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Agreement to Accelerate Progress of Contract Work
AGREEMENT made [Date], by and between [Name] of [Address], hereinafter referred to as "Contractor", and [Name] of [Address], hereinafter referred to as "Owner", agree as follows:
In accord with this agreement, all amendments and modifications in relation to total completion of the allotted construction work is to commence on the [Date].
Owner desires that the construction work be totally finished on or before the [Date].
Contractor, in consideration of an supplementary payment of [$------] payable on [Date], does hereby agree to finish all construction work in harmony with the architectural plans and requirements of the original building contract by [Date].
Time of the Essence. Time is of the essence of this Agreement. Penalties of [$------] will apply against the Contractor in the event that performance of work is not completed as of the designated time being the [Date].
Representations. Each party acknowledges that this agreement has been entered into of his or her volition with full knowledge and information including tax consequences. In some instances, it represented a compromise of disputed issues. Each believes the terms and conditions to be fair and reasonable under the circumstances. No coercion or undue influence has been used by or against either party in making this agreement. Each party acknowledges that no representations of any kind have been made to him or her as an inducement to enter into this agreement other than the representations set forth herein.
No Harassment. Both parties agree not to molest, harass, interfere with, or impose any restraint upon the other, except as set out in this agreement.
Modifications. A modification or waiver of any of the provisions of this agreement shall be effective only if made in writing and executed with the same formality as this agreement. Failure of either party to insist upon strict performance of any of the provisions of this agreement shall not be construed as a waiver of any subsequent default of the same or similar nature.
Amendment. This Agreement may be modified or amended, if the amendment is made in writing and is signed by both parties.
Assignment. This Agreement is of a personal nature and may not be assigned.
Binding. This Agreement shall be binding both of the parties hereto.
Other than those changes set forth herein, the original contract dated the [Date], shall remain in full force and effect.
Governing Law. The parties hereby expressly acknowledge and agree that this Agreement is entered into in the State of [State] and, to the extent permitted by law, this Agreement shall be construed, and enforced in accordance with the laws of the State of [State].
Entire Agreement. This Agreement contains the entire agreement of the parties and there are no other promises or conditions in any other agreement whether oral or written. This Agreement supersedes any prior written or oral agreements between the parties.
Time of The Essence. Time is the essence of this agreement.
IN WITNESS WHEREOF, the parties have executed this agreement the day and year as first above written at [City], [State].
This Section for Notary:
STATE OF -------)
) ss: [Date]
COUNTY OF ------)
On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.
Witness my hand and official seal.
[Name of Notary Public]
My commission expires: [date]