Form Overview
The Facility Build Out Agreement provides a legal framework for engaging a Contractor to build out a Shopping Center retail store. The arrangement incorporates the lease between the Shopping Center management and the Store Owner, who engages the Contractor to construct the facility. The schedule starts and ends on certain dates to insure completion by the opening date. The Contractor is responsible for obtaining local approval of plans and specifications, as well as coordinating local utility access. The price is a fixed amount, payable in installments with a ten percent deposit due upon contract signing. Twenty percent of the price is also due upon contract signing. An additional twenty percent is due after defined initial completion, followed by another twenty percent after substantial completion. The final payment is due upon final completion and owner inspection. All subcontractors are subject to owner approval. Contractor grants best efforts and material warranties, and agrees to indemnify owners from claims arising in the course of construction. You can find answers to your questions using our extensive library of
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