CONTRACTOR AGREEMENT



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

as of the 6th day of November, 2000, by and between NEWMARK HOMES CORP., a

Nevada corporation ("NEWMARK") and TECHNICAL OLYMPIC S.A., a Greek corporation

("CONTRACTOR").



                                    RECITALS



         WHEREAS, NEWMARK desires for its subsidiaries and affiliates (the

"Newmark 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 Newmark Entities;



         WHEREAS, for such purpose, NEWMARK will cause the Newmark Entities to

assign their respective rights under certain construction and other contracts

currently in effect and certain future construction and other 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 Newmark Entities (such

contracts collectively with the Assigned Construction Contracts, the

"Contracts");



         WHEREAS, CONTRACTOR and NEWMARK 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, NEWMARK and CONTRACTOR hereby

agree as follows:



1.       Engagement.



         NEWMARK hereby engages CONTRACTOR, and CONTRACTOR hereby accepts such

         engagement and agrees to perform the construction and related services

         described in Section 3 below (the "Services"), on behalf of and for the

         account of NEWMARK and the Newmark Entities in accordance with the

         terms and conditions of this Agreement.



2.       General Standards.



         CONTRACTOR will provide the Services and perform its obligations

         hereunder with reasonable diligence. NEWMARK 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 for the construction and

                  to purchase such materials, supplies and labor pursuant to the

                  Contracts as may be directed by the respective Newmark

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