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<br />/. <br /> <br />page 3 <br /> <br />commencing construction, unless such time is extended by mutual <br />agreement of the Contractor and Buyer. Time for completion shall <br />be extended according to delays caused by an act of God, inclement <br />weather, strike or other causes beyond the control of the <br />Contractor. <br /> <br />SIXTH: <br /> <br />The Contractor agrees in the' construction of said <br /> <br />building to comply with all restrictions and reservations of record <br />and to comply with and carry out the provisions of any and all <br />applicable municipal, state or Federal building code or codes, laws <br />or ordinances. <br /> <br />SEVENTH: Any work done or materials used in construction of <br />said building not in accordance with plans and spec~ficati~~s shall <br />be replaced by the Contractor at his own expense upon demand of the <br />Buyer. Defective materials installed by the Contractor or his Sub- <br />contractors will'be replaced by the Contractor at his expense for <br />a period of one year after issuance of the Certificate of <br />Occupancy. <br /> <br />EIGHTH: <br /> <br />At least five (5) working days prior to the <br /> <br />Contractor Obtaining the Certificate of Occupancy, Contractor shall <br />notify the Buyer in writing that the premises have been <br />substantially completed and are ready for Buyer's inspection. <br />Buyer shall then advise the contractor, ei ther orally . or in <br />writing, when they shall make their inspection. At the end of the <br />Buyer's inspection, the Buyer may give the Contractor a list of <br />alleged defects in the improvements, which shall hereinafter be <br />referred to as the "punch list". After obtaining certificate of <br />occupancy and upon issuance of a "punch list" amo~ts equal to 95% <br />of the contract will be paid to the Contractor. The balance of 5% <br />shall be retained by the buyer until satisfactory resolution of the <br />"Punch list". Contractor shall review the "punch list" with the <br />Buyer, examine the improvements and shall have the option of either <br />