The terms specified in this addendum override and supersede all preprinted, typed (manually or as part of the template), and hand written components of the attached Agreement. Any modifications to this New Construction Addendum shall be made on a subsequent Addendum labeled Addendum To New Construction Addendum. CLOSING COSTS / PREPAIDS / LENDER / CLOSING ATTORNEY: For use of, Lender, and, Loan Officer, SELLER shall pay up to $3,000.00 dollars towards BUYER S closing costs and prepaid items at Act of Sale. For use of, Closing Attorney, SELLER shall pay up to $1,000.00 dollars towards BUYER S closing costs and prepaid items at Act of Sale. PRE-APPROVAL LETTER: This offer is contingent upon BUYER furnishing to SELLER a Pre-Approval Letter for the purchase price listed in the attached Agreement within 5 business days of acceptance. Said Pre-Approval Letter shall indicate credit has been reviewed and income has been verified in writing. DEPOSIT: The deposit check shall be made payable to: Willie and Willie Contractors, L.L.C. within 72 hours of accepted contract in the amount of $, and is nonrefundable under all circumstances. QUALITY FEATURES: Quality Features included are listed on the attached form labeled Quality Features and form shall be signed by BUYER. FLOORPLAN & ELEVATION: Floor Plan and Elevation shall be as per the attached Rendering and shall be signed by the BUYER. Builder reserves the right to make minor modifications as deemed necessary by Builder. SELECTION PROCESS: BUYER to choose EXTERIOR, INTERIOR AND FLOORING COLOR PACKAGE. These selections are to be made on SELLER S forms within 5 days of executed contract on PRESALE. Selections for Available homes which have not been ordered must be made within 3 days of executed contract. If selections on Available home are not made within 3 days of executed contract predetermined selections will be used. UPGRADES: All upgrades are chosen and pre-paid within 7 business day of acceptance of this contract. These upgrades are non-refundable under all circumstances. Additions upgrades after this deadline are subject to approval by SELLER. RESTRICTIONS AND HOMEOWNER S ASSOCIATION: BUYER acknowledges he/she has been made aware of the existence of a Homeowner s Association, the requirement of assessments to be paid and restrictions to be followed as Homeowner in the subdivision. At the time of this purchase agreement, to the best of the SELLER s knowledge, but not guaranteed, annual assessments are: $_ and will be pro-rated at Act of Sale. BUYER further acknowledges he/she has received a copy of the Covenants & Restrictions of the subdivision. Buyer s Initial s Page 1 of 6
Lines 152 & 153 of the Agreement: Line 152 to be selected. Line 153 shall not be selected. Lines 198 205 of the Agreement: Line 206 to be selected. Line 198 and 205 shall not be selected. SELLER WARRANTY, Lines 208 233: a home service/warranty plan, other than NEW HOME WARRANTY per line 229, will NOT be purchased at the closing of sale. Line 229 to be selected. Lines 219 and 222 shall not be selected. Notwithstanding any conflicting provisions in the Agreement, BUYER understands and agrees that SELLER is a Builder, as that term is defined by La. R.S. 9:3143(1) and Seller s warranty to Buyer is exclusively as specified in the New Home Warranty Act (La. R.S. 9:3141 et seq) and Buyer waives any and all other remedies and/or causes of action, including, but not limited to, claims for non-pecuniary damages, breach of contract and negligence, against Seller once the home is occupied and/or and Act of Sale is executed. In addition to the exclusions contained within the New Home Warranty Act, Buyer further waives any claim against Seller for any loss or damage, including, but not limited to, bodily injury or mental anguish caused by soil conditions or soil movement, including (but not limited to) cracks in concrete, mortar, bricks or tile, and/or damage to plumbing. Seller s quality standards to be determined by the Residential Construction Performance Guidelines, 1996 NAHB. In the event such item is not covered by said guidelines then industry standards are to govern. Buyer agrees that Seller shall perform no testing or research on any building material incorporated into construction and that Seller shall have no responsibility for and Buyer hereby waives any claim for the chemical, physical or organic composition of any building material and/or any chemical reaction, metabolic activity or bacterial metabolism relative to sam e. Any testing or research as to chemical, organic or physical composition shall be the sole responsibility of Buyer. By signing below, the Buyer acknowledges receipt of New Home Warranty Act. Additionally, Seller transfers all transferable vendor/manufacturer supplied warranties. Any and all items not listed on Walk