Real Estate Restoration Agreement

REAL ESTATE RESTORATION AGREEMENT

Parties

Owner Name:

Phone:    Email:

Contractor/Restoration Company:

Phone:    Email:

State Registration / License No.:

Property Identification

Parcel / APN Number:    Unit/Building (if applicable):

Scope of Restoration Work

Summary of Work: The Contractor shall furnish all labor, materials, equipment and services necessary to perform restoration, repair and remediation work as described in this Agreement and in the attached Scope of Work. Major components to be addressed include structural repairs, water mitigation, mold remediation, electrical and plumbing repairs as required, and restoration of affected finishes.

Schedule and Completion

Commencement Date:    Substantial Completion Date:

Final Completion Deadline (including punch list):

Time is of the essence:    Liquidated damages for delay (if any): $

Permits, Codes and Compliance

Responsibility for permits, inspections and code compliance shall be: Contractor    Owner

Contractor shall obtain and pay for all necessary permits required by applicable law for the performance of the work and shall ensure all work conforms to applicable building codes, health and safety standards and regulations.

Payment Terms

Deposit / Initial Payment: $ due upon execution.

Progress payments and schedule:

Retainage withheld:    Late payment interest:

Final payment due upon acceptance and completion of punch list items, subject to statutory lien rights and release of claims as provided herein.

Insurance and Bonds

Contractor shall maintain commercial general liability insurance with limits of not less than $ per occurrence and worker's compensation as required by law. Contractor will provide certificates of insurance upon request.

Performance bond required:    Payment bond required:

Warranties

Contractor warrants that all work will be performed in a good and workmanlike manner and will be free of defects for a period of from the date of final acceptance. Manufacturer warranties for materials, where applicable, will be assigned to Owner to the extent assignable.

Inspections, Acceptance & Punch List

Owner shall inspect the work promptly upon notice of substantial completion. Owner shall provide a written punch list of items to be completed or corrected within days. Contractor shall complete punch list items within a commercially reasonable time.

Change Orders

Changes in the scope of work shall be made only by written Change Order signed by both Owner and Contractor. A Change Order shall specify adjustments to the contract price and time for performance. Contractor shall not perform changed work without a signed Change Order, except emergency work necessary to protect life or property.

Hazardous Materials & Disclosures

Owner represents to the best of Owner's knowledge the presence of the following conditions at the property:

Lead-based paint present: Yes    No

Active mold or prior mold remediation: Yes    No

Prior structural damage or prior restoration at property: Yes    No

If any of the foregoing are marked Yes, Owner shall provide available reports and disclose known conditions; Contractor's price and remedies may be adjusted for newly discovered hazardous conditions as provided by applicable law.

Default and Remedies

If either party materially defaults in performance, the non‑defaulting party shall provide written notice and a opportunity to cure. If not cured within the cure period, the non‑defaulting party may pursue available remedies including termination, damages, or specific performance where appropriate.

Contractor's right to stop work and Owner's right to withhold payment are governed by applicable lien, stop notice and contract law; Contractor shall not be entitled to payment for work performed in breach of this Agreement.

Indemnity

Contractor shall indemnify, defend and hold Owner harmless from claims, liabilities, losses and expenses arising from Contractor's performance, to the extent caused by Contractor's negligence or willful misconduct. Owner shall indemnify Contractor for claims arising from Owner's failure to disclose hazardous conditions or for Owner's negligence.

Notices

Governing Law & Entire Agreement

This Agreement shall be governed by the laws of the state where the property is located. This Agreement, including exhibits and any executed Change Orders, constitutes the entire agreement between the parties and supersedes prior negotiations and understandings. Any modification must be in writing and signed by both parties.

Miscellaneous Provisions

Severability: If any provision is held invalid, the remainder shall continue in full force. Assignment: Neither party may assign their rights or obligations without the prior written consent of the other, except as to financing or sale of the property.

Acknowledgments

Each party warrants that the person signing this Agreement has the authority to bind the party. Owner acknowledges that Contractor may subcontract portions of the work but Contractor remains responsible for overall performance.

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