Renovation Contract

RENOVATION CONTRACT

This Renovation Contract (the "Agreement") is made on Date: between Owner Name: of Address: ("Owner") and Contractor Name: of Address: License No: ("Contractor").

RECITALS

WHEREAS, Owner desires to engage Contractor to perform renovation, repair, and related services at the Property described below; and

WHEREAS, Contractor holds the licenses, expertise, personnel, and insurance necessary to perform such renovation work and agrees to perform the work under the terms and conditions set forth in this Agreement; and

WHEREAS, the parties desire to set forth their rights, responsibilities and obligations with respect to the scope, schedule, payment and quality of the renovation work.

NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the parties agree as follows:

1. PROPERTY AND SCOPE OF WORK

1.1 Property: The renovation work will be performed at the following location:

1.3 Contractor shall perform the scope with materials, labor, supervision and management necessary to complete the Work in a good and workmanlike manner consistent with industry standards and applicable building codes.

2. CONTRACT PRICE; PAYMENT

2.3 All payments shall be made in U.S. dollars. Contractor shall submit progress invoices in accordance with the payment schedule. Owner shall remit undisputed amounts within ten (10) days of receipt. Any disputed portion shall be itemized and resolved in good faith.

2.4 Retainage, if applicable, shall be: . Final payment shall constitute acceptance of the Work except for latent defects, warranties, and items agreed in writing.

3. SCHEDULE

3.1 Commencement Date: . Substantial Completion Date:

3.2 Time is of the essence. Contractor shall provide a schedule of milestones and shall notify Owner promptly of any circumstances likely to delay completion. Extensions for delays caused by Owner, Force Majeure, or changes shall be reasonable.

4. CHANGES AND CHANGE ORDERS

4.1 No change in the Work shall be effective unless set forth in a written Change Order signed by both parties that specifies the change in the Work, any adjustment to the Contract Price, and any change to the schedule.

5. PERMITS, REGULATORY COMPLIANCE AND INSPECTIONS

5.1 Contractor shall obtain and pay for all permits, inspections and approvals required by applicable law unless otherwise specified. Contractor shall perform the Work in compliance with all applicable building codes, laws and regulations.

6. WARRANTIES; DEFECT CORRECTION

6.1 Contractor warrants that labor and materials furnished under this Agreement shall be free from defects for a period specified above, and Contractor shall promptly correct defects discovered within that period at Contractor's expense, subject to exclusions for ordinary wear and Owner-caused damage.

7. INSURANCE; INDEMNIFICATION

7.1 Contractor shall maintain commercial general liability, workers' compensation and any other insurance as required and shall indemnify, defend and hold harmless Owner from and against claims, liabilities, losses and expenses arising from Contractor's performance of the Work, except to the extent caused by Owner's negligence or willful misconduct.

8. DEFAULT AND TERMINATION

8.1 Either party may terminate for material breach if the breaching party fails to cure within a reasonable cure period after written notice. Upon termination for cause by Owner, Contractor shall be entitled to payment for Work properly performed to the date of termination less costs to complete.

9. DISPUTE RESOLUTION

9.1 The parties shall attempt in good faith to resolve disputes by negotiation. If unresolved, disputes shall be submitted to: Arbitration    Litigation

9.2 If arbitration is selected, it shall be binding and conducted by a single neutral arbitrator with experience in construction disputes. The prevailing party shall be entitled to recover reasonable attorneys' fees and costs where permitted by law.

10. NOTICES

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

11. MISCELLANEOUS

11.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of , without regard to its conflicts of law principles.

11.2 Entire Agreement. This Agreement, including all exhibits and executed Change Orders, constitutes the entire agreement between the parties with respect to the subject matter and supersedes all prior agreements, representations and understandings, whether written or oral.

11.3 Severability. If any provision of this Agreement is held to be invalid or unenforceable, the remainder of this Agreement shall remain in full force and effect and shall be construed so as to effectuate the intent of the parties.

11.4 Amendments and Waiver. No amendment, modification or waiver of any provision of this Agreement shall be effective unless in writing and signed by both parties. Failure to enforce any provision shall not constitute a waiver of future enforcement.

11.5 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. Signatures transmitted by electronic means shall be binding.

CERTIFICATIONS

Each party represents and warrants to the other that (a) it has full power and authority to enter into this Agreement; (b) the person signing on its behalf is duly authorized to bind that party; and (c) the execution, delivery and performance of this Agreement will not violate any law, regulation, permit or contract to which it is subject.

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