Thru forms will be deemed accepted and thereafter are only subject to the warranty. LANDSCAPING: Landscaping includes final grading in accordance with all applicable code requirements. Final grading, sod, trees, and shrubs are not included in or covered by the warranty after execution of the Act of Sale. Seller is not responsible for settling of the yard after closing due to installation of underground utilities. STORM DRAINS: Seller will not relocate or replace storm drains if found they are located at entrance of driveway. A metal grate will be installed as a ramp to drive over drain. EXTENSION: BUYER and SELLER agree to extend the closing date/act of Sale by ONE day per day construction is delayed by inclement weather. SCHEDULING YOUR WALK THROUGH: Seller will schedule walk through AFTER necessary utilities are connected and subcontractors have completed their systems checks. INSPECTION AND DUE DILIGENCE PERIOD: Lines 155-160 of the Agreement are null and void unless the subject home of the Agreement has already received a Certificate of Occupancy at the time the Agreement was accepted by SELLER. Otherwise, BUYER acknowledges the Agreement is for a new construction home to be built and that the sale price of the property was negotiated based upon the generally accepted standards of construction of a residential home to be used in completing construction of home with the general specifications shown on attached Rendering and Quality Feature forms. Buyer s Initial s Page 2 of 6
Lines 162 195 shall be read: the BUYER shall have an inspection and due diligence period of FIVE (5) calendar days, commencing the first day after HVAC startup has been performed by SELLER OR commencing the first day after acceptance of the Agreement (whichever occurs later), wherein the BUYER may, at the BUYER S expense, have any inspections made by experts or others of his / her choosing. Such physical inspections may include, but are not limited to, inspections for termites and other wood destroying insects, and/or damage from same, molds, and fungi hazards, and analysis of synthetic stucco, drywall, appliances, structures, foundations, roof, heating, cooling, electrical, plumbing systems, utility and sewer availability and condition, out-buildings, and square footage. This Agreement is not subject to due diligence relative to the following exclusions: property s school district, insurability, flood zone classifications, current zoning and/or subdivision restrictive covenants. BUYER acknowledges he/she has already been made aware of these items and accepts the property relative to findings of said items listed herein as exclusions. All testing shall be nondestructive testing. The SELLER agrees to provide the utilities for inspections for said inspection period. If the BUYER is not satisfied with the condition of the Property or the results of the BUYER S due diligence investigation, the BUYER will have the following option within the inspection and due diligence period: The BUYER may indicate in writing the deficiencies and desired remedies and the SELLER will within seventy two (72) hours respond in writing as to the SELLER S willingness to remedy those deficiencies ( SELLER S Response ). Should the SELLER in the SELLER S Response refuse to remedy any or all of the deficiencies listed by the BUYER, then the BUYER shall have seventy-two (72) hours from the date of the SELLER S Response or seventy-two (72) hours from the date that the SELLER S Response was due, whichever is earlier, to: (a) accept the SELLER S Response to the BUYER S written requests or (b) accept the Property in its current condition, or (c) respond to the SELLER s Response by the time specified or the BUYER S electing, in writing, to terminate the Agreement shall be automatically, with no further action required by either party, ipso facto null and void except for the return of Deposit to the BUYER. Failure to give written notice of either termination or deficiencies and desired remedies to the SELLER (or the SELLER S Designated Agent) as set forth above shall be deemed as acceptance by the BUYER of the property s condition. ORIGINAL WALK THROUGH PROCESS: Transfer of Utilities form will assist buyer in making application for transferring utilities on the new home. Walk through will be scheduled through Willie and Willie Contractors, L.L.C.. Walk through will be conducted at the home by the SELLER s Homeowner Services. Walk through and Pre-delivery is for buyer(s) listed on purchase agreement, buyer s agent and sellers listing agent only. The walk through is an educational process for the buyer to learn about the working parts of their new home and to review items the buyer has questions on for repair. 1. Homeowner Service will be prepared to conduct a structured and organized walk through process by using seller s forms. 