boundary, Owner will point out property lines to the Contractor. If the Owner or Contractor has any doubt about the location of the property lines, Owner shall provide Contractor with boundary stakes through a licensed surveyor. In addition, Owner shall provide Contractor documentation that Owner has title to the Work Site and shall provide Contractor copies of any covenants, conditions, or restrictions that affect the Work Site. 8. CHANGES TO SCOPE OF WORK: Owner may make changes to the scope of the work, including chan ges 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" signed by both parties. Such Change Orders shall become part of this Cont ract. Owner agrees to pay any increase in the cost of the Project as a result of a Change Order. In the event the cost of a Change Order is not known at the time a Change Order is executed, the Contractor shall estimate the cost thereof and Owner shall p ay the actual cost whether or not it is in excess of the estimated cost. 9. CONTRACT PRICE: {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: . OR {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 p aid as follows: . A contr actor cannot accept more than 1/3 of the contract price as a deposit and may not accept any payment until the contract is signed. If payment will be made by monthly payments, the total number of monthly payments is __________, the amount of each payment wi ll be $__________, including a finance charge of __________. Contractor shall furnish Owner appropriate releases or waivers of lien for all work performed or materials provided at the time the next periodic payment shall be due. 10. LATE PAYMENT/DEFAULT: A failure to make payment for a period in excess of ten (10) days from the due date shall be deemed a material breach of this Contract. If payment is not made when due, Contractor may suspend work on the job until such time as all payments due have been made without breach of the Contract pending payment or resolution of any dispute. Owner agrees to pay a late charge of 1% of all payments that are more than ten (10) days late plus interest at the rate of 1% per month. 11. DESTRUCTION AND DAMAGE : If the Project is destroyed or damaged for any reason, except where such destruction or damage was caused by the sole negligence of the Contractor or its subcontractors, Owner shall pay Contractor for any additional work done by Contractor in rebuilding or r estoring the Project to its condition prior to such destruction or damage. If the estimated cost of replacing work already accomplished by Contractor exceeds 20 percent of the Contract price, either the Contractor or Owner may terminate this Contract. Upon termination by either party, Contractor shall be excused from further performance under this Contract and Owner shall pay Contractor a percentage of the Contract price in proportion to the amount of work accomplished prior to the destruction or damage. 12. ASSIGNMENT : Neither party may assign this Contract, or payments due under the Contract, without the other party’s written consent. Any such assignment shall be void and of no effect. 13. INTERPRETATION: (a) Interpretation of Documents. The Contract, plans, and specifications are intended to supplement one another. In the event of a conflict, the specifications shall control the plans, and the Contract shall control both. If work is displayed on the plans but not called for in the specifications, or if the work is called for in the specifications but not displayed on the plans, Contractor shall be required to perform the work as though it were called for and displayed in both documents. (b) Entire Agreement. This Contract constitutes the entire agreeme nt of the parties. No other agreements, oral or written, pertaining to the work to be performed under this Contract exists between the parties. This Contract may only be modified by a written agreement signed by both parties. (c) Governing Law. This Contr act shall be interpreted and governed in accordance with the laws of the State of Maryland. 14. ATTORNEYS’ FEES AND COSTS: If any party to this Contract brings a cause of action against the other party arising from or relating to this Contract, the preva iling party in such proceeding shall be entitled to recover reasonable attorney fees and court costs. 15. PERFORMANCE: (a) Contractor may, at its discretion, engage licensed subcontractors to perform work pursuant to this Contract provided Contractor shall remain fully responsible for the proper completion of the Project. (b) All work shall be completed in a workman -like man ner and in compliance with all building codes and applicable laws. To the extent required by law, all work shall be performed by individuals duly licensed and authorized by law to perform said work. (c) Contractor agrees to remove all debris and leave the premises in broom clean condition. 16. 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 defec ts 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 of such materials. AGREED: CONTRACTOR: Signature Print Name & Title OWNER: Signature Print Name Date License Number Name and Address of License Holder Phone Number Salesperson (if applicable) Salesperson's License Number Signature of Salesperson Date Notice for Homeowners Each contractor and subcontractor must be licensed by the Commission and anyone may ask the Commission about a contractor or subcontractor. Department of Labor, Licensing and Regulation Division of Occupational and Professional Licensing Maryland Home Improvement Commission 500 North Calvert Street Baltimore, Maryland 21202 -3651 410 -230 -6309 1-888 -218 -5925 e-mail: mhic@dllr.state.md.us 1. Forma l mediation of disputes between homeowners and contractors is available through the Commission; 2. The Commission administers the Guaranty Fund, which may compensate homeowners for certain actual losses caused by acts or omissions of licensed contractors; and 3. A homeowner may request that a contractor purchase a performance bond for additional protec tion against losses not covered by the Guaranty Fund. _____________________________ __________________________ Buyer's Signature Contractor's Signature *Optional notice - required only for door -to-door sales: (Enter Date of Transaction) ___________________ Date You may cancel this transaction, without any penalty or obligation, within three business days from the above date. If you cancel, any property traded in, any payments made by you under the contract or sale, and any negotiable instrument executed by you will be returned within 10 business days following receipt by the seller of your cancellation notice, and any security interest arising out of the transaction will be cancelled. If you cancel, you must make availa ble to the seller at your residence, in substantially the same condition as when received, any goods delivered to you under this contract or sale; or you may, if you wish, comply with the instructions of the seller regarding the return shipment of the good s at the seller’s expense and risk. If you do make the goods available to the seller and the seller does not pick them up within 20 days of your notice of cancellation, you may retain or dispose of the goods without any further obligation. If you fail to make the goods available to the seller, or if you agree to return the goods to the seller and fail to do so, then you remain liable for performance of all obligations under this contract. To cancel this transaction, mail or deliver a signed and dated cop y of this cancellation notice or any other written notice to: ______________________________ at (name of seller) _________________________________ (address of seller’s place of business) not late then midnight of _________________________________ (date) I hereby cancel this transaction ______________________ _________________________________________ (date) (Buyer’s signature)