I didn't take the time to read all articles of this agreement. You
should have it checked out by a construction lawyer. It most probably
will cost you to have it done. Suggestion: have the construction work
done as an open bid competative project. Get at least 5 to 10 bids.
That way you have your GC's working to give you the most reasonable
price possible as well as giving you control of the workmanship.
Examine their quotes. Get references. BBB check. And have them give
you project references that you can physically check yourself. This is
a trick I figured out myself. Put a prize and penalty clause in the
contract: the GC is to get a 1% increase of the total bid quote for
finishing for each week prior to established date of completion. And
that the GC will forfeit 1% of the total bid quote for each week of
delay beyond the established date of completion. Make sure there is
also a clause stating that the GC has not declared bankruptcy within
the last 3 yrs. And that neither has any member of his family done so
as officer of his or any other similar businessed company. See to it
that his company has not changed hands under similar circumstances. In
12 yrs of international construction contracting (about one every 3
weeks), I had only one GC that didn't meet his deadline.