Preview | Contractor Agreement | Engle Homes, Inc.; Technical Olympic USA Inc.

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Contractor Agreement

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Title:

Contractor Agreement

Entities:

Technical Olympic USA Inc.; Engle Homes, Inc.; Technical Olympic USA Inc.

Date:

2003

Size:

Preview shows 3KB of 13KB total

Price:

$37

ID:

#119607

► Fee Agreements ► Contractor ► Construction Contractor Agreements
► Construction

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                              CONTRACTOR AGREEMENT



         This Contractor Agreement (the "Agreement") is entered into effective

as of the 22nd day of November, 2000, by and between ENGLE HOMES, INC., a

Florida corporation ("ENGLE") and TECHNICAL OLYMPIC S.A., a Greek corporation

("CONTRACTOR").



                                    RECITALS



         WHEREAS, ENGLE desires for its subsidiaries and affiliates (the "ENGLE

Entities") to receive economic benefits by utilizing the services of CONTRACTOR;



         WHEREAS, CONTRACTOR is willing to provide such services for the

business operations of the ENGLE Entities;



         WHEREAS, for such purpose, ENGLE will cause the ENGLE Entities to

assign their respective rights under certain construction contracts currently in

effect and certain future construction contracts (the "Assigned Construction

Contracts") to CONTRACTOR, and CONTRACTOR will assume the Assigned Construction

Contracts, subject to the terms and conditions set forth herein;



         WHEREAS, CONTRACTOR will enter into certain other or additional

construction contracts for the operations of the ENGLE Entities (such contracts

collectively with the Assigned Construction Contracts, the "Contracts");



         WHEREAS, CONTRACTOR and ENGLE desire to document their agreements;



         NOW, THEREFORE, KNOW ALL MEN BY THESE PRESENTS, that in consideration

of the mutual benefits to accrue to each of the parties hereof, the receipt and

sufficiency of which are hereby acknowledged, ENGLE and CONTRACTOR hereby agree

as follows:



         1.       Engagement.



                  ENGLE hereby engages CONTRACTOR, and CONTRACTOR hereby accepts

                  such engagement and agrees to perform the construction

                  services described in Section 3 below (the "Services"), on

                  behalf of and for the account of ENGLE and the ENGLE Entities

                  in accordance with the terms and conditions of this Agreement.



         2.       General Standards.



                  CONTRACTOR will provide the construction Services and perform

                  its obligations hereunder with reasonable diligence. ENGLE

                  will provide its services and perform its obligations

                  hereunder with reasonable diligence.



         3.       Services to be Performed by CONTRACTOR.



         a.       CONTRACTOR hereby agrees to provide the construction work

                  according to the Contracts as may be directed by the

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