The Deed of Release Construction Contract is utilized when parties wish to formally conclude their contractual relationship in a construction project. This document is particularly important in the United States construction industry as it provides legal certainty and closure for all parties involved. It typically follows the completion of construction work or resolution of disputes, and includes details about final payments, release of liens, and any surviving obligations. The deed serves as evidence that parties have discharged their duties under the original construction contract and protects against future claims, except for those specifically reserved.
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1. Parties: Identification of all parties involved in the release, including the contractor, owner, and any other relevant parties
2. Background: Details of the original construction contract, project completion status, and circumstances leading to the release
3. Definitions: Key terms used in the deed of release including 'Contract', 'Project', 'Claims', 'Release Date'
4. Release Provisions: Specific terms of release including scope, mutual releases, waiver of claims, and effectiveness
5. Consideration: Details of any payment or other consideration for the release, including final payment amounts
6. Execution: Signature blocks, attestation requirements, and notarization provisions
1. Continuing Obligations: Provisions specifying any obligations that survive the release, such as warranties or maintenance obligations
2. Dispute Resolution: Mechanisms for resolving any future disputes related to the release or surviving obligations
3. Indemnification: Provisions for ongoing indemnification obligations that survive the release
4. Confidentiality: Terms regarding the confidentiality of the release agreement and related matters
1. Schedule A - Original Contract: Copy of the original construction contract being released
2. Schedule B - Payment Schedule: Details of any outstanding or final payments, including payment amounts and timing
3. Schedule C - Lien Releases: Forms and certificates for releasing any mechanics' or construction liens
4. Schedule D - Completion Certificate: Documentation certifying completion of construction work and final inspection results
5. Schedule E - Outstanding Claims: List of any known claims or disputes being released as part of the agreement
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