Robert C. Davis, Jr. - Page 6

                                         -6-                                          

               22.2 The Contract Sum and Contract Time may be changed                 
               only by Change Order.                                                  
               22.3 The cost or credit to the Purchaser from a Change                 
               in the Work shall be determined by mutual agreement.                   
               ARTICLE TWENTY THREE -- CORRECTION OF WORK                             
               MONA BUILDERS & DEVELOPERS, INC. shall correct any Work                
               that fails to conform to the requirements of the Con-                  
               tract Documents where such failure to conform appears                  
               during the progress of the Work, and shall remedy any                  
               defects due to faulty materials, equipment or workman-                 
               ship which appear within a period of one year from the                 
               Date of Substantial Completion of the Contract or                      
               within such longer period of time as may be prescribed                 
               by law or by the terms of any applicable special guar-                 
               antee required by the Contract Documents.  The provi-                  
               sions of the Article Twenty Three apply to Work done by                
               Subcontractors as well as to Work done by direct em-                   
               ployees of MONA BUILDERS & DEVELOPERS, INC.                            
                  *       *       *       *       *       *       *                   
               ARTICLE TWENTY FIVE -- TERMINATION BY THE PURCHASER                    
               If MONA BUILDERS & DEVELOPERS, INC. defaults or ne-                    
               glects to carry out the Work in accordance with the                    
               Contract Documents or fails to perform any major provi-                
               sions of the Contract, the Purchaser may, after seven                  
               days written notice to MONA BUILDERS & DEVELOPERS,                     
               INC., and without prejudice to any other remedy he may                 
               have, make good such deficiencies and may deduct the                   
               cost thereof from the payment then or thereafter due                   
               MONA BUILDERS & DEVELOPERS, INC. or, at his option, may                
               terminate the Contract.                                                
               At a time not disclosed by the record after petitioner and             
          Ms. Davis executed the custom house contract, Mona Builders began           
          construction of the house (custom house) described in that                  
          contract.  Mona Builders obtained certain insurance policies from           
          State Auto Property & Casualty Insurance Company (State Auto) in            






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Last modified: May 25, 2011