Exhibit 10.1
AIA Document A101 -1997
Standard Form of
Agreement Between Owner and Contractor where the basis of
payment is a STIPULATED SUM
AGREEMENT made as of .he Fourth day of January in the year of Two
Thousand Seven
BETWEEN the Owner:
Cornerstone National
Bank, General Corporation
670 East Main
Street
Easley, SC 29640
Telephone Number:
864-306-1444
and the
Contractor:
SYS Constructors,
Inc., General Corporation
20 Brozzini Court
Greenville, SC
29615
Telephone Number:
864-288-3885
The Project is:
Cornerstone National
Bank Operations Center
1670 East Main
Street
Easley, SC 29640
The Architect is:
Context Design Group,
LLC, Limited Liability Company
200 Westfield
Street
Greenville, SC
29601
Telephone Number:
864-233-3230
Fax Number:
864-233-3220
The Owner and
Contractor agree as follows.
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<PAGE>
ARTICLE 1 THE CONTRACT
DOCUMENTS
The Contract
Documents consist of this Agreement,
Conditions of the
Contract
(General, Supplementary and other Conditions), Drawings, Specifications,
Addenda issued prior
to execution of this Agreement, other documents listed in
this Agreement and Modifications issued after execution of this Agreement;
these form the
Contract, and are as fully a part of the Contract as if
attached
to this Agreement or
repeated herein.
The Contract
represents the entire
and
integrated
agreement
between
the parties hereto and supersedes prior
negotiations,
representations
or agreements, either written or oral. An
enumeration of the
Contract Documents,
other than
Modifications,
appears in
Article 8.
ARTICLE 2 THE WORK OF
THIS CONTRACT
The Contractor shall fully execute the Work described in the Contract
Documents,
except to the extent specifically indicated in the Contract
Documents to be the
responsibility of others.
ARTICLE 3 DATE OF
COMMENCEMENT AND SUBSTANTIAL COMPLETION
Section 3.1 The date of commencement of the Work shall be the date of this
Agreement unless a different date is stated
below or provision is made for the
date to be fixed in a
notice to proceed
issued by the Owner.
(Insert the date
of commencement if it differs from the dare of this Agreement or, if
applicable. state that
the date will be fixed in a notice to proceed.)
RECEIPT OF FULL
BUILDING PERMIT
If, prior to the
commencement
of the Work,
the Owner requires time to file
mortgages,
mechanic's
liens and other
security interests, the Owner's time
requirement shall be
as follows:
Section 3.2 The
Contract Time shall be measured from the date of commencement.
Section 3.3 The
Contractor shall achieve Substantial Completion of the entire
Work not later
than 226 days
from the date of
commencement,
or as follows:
(Insert number of calendar days. Alternatively, a calendar date may be used
when coordinated with
the date of commencement. Unless stated elsewhere in {he
Contract Documents,
insert any
requirements for earlier Substantial Completion
of certain portions of
the Work.);
Portion of Work
Substantial Completion Date
Contract Scope
July 27, 2007
, subject to
adjustments of this
Contract Time as provided in the Contract
Documents. (Insert
provisions.
if any, for liquidated damages relating to
failure to complete on time or for bonus payments for early completion of the
Work.)
ARTICLE 4 CONTRACT
SUM
Section 4.1 The Owner shall pay the
Contractor
the Contract Sum in current
funds for the
Contractor's
performance of the Contract. The Contract Sum shall
be One Million
Thirteen Thousand Two Hundred Forty-four Dollars and Zero
Cents
($1,013,244.00),
subject to additions and deductions as provided in the
Contract
Documents.
Section 4.2 The
Contract Sum is based upon the following alternates. if any.
which are described in
the Contract Documents
and arc hereby
accepted by the
Owner: (State the
numbers or other
identification of accepted alternates. If
decisions on other
alternates
are to be made by the
Owner subsequent
to the
execution of this
Agreement, attach a schedule of such other alternates showing
the amount for each
and the dare when that amount expires)
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<PAGE>
Alternate No. I - Not Accepted
Voluntary Alternate
"A" - Aluminum Louvers
- Add $2,450.00 to have the Louvers
as Specified in Section 10200
Voluntary Alternate
"B" - Dual
Piston Elevator - Add $2,450.00 to have the
Elevator as Specified in Section 14240
Voluntary Alternate
"C" -1 Ton Steel Misc.
Steel per Note F-14 on
S-000 - Add
$15,000.00 to have an allowance to be used for Miscellaneous Steel
as Specified
Voluntary Alternate
"D" - Access Floor Type FS vs. S - Deduct $7,896.00 - Owner
will provide Access Floor under a separate contract
Voluntary Alternate
"E" - Additional Permit Fee Allowance - Add $5,000.00
Allowance to
accommodate
additional
fees anticipated for Owner Purchased
Contract values in addition to General Contractor Base Bid
Amount
Voluntary Alternate
"F" - Grass - Add $1,200.00 for Hydro-Seeding of all areas
not to be paved
Section 4.3 Unit prices, if any, are as follows:
Description
Units
Price ($0.00)
Unit Price #1 Trench Rock
CU
$350.00
Unit Price #2 Mass Rock
CU
$125.00
Unit Price #3 Removal of Under Cut Soil
CU
$8.50
Unit Price #4 Engineered Fill
CU
$35.00
Unit Price #5 Off-site Fill
CU
$11.75
Unit Price #6 On-site Fill
CU
$9.50
ARTICLE 5 PAYMENTS
Section 5.1 PROGRESS
PAYMENTS
Section 5.1.1 Based
upon Applications for Payment submitted to the Architect by
the Contractor and
Certificates for Payment issued by the Architect, the Owner
shall make progress
payments on account of
the Contract Sum to the Contractor
as provided below and
elsewhere in the Contract Documents.
Section 5.1.2 The
period covered by each
Application for
Payment shall be one
calendar month ending
on the last day of the month, or as follows:
Section 5.1.3
Provided that an Application for Payment is received by the
Architect not later
than the 10th day of a month, the Owner shall make payment
to the Contractor
not later than the 25th day of the same month. If an
Application for Payment is received by the Architect after the
application date
fixed above, payment
shall be made by the Owner not
