Construction Contract Template (Page 3 of 7) in pdf

When Final Completion has been reached and after Contractor has

delivered to Owner all maintenance and operating instructions, schedules, guarantees,

certificates of inspection, marked-up record documents and other documents, Contractor may

make application for final payment following the procedure for progress payments. The final

Request for Advance shall be accompanied by all documentation called for in the Contract

Documents, together with complete and legally effective releases or waivers (satisfactory to

Owner and Lender) of all potential liens arising out of or filed in connection with the Work.

Article 6. Interest.

Payments due and unpaid to Contractor shall bear interest at the rate of the lower of

______ percent (__%) per annum or the maximum rate allowed by law at the place of the Work.

Article 7. Contractor’s Representation.

In order to induce Owner to enter into this Contract, Contractor makes the following

representation:

Contractor has familiarized itself with the nature and extent of the Contract Documents,

Work site, locality, and all local conditions and laws and regulations that in any manner may

affect cost, progress, performance or furnishing of the Work. Contractor is duly licensed to

perform the Work as required by local laws and regulations.

Article 8. Contract Documents.

The Contract Documents which comprise the entire Contract between Owner and

Contractor concerning the Work consist of this Contract, Exhibit “A,” the Plans and

Specifications, all Change Orders and _____________________________________.

Article 9. Contractor’s Responsibilities.

9.1.

Performance. Contractor shall perform the Work in accordance with the Contract

Documents. Contractor shall be solely responsible for the means, methods, techniques,

sequences and procedures of construction.

9.2.

Personnel. Contractor shall provide competent, suitable personnel to survey and

lay out the Work and perform construction as required by the Contract Documents. Contractor

shall at all times maintain good discipline and order at the Property.

9.3.

Furnished Items. Contractor shall furnish and be fully responsible for all

materials, equipment, labor, transportation, construction equipment and machinery, tools,

appliances, fuel, power, light, heat, telephone, water sanitary facilities, temporary facilities and

all other facilities and incidentals necessary for the furnishing, performance, testing, start-up and

completion of the Work.

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

Form 3734

11/01

(page 3 of 7 pages)

Construction Contract Template Page 3