An amendment to construction department lease agreement is an agreement signed between the parties associated with the occupancy of a property for construction. The lease contains all the information and requirements regarding construction, including plans for hiring a contractor, which grade construction materials are used, and the delivery time of the project.
The amendments made in the agreement should be consulted with all the parties before drafting of a contract. The changes should be stated clearly along with the sign of both parties in the agreement. Also, new terms or requirements can also be added in the contract in addition to the changes made. The other name of this agreement is a commercial lease amendment.
When Do You Need An Amendment To Construction Department Lease Agreement?
The amendment to construction department lease agreement is a necessary document for those who wish to make amendments related to hiring a contractor or delivery time of the project in their existing construction department lease contract. Also, both parties should discuss the changes to avoid further crisis. The need for amendments can be due to the change in circumstances of the construction project.
Key Terms Of Amendment To Construction Department Lease Agreement Include:
- Contact information of both the parties
- Requirements of the construction including plans and specifics
- Plan for hiring the contractor
- Site of work
- Description of construction
- Price and payments
- Grade of construction materials
- Time of delivery of the project
Inclusions In Amendment To Construction Department Lease Agreement
Two parties sign the amendment to construction department lease agreement who agree on changing and adding new terms and conditions of the existing contract. The two parties involved are:
- The owner of the property who gives contract
- The contractor hired who oversees the day to day construction progress
The effective date of the agreement is the date from which the document or contract is valid. The lease applies when both parties agree on some changes that are made in the arrangement of the existing contract.
How to Draft an Amendment to Construction Department Lease Agreement
Drafting an Amendment to Construction Department Lease Agreement Includes the Following Steps:
- Viewing the scope of amendment: The contractor and the owner first discuss the range of changes to be made in the contract.
- Agreeing: Both parties agree on various changes or amendments made in the contract. Both parties also discuss the payment and grade of materials to be used for construction.
- Signing the agreement: Both the parties’ then sign the contract and agree to all the terms and conditions listed in the contract.
- Getting the work done: The contractor must make sure the job is completed on time and according to the new agreement.
Benefits Of Amendment To Construction Department Lease Agreement
It is always a good idea to have a written document, especially when it comes to property and money related methods to avoid future disputes. The various benefits of having an agreement are:
- The document states all the construction requirements and grade of materials used to avoid any future confusion.
- The contract also contains the various terms and payment details in case of any future disputes.
- The agreement also saves the owner time and money of dealing with lawyers.
- The contract is also helpful in providing with information regarding the time of delivery of the project. In case of any delay, the owner can take legal action.
There can be many consequences or penalties in case either the contractor or the owner defaults the agreement.
Key Terms/Clauses In Amendment To Construction Department Lease Agreement
There are various terms and requirements listed in the amended agreement to avoid further disputes. The different points listed in the agreement are:
- Details of the owner who hires the contractor to complete construction of his property
- Details of the contractor
- The license number of the contractor
- Project site
- A description of the construction work to be done
- Grade of the materials used
- Construction price
- New changes in the existing Lease Agreement
[Also Read: Construction Contract]
Sample for Amendment To Construction Department Lease Agreement
A sample of the agreement can be downloaded from below.
Download this USA Attorney made Original Agreement for only $9.99
If you need any alterations or have any queries, please contact us before downloading.