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- 1 - FOUNDATION CONTRACT THIS FOUNDATION 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: Contractor is responsible for all scheduling delivery of all materials. Excess concrete material ordered will be disposed of according to Owner’s instructions. Contrac tor shall schedule inspections of the work as necessary. FOOTING-Concrete Mix or PSI: Slump: Width: Depth: Reinforcing: Number: Spacing: Dowels: Spacing: Keyway: FROST FOOTING-Concrete Mix or PSI: Slump: Width: Depth: Reinforcing: Number: Spacing: Dowels: Spacing: Keyway: FOUNDATION WALL-Material: Block-Size: Concrete Mix or PSI: Slump: * Width: * Beam Pocket Size: Reinforcing: Number: Spacing: PIERS-Concrete Mix or PSI: Slump: Diameter Depth: Spacing: Reinforcing: Number: Spacing: PILINGS-Material: Size: Spacing: Depth: FIREPLACE FTG.-Concrete Mix or PSI: Slump: Width: Length: Depth: Reinforcing: Number: Spacing: FOUNDATION WINDOWS: Size: FOUNDATION DOORS: Size: * CRAWL SPACE-Ground Cover: * Vents: Access: Drain: DRAIN TILE-Material/Size: Material over Tile: FOUNDATION WATERPROOFING: Vapor Barrier: Foundation Insulation: R-Value: Found. Bolt/Size: Spacing: Termite Protection: - 2 - GIRDERS-Material: Size: Span: COLUMNS-Material: Size: Spacing: 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 drawings or specificat ions, no landscaping, finish grading, filling or excavation is to be performed 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 general unavailability of materials. 4. PERMITS: Contractor shall apply for and obtain such permits and regulatory approvals as may be required by the local municipal/county government, the cost thereof shall be include d 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 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 damages suffered by Owner as a result of the soil conditions at the Work Site. 6. INSURANCE: Contractor shall maintain general liability, workers compensation and builder's risk 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 locat ion 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 tha t affect the Work Site. 8. CHANGES TO SCOPE OF WORK: Owner may make changes to the scope of the work, including changes to the drawings and specifications, from time to time during the const ruction 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 Contract. 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 Contrac tor shall estimate the cost thereof and Owner shall pay the actual cost whether or not i t is in excess of the estimated cost. 9. CONTRACT PRICE: {COST PLUS} - 3 - 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 paid as follows: . 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 paym ent is not made when due, Contractor may suspend work on the job until such time as all payments due have bee n made without breach of the Contract pending payment or resolution of any dispute. Owner agree s 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 Contra ctor or its subcontractors, Owner shall pay Contractor for any additional work done by Contractor in rebuilding or restoring the Project to its condition prior to such destruction or damage. If t he 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, drawings, and specifications are intended to supplement one another. In the event of a conflict, the specifications shall control the drawings, and the Contract shall control both. If work is displayed on the drawings but not called for in the specifications, or if the work is called for in the specifications but not displayed on the drawings, Contractor shall be required to perform the work as though it were called for and displayed in both documents. - 4 - (b) Entire Agreement. This Contract constitutes the entire agreement of the parties. No other agreements, oral or written, pertaining to the work to be performed under this Contract exi sts between the parties. This Contract may only be modified only by a written agreeme nt signed by both parties. (c) Governing Law. This Contract shall be interpreted and governed in accordance with the laws of the State of Texas. 