Partnership Agreement Sample Page 6
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10Houses constructed by Habitat for Humanity are built with a combination of skilled labor,
unskilled volunteer labor and the labor of you and your family members. In addition,
many materials and a significant portion of the money used to build your house will be
donated. While we will make reasonable efforts to complete the house in general
accordance with the attached basic house description and more specific house plans to be
shown to you at a future date, because of changes in circumstances and uncertainty
regarding future funding and donations, we are unable to promise that your house will be
built according to the original plan, or that it will be built at all. In addition, if the house
is built, we cannot guarantee a completion date or the maximum total construction cost of
the house.
If you are not satisfied for any reason with specific details about the house plans or
features, location, price, construction schedule or any other matter, you may withdraw
from the Program at any time prior to closing and receive a full refund of any closing costs
payment you have made, although you will not be compensated for the value of your
“sweat equity” hours, as described under the “Sweat Equity” section of this Agreement.
(Initial_________)
FINANCE OF HOUSE
At the appropriate time and if you fulfill all of the conditions contained in this Agreement,
we will begin to review with you the estimated terms and conditions of your loan.
Traditionally, Habitat for Humanity sells the house to homeowners and finances the sale
with a no-interest mortgage loan having a term of approximately ___ years. There may be
additional mortgages in favor of Habitat for Humanity or other third party affordable
housing subsidy providers. Additional details regarding the specific terms of your house
sale and loan and related documentation will be discussed upon completion of all
conditions contained in this Agreement.
If you are not satisfied with the proposed terms of the house financing for any reason, you
may withdraw from the Program at any time prior to loan closing and receive a full refund
of any down payment or closing costs payment you have paid. You will not be
compensated for the value of your “sweat equity” hours, as described under the “Sweat
Equity” section of this Agreement.
(Initial_________)
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