CONSTRUCTION CONTRACT ADDENDUM
This Addendum to the Construction Contract (the "Addendum") is made and entered into as of August 9, 2054, by and between [Your Company Name] ("Contractor"), located at [Your Company Address], and John Doe ("Client"), for the project known as Springfield Office Renovation (the "Project"). This Addendum modifies and supplements the original contract dated June 15, 2053 (the "Contract") between the parties.
1. PURPOSE
The purpose of this Addendum is to address adjustments to the Project budget due to unforeseen costs and changes in scope as described below.
2. ADDITIONAL WORK AND SCOPE CHANGES
A. Description of Changes
The scope of the Project has been modified as follows:
Installation of Additional Electrical Outlets: Addition of 10 new electrical outlets in the conference room to accommodate new office equipment.
Upgrade of HVAC System: Replacement of the existing HVAC system with a new, more efficient model to meet increased load requirements.
Enhanced Insulation: Installation of additional insulation in the north-facing walls to improve energy efficiency.
B. Reason for Changes
The changes outlined above are necessitated by unexpected electrical load requirements, increased heating and cooling demands, and energy efficiency improvements identified during the initial phase of the renovation.
3. COST ADJUSTMENTS
A. Original Contract Sum
The original contract sum was $150,000.
B. Revised Budget
The revised budget, including the adjustments for unforeseen costs and changes in scope, is detailed below:
Description of Work | Original Cost | Adjusted Cost | Change Amount |
|---|
Adding Electrical Outlets | $5,000 | $7,500 | $2,500 |
Upgrade of HVAC System | $30,000 | $40,000 | $10,000 |
Enhanced Insulation | $8,000 | $10,000 | $2,000 |
C. Revised Contract Sum
The revised contract sum after incorporating the adjustments is $164,500.
4. PAYMENT TERMS
A. Adjusted Payment Schedule
Payments will be adjusted according to the revised contract sum. The updated payment schedule is as follows:
Initial Payment: $20,000 due on August 15, 2054
Progress Payments: $40,000 due on September 15, 2054, $50,000 due on October 15, 2054, $30,000 due on November 15, 2054
Final Payment: $24,500 due on December 1, 2054
B. Invoices
The contractor shall issue invoices reflecting the adjusted costs, which the Client agrees to pay according to the revised payment schedule.
5. PROJECT TIMELINE
A. Revised Completion Date
The anticipated completion date of the Project is December 15, 2054, subject to further adjustments based on unforeseen conditions or additional scope changes.
6. TERMS AND CONDITIONS
All other terms and conditions of the original Contract remain unchanged and in full force and effect, except as expressly modified by this Addendum.
7. EXECUTION
IN WITNESS WHEREOF, the parties hereto have executed this Construction Contract Addendum as of the day and year first above written.
Contractor:
[Your Company Name]
By: [Your Name]
Title: Project Manager
Email: [Your Email]
Client:
By: John Doe
Title: Property Owner
Email: john.doe@email.com
Phone: (555) 987-6543
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