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The Building Contract for New Homes in Alameda is a legally binding agreement between a Contractor and an Owner for the construction of a residential property. Key features include the scope of work, work site specifications, permit procurement responsibilities, and soil condition assessments. Additionally, the contract outlines insurance requirements, a procedure for changes to the project scope, contractor payment options, late payment penalties, and warranty details. Filling out the form requires clear identification of the Contractor and Owner, description of the project, and financial terms. This contract is essential for ensuring that all parties have a mutual understanding of their obligations and rights throughout the construction process. It serves as a useful tool for attorneys, partners, and legal assistants by providing a structured approach to real estate transactions. Moreover, it aids Owners and associates in clarifying expectations and protecting their interests in residential construction projects, thereby minimizing potential disputes.