2. Walk through items not listed on seller s form are thereafter subject only to the warranty and will cause the closing date to be postponed a minimum of three (3) full business days. 3. Guide to Homeownership Manual will be presented to the BUYER(S) at the scheduled walk through date. This manual will provide helpful tips for home care and will include interior and exterior selections of the home. HIRED HOME INSPECTION PROCESS: In the event buyer chooses to hire an Inspector to perform a professional inspection of the home, the walk through process is slightly altered. The original walk through by BUYER and with SELLER s Homeowner Service coordinator will take place after buyer and SELLER have agreed to the requested repairs of buyer according to the inspection. Buyer s Initial s Page 3 of 6
For inspection to be performed, Listing Agent will notify BUYER s Agent when home is ready for inspection. Because inspectors are sharing their opinions throughout the report, which are subjective, the seller will only consider those things on the report that are on the summary report shown by Inspector. All homes are built per building code. If any recommended repair does not follow builder code or manufacturer s recommended installation on warranty, the builder will not make repair. BUYER shall deliver the full report and the Summary report to SELLER S listing agent with requested items for repair. Upon receipt, SELLER will respond on SELLER Response to Property Inspection form notifying BUYER which items will be repaired or altered. Upon acceptance, the BUYER and SELLER walk-through will be scheduled and conducted. Upon completion of original walk-through, SELLER will begin repairs. Due to additional time needed for hired inspections Buyer automatically agrees to extend contract by 5 business days to repair/alter items agreed upon in inspection should hired inspection be performed. PRE-DELIVERY WALK-THROUGH PROCESS: 1. After SELLER addresses the items on original walk through list, a representative from Willie and Willie Contractors, L.L.C. will contact BUYER s agent to schedule a pre-delivery walk-through. 2. Pre-Delivery is for the BUYER(s) to revisit the home, to meet the Homeowner Services and to review the work performed by SELLER as a result of original walk through. This usually occurs one to two hours before Act of Sale. BUYER shall make arrangements for this appointment. 3. BUYER(S) shall initial beside all items that are complete on the list from the original walkthrough. No new items can be added to the original walk through list at this time. ITEMS NOT COMPLETE ON PRE-DELIVERY: AFTER THE ACT OF SALE BUYER and BUYER S agent agree that exterior work to be performed will be completed within 15 business days weather permitting. For interior item(s), BUYER must be present for all work and said work shall be performed within 15 business days and only during normal business days and hours. NATURAL STONE WAIVER: Granite countertops are composed of natural materials and are subject to variations in background color, veining distribution and pattern. Absolutely no claims related to natural characteristics will be accepted. Any samples provided by us or any other source will only offer a general representation of the overall color and markings of each product. Samples are not meant as an exact replication of the actual product. Seams: Placement of any seam is at the discretion of the vendor. Seams vary in width and are visible to the eye and touch. Every effort is made to ensure that the seam is placed in the best location for structural integrity. Natural characteristic of granite make it impossible to guarantee a color match or matching veins when seaming two pieces together. Chipping at edges and corners may occur during fabrication of granite. These chips are normally patched and are common characteristics when dealing with natural stone. Buyer s Initial s Page 4 of 6
SELLER S vendor will do their best to select slabs as close to the provided samples of the material. However, because you have selected a natural stone SELLER cannot be responsible for any variations in the color and / or pattern in the material. Some natural stone material, by nature, has small pits and fissures which is a signature that it is a natural product. These pits and fissures are not considered imperfections, and the seller will not be held liable for any repairs or replacement of countertops if this occurs. FLOOD DETERMINATION DISCLOSURE: The Federal Emergency Management Agency (FEMA) has implemented a nationwide effort to update and modernize flood hazard maps. Consistent with the effort, FEMA has distributed preliminary flood hazard maps for public consideration, comment and appeal prior to adoption and finalization of the maps. As a result, the current