Owner is obligated to pay only the deductible required by the owner's insurance company plus any upgrades requested by the owner. Owner further agrees to endorse insurance checks payable to the contractor or to pay the contractor an equal amount upon completion of the work. Owner owes the contractor nothing in the event the insurance company does not authorize the repairs.
Otherwise, Owner understands that this is a binding agreement. If the owner breaches this agreement before commencement of the work, Owner agrees to the contractor 25% of the total sum of work authorized by the owner's insurance company.
Owner understands that, aside from upgrades, a summary of the work to be performed, a description of materials to be used or a list of standard features included, the total contract price or description of the basis on which the price will be calculated, is embodied in the insurance loss date information provided by the owners insurer. Further, owner authorizes the contractor to submit supplemental requests to the insurance company for additional payment requires for omitted items from adjuster scope or due to price fluctuation caused by supply/demand issues.
Owner warrants that this contact is signed without any reliance upon any representations or promises by the contractor, or its agents, except those that are specifically written in this contract; and that no additional promises or representations have been offered as inducement for signing. Owner also acknowledges reading all the terms and conditions on the reverse side of this document.
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