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 prevailing part y 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 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 manner and in compliance with all building codes and applicable laws. To the extent required by law, all work shall be pe rformed 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 agrees to repair any cracks in the foundation wall in excess of 1/8 inch and any leaks occurring through foundation wall ties for a period of years. Contrac tor shall not be responsible, if Contractor informed Owner in writing, prior to installation of the foundation, that possible unstable soil conditions may exist and Owner waived the right to ta ke steps to ensure a soil level that would provide a stable load bearing capacity of the soil for the dwelling. Contractor shall not be responsible for structural damage to the dwelling due to the Owner’s failure to maintain suitable soil moisture content at the footing level. C ontractor shall not be responsible for cracks or failure of the foundation caused by Owner’s failure to divert water away from the foundation. Contractor agrees that, should the fireplace footing settle 1 inch vertically or should the fireplace walls separate or otherwise move away from the dwell ing in excess of 1 1/2 inch at the intersection of the roof line and the fireplace wall, within a year period, then, Contractor agrees to furnish and pay for all costs to stabilize the firepla ce footing for an additional period of years from the date repairs was effected, at no additional cost to Owner; provided however, Contractor shall not be responsible, if Contractor informed Owner in writing, prior to installation of the fireplace footing, that possible unstable soil condit ions may exist and Owner waived the right instruct changes be made to ensure additional fireplace footing support. Contractor shall not be responsible after this period. Contractor shall not be responsible for Owner’s negligence. Contractor agrees to assist in securing fulfillment of warranties provided by the manufacturer on the equipment supplied by Contractor. In the event, a crack develops within the above warranty period, then Contractor agrees to repair or replace within days of notice, weather permitting. Contractor hereby assigns to Owner all warranties on mat erials as provided by the manufacturer of such materials. 17. NO WORK COMMENCED: Contractor and Owner affirm that: (a) no work of any kind (e.g., the destruction or removal of any existing improvements, site work, clearing, grubbing, draining, or fencing of the Property) has commenced or been performed - 5 - on the Property; (b)no labor or materials have been ordered or furnished to or on behalf of Owner for use in such construction; and (c) no contracts or agreements (oral or written) for the furnishing of labor, materials, or services for use in the construction or improvements on the Property have been executed. 18. RECEIPT OF DISCLOSURE STATEMENT: Before execution of this Contract, Owner received from Contractor the disclosure statement required by Section 53.255(b) of the Texas Property Code. AGREED: CONTRACTOR: Signature Print Name & Title Date License Number Name and Address of License Holder OWNER: Signature Print Name Date If the Owner is married, the Owner’s spouse is required to sign below. If the Owner is not married, write, “I am not married” below and initial. OWNER’S SPOUSE Signature Print Name Date IMPORTANT NOTICE: You and your contractor are responsible for meeting the terms and conditions of this contract. If you sign this contract and you fail to meet the terms and conditions of this contract, you may lose your legal ownership rights in your home. KNOW YOUR RIGHTS AND DUTIES UNDER THE LAW. - 6 - This contract is subject to Chapter 27 of the Texas Property Code. The provisions of that chapter may affect your right to recover damages arising from a construction defect. If you have a complaint concerning a construction defect and that defect has not been corrected as may be required by law or by contract, you must provide the notic e required by Chapter 27 of the Texas Property Code to the contractor by certified mail, return receipt reque sted, not later than the 60th day before the date you file suit to recover damages in a court of law or initiate arbitration. The notice must refer to Chapter 27 of the Texas Property Code and must describe the construction defect. If requested by the contrac tor, you must provide the contractor an opportunity to inspect and cure the defect as provided by Section 27.004 of the Texas Property Code. KNOW YOUR RIGHTS AND RESPONSIBILITIES UNDER THE LAW. You are about to enter into a transaction to build a new home or remodel existing residential property. T exas law requires your contractor to provide you with this brief overview of some of your rights, responsibilities, and risks in this transaction. CONVEYANCE TO CONTRACTOR NOT REQUIRED. Your contractor may not require you to convey your real property to your contractor as a condition to the agreement for the construction of improvements on your property. KNOW YOUR CONTRACTOR. Before you enter into your agreement for the construction of improvements to your real property, make sure that