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<br />The payment Schedule necessary for the construction of <br />this residence shall be per bank schedule, or in the event of <br />cash sale as follows: <br /> <br />( 1 ) 10% at permitting $ 15,700.00 <br />(2) 15% at slab completion $ 23,550.00 <br />(3) 20% at wa~~ and dry in $ 31,400.00 <br />(4) 25% at general(drywall,shingles,etc.) $ 39,250.00 <br />(5) 20% complete dry in $ 31,400.00 <br />(6) 10% at certificate of occupancy $ 15,700.00 <br /> <br />Third: The Contractor agrees to promptly begin said <br />work as soon as notified by Owner, and to complete the work <br />in a timelylike manner. <br /> <br />Fourth: The Contractor shall take out and pay for <br />Workman's Compensation and Public Liability Insurance and all <br />other necessary insurance, as required by the State or <br />County. <br /> <br />Fifth: The Contractor shall pay all Sales Taxes, Old <br />Age Benefit and Unemployment Compensation Taxes upon the <br />material and labor furnished under this contract, as required <br />by the United States Government and the State. <br /> <br />Sixth: No'extra work or changes under this contract <br />will be recognized or paid for, unless agreed to in writing <br />before the work is done or the changes made. <br /> <br />Seventh: This contract shall not be assigned by the <br />Contractor without first obtaining permission in writing from <br />the Owner. <br /> <br />In the event owner shall fail to pay any periodic or <br />installment payment due, Contractor may cease work without <br />breach pending payment or resolution of any dispute. <br /> <br />The Contractor and the Owner for themselves, their <br />successors, executors, administrators and assigns, hereby <br />agree to the full performance of the convenants of this <br />agreement. <br />