Form 2420 - Homeowner/contractor Agreement - Fha 203(K) Rehabilitation Program printable pdf download

HOMEOWNER/CONTRACTOR AGREEMENT

FHA 203(k) Rehabilitation Program

Owner’s Name(s):

________________________________

FHA Case No:__________________

Address:

_______________________________________________________________________

City:

________________________

State: _____

Zip Code:

____________

Telephone

Work: __________________

Home: ____________________________________

Contractors Name: __________________________________________________________________

Address:

_______________________________City:_________________St:_____Z/C:__________

Telephone:

Work: __________________

Cell:

_____________________________________

THIS AGREEMENT (three pages) made this date, ___________________________, between the above

mentioned Homeowner (Owner) and Contractor, is for the rehabilitation of the property located at

__________________________________________________________________ that has been approved

for FHA mortgage insurance under Section 203(k) of the National Housing Act. The Owner(s) shall pay the

Contractor the sum of $_______________________ for completion of the work, including all sales tax due

by law, together with such increases or decreases in the contract price as may be approved in writing by the

Lender. The work will begin within 30 days of loan closing with the Lender and will be completed no later

than ________________________, unless delayed beyond the Contractor’s control.

The General

Provisions listed below are made a part of this Agreement.

The contract documents consist of the

architectural exhibits listed in the Rehabilitation Loan Agreement between the Owner(s) and the Lender, or

as described below (or on an attached sheet):

1. Contract Documents: This Agreement includes all general provisions, special provisions and architectural exhibits

that were accepted by the lender. Work not covered by this agreement will not be required unless it is required by

reasonable inference as being necessary to produce the intended result. By executing this Agreement, the

contractor represents that he/she has visited the site and understands local conditions, including state and local

building regulations and conditions under which the work is to be performed.

2. Owner: Unless otherwise provided for in the Agreement, the owner will secure and pay for necessary easements,

exceptions from zoning requirements, or other actions which must precede the approval of a permit for this project.

If owner fails to do so then the contract is void. If the contractor fails to correct defective work or persistently fails

to carry out the work in accordance with the agreement or general provisions, the owner may order the contractor

in writing to stop such work, or a part of the work, until the cause for the order has been eliminated.

Owners Initials:

_____ _____

Contractor’s Initials:

_____ _____

-Continued on Page Two-

FHA 203(k) Home Owner - Contractor Agreement

Loan #:

Form 2420 Rev. 1/5/05

Borrower:

Form 2420 - Homeowner/contractor Agreement - Fha 203(K) Rehabilitation Program

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