information provided to Sellers or Buyers regarding property flood risk is based on information in the aforementioned preliminary flood hazard maps. Thus, Real Estate Agents and Brokers cannot guarantee the accuracy of information provided in the preliminary flood hazard maps which are subject to change upon adoption and finalization. Thus, Sellers and Buyers are strongly encouraged to contact the following agencies for more current information: 1. www.lamappingproject.com 2. www.fema.gov 3. www.floodsmart.gov In acknowledgment of the aforementioned, Seller or Buyer agree(s) to indemnify and hold harmless the Real Estate Agent or Broker, and its subsidiaries, affiliates, officers, directors, members, employees, and agents, from any liabilities, costs, expenses, judgments, losses, damages, claims, causes of action or demands, including reasonable attorney s fees, arising out of or in connection with, or in any way incidental to any representations, discussions or statements made by the Real Estate Agent or Broker and its subsidiaries, affiliates, officers, directors, members, employees, and agents relative to any and all Federal Emergency Management Agency issued flood hazard maps. Further, Buyer recognizes Builder has applied for a Letter Of Map Amendment/Revision to FEMA after lot elevation was raised to specified standards. At the time of purchase agreement, FEMA may not have approved LOMA/R and Buyer may by required by lender to close on the home with Flood Insurance. Builder cannot guarantee the LOMA/R will be accepted by FEMA; however Builder will pay up to $500.00 towards Flood Insurance premium at the time of sale should Lender require same. DISPUTES: Notwithstanding any conflicting provisions in the Purchase Agreement, Seller, in its sole discretion, may require that any disputes between the parties arising out of, or relating to, this agreement or the breach thereof, or the construction of the residence which is the subject of this agreement be mediated which mediation, unless the parties mutually agree otherwise, shall be in accordance with the Construction Industry Mediation Rules of the American Arbitration Association currently in effect. The parties shall share the mediator s fee and any filing fees equally. The mediation shall be held in the place where the Project is located, unless another location is mutually agreed upon. Agreements reached in mediation shall be enforceable as settlement agreements in any court having jurisdiction thereof. In the event that mediation is not successful, Seller, in its sole discretion, may require that said disputes or claims be decided by arbitration in accordance with the construction industry arbitration rules of the American Arbitration Association currently in effect, unless the parties mutually agree otherwise. The award rendered by the arbitrators shall be final, and judgment may be entered upon it in accordance with applicable law in any court having jurisdiction thereof. DEFAULT: Notwithstanding any conflicting provisions in the Purchase Agreement, Buyer shall not be entitled to any liquidated damages and Buyer s sole remedy shall be to declare the Purchase Agreement Null and Void. In no event shall Buyer be entitled to any attorney s fees or costs. In the event of buyer default, Seller shall have the right to sue for specific Buyer s Initial s Page 5 of 6
performance and/or damages. A defaulting buyer under this agreement shall also be liable for all attorney s fees and other costs incurred in the enforcement of any and all of Seller s rights under this agreement. Any errors, omission, and/or ambiguities with regard to the meaning of terms and/or conditions herein stated shall not be construed against the maker of this document. All agreements and stipulations herein contained, and all obligations herein assumed, shall inure to the benefit of and be binding upon the heirs, successors, and assigns of the respective parties hereto. In the event any one or more of the provisions contained in this Agreement shall be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement, but this Agreement shall be construed as if such invalid, illegal or unenforceable provision had not been contained herein. Further, in the event any provision of this Agreement shall be held to be unenforceable by limitation thereof, such provision shall be deemed to be amended to the minimum extent necessary to render it enforceable. Without regard to the timing of execution, the terms of this agreement shall prevail over any conflicting provisions in any option list, selection sheet, or other document or agreement executed between the parties. By signing below BUYER(s) and BUYER(s) agent acknowledge and accept all terms: Buyer: Buyer: Buyer s Agent: SELLER: For Willie and Willie Contractors, L.L.C. Buyer s Initial s Page 6 of 6