you have investigated your contractor. Obtain and verify references from other people who have used the contractor for the type and size of construction project on your property. GET IT IN WRITING. Make sure that you have a written agreement with your contractor that includes: (1) a description of the work the contractor is to perform; (2) the required or estimated time for completion of the work; (3) the cost of the work or how the cost will be determined; and (4) the procedure and method of payment, includi ng provisions for statutory retainage and conditions for final payment. If your contractor made a promise, warranty, or representation to you concerning the work the contractor is to perform, make sure that promise, warranty, or representation is specified in the written agreement. An oral promise that is not included in the written agreement may not be enforceable under Texas law. READ BEFORE YOU SIGN. Do not sign any document before you have read and understood it. NEVER SIGN A DOCUMENT THAT INCLUDES AN UNTRUE STATEMENT. Take your time in reviewing documents. If you borrow money from a lender to pay for the improvements, you are entitled to have the loan closing documents furnished to you for review at least one business day before the closing. Do not waive this requirement unless a bona fide e mergency or another good cause exists, and make sure you understand the documents before you sign them. If you fail to comply with the terms of the documents, you could lose your property. You are entitled to have your own attorney review any documents. If you have any question about the meaning of a document, consult an attorney. GET A LIST OF SUBCONTRACTORS AND SUPPLIERS. Before construction commences, your contractor is required to provide you with a list of the subcontractors and suppliers the contractor intends to use on your proje ct. Your contractor is required to supply updated information on any subcontractors and suppliers added after the list is provided. Your contractor is not required to supply this information if you sign a written waiver of your rights to receive this information. MONITOR THE WORK. Lenders and governmental authorities may inspect the work in progress from time to time for their own purposes. These inspections are not intended as quality control inspections. Quality control is a matter for you and your contractor. To ensure that your home is being constructed in accordance with your wishes and specifications, you should inspect the work yourself or have your own independent inspector review the work i n progress. MONITOR PAYMENTS. If you use a lender, your lender is required to provide you with a periodic statement showing the money disbursed by the lender from the proceeds of your loan. Each time your contractor requests payment fr om you or your lender for work performed, your contractor is also required to furnish you with a disbursement stateme nt that lists the name and address of each subcontractor or supplier that the contractor intends to pay from the requeste d funds. Review these statements and make sure that the money is being properly disbursed. CLAIMS BY SUBCONTRACTORS AND SUPPLIERS. Under Texas law, if a subcontractor or supplier who furnishes - 7 - labor or materials for the construction of improvements on your property is not paid, you may become liable and your property may be subject to a lien for the unpaid amount, even if you have not contracted directly with the subcontractor or supplier. To avoid liability, you should take the following actions: (1) If you receive a written notice from a subcontractor or supplier, you should withhold payment from your contractor for the amount of the claim stated in the notice until the dispute between your contractor and the subcontractor or supplier is resol ved. If your lender is disbursing money directly to your contractor, you should immediately provide a copy of the notice to your lender and instruct the lender to withhold payment in the amount of the claim stated in the notice. If you continue to pay the contractor after receiving the written notice without withholding the amount of the claim, you may be liable and your property may be subject to a lien for the amount you failed to withhold. (2) During construction and for 30 days after final completion, termination, or abandonment of the contract by the contractor, you should withhold or cause your lender to withhold 10 percent of the amount of payments made for the work performed by your contractor. This is sometimes referred to as `statutory retainage.' If you choose not to withhold the 10 percent for at least 30 days after final completion, termination, or abandonment of the contract by the contractor and if a valid claim is timely made by a claimant and your contractor fails to pay the claim, you may be personally liable and your property may be subject to a lien up to the amount that you failed to withhold. "If a claim is not paid within a certain time per iod, the claimant is required to file a mechanic's lien affidavit in the real property recor ds in the county where the property is located. A mechanic's lien affidavit is not a lien on your property, but the filing of the affidavit coul d result in a court imposing a lien on your property if the claimant is successful in litigation to enforce the lien claim. SOME CLAIMS MAY NOT BE VALID. When you receive a written notice of a claim or when a mechani c's lien affidavit is filed on your property, you should know your legal rights and responsibilities regarding the clai m. Not all claims are valid. A notice of a claim by a subcontractor or supplier is required to be sent, and the mechanic's lien affidavit is required to be filed, within strict time periods. The notice and the affidavit must contai n certain information. All claimants may not fully comply with the legal requirements to collect on a claim. If you have paid the contractor in full before receiving a notice of a claim and have fully complied with the l aw regarding statutory retainage, you may not be liable for that claim. Accordingly, you should consult your attorney when you receive a written notice of a claim to determine the true extent of your liability or potential liability for that claim. OBTAIN A LIEN RELEASE AND A BILLS-PAID AFFIDAVIT. When you receive a notice of claim, do not re lease withheld funds without obtaining a signed and notarized release of lien and claim from the claimant. You can al so reduce the risk of having a claim filed by a subcontractor or supplier by requiring as a condition of each payment made by you or your lender that your contractor furnish you with an affidavit stating that all bills have been paid. Under Texas law, on final completion of the work and before final payment, the contractor is required to furnish you with an affidavit stating that all bills have been paid. If the contractor discloses any unpaid bill in the affidavit, you should withhold payment in the amount of the unpaid bill until you receive a waiver of lien or release fr om that subcontractor or supplier. OBTAIN TITLE INSURANCE PROTECTION. You may be able to obtain a title insurance policy to insure that the title to your property and the existing improvements on your property are free from liens claimed by subcontractors and suppliers. If your policy is issued before the improvements are completed and covers the value of the improvements to be completed, you should obtain, on the completion of the improvements and as a condition of your final payment, a `completion of improvements' policy endorsement. This endorsement will protect your property from liens cl aimed by subcontractors and suppliers that may arise from the date the original title policy is issued to the date of the endorsement. LIST OF SUBCONTRACTORS AND SUPPLIERS SUBCONTRACTORS: Name Address Phone Number - 8 - SUPPLIERS: Name Address Phone Number NOTICE: THIS LIST OF SUBCONTRACTORS AND SUPPLIERS MAY NOT BE A FINAL LISTING. UNLESS YOU SIGN A WAIVER OF YOUR RIGHT TO RECEIVE UPDATED INFORMATION, THE CONTRACTOR IS REQUIRED BY LAW TO SUPPLY UPDATED INFORMATION, AS THE INFORMATION BECOMES AVAILABLE, FOR EACH SUBCONTRACTOR OR SUPPLIER USED IN THE WORK PERFORMED ON YOUR RESIDENCE. - 9 - WAIVER OF THE LIST OF SUBCONTRACTORS AND SUPPLIERS AN OWNER IS NOT REQUIRED TO WAIVE THE RIGHT GRANTED BY SECTION 53.256, PROPERTY CODE, TO RECEIVE FROM THE CONTRACTOR AN ORIGINAL OR UPDATED LIST OF SUBCONTRACTORS AND SUPPLIERS. BY SIGNING THIS DOCUMENT, I AGREE TO WAIVE MY RIGHT TO RECEIVE FROM THE CONTRACTOR AN ORIGINAL OR UPDATED LIST OF SUBCONTRACTORS AND SUPPLIERS. I UNDERSTAND AND ACKNOWLEDGE THAT, AFTER SIGNING THIS DOCUMENT, THIS WAIVER MAY NOT BE CANCELED AT A LATER DATE. I HAVE VOLUNTARILY CONSENTED TO THIS WAIVER. AGREED: CONTRACTOR: Signature Print Name & Title Date OWNER: Signature Print Name Date - 10 - PAYMENT REQUEST AND DISBURSEMENT STATEMENT PAYMENT REQUEST Original Contract Price: $ Price of any Change Orders: $ Total Price with Change Orders: $ Percent of Project Completed by Contractor: $ Amount due by Owner: $ 10% Permitted Retainage by Owner: $ Amount due by Owner less Retainage: $ Past Due Amount: $ Total Amount Due: $ DISBURSEMENT STATEMENT LIST OF ALL SUBCONTRACTORS AND SUPPLIERS SUBCONTRACTORS AND SUPPLIERS TO BE PAID FROM THIS PAYMENT ARE INDICATED BELOW SUBCONTRACTORS: Name Address Amount Owed SUPPLIERS: Name Address Amount Owed