93-3058 - Laserfiche WebLink

Browse Search

10. UTILITIES. The Contractor shall pay all utility bills as- sociated with the construction during the period of construc- tion. Owners shall assume responsibility of all utility bills and accounts at the time of issuance of a Final Certificate of Occupancy. 11. INSURANCE. The Contractor shall furnish Owners proof of Builders Risk Insurance in the full amount of the Contract Sum, Public Liability Insurance, and Workmans Compensation Insurance prior to construction commencement and shall assure that all in- surances are maintained throughout the construction period. 12. TIME OF COMMENCEMENT AND SUBSTANTIAL COMPLETION. Subject to the provisions of this contract, the Contractor agrees to make all effort to start construction within la-days of con- struction loan approval and closing, and to deliver the complet- ed residence as specified herein within 150-days from the start of construction. This contract is predicated on construction time to commence on or a b 0 u t.................?.lQJ./9~.......... Aft e r....,....J.ll.?/.9J........, , if Owners have not authorized commencement of construction, this contract is subject to cost revisions. 13. FINAL PAYMENT AND LIENS. It is agreed that the Owners shall, prior to occupancy. make final payment, including any ex- tras, to the Contractor. At the time of final settlement, an af- fidavit of "NO LIENS" covering all materials and labor will be tendered to the Owners/Lending Institution from the Contractor. 14. Owners and Contractor agree that this Contract for Con- struction shall become null and void in the event that the Own- ers are unable to obtain appropriate construction financing. Neither party shall be liable to the other for any amount in the event this Contract is cancelled, with the exception of cost in- curred by the Contractor for design fees, material deposit, etc. 15. WARRANTY AND CORRECTION OF DEFECTS. The Contractor war- rants to the Owners that all materials and equipment furnished under this contract shall be new unless otherwise specified and agreed, and that all work will be good quality, free from faults and defects, and in accordance with the Contract documents. If, within one (1) year after acceptance by the Owners and occu- pancy of the residence, any of the work is found to be defective or inoperative, the Contractor shall correct it promptly after receipt of notice from the Owner. This obligation shall survive termination of this agreement. It is understood that the Contractor shall not be obligated be- yond normal manufacturers warranties in effect at the time of ~aterials purchase. Further commercial extended warranty programs are available at a slight charge. (5-yr. and lO-yr. warranty programs).