Addendum to Residential Construction Contract and Sale Agreement

ADDENDUM TO RESIDENTIAL CONSTRUCTION CONTRACT AND SALE AGREEMENT

This Addendum (“Addendum”) to Residential Construction Contract and Sale Agreement dated ______, 20 __ (“Purchase Agreement”) between ______Development Corp., a Michigan corporation (“Builder”;) and ______, a married couple (“Purchasers”;) is made and entered into this ______day of ______, 20 __ with respect to that certain property located at ______, Oakland County, Michigan (the “Property”).

For valuable consideration, the receipt and adequacy of which is hereby severally acknowledged, Builder and Purchasers, intending to be legally bound agree as follows:

1. COMPLETION OF PUNCH LIST. Notwithstanding anything to the contrary in the Purchase Agreement or any other addendum, rider, warranty or related document (including the Customer Service Procedures Manual and the Customer Walk-Thru Inspection report)(all of which shall be referred to as the “Construction Contract Documents”), Builder agrees that the items listed in the attached punch list from ____ Inspection Company and Customer Walk–Thru Inspection report (both of which are incorporated here by reference) shall be completed, repaired or replaced (as indicated by ___ Inspection Company) to Purchasers’ reasonable satisfaction on or before ____, 2000. In the event Builder shall fail to complete such work within the specified time period, Builder shall be deemed in material breach of contract, entitling Purchasers to pursue all legal remedies, including but not limited to specific performance and/or recovery of damages. In the event Builder shall fail to complete, repair or replace such items within the specified time period, Purchasers shall be entitled, but not required, to hire a contractor or contractors to complete such work, the cost of which shall be charged to Builder

2. ADDENDUM CONTROLLING. This Addendum shall be deemed controlling in the event of any inconsistency, ambiguity or conflict between the terms of this Addendum and the terms contained in the Construction Contract Documents.

3. SURVIVAL/NON-MERGER. The terms and conditions of this Addendum shall survive the closing of the transaction and shall not be deemed merged into the deed from Builder to Purchasers.

IN WITNESS WHEREOF, the Builder and Purchasers have executed this Addendum as of the date and year first above written.

WITNESSES: / “BUILDER”
______/ By: ______
______/ Its: ______
“PURCHASERS”
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