Construction Contract Template printable pdf download

Construction Contract

Case Number: _______________________

Date: ________________

Borrower Name(s): _____________________________________ Phone #: _____________

_____________________________________ Phone #: _____________

THIS IS A MODEL DOCUMENT FOR USE IN RENOVATION OR CONSTRUCTION

LOAN TRANSACTIONS. THIS FORM IS PROVIDED AS AN EXAMPLE AND IS NOT

VALID AND ENFORCEABLE IN ALL JURISDICTIONS. LENDERS SHOULD

CONSULT WITH LEGAL COUNSEL TO ENSURE THAT ALL FORMS USED TO

ORIGINATE RENOVATION OR CONSTRUCTION MORTGAGES ARE

APPROPRIATE, AND THAT ALL LEGAL INSTRUMENTS ARE COMPLETED

CORRECTLY AND IN COMPLIANCE WITH APPLICABLE LAW.

THIS CONSTRUCTION CONTRACT (“Contract”) dated as of ___________, ______ by and

between ________________________________________________________ (“Owner”) and

________________________________________________________________ (“Contractor”).

Owner and Contractor, in consideration of the mutual covenants hereinafter set forth,

agree as follows:

Article 1. Work.

Contractor shall construct the items identified in Exhibit “A” (“Work”) in accordance

with the Contract Documents, as identified in Article 8 of this Contract on property which is

located at __________________________________________________________ (“Property”).

Article 2. Contract Time.

The Work will be completed on or before _________________ (“Completion Date”),

subject to modifications in approved Change Orders. The Completion Date shall be the date

when the Work is sufficiently complete in accordance with the Contract Documents so that

Owner can occupy or utilize the Property for its intended use (“Substantial Completion”). If

Owner will pay Contractor for all or part of the Work with funds advanced by a lender,

Substantial Completion shall be the date as defined by the loan documents. Before starting the

Work, Contractor shall submit to Owner for review an estimated progress schedule indicating the

starting and completion dates of various stages of the Work.

Article 3. Contract Price.

Owner shall pay to Contractor an amount equal to $___________________________

(“Contract Price”) for completion of the Work.

MULTISTATE CONSTRUCTION CONTRACT – Single Family – Fannie Mae HOMESTYLE MODEL DOCUMENT

Form 3734

11/01

(page 1 of 7 pages)

Construction Contract Template