Prime Construction Contract

PRIME CONSTRUCTION CONTRACT This AGREEMENT is between: PROJECT: (Contractor's Name) (Name) (Contractor's Address) (Address) (City, State, Zip) (City, State, Zip) (Telephone) Contractors am required by law to be licensed and regulated by the Contractors' State License Board which has jurisdiction to investigate complaints against contractors if a complaint is filed within three years of the date of the alleged violation. Any questions concerning a contractor may be referred to the Register of the Board whose address (California residents only, consult your yellow pages for the Board in your state) is: Contractors' State License Board, 91135 Goeth Road, Sacramento, California 95827 or mailing address: P.O. Box 26000, Sacramento, CA 95826. AND (Owner's Name) (Owner's Address) (City, State, Zip) A. Construction Funds: The name and address of the construction fund holder is: (Name and branch Address of bank Savings and Loan Association, Escrow Agent, Joint Contract or Other Construction Fund Holder) B. Description of the Work: Contractor will furnish all labor and materials to construct and complete, upon the project described above, in a good workmanlike and substantial manner a (Describe the Work to be Done Under this Contract) (hereafter called ''the project'') upon the following described property (Insert Legal Description and Street Address it known) C. Property Lines: Owner shall locate and point out property lines to contractor. Contractor may, at his option, require owner to provide a licensed land surveyor's map of property. D. Payment: Owner will pay contractor the sum of $ in installments as follows: (Insert Total Contract Price) E. Time for Completion of Work: Within 30 days after the execution of this agreement, owner will have the job site ready for commencement of and shall thereafter give contractor written notice to commence work. Contractor shall commence work within 10 days of the notice and shall complete the same working days after commencement subject to permissable delays. F. Terms and Conditions: The terms and conditions on the reverse side are expressly incorporated into this contract. Contractor's License No. Date: Firm Name (Contractors Firm Name, If Any) X (Owner Sign Here) By (Contractor or Agent Sign Here) X (It More than One Owner, Second Owner Sign Here) <PRIME.FT2> 2001 © American LegalNet, Inc. American LegalNet, Inc. www.FormsWorkFlow.com TERMS AND CONDITIONS § 1. PLANS, SPECIFICATIONS, AND PERMITS. The project will be constructed according to plans and specifications which have been examined by the owner and which have been or may be signed by the parties hereto. Contractor will obtain and pay for all required building permits, but owner will pay assessments and charges required by public bodies and utilities for financing or repaying the cost of sewers, drains, water service and other utilities, including sewer and storm drain charges, revolving fund charges, hook-up charges and the like. to name contractor as an additional insured, and to protect owner, contractor and construction lender as their interests may appear ; should owner fail to do so, contractor may procure such insurance as agent for and at expense of owner, but is not required to do so. If the project is destroyed or damaged by an accident, disaster or calamity, such as a storm fire, storm, flood, landslide, subsidence or earthquake, or by theft or vandalism, any work done by contractor in rebuilding or restoring the project shall be paid for by owner as extra work under Section Four. Contractor will remain in full force and affect a workers' compensation insurance policy and a comprehensive liability insurance policy in amounts not less than required by the specifications, or, as noted in D, and shall furnish certificates of insurance to owner before commencing work. The failure of owner to demand delivery of certificates of insurance hereunder shall not relieve contractor of any obligation under this paragraph. § 9. RIGHT TO STOP WORK. Contractor shall have the right to stop work if any payment shall not be made to contractor under this agreement; contractor may keep the job idle until all payments due are received. § 10. LIMITATIONS. No action arising from or related to the contract, or the performance thereof, shall be commenced by either party against the other more than two years after the completion or cessation of work under this contract. This limitation applies to all actions of any character, whether at law or in equity, and whether sounding in contract, tort or otherwise. This limitation shall not be extended by any negligent misrepresentation or unintentional concealment, but shall be extended as provided by law for willful fraud, concealment or misrepresentation. § 11. ATTORNEY FEES. If either party becomes involved in litigation arising out of this contract or the performance thereof, the court in such litigation, or in a separate suit, shall award reasonable costs and expenses, including attorney fees, to the party justly entitled thereto. In awarding attorney fees, the court will not be bound by any court fee schedule; but shall, if it is in the interest of justice to do so, award the full amount of costs, expenses and attorney fees paid or incurred in good faith. ground § 12. CLEAN -UP. Upon complete on of work, contractor will remove debris and surplus material from owner s property and leave it in a neat and broom-clean condition. § 13. TAXES AND ASSESSMENTS. Taxes and special assessments of all descriptions will be paid by owner. § 14. NOTICE. Any notice required or permitted under this contract may be given by ordinary mail at the address contained in this contract; but such address may be changed by written notice given by one party to the other from time to time. After a notice is deposited in the mail, postage prepaid, it shall be deemed received in the ordinary course of the mails. § 15. PROHIBITION OF ASSIGNMENT. Contractor may rot assign this contract or payment due under this contract to any other party without the written consent of owner. § 16. BANKRUPTCY. If either party becomes bankrupt, or makes an assignment for the benefit of creditors, the other party has the right to cancel this contract. § 17. ARBITRATION. Any controversy arising out of the construction of the project referred to in this contract or regarding the interpretation of this contract or, any subcontract or sub-contract is subject to arbitration. Owner, contractor, and